LONDON, UK (18 November 2015)—The global market for women’s health devices is forecast to grow from an estimated $1.8 billion in 2014 to approximately $2.4 billion in 2021, representing a Compound Annual Growth Rate (CAGR) of 3.7 percent, according to research and consulting firm GlobalData.
The company’s latest report states that the main drivers of this growth, which will occur across the 10 major markets of the US, India, Brazil, China, France, Germany, Italy, Spain, the UK and Japan, include rising physician and patient awareness of minimally invasive techniques, an increasing number of women seeking treatment for reproductive and pelvic health-related disorders, and the rising prevalence of these disorders.
Premdharan Meyyan, GlobalData’s Analyst covering Medical Devices, says the increasing number of patients seeking treatment for reproductive and women’s health-related disorders largely comes down to a burgeoning awareness of the impact that such disorders can have on a woman’s quality of life.
Meyyan explains: “The understanding that a woman’s quality of life can be vastly improved by new technologies coincides with the awareness that a variety of new treatment options, such as global endometrial ablation and uterine artery embolization, are far less invasive than surgery.
“For women who suffer from abnormal uterine conditions, such as heavy menstrual bleeding and uterine fibroids, these new technologies offer safe and effective alternative treatment options to patients who do not wish to undergo invasive surgery.”
The analyst adds that as more women seek treatment for uterine health and incontinence issues, the women’s health market will become increasingly competitive, provided that the new technology meets efficacy and safety standards.
Meyyan continues: “While newer technologies have the potential to revolutionize the women’s healthcare market, more robust clinical data must be established before these segments can expand in earnest. Additionally, the high cost of these treatments may also be a barrier to market growth during the forecast period.”
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