Top four trends stimulating women health devices market: upsurge in numerous government initiatives pertaining to female medical care to impel the industry landscape
Publisher : Fractovia | Published Date : 2019-05-27Request Sample
The global women health devices market is slated to emerge as a lucrative vertical of the medical devices industry worldwide in the coming years. It has been observed that while women in developed nations are unable to actively address health concerns owing to their multiple roles across the professional and personal realms, women belonging to medium and low income nations simply lack access to proper healthcare. Nevertheless, decades of persistent social and political movements aimed at achieving social and economic equality of the sexes has sketched a brighter and healthier future for women, thereby aiding the expansion of the global women health devices market.
U.S. Women Health Devices Market, By Type, 2018 & 2025 (USD Million)
Here's a catalog of the major trends concerning women’s welfare that are expected to drive the global women health devices market in the coming years:
Alarming maternal mortality rates
One would be wrong to assume that high maternal mortality rates would be an issue more relevant to low and medium income nations. The maternal mortality rates in the U.S have been rising for decades and are higher than other developed nations like Canada and Britain. Recent figures from the Centers for Disease Control and Prevention revealed that more women in the United States are dying from pregnancy-related causes, out of which 3 in 5 cases are often preventable. In these cases, most deaths are caused by obstetric emergencies such as amniotic fluid embolism and severe bleeding. In light of such problems, increasing efforts to increase access to effective obstetrics or gynecological care could open a new growth stream for the women health devices market.
Strict birth control laws
The United States recent abortion laws have managed to spark massive outrage among women worldwide, which is presumed to impact the revenue graph of the regional women health devices industry. Alabama’s recent bill imposes an outright ban on abortion, enforcing an imprisonment of up to 99 years in prison for those who commit it. Although other states haven’t imposed outright bans, they have passed heartbeat bills that prohibit the procedure after six to eight weeks of pregnancy once a fetal heartbeat is detected. However, these laws don’t prevent effective forms of temporary and permanent contraception methods like pills or sterilization. According to a report by the Global Market Insights, Inc. women health devices market share from the female sterilization segment is expected to attain a CAGR of more than 6.7% from 2019 to 2025.
Lack of awareness pertaining to preventive self-care
It is challenging for modern women to juggle between family and work-life in their day-to-day schedule, that they often find it hard to invest time in self-care measures, which in turn, promotes the growth of the worldwide women health devices industry. With increasing age, women are affected by several hormonal and lifestyle factors such as complications with pregnancy, stress, and menopause which make them susceptible to severe medical conditions. A new report released by CDC indicated that more middle-aged women died from heart diseases in the last decade compared to any other age group or gender. An effective measure to reduce the risk is to have one’s blood pressure and cholesterol levels checked regularly. Thankfully, the rising influence of social media and other internet mediums have helped to raise awareness pertaining to self-care and preventive measures among the female population. This trend could boost the demand for advanced diagnostic and therapeutic devices in the coming years and in doing so, augment the women health devices industry growth.
Initiatives concerning women’s health
Several initiatives implemented by the governments and organizations worldwide to raise awareness pertaining to women health are projected to generate considerable demand for women health products. For instance, Senator Kamala Harris is reportedly reintroducing the Maternal Care Access and Reducing Emergencies Act to effectively tackle maternal mortality among ethnic minorities. Such initiatives can improve accessibility to effective healthcare for female minorities and women under lower income margins, which could propel the women medical devices market demand in the foreseeable future.
Presently the contemporary society is being bombarded with ideologies regarding women’s right to effective healthcare, which is enabling women throughout the world to pursue proper healthcare services. In addition, the burgeoning female workforce, especially in developed and emerging economies, is empowering women to invest more toward their wellbeing, hence augmenting the revenue influx for the women health devices industry. Such trends would drive the demand for advanced diagnostics, therapies, and healthcare infrastructure, thereby fueling industry growth. The report by Global Market Insights, Inc. projects women health devices market to surpass $42.5 billion by 2025.
