Women’s Health Devices Market Research Report 2024

Women’s Health Devices Market Synopsis

Women’s Health Devices Market Size Was Valued at USD 32 Billion in 2023, and is Projected to Reach USD 55.46 Billion by 2032, Growing at a CAGR of 6.03% From 2024-2032.

Are the devices that are being created to address women's monthly health concerns. Menstrual tracking, pulmonary care, thyroid level detection, weight control, aesthetics and beauty management, and other services are among them. Beyond the grind, women's health has difficulties at different phases of life. Fortunately, changes are taking place in the healthcare system to meet these demands. A new generation of health devices for women is on the rise, with the goal of enabling them to take control of their own health. Menstrual health, a vital component of women's wellness, is the focus of these gadgets. Trackers keep an eye on cycles, forecast ovulation, and spot any possible hormone abnormalities. Pelvic floor health devices work to improve sexual performance and treat incontinence by strengthening the muscles. Real-time information about the health of the foetus is provided via pregnancy monitors, which ease worry and encourage wise decision-making. As breast pumps become more advanced, they meet the needs of nursing mums and facilitate a more seamless breastfeeding experience. Equally vital is mental wellness.

Women can recognise and control stressors with the aid of smartwatches equipped with stress management functions. Apps for meditation that provide guided activities encourage emotional health and relaxation. The range of women's health gadgets is growing beyond niche applications. Wearable air quality monitors can be especially helpful for women with respiratory disorders, and smart scales with bioelectrical impedance analysis offer a more detailed view of body composition. This surge of innovation demonstrates a commitment to women's health. Through the provision of self-monitoring tools, early detection capabilities, and proactive management tools, these devices enable women to more confidently and controllably navigate the intricacies of their health journey. In every way, the medical device sector is expanding. The healthcare industry is experiencing exponential growth in several categories, such as in-vitro diagnostics, wearable medical devices, biosensor-based devices, and more, due to advancements in technology and the entry of major IT giants. An invention to increase healthcare affordability and accessibility is made every day. Most people in the 20–60 age range are actively transforming the healthcare system. This has also brought about a significant transformation in the medical device development sector. Ultrasonography, genetic testing, minimally invasive surgery (MIS), and assisted reproductive technology (ART) are among the technologies frequently utilised in women's healthcare.

Significant progress has been made in these technologies over time, including new forms of colour flow imaging and three- and four-dimensional ultrasonography, next-generation sequencing, cell-free DNA testing, pre-implantation genetic testing, robotic surgery, and pelvic embolization. Personalised medicine, high-intensity focused ultrasound, and whole exome sequencing (WES) are some more cutting-edge technologies (HIFU). Furthermore, machine learning (ML) and artificial intelligence (AI) have been applied to picture identification to aid in diagnostic and prediction analysis.

Top Key Players :

“Kindbody (North America), Maven Clinic (North America), Mira Fertility (North America), Sprout Wellness (North America), Boston Scientific Corporation (North America), CooperSurgical Inc. (North America), Hologic Inc.  (North America),GE Healthcare (North America),Cardinal Health (North America),Carestream Health (North America),BD (Becton, Dickinson and Company) (North America),Johnson & Johnson (North America),Abbott Laboratories (North America),Zimmer Biomet (North America),Elvie (Europe) ,Clue (Europe) ,Flo Health (Europe) ,Ava Women (Europe) ,Lalo (Europe) ,Pregna (Europe) ,F. Hoffmann-La Roche Ltd (Roche) (Europe),Coloplast A/S (Europe),Phillips (Europe),Siemens Healthineers (Europe),Medtronic (Europe) and Other Active Players.”

Women’s Health Devices Market Trend Analysis

Digital Health Technologies Creating Demand for Devices

• By improving end-user experiences and expanding access to care, digital health technologies (DHTs) provide a better way to deliver healthcare. DHTs are defined by the World Health Organisation (WHO) as specific functions of digital technology used to accomplish health goals. These goals are categorised into four main groups according to the major user that is the target: customers, healthcare practitioners, managers of health systems or resources, and data services. The United States Food and Drug Administration (FDA) defines DHTs as a broad category of health-related technologies, such as wearable technology, telehealth and telemedicine, mobile health (mHealth), and health information technology (IT).

• DHTs are also known to encourage interpersonal contact, foster social connectivity, and provide individuals with flexible employment and study options. However, not every segment of the population has equal access to these technologies, primarily because the populations most likely to benefit from DHTs are also the ones most likely to be excluded from the digital economy. Women, those with disabilities or poor health, and those from lower socioeconomic backgrounds typically have less access to the Internet and fewer digital skills, which can negatively impact their capacity to use and participate in DHTs and reap the benefits of using them. This "digital divide" separates individuals who are involuntarily excluded from digitally connected technologies from others who have access to them.
• The coronavirus illness epidemic and the ensuing deterioration of digital access have made it more prominent. Given how DHTs are integrating into contemporary health systems, this issue becomes even more serious. The use of digital technologies for women's health in the general care system has been linked to improvements in women's empowerment which is defined as having a positive self-concept, self-esteem, and self-worth and equality which is defined as having equal rights to economic opportunities, education, and health care. This relationship has been highlighted in recent publications and reports. Extensive studies have also examined the use of artificial intelligence in endometriosis diagnosis, the usage of phone apps for pregnancy monitoring, and the utilisation of digital health to address demands in women's health and maternal health care.
• It also indicates that DHTs help women manage stress, anxiety, depression, and other mental health conditions. They also facilitate improved self-management through real-time vital sign surveillance, medication adherence, and lifestyle modifications. Significant research conducted in North America and the Middle East has shown the amazing advantages of these technologies in improving the general health of female patients and healthcare providers (by boosting productivity and optimising workflow, facilitating access to information and decision support, and serving as a tool for wellness and mental health support), as well as in creating a more equal and empowered environment for women to use technology and technology devices.

Restraints

Inadequate Market Penetration

• Innovative women's health technologies may face significant challenges in their quest for market penetration. Consider a business creating a ground-breaking tool to solve a typical issue with women's health, such as an improved breast pump or a new kind of pregnancy monitor. Even though the product can change lives, the corporation may have difficulty connecting with its target market.
• Spreading awareness is one of the main challenges. Women cannot look for the gadget or ask their doctors about it if they are uninformed that it exists. There are several reasons for this lack of knowledge, such as a restricted marketing budget or the societal stigma associated with specific women's health conditions. For example, a period pain treatment device may not catch on because it is uncomfortable to talk about menstruation in public.
• Also, other factors may restrict the device's reach even in cases where women are aware of it. A major worry is affordability. If the price of the item is too high, many potential buyers might not be able to afford it. Furthermore, there may already be well-established competitors in the industry with reputable brands and loyal customer bases. It can be challenging to break into this market with a new device. Regulatory obstacles may introduce additional complication. Medical device approval procedures can be costly and time-consuming, which further postpones a product's release.
• Medical device development is generally connected with large, fixed costs, hence low sales resulting from low penetration can result in substantial financial losses. In the worst situation, the business might have to give up on the product completely, which would mean that a potentially useful technology would go unutilised. This could entail putting in place focused awareness-raising marketing strategies, making sure the product is priced competitively, and effectively negotiating the regulatory environment. Companies can make sure the women who need their cutting-edge products most get them by overcoming these barriers.

Opportunity

Increased Female Disease Requires the Use of Check-Up Instrument

• One of the main factors propelling the growth of the women's health devices market is the increase in women's unfavourable health conditions. There are multiple reasons for this. First off, chronic illnesses like diabetes, heart disease, and cancer are becoming more common among women. Changes in lifestyle, such as a rise in inactivity and poor eating patterns, may be connected to this. Second, more women are seeking diagnosis and treatment because of increased knowledge of women's health issues. This increases the need for tools for managing and identifying these illnesses early on. For example, there has been a notable increase in the number of breast cancer diagnoses, which has increased the demand for diagnostic instruments and therapeutic devices. Lastly, patient convenience is becoming a more important priority for the market. The creation of home healthcare products tailored to the unique medical requirements of women is being fueled by this trend. Therefore, it is anticipated that the market for women's health devices will continue to expand as the demand for efficient management of women's health issues increases.

• Sexual and reproductive health (SRH) is frequently the only aspect of women's health that is considered, which significantly underrepresents the burden of illness on women. According to this research, women's health8 include both general health disorders that may affect women disproportionately or differently (greater disease burden) and sex-specific illnesses (menopause and endometriosis, for example). According to research, 5% of women's health burden is related to SRH and maternal, neonatal, and child health (MNCH), though this is likely underestimated. It is predicted that health disorders that are more common or express differently in women account for an additional 56% of the burden. Conditions that do not impact women differently or disproportionately account for 43% of the remaining cases. A sex-specific illness is especially likely to affect women between the ages of 15 and 50. Although women experience various health issues throughout their lives, working-aged women account for about half of the health burden, which frequently impairs their capacity to make ends meet and provide for their children.

Challenges

Information Security and Privacy Leak Concern

• Information Security and Privacy With a major concentration of data-collection devices and apps, these areas are leading the way in FemTech innovation. Unauthorised use of private health information and data security breaches, however, continue to be major worries. The cost and ease of use Cost can be a hurdle even in cases where the economy is strong. Out-of-pocket costs might be substantial and insurance coverage for women's health devices may be restricted. It may affect low-income women disproportionately. Clinical Validation Limited Innovation sometimes moves more quickly than clinical research. For innovative devices especially those in the FemTech sector sufficient clinical validation is essential to gaining the confidence of users and medical professionals. Stigma and Ignorance Developing nations frequently have more ingrained social stigmas related to women's health difficulties.
• Digital Gap The applicability of digital women's health devices can be severely limited by unequal access to technology and the internet. Closing this disparity is necessary to guarantee healthcare for all. The Regulatory Environment In certain developing nations, FemTech device regulations may be in their infancy or non-existent. For these technologies to be safe and effective, regulations must be established that are both explicit and consistent. Low level of disposable income Women may not have the money to invest in women's health gadgets in several developing nations. Absence of qualified medical personnel in developing countries, there may not be as many medical professionals on hand to advise women on how to use these devices safely.
• To increase user trust, secure systems and data privacy education are essential. Investigation into affordable device options and advocacy for insurance coverage. Financing for clinical research to guarantee the development of evidence-based products. Public awareness programmes aimed at dispelling stigmas around women's health. To close the digital divide, infrastructure investment is needed. The establishment of clear legislation through collaboration among legislators, healthcare providers, and women's health organisations. In the future, women's health devices will greatly enhance health outcomes for women worldwide if these obstacles are overcome.
• Advertising and Marketing Conduct The marketing of health devices for women must be compassionate and refrain from demeaning women's bodies or upholding unattainable beauty standards. It is essential to spread body positivity and concentrate on empowering themes related to health and wellbeing. The Future of Women's Health and Work, Access to and use of women's health devices may necessitate creative solutions as the nature of work changes and more women work remotely or according to non-traditional schedules.  One possible area of attention could be on creating wearables that blend in discreetly with hectic lifestyles.