by The Pcos diagnostic market is estimated to be valued at US$ 3.53 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:-
The Pcos diagnostic market comprises products that are used for the diagnosis of polycystic ovary syndrome (PCOS) in women. PCOS is one of the most common endocrine disorders among women of reproductive age. Some key products in this market include ovulation prediction kits, ovarian reserve testing kits, progestin, blood tests such as luteinizing hormone (LH) and follicle-stimulating hormone (FSH) tests, ultrasound, and genetic testing. The diagnosis of PCOS involves evaluating symptoms, medical history, and physical exam along with blood tests and ultrasound.
Market Dynamics:-
The key drivers fueling growth of the Pcos diagnostic market are rising prevalence of PCOS globally and increasing awareness about its diagnosis. According to the estimates of PCOS Foundation, around 1 out of 10 women suffers from PCOS. Its prevalence is about 5-10% in women of reproductive age. With growing health burden of PCOS, demand for diagnostic testing is increasing. Another major driver is the non-invasive nature of diagnostic tests. Ovulation prediction kits and ovarian reserve testing kits can be easily used at home and provide quick results without requiring in-clinic visits. This convenience factor is boosting adoption of home-based diagnostic options. Additionally, technological advancements in diagnostic modalities such as high-resolution ultrasound is also fueling market growth. However, low awareness about symptoms of PCOS in developing countries hampers market growth to some extent.
SWOT Analysis:-
- Strength: The PCOS diagnostic market is driven by increasing prevalence of PCOS disorder among women population globally. Rapid advancement in diagnostic techniques like ultrasound, biomarkers and hormones level testing has made the diagnosis more effective and efficient. Rising awareness about women’s health and availability of diagnostic services will further aid the market growth.
- Weakness: Lack of awareness about PCOS disorder especially in developing nations limits the market growth potential. High cost associated with advanced diagnostic devices hampers its adoption in low income countries. Also, ambiguous symptoms in early stages make conclusive diagnosis challenging.
- Opportunity: Growing public-private investments to enhance women healthcare services across globe presents lucrative opportunities. Favorable government initiatives and programmes to spread awareness regarding reproductive health offer scope to market players. Also, development of affordable POC diagnostic kits suitable for low-resource settings opens new avenues.
- Threats: Delay in approvals and stringent regulatory guidelines for new diagnostic tests extends time-to-market and increase costs. Presence of alternative treatment options poses competitive threat. Economic slowdown during pandemic negatively impacts the market.
Key Takeaways:-
The Global Pcos Diagnostic Market Growth is expected to witness high, exhibiting CAGR of 5.0% over the forecast period, due to increasing prevalence of PCOS disorder among women globally. As per estimates, approximately 1 in 10 women of reproductive age suffers from PCOS disorder.
Regional analysis:-
North America dominates the global PCOS diagnostic market currently owing to robust healthcare infrastructure and availability of advanced diagnostic facilities. Asia Pacific is estimated to witness highest CAGR during the forecast period due to rising healthcare expenditure, large patient pool and increasing awareness regarding PCOS disorder. Growing adoption of POC diagnostic devices supplements the regional market growth.
Key players:-
Key players operating in the Pcos diagnostic market are Roche Diagnostics, Abbott Laboratories, Quest Diagnostics, Thermo Fisher Scientific, Siemens Healthineers, Bio-Rad Laboratories, Agilent Technologies, Hologic, Inc., F. Hoffmann-La Roche Ltd., IGENOMIX, Myriad Genetics, Inc., Ansh Labs, Diagnostica Stago, Beckman Coulter, Inc., Randox Laboratories Ltd.. These players are focusing on new product launches, collaborations and geographic expansions to consolidate their market positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
