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The PCOS diagnostic Market is estimated to be valued at US$ 710.0 Mn or Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The PCOS diagnostic market mainly consists of diagnosis tests and devices which are used to diagnose Polycystic Ovary Syndrome (PCOS) in women. Some of the major diagnostic tests include pelvic ultrasound, blood tests, and endocrinological visits. The ultrasound imaging helps in detecting ovarian cysts and enlarged ovaries which are key symptoms of PCOS. Rising awareness about early diagnosis and management of PCOS is expected to drive the demand for diagnostic tests and devices over the forecast period.
Market Dynamics:
The PCOS diagnostic market is driven by two key factors. Firstly, increasing incidence of PCOS globally is propelling the need for effective diagnostic measures. As per estimates, around 5-10% of women of reproductive age suffer from PCOS worldwide. Early diagnosis helps in timely management of the condition and related health issues like infertility, diabetes, cardiovascular diseases etc. Secondly, ongoing research efforts to develop advanced diagnostic tools are further fueling the market growth. Several companies are focusing on biomarker research to identify novel blood tests for accurate PCOS diagnosis. Introduction of such improved diagnostic solutions would positively impact the market expansion during the forecast period. Newer non-invasive diagnostic methods are in pipeline which are expected to gain popularity in coming years.
Segment Analysis
The PCOS diagnostic market is segmented into diagnosis and treatment. The diagnosis segment currently dominates the market due to increasing awareness about early diagnosis of PCOS and rising adoption of diagnostic tests. Within diagnosis, ovarian imaging sub-segment holds the largest share as ultrasound tests are inexpensive and non-invasive way to detect ovarian cysts which is a prominent symptom of PCOS.
PEST Analysis
Political: Government support in terms of favorable regulations for approval of diagnostic methods and devices as well as funding for research activities is boosting the market growth.
Economic: Rising healthcare spending coupled with increasing per capita disposable income is driving the demand for advanced diagnostic tests for effective PCOS treatment.
Social: Growing awareness about PCOS symptoms and management through social media and awareness campaigns is propelling the women population to opt for early diagnosis.
Technological: Introduction of novel diagnostic technologies like ovarian surface antral follicle count testing through ultrasound and diagnostic kits with high sensitivity and accuracy is fueling the market expansion.
Key Takeaways
The global PCOS diagnostic market is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing awareness about women health issues and rising obesity rates. North America dominates the market currently due to advanced healthcare infrastructure and frequent new product launches. Europe is expected to witness fastest growth due to large research funding and rising cases of obese women population.
Key players operating in the PCOS diagnostic market are AbbVie, Novartis AG, Bausch Health Companies Inc., Galapagos NV, EyePoint Pharmaceuticals, Inc., Clearside Biomedical, Tarsier Pharma Ltd, Santen Pharmaceutical Co., Ltd., Bausch & Lomb Incorporated, Sanofi, Regeneron Pharmaceuticals, and Inc., Alimera Sciences. Increase in strategic collaborations between diagnostic device manufacturers and pharmaceutical companies is anticipated to boost the market growth.
