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Growing awareness about PCOS diagnostic market

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Sneha
Growing awareness about PCOS diagnostic market

The global PCOS diagnostic market is estimated to be valued at US$ 3.53 Bn 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:-

PCOS diagnostic involves various diagnostic tests to confirm the presence of Polycystic Ovary Syndrome (PCOS) in women experiencing irregular periods, excess hair growth, acne, weight gain, fertility issues. Diagnostic tests include ultrasound, blood tests to check hormone levels and other blood tests to check for insulin resistance and diabetes. PCOS is becoming more prevalent globally with changing lifestyle and dietary habits. Early diagnosis helps women manage symptoms and prevent long term health complications.

Market key trends:-

One of the key trends in the PCOS diagnostic market is the rising adoption of ultrasound as the first-line diagnostic test. Transvaginal ultrasound has emerged as the gold standard for diagnosis of PCOS as it helps visualize the ovarian morphology and check for the presence of cysts. Blood tests to check hormone levels such as testosterone, DHEAS, insulin and diabetes markers are also commonly used along with ultrasound for diagnosis confirmation. With growing awareness, more women are opting for early diagnostic tests for PCOS prevention and management. This is expected to drive the demand for diagnostic tests and bolster the growth of the PCOS diagnostic market over the forecast period.

Porter's Analysis:-

  • Threat of new entrants: The threat of new entrants in PCOS diagnostic market is moderate as it requires huge investments and technological expertise for research and development activities. However fragmented nature of market provides opportunities for new players.
  • Bargaining power of buyers: The bargaining power of buyers is moderate in this market. Large set of buyers and availability of alternative diagnostics options provide bargaining power to buyers.
  • Bargaining power of suppliers: The bargaining power of suppliers is low as there are numerous suppliers for raw materials and low switching costs.
  • Threat of new substitutes: Threat of substitution is low for PCOS diagnostic market as there are limited alternative for diagnosis of PCOS condition.
  • Competitive rivalry: The market witnesses high competitive rivalry among existing players due to presence of numerous global and regional players offering similar diagnostic solutions.

Key Takeaways:-

The Global PCOS Diagnostic Market Demand is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing awareness about PCOS condition and availability of various diagnostic options.

Regional analysis: North America dominates the global PCOS diagnostic market owing to high awareness levels about PCOS, availability of advanced healthcare infrastructure and presence of leading market players in the region. Asia Pacific exhibits fastest growth during the forecast period rising awareness, developing healthcare facilities and presence of untapped opportunities.

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, F. Hoffmann-La Roche Ltd., IGENOMIX, Myriad Genetics, Ansh Labs, Diagnostica Stago, Beckman Coulter, Randox Laboratories Ltd.

 

Read More - https://www.trendingwebwire.com/pcos-diagnostic-market-share-and-trends-analysis/

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