The PCOS diagnostic market is estimated to be valued at US$ 710.0 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
PCOS diagnostic refer to diagnostic tests used to diagnose polycystic ovary syndrome (PCOS) in women. Key diagnostic tests include ultrasound, blood tests and physical examinations to check for signs and symptoms of PCOS such as irregular menstrual cycles, excess hair growth etc. The increasing awareness about PCOS and availability of diagnostic tests are driving the growth of the market.

Market Dynamics:
Increasing awareness about PCOS: Growing awareness about polycystic ovary syndrome (PCOS) symptoms and importance of early diagnosis through various social media platforms and government initiatives is driving the growth of the market. As per the PCOS Awareness Association, around 1 in 10 women suffer from PCOS. With growing access to internet and smartphones, women are more aware and informed about PCOS and seek medical advice for diagnosis and treatment.
Rising healthcare expenditure: Rising household income levels and improving access to health insurance in developing regions is resulting in higher spending on healthcare. People are willing to spend more on diagnostic tests for various medical conditions including PCOS to seek early treatment. This rising healthcare expenditure favors the growth of the PCOS diagnostic market.

SWOT Analysis

Strength: The availability of multiple diagnostic options and convenient testing such as imaging, blood tests, ultrasound etc allow comprehensive diagnosis of PCOS. Increasing awareness about PCOS among women population facilitates early diagnosis. Growing obesity rates fuel the risk of developing PCOS, driving the need for effective diagnostic measures.

Weakness: Limited awareness about PCOS among women in developing nations is a major barrier to early diagnosis. High cost of certain advanced diagnostic techniques like MRI scan restricts their widespread use in low income settings. Variations exist in diagnostic guidelines between different medical organizations, creating inconsistencies.

Opportunity: Rising healthcare expenditure of emerging economies provides growth opportunities for diagnostic market players to tap new customer base. Technological advancements enable development of novel and minimally invasive diagnostic tools. Growing obesity prevalence driven by sedentary lifestyles increases the at-risk population base for PCOS worldwide.

Threats: Stringent regulatory landscape for approval of diagnostic tests lengthens product launch timelines. Dominance of few institutional players intensifies the competition. alternatives like herbal medicines and nutritional supplements limit the reliance on conventional diagnostic measures.

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 obesity prevalence worldwide. Obesity is a key risk factor for PCOS, affecting over 40% of women with the condition. As per WHO, global obesity rates have nearly tripled since 1975, fueling the at-risk population base.

Regional analysis: North America dominated the market with over 30% share in 2023 due to favorable reimbursement policies and denser patient pool. However, Asia Pacific is estimated to register fastest growth owing to growing health awareness, rising medical tourism and expanding healthcare infrastructure across developing nations in the region.

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. Key players are focusing on new product launches and geographical expansion into emerging economies through collaborations.