Ovarian Cysts Market Share Overview : By Type (Functional Cysts, Non-Functional Cysts) By Diagnosis (Imaging, CA-125 Blood Test, Laparoscopy) By Treatment (PCOS Drugs, Surgery) By End Users (Hospitals, Research Organization) – Global Forecast till 2023
The Global Ovarian Cysts Market Share is expected to grow at an approximate CAGR of 8.2% during the forecast period.
Ovarian cyst is a very common condition where a fluid filled sac develops on a woman’s ovary. These cysts are usually reported in the ovulating females and generally do not cause any medical complication. However, if the cysts are big and causing symptom, then there may be a requirement of a therapy or surgical removal. Sometimes development of the ovarian cysts is also possible due to menopause. In such conditions, there is an increased risk of ovarian cancer.
Diagnosis of most of these cysts is done during a routine pelvic exam. The frequency of development of ovarian cysts differs in all age groups. The frequency of ovarian cyst was recorded 1.8% in children aged between 5-9 years where as 18.8% in girls aged 10 to 18 years as per the reports published in 2017 by Journal of Clinical Research in Paediatric Endocrinology. The report also states that, the risk of ovarian cyst increases as the age progresses which ranges from 3.8% to 31.3% in adults. Increased onset of ovarian cysts is one of the major factors that is pushing the growth of the global ovarian cyst market.
Apart from that, increased healthcare expenditures in developing countries, and increasing awareness about women health is boosting the growth of the market. That being said, there are still few hurdles for this market. The low per capita income, lack of medical facilities and less awareness about the condition in many of the underdeveloped regions is thwarting the market growth to an extent. Globally, the ovarian cysts market is estimated to grow at the rate of about 8.3% from 2017 to 2023.
Global Ovarian Cyst Market- Competitive Analysis
Pfizer Inc. (U.S.), Teva Pharmaceutical Industries Ltd. (The Middle East & Africa), Quest Diagnostics Incorporated. (U.S.), Novartis AG (Europe), General Electric Company (Europe), Merck & Co., Inc. (U.S.), Boston Scientific Corporation (U.S.), and Medtronic (U.S) and others are some of the prominent players at the forefront of competition in the global ovarian cysts market and are profiled in MRFR Analysis.
The market for ovarian cyst is well established market with number of companies operating in this market. There are large number of companies involved in the development of the products including the drugs, molecules, therapies which are commonly used in the treatment of ovarian cyst. Some of the key developments by companies in this market are mentioned below.
Global Ovarian cysts Market – Regional Analysis
The Americas holds the largest share of the global ovarian cysts market. Increasing prevalence of the disease, rising per capita healthcare expenditure and increasing awareness for the woman health are some of the major drivers of the market growth within the region. In 2015, according to the Centres for Disease Control and Prevention, in the U.S. the total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which accounted for USD 3.2 trillion. Moreover, developed healthcare sector and availability of huge funds research and development boosts the market growth. However, late diagnosis, and lack of awareness may restrain the market growth during the forecast period. North America dominates the Americas ovarian cysts market due the presence of market players such as Quest Diagnostics Incorporated and Medtronic along with the developed economies like the U.S. and Canada within the region. However, South America shows the fastest growth in the market due to the presence of huge opportunities for the development of the market.
Europe is the second largest ovarian cysts market, which is followed by Asia Pacific. Availability of funds for research, huge patient population, increasing healthcare expenditures, well-developed healthcare sector and government support for research & development are projected to drive the market growth during the forecasted period.
Asia Pacific is the fastest growing region in the global the market due to the presence of a huge patient population, continuously developing economies like India and China, and presence of huge opportunity in the market. Moreover, favorable government policies and increasing healthcare expenditures fuel the market growth within the region.
At last, the Middle East & Africa region contributes least in the global ovarian cysts market due to the presence of poor economy, especially, in the African region. Majority of the market of this region is held by the Middle East due to the well-developed healthcare sector and huge healthcare expenditure by the presence of economies like Kuwait, Saudi Arabia, Dubai, and Qatar.