Ovarian Cysts Market - Overview
The ovarian cysts market insights report has calculated the industry size at USD 0.5 billion in 2022. The market for ovarian cysts is anticipated just to boost from USD 0.6 billion in 2023 to USD 3.3 billion by 2032, with a compound annual growth rate (CAGR) of 23.5% over the time frame anticipated (2023-2032).
Ovarian cysts are closed, sac-like structures filled with a liquid or semisolid substance within the ovary. These cysts are usually reported in the ovulating females and generally do not cause any medical complication. However, menopausal development of the ovarian cysts is also possible. In such conditions, the risk of ovarian cancer increases.
Ovarian cysts is a condition with high risks for ovarian cancer. Most of these cysts are discovered during a routine pelvic exam. The frequency of ovarian cysts is about 1.8% in children aged between 5-9 years and 18.8% in those who aged between 10-18 years. Furthermore, it is estimated that with the onset starts from adolescence and as the age increases the frequency of ovarian cysts increases with a range between 3.8 %- 31.3%. Such trends in the prevalence of the ovarian cysts are one of the major factors driving the market growth. Moreover, rising healthcare expenditures and increasing awareness about woman health boost the market growth. However, lack of awareness and low per capita healthcare expenditure in the developing countries may restrain the market growth.
Segmentation
The global ovarian cysts market is segmented on the basis of type, diagnosis, treatment, and end users.
On the basis of the type, the market is segmented into functional cysts, non-functional cysts, and others. The functional cysts segment, by type, is sub-segmented into the follicular cyst, corpus luteum cyst, and others. The non-functional cysts segment, by type, is sub-segmented into dermoid cysts, cystadenomas, endometriomas, and others.
On the basis of diagnosis, the market is segmented into imaging, CA-125 blood test, laparoscopy, and others. The imaging segment is sub-segmented into CT scan, MRI, ultrasound, and others.
On the basis of the treatment, the market is segmented into medication, polycystic ovary syndrome (PCOS) drugs, pain relievers, surgery, and others. The pain relievers segment is sub-segmented into acetaminophen, non-steroidal anti-inflammatory drugs, opioids, and others.
On the basis of the end users, the market is segmented into hospitals & clinics, medical institutes, research organization, and others.
Global Ovarian cysts Market -Regional Analysis
Global Ovarian cysts market, on the basis of regions is divided into Americas, Europe, Asia Pacific and Middle East and Africa.
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. 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. Regionally, Europe is divided into Western Europe and Eastern Europe. Western Europe holds the major share of the regional market, which is majorly contributed by Germany, the U.K., and France. However, Eastern Europe is the fastest growing region due to the huge opportunities in the untapped market.
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.
On the other hand, the Middle East & Africa holds the least share of 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.
Global Ovarian cysts Market -Top Key Players
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 firms mentioned in the ovarian cysts market outlook report at the forefront of competition in the global market and are profiled in MRFR Analysis.
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