A report published by Grand View Research, Inc. suggests that the global gynecological device market would reach nearly USD 20.6 billion by 2022. The market would grow at around CAGR of 15.6% during the forecast period (from 2017 to 2022). Increasing target population base across the globe along with the rising awareness regarding early diagnosis and availability of treatments can drive the global market. Furthermore, rising adoption of gynecological procedures due to high prevalence of gynecological diseases such as polycystic ovary syndrome or PCOS, cervical cancer, uterine cancer, and other conditions is also likely to spur the market expansion over the coming years. For example, according to the report by the Disease Control and Prevention (CDC), the number of obstetrical treatments performed in 2014 was more than 7.3 million in the United States alone.
In addition, rising occurrences of sexually Transmitted Diseases or STDs have also resulted in an increased demand for gynecological treatments. On the other hand, strict regulatory approval procedures to ensure safety may have a negative impact on the global gynecological device market during the forecast period. Additionally, improved drug therapy and rapid development of alternative therapies like personalized medicines are also restraining the market growth. However, the advent of technologically advanced devices that help increase the efficiency of minimally invasive surgeries along with the development of advanced imaging devices like 3D endoscope is likely to propel the market expansion. Moreover, rising number of C-section surgeries due to various health issues caused by changing lifestyles is also likely to contribute toward the development of the gynecological device market in coming years.
Full Research Report On Gynecological Device Market Analysis: https://www.grandviewresearch.com/industry-analysis/gynecological-device-market
The global gynecological device market is categorized on the basis of product type and regions. Based on product type, the market is fragmented into endometrial ablation devices such as radiofrequency ablation devices, surgical devices (gynecological endoscopy devices such as Hysteroscope), female sterilization or contraceptive devices such as temporary or permanent birth control, fluid management systems, diagnostic imaging systems, and hand instruments such as disposable and reusable biopsy forceps. On the basis of geographies, the market is divided into Latin America, Middle East and Africa (MEA), North America, Asia Pacific, and Europe.
The North America region is anticipated to continue leading the global market for gynecological devices during the forecast years. Quick adoption of advanced technologies in the field of gynecology along with the availability of skilled professionals are the key factor driving the regional growth. The presence of highly sophisticated healthcare infrastructure across the region is likely to spur the regional market expansion. Positive reimbursement coverage policies by various government bodies and private firms are also projected to augment the regional market in the years to come.
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The Asia Pacific regional gynecological devices market is anticipated to expand at around 10.6% CAGR from 2017 to 2022. India and China, being the world’s highly populated nations, are expected to create numerous growth opportunities for the market in near future. Increasing number of gynecological surgeries, mainly due to the rapidly expanding medical tourism in the region is also expected to drive the market in the forthcoming years. Various initiatives by regional governments for population control, such as awareness drives regarding availability of gynecological treatments and overall women’s health have resulted in an increased demand for contraceptive measures. This factor is also likely to spur the regional market development over the forecast period.
However, countries such as Vietnam and Bangladesh still have a high prevalence of sexually transmitted diseases, especially among young population base. The lack of easy access to contraceptive measures and awareness regarding disease prevention are the major contributing factors for this high prevalence of STDs in the region. This factor is also said to have a positive impact on the growth of the Asia Pacific gynecological devices market in the forthcoming years.
The major companies operating in the global market for gynecological devices include Boston Scientific Corp.; Karl Storz GmbH & Co. KG; Richard Wolf GmbH; Hologic, Inc.; and Medtronic Public Limited Company.
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