Transparency Market Research (TMR) has published a new report titled, “Gynecology Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the gynecology devices market was valued at US$ 16,840.95 Mn in 2017. It is projected to expand at a CAGR of 4.1% during forecast period. The global gynecology devices market is anticipated to be driven by technological advancements and shifting trend from invasive to minimally invasive surgery during the forecast period. The gynecology devices market in Asia Pacific is expected to expand at a high CAGR of 4.7% due to high prevalence of diseases, improvements in the health care sector, and increase in focus on research and development.
Worldwide increase in the prevalence of gynecological disorders
Gynecologic disorders affect the female reproductive system. The most common symptoms of gynecologic disorders include pelvic pain, vaginal itching, vaginal discharge, abnormal vaginal bleeding, and breast pain and lumps. The significance and severity of these symptoms often depend on age, as these symptoms may be related to the hormonal changes that occur with aging.
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Among other prominent gynecological diseases, sexually transmitted disease (STD) is the most common and critical – the most common STD among women is pelvic inflammatory disease. In the U.S. alone, more than one million women suffer from this disorder in their lifetime, followed by chlamydia – a sexually transmitted infection of the vagina, which, if left untreated, develops into pelvic inflammatory disease. Gynecological disorders may or may not be related to the menstrual cycle, which prominently include menstrual cramps and endometriosis (abnormally located patches of tissue that is normally located only in the lining of the uterus). Additionally, gynecological cancers are also common among women around the globe. Endometrial cancer and ovarian cancer are highly common among women. Therefore, increase in the prevalence of conditions mentioned above, particularly those requiring surgical intervention, are likely to increase the uptake of gynecological devices.
Increase in patient preference for minimally invasive surgeries
Surgeries by definition are invasive and need incision of a certain size. Gynecological surgery once meant big painful incisions, longer recovery periods, and intense need for monitoring and heavy scarring. Minimally invasive procedures use advanced technology to reach internal organs through small incisions, which cause less pain, low risk of infection, shorter hospital stay, quicker recovery time, less scarring, and reduced blood loss as compared to traditional surgeries. Consequently, since the last few years, open exposure surgical hysterectomies (“C-sections”) are being increasingly replaced with routine, minimally invasive hysterectomies that necessitate the use of an electric morcellator surgical device that is commonly utilized by gynecological surgeons. Morcellator is a rotary blade device that shreds a large mass (a presumed fibroid within the uterus) through small port incisions, either laparoscopically or with use of a da Vinci robot. These devices are effective alternatives to invasive procedures.
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Therefore, demand for minimally invasive procedures, such as laparoscopy and endoscopy, increased. Both have evolved philosophically as well as technologically, wherein a wide variety of surgeries can be performed. Therefore, rise in the number of minimally invasive procedures globally, is likely to have a positive impact on the global gynecology devices market.
The global gynecology devices market has been segmented based on product type and region. Furthermore, in terms of product type, the market has been divided into surgical devices, hand instruments, diagnostic imaging systems, and gynecological chairs. The surgical devices segment is likely to account for a leading share of the global market during the forecast period, owing to increase in prevalence of minimally invasive gynecological procedures and rise in efficacy of endometrial ablation. This, in turn, has fuelled the demand for endometrial ablation surgical devices.
Huge patient base of gynecology disease in Asia Pacific to create opportunities in market
In terms of region, the global gynecology devices market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to hold a leading share of the global market during the forecast period, owing to high adoption of technological advanced products, presence of key players, and high health care expenditure. Europe is anticipated to account for a significant share of the global market between 2018 and 2026. Increase in incidence of gynecological diseases is expected to fuel the market in the region during the forecast period. The market in Asia Pacific is likely to witness robust expansion during the forecast period, due to surge in health care expenditure. Moreover, increasing focus of key players on expansion in Asia Pacific, large untapped population in the region, and rising awareness about health care drive the gynecology devices market in Asia Pacific. The gynecology devices market in Latin America and Middle East & Africa is anticipated to expand at a steady pace from 2018 to 2026.
Key players profiled in this report are Boston Scientific Corporation, CooperSurgical, Inc., Ethicon (Johnson & Johnson), Hologic, Inc., Medtronic, Olympus Corporation, Richard Wolf Gmbh, Stryker Corporation, and Karl Storz Gmbh & Co. KG. Companies operating in the global gynecology devices market focus on strategic collaborations to develop new products in emerging markets such as Asia Pacific and Latin America.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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