NEW YORK, Aug. 8, 2022 /PRNewswire/ — As per Zion Market Research study, The global gynecology devices market size was worth USD 10,829.50 million in 2021 and is estimated to grow to USD 19,501.20 million by 2028, with a compound annual growth rate (CAGR) of approximately 10.30 percent over the forecast period.
Gynecology Devices Market: Overview
Gynecology is a study that deals with health problems related to the female reproductive system, such as the vagina, ovaries, and uterus, as well as the female breast. Increasing women’s population and lifestyle lead to an increase in various gynecological-related illnesses. The devices used to treat and diagnose these diseases are called gynecological devices. The growth of the global gynecological device market is driven by an increase in the number of gynecological diseases and the number of advanced women’s medical devices. However, restricted access to contraceptives and the strict regulatory approval process is hampering the market growth. In addition, robotics is one example of a computer system that assists in surgery. The incorporation of robotics by trained gynecologists increases the demand for a variety of surgical instruments. Cancer and other gynecological disorders can be successfully treated with innovative robotic technology. In addition, medical device manufacturers are committed to harnessing the power of robotic operations to increase profits. Therefore, the rapid driving force of automation technologies such as robotics in the treatment of gynecological diseases is expected to drive the growth of the gynecology device market.
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Key Industry Insights & Findings of the Gynecology Devices Market Reports:
- As per the analysis shared by our research analyst, the Gynecology Devices Market is expected to grow annually at a CAGR of around 10.30 % (2022-2028).
- Through the primary research, it was established that the Gynecology Devices Market was valued at approximately USD 10829.50 million in 2021 and is projected to reach roughly USD 19501.20 million by 2028.
- According to research data from the Institute for Health Metrics and Evaluation (IHME), about 8,640 deaths were caused by gynecological diseases in 2019, with 37% of the female population living with these diseases worldwide.
- The general bad reputation surrounding litigation, regulatory scrutiny, and the use of meshes can limit the growth of the pelvic organ prolapse and the market as a whole.
- The North American region holds the largest share of the global gynecology devices market due to increasing demand for gynecological surgery, increasing prevalence of female reproductive disorders, and growing technological advances in gynecological equipment.
Zion Market Research published the latest report titled “Gynecology Devices Market By Products (Gynecological Endoscopy Devices, Endometrial Ablation Devices, Fluid Management Systems, Female Sterilization & Contraceptive Devices, Hand Instruments, and Diagnostic Imaging Systems), By End Users (Hospitals, Diagnostic Centers, and Clinics), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028.“ into their research database.
Gynecology Devices Market: Growth Drivers
- Rise in Incidence of Gynecological Diseases.
The global population’s rising insurance coverage is driving the demand for healthcare payer services. Due to favorable government policies, it is also projected that developing nations like India will see a rise in health insurance coverage. For instance, the FDI cap in insurance was raised from 49 to 74 % as part of the Union Budget of 2021, and state-owned general insurance businesses received an infusion of USD 413.13 million to help them become more financially stable. Additionally, the substantial losses from the rise in healthcare frauds enhance the demand for healthcare payer services, fueling the global market expansion. A noticeable increase in health insurance enrollment has been noted, which benefits the global Gynecology Devices Market’s development.
Gynecology Devices Market: Restraints
- Concerns about the safety of pelvic organs to hamper the market growth.
Concerns about the safety of pelvic organ prolapse are expected to impede market growth over the forecast period. In Europe, it is advisable to use the vaginal mesh only in complex cases with no other alternative treatments. The general bad reputation surrounding litigation, regulatory scrutiny, and the use of meshes can limit the growth of the pelvic organ prolapse and the market as a whole.
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Global Gynecology Devices Market: Segmentation
- The global gynecology devices market is segregated on the basis of products, end-users, and region.
By products, the market is divided into gynecological endoscopy devices, endometrial ablation devices, fluid management systems, female sterilization & contraceptive devices, hand instruments, and diagnostic imaging systems. Among these, the gynecological endoscopy devices segment dominates the market, accounting for more than 45 percent of global sales.
By end-use, the market is classified into hospitals, diagnostic centers, and clinics. The hospital segment will dominate the market during the forecast period due to the development of medical institutions. Hospitals have been upgraded to the latest equipment and equipped with digital pathology and artificial intelligence. These technologies support communication between departments and enable cross-domain data exchange.
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List of Key Players in Gynecology Devices Market:
- Boston Scientific Corporation
- Ethicon Inc.
- Karl Storz Gmbh & Co. KG
- Cooper Surgical Inc.
- Hologic Inc.
- Medtronic plc
- Olympus Corporation
- Stryker Corporation
- Richard Wolf GmbH
- MedGyn Product Inc.
Key questions answered in this report:
- What are the growth rate forecast and market size for Gynecology Devices Market?
- What are the key driving factors propelling the Gynecology Devices Market forward?
- What are the most important companies in the Gynecology Devices Market Industry?
- What segments does the Gynecology Devices Market cover?
- How can I receive a free copy of the Gynecology Devices Market sample report and company profiles?
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- In September 2021, Ethicon unveiled the industry’s first electric circular stapler for colorectal, gynecological, gastric and chest surgery. Helps treat serious complications associated with bowel and stomach surgery. In addition, the Echelon Circular Powered Stapler reduces staple line leaks by 61% compared to Medtronic’s DST series Eea Stapler.
- In May 2021, Hologic Inc. acquired Biotheranostics, the developer of two highly differentiated molecular diagnostic tests for breast and metastatic cancers. Breast cancer index (BCI) and Cancer TYPE ID (CTID). The Breast Cancer Index predicts which early-stage hormone receptor-positive (HR +) breast cancer patients are likely to benefit from long-term endocrine therapy, the National Cancer Network (NCCN) and the American Society of Clinical Oncology (ASCO).
- Increasing demand for gynecological surgeries shows largest market share.
The North American region holds the largest share of the global gynecology devices market due to increasing demand for gynecological surgery, increasing prevalence of female reproductive disorders, and growing technological advances in gynecological equipment. Cancer is one of the biggest health problems for women in the United States. According to the Centers for Disease Control and Prevention (CDC), breast, colon, endometrial, lung, cervical, skin, and ovarian cancers are the most common cancers that affect women. More than 270,000 women are dying from cancer.
Global Gynecology Devices Market is segmented as follows:
Gynecology Devices Market: By Products Outlook (2022-2028)
- Gynecological Endoscopy Devices
- Endometrial Ablation Devices
- Fluid Management Systems
- Female Sterilization and Contraceptive Devices
- Hand Instruments
- Diagnostic Imaging Systems
Gynecology Devices Market: By End Users Outlook (2022-2028)
- Diagnostic Centers
Gynecology Devices Market: By Region Outlook (2022-2028)
- The UK
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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