Transparency Market Research (TMR) has published a new report titled, ‘Gynecological Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global Gynecological Devices market was valued at US$ 17,449.09 Mn in 2018 and is projected to expand at a CAGR of 3.8 % from 2019 to 2027.
Overview
- Gynecological devices are the instruments and equipment used in the treatment of the gynecological disorders. Gynecological devices includes surgical devices, hand instruments, diagnostics imaging services and gynecological chairs.
- The rise in demand of the gynecological devices are ascribed to technological advancements leading to the advanced products, rising incidences of gynecological procedures, increase in C-section procedure, uterine fibroids and others conditions.
- Rise in the adoption of the disposable equipment due to increasing need of sanitization, sterilization, rise in cases of emergency visits at trauma centers are estimated to propel the market of the gynecological devices market in coming years.
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Technological advancements in gynecological devices to Drive Market
- Minimally invasive therapy is a highly dynamic area of innovation. Minimally invasive therapy may prevent the need for major open-surgery procedures. In terms of health outcomes, it offers the following benefits: no need for general anesthesia, absence of sequelae of open surgery procedures, smaller scars, shorter hospital stay or outpatient treatment, and faster return to normal life.
- Two advanced approaches to minimally invasive surgery presented recently are the da Vinci robotic platform and single port laparoscopic surgery (SPLS). Robotic surgery has many advantages, such as, 3-dimensional view, ergonomically comfortable position for the surgeon, and wrist-like motion of the robotic arm. Presently, robotic technology is widely used in gynecology surgeries, such as, hysterectomy, sacrocolpopexy, myomectomy, etc.
- Single port laparoscopic surgery has numerous possible advantages including, reduced postoperative pain, fewer operative complications, and improved results compared to conventional laparoscopy
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Surgical Devices Segment to Dominate Market
- Based on product, the global gynecological devices market has been divided into surgical devices, Hand Instruments, Diagnostic Imaging systems, and gynecological chairs The surgical device segment has been bifurcated into Endoscopy Devices, Endometrial Ablation Devices, Fluid Management Systems, and Female Sterilization And Contraceptive Devices.
- The surgical device segment dominated the global gynecological devices market in 2018 and the trend is projected to continue during the forecast period. Increase in demand for minimally invasive procedures and technological advancements for growing gynecological procedures are few factors likely to drive the segment during the forecast period.
- Moreover, shift in trend from invasive to minimal invasive surgery is likely to boost the segment growth in forecast period. Moreover, increase in the cesarean surgical procedure is also likely to propel the market of the gynecological devices market across globe.
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North America to Dominate Global Market
- In terms of region, the global gynecological devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global gynecological devices market in 2018, followed by Europe.
- North America accounted for major share of the global gynecological devices market in 2018, owing to technological advancements, growing awareness about minimally invasive treatments for gynecological procedures, aging of the baby boomer population, better reimbursement policies, better reimbursement policies, advancements in healthcare and high health care awareness among the population of the U.S. are the major drivers of the Gynecology Devices market in North America.
- The Gynecological Devices market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be attributed to large patient base in countries such as India and China, rise in awareness, and developing health care infrastructure. As per expertise, China is expected to be highly attractive market attributable to huge gynecological diseases affected patient pool with high unmet needs and developing healthcare infrastructure.
Competitive Landscape
The global Gynecological Devices market is fragmented in terms of number of players. Key players in the global market include Boston Scientific Corporation, Medtronic plc, Johnson & Johnson Services (Ethicon, Inc.), Stryker Corporation, Merck & Co, Inc., Olympus Corporation, Cooper Surgical, Inc., Hologic, Inc., Richard Wolf Gmbh, Karl Storz Gmbh & Co. KG, and other players.
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