The global gynecological devices market size is projected to reach USD billion 17.55 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 8.8% during the forecast period. Growing female population, increasing awareness levels pertaining to benefits of early diagnosis, and available treatments are anticipated to stoke the growth of the market.
Rising prevalence of sexually transmitted diseases is translating into greater demand for gynecological treatments. Prevalence of these diseases was observed to be higher in people aged between 15-24 years. For instance, according to the Centre for Disease Control and Prevention (CDC), around 45.0% of the patients in the U.S. with Chlamydia were aged between 20 and 24 years.
Moreover, rising adoption of gynecological procedures is estimated to boost usage rates over the forecast period. The percent of C-section deliveries was 32.2% as compared to number of vaginal deliveries. Upswing in the number of these procedures owing to growing population, increasing awareness, and rising disposable income is expected to drive the gynecological devices market.
Early disease detection is imperative in devising treatment schedules. Pertinent government and regulatory agencies in congruency with aforementioned factors are now focusing majorly on improving patient awareness levels.
Further Key Findings from the Report Suggest:
- Surgical devices accounted for the largest market share in 2018. High cost of surgical devices and recurring purchase of disposable products are contributing to the growth of the segment
- Endoscopy devices were the leading revenue contributing sub-segment in 2018. Availability of user-friendly, portable, and affordable products is likely to escalate the growth of the segment during the forecast period
- North America was the largest regional market in 2018. Presence of a well-established healthcare infrastructure, high adoption rate of advanced technology, and large number of skilled professionals are supplementing the growth of the market in the region
- Asia Pacific is poised to register a significant CAGR during the forecast period. Rapid surge in procedure volumes, as a result of booming medical tourism industry, has been augmenting the regional market
- Some of the key players in the gynecological devices market are Ethicon, Inc.; Karl StorzGmbH & Co. KG; Hologic, Inc.; Boston Scientific Corporation; Stryker Corporation; Olympus Corporation; Richard Wolf GmbH; Medtronic Plc; and CooperSurgical, Inc.