San Francisco, 12 Sep 2018: The global gynecological devices market is expected to reach over USD 20.6 billion by 2022, according to a new report by Grand View Research, Inc. Prime drivers of the market include growing female population, increasing awareness levels pertaining to the benefits of early diagnosis, and available treatments.
Rising prevalence of sexually transmitted diseases has increased the 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 39% of the patients with Chlamydia in the U.S. were aged between 20 and 24 years. Similarly, 33% of the patients with Gonorrhea in the U.S. were aged between 20 and24 years.
Moreover, rising adoption of gynecological procedures is likely to boost usage rates over the forecast period. For instance, according to the Center for Disease Control and Prevention (CDC), the total number of obstetrical procedure performed in 2014 was more than 7.3 million in the U.S. According to The National Center for Health Statistics, in 2014, in the U.S. 3,988,076 child births were registered.
The percent of C-section deliveries was 32.2% as compared to the number of vaginal deliveries. The rising numbers of these procedures owing to the growing population, growing awareness and increasing 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 the aforementioned fact, are now focusing majorly on improving patient awareness levels. Efforts will most likely pay off, leading to a rapid rise in procedure volume.
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www.grandviewresearch.com/industry-analysis/gynecological-device-market
Further key findings from the study suggest:
- Surgical devices accounted for the largest market share of around 79% in 2014. High cost of surgical devices and repeat purchase of disposable products attribute to the segment’s large market share.
- The segment is expected to maintain its market position throughout the forecast period owing to, the introduction of technically advanced and user friendly products and the subsequent rise in adoption rates.
- Endoscopy devices were the largest revenue-generating sub-segment in 2014. Expanding application of endoscopy in gynecological procedures is one of the prime factors accounting for the segment’s revenue share. Moreover, availability of user-friendly, portable, and affordable products is likely to drive segment growth during the forecast period.
- North America was the largest market in 2014. The presence of a well-established healthcare infrastructure, high adoption rate of advanced technology, and large number of skilled professionals are some factors spearheading regional market growth.
- Asia Pacific is expected to grow at a significant rate of 10.6% during the forecast period. Rapid surge in procedure volumes as a result of the growing medical tourism market place is expected to drive regional market growth. Birth control policies in countries such as China and India are also expected to fuel growth over the forecast period.
- Some key players of the gynecological devices market include Ethicon, Inc., Karl StorzGmbH & Co. KG, Hologic, Inc., Boston Scientific Corporation, Stryker Corporation, Olympus Corporation, Richard Wolf GmbH, Medtronic plc, and CooperSurgical, Inc.
Access press release of this research report by Grand View Research: www.grandviewresearch.com/press-release/global-gynecological-devices-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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