Dublin, Aug. 11, 2023 (GLOBE NEWSWIRE) -- The "Gynecological Devices - Market Insights, Competitive Landscape, and Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global gynecological devices market is anticipated to grow steadily at a Compound Annual Growth Rate (CAGR) of 8.37% from 2023 to 2028. The rising prevalence of gynecological disorders, such as cervical dysplasia, pelvic floor prolapse, adnexal tumors, endometriosis, ovarian cysts, uterine fibroids, and others, is driving the demand for gynecological devices.
Additionally, the increasing adoption of advanced and innovative technologies, growing demand for minimally invasive therapy, rising awareness about family planning and birth control, and continuous product launches and approvals are contributing to the overall market growth during the forecast period.
Gynecological Devices Market Dynamics:
The prevalence of various gynecological disorders, including ovarian and cervical cancers, has been increasing, driving the demand for gynecological devices such as endoscopic devices and diagnostic imaging systems. For instance, nearly 314 thousand new cases of ovarian cancer were reported globally in 2020, emphasizing the need for comprehensive approaches to prevention, early diagnosis, and effective treatment programs.
The growing number of surgical procedures, such as female sterilization, ablation, endoscopy, and laparoscopy, and the increased use of disposable products are expected to boost the demand for gynecological devices. Moreover, the adoption of cutting-edge and innovative technologies is contributing to the industry's growth. The introduction of advanced devices like the Endoluxe eVS, an HD wireless endoscopic camera equipped with TowerTech for gynecological, urological, ENT, orthopedics, and general surgery, highlights the market's progression.
Unintended pregnancies and unsafe abortions have led to an upsurge in gynecological surgical volumes worldwide. Approximately 60% of pregnancies globally are unintended, with about 45% of unintended pregnancies leading to unsafe abortions. These conditions increase the demand for gynecological devices, such as endoscopic and ablation devices.
The increasing awareness regarding gynecological health is also driving market growth. Initiatives like the 'Virtual Ovarian Cancer Research Series' presented by the Rivkin Center for Ovarian Cancer and the American Association for Cancer Research have contributed to advancing the field of ovarian cancer research.
However, stringent regulatory guidelines and complications related to various devices may hinder the market's growth.
Gynecological Devices Market Segment Analysis:
In the product segment of the gynecological devices market, balloon ablation devices are expected to hold a significant revenue share in 2022. The increasing prevalence of endometrial cancer and the adoption of these devices due to their ease of use and convenience are driving this trend. Endometrial cancer ranks as the 6th most common cancer in women and the 15th most common overall, with around 604 thousand new cases reported in 2020. By 2040, nearly 798 thousand new cases of corpus uteri cancer are projected globally.
Balloon ablation devices offer advantages over other surgical techniques, including quicker recovery times, less discomfort, minimal invasion, and shorter operating times. Additionally, the increasing technological advancements in these devices are expected to impact the segment's demand positively.
North America is expected to dominate the overall gynecological devices market, accounting for the largest share in 2022. Factors such as the rising prevalence of ovarian and cervical cancers, growing sexually transmitted diseases, increasing use of contraceptive devices, high disposable income, sophisticated healthcare infrastructure, regulatory approvals for new products, and awareness contribute to the region's market growth.
Strategic activities like product launches, approvals, mergers, acquisitions, and partnerships are also contributing to the regional demand. For instance, Hologic, Inc. acquired Bolder Surgical, a company providing advanced energy vessel sealing surgical devices, to expand its surgical product line, further driving the market.
Key Takeaways from the Gynecological Devices Market Report Study:
- Market size analysis for current gynecological devices market size (2022) and market forecast for 5 years (2023-2028)
- Impact of the COVID-19 pandemic on the market
- Key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures in the last 3 years
- Key companies dominating the global gynecological devices market
- Opportunities available for other competitors in the gynecological devices market space
- Top-performing segments in 2022 and their performance in 2028
- Top-performing regions and countries in the current gynecological devices market scenario
- Regions and countries offering opportunities for gynecological devices market growth in the future
Gynecological Devices Market Key Players:
Key market players in the gynecological devices market covered in the report include:
- Boston Scientific Corporation
- Hologic, Inc.
- Medtronic
- Olympus America
- Stryker
- UroViu Corporation
- Medical Device Business Services, Inc.
- Karl Storz SE & Co. KG
- Richard Wolf GmbH.
- COOPER SURGICAL, INC.
- MEDGYN PRODUCTS, INC.
- Minerva Surgical, Inc.
- Veldana Medical SA
- Veru Inc.
- Teva Pharmaceutical Industries Ltd
- Cupid Limited
- Merck & Co Inc.
- Meril Life Sciences Pvt. Ltd
- Pregna International Limited
- Odyssea Pharma SPR
For more information about this report visit https://www.researchandmarkets.com/r/k0mcbs
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