Gynecological Devices Market Surpass $18.2 Billion By 2026 | CAGR 7.9%

Author: Acumen Research and Consulting

As indicated by Acumen Research and Consulting, the global Gynecological Devices market size is evaluated to grow at CAGR around 7.9% during the estimate forecast period. Increasing population, growing awareness regarding preventive healthcare, and rising government initiatives to create awareness regarding female health are some key factors accelerating the gynecological devices market growth across the globe. The Asia Pacific gynecological devices market is expected to grow at a remarkable CAGR during the forecast period owing to significant growth in geriatric population, increasing prevalence of sexually transmitted disease, and launch of birth control programs. There has been an increase in healthcare expenditure in the region, which is expected to provide growth opportunities during the forecast period.

The increasing incidences of gynecological disorders, such as ovarian cancer, cervical cancer ovarian cysts, uterine fibroids, and menstrual disorders in women, along with increasing awareness regarding preventive healthcare supports the growth of this market. Improvement in lifestyle due to rise in income level, especially in the developing countries of Asia-Pacific, fuels the demand for gynecological devices market. The growing geriatric population, and growing adoption of minimal invasive procedures further accelerate the adoption of gynecological devices.Changing lifestyles, rising healthcare expenditure, and increasing initiatives to promote female healthcare drive the growth of gynecological devices market. Other driving factors include launch of user friendly and disposable products, and increasing awareness regarding reproductive health. Increasing demand from developing nations, and technological advancements are expected to provide numerous growth opportunities to the market players during the forecast period.

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On the basis of devices, the global Gynecological Devices market is segmented into surgical devices, diagnostic imaging systems, hand held instruments, software, and others. In 2018, the surgical devices accounted for the highest market share. Surgical devices include endoscopy devices, fluid management systems, endometrial ablation devices, contraceptive devices, and others. The increasing demand for endoscopy devices, and rising awareness regarding female contraceptives is driving the growth of this segment. Technological advancements, and development of advanced equipment for time efficient and accurate diagnosis are factors expected to provide growth opportunities during the forecast period.

The global Gynecological Devices market is segmented into hospitals, clinics, diagnostic centers, research institutes, and others, on the basis of end-users. In 2018, the hospitals segment dominated the global gynecological devices market. The growing awareness regarding female health and contraceptives supports the growth of this segment. The development of technologically advanced and user-friendly devices for minimally invasive procedures, along with government initiatives such as free routine checkups at hospitals further boost the growth of this segment.

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In 2018, North America dominated the global gynecological devices market owing to growing geriatric population, presence of established healthcare infrastructure, and availability of technology advanced computer-aided tests. Increasing cases of sexually transmitted disease,changing lifestyle, and rising awareness regarding preventive healthcare among the population supports the growth of gynecological devices market in the region.The Asia-Pacific gynecological devices market is expected to grow at the highest rate during the forecast period owing to the growing population, and government initiatives to curb population in the region. The growing awareness regarding contraceptive procedures in countries such as China, Japan, India, and South Korea is expected to drive the market growth over the next few years. The increasing geriatric population in the region coupled with rising disposable income drives the market growth. Rising awareness among the female population regarding reproductive health in developing countries is accelerating the demand for gynecological devices. Government institutes and non-profit organizations are taking initiatives to conduct health awareness programs and health check-up camps to create awareness regarding female health issues.

The global Gynecological Devices market is characterized by the presence of experienced and established players. Some of the key players profiled in the gynecological devices market report include Ethicon, Inc., Richard Wolf GmbH, Olympus Corporation, Cooper Surgical Inc., Hologic Inc., Medtronic plc, Boston Scientific Corporation, Koninklijke Philips Electronics NV, Johnson & Johnson, Siemens AG, and Fresenius Medical Care AG & Co. KGAA among others. These companies are consistently launching new products to cater to the growing consumer demands. Global players are entering new developing economies for expansion of customer base and strengthening market presence.

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