Gynecological Devices Market
Gynecological Devices Market (Product Type - Surgical Devices ( Endoscopy Devices (Laparoscopes, Hysteroscopes, Colposcopes, Resectoscopes, and Endoscopic Imaging Systems), Endometrial Ablation Devices (Hydrothermal EADs, Radiofrequency EADs, and Balloon EADs), Fluid Management Systems, and Female Sterilization and Contraceptive Devices (Permanent Birth Control Devices and Temporary Birth Control Devices)); Hand Instruments (Vaginal Speculum (Disposable and Reusable), Tenaculum, Curettes, Trocars, and Biopsy Forceps); Diagnostic Imaging Systems ( Ultrasound and Mammography); and Gynecological Chairs (Fixed-height Gynecological Chairs and Adjustable-height Gynecological Chairs)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2027
- According to Transparency Market Research’s latest report on the global Gynecological devices market for the historical period 2017–2018 and forecast period 2019–2027, rise in incidence of gynecological diseases across the globe, Increase in patient preference for minimally invasive therapies, increase in healthcare expenditure and awareness about the gynecological are projected to drive the global Gynecological devices market during the forecast period
- According to the report, the global Gynecological devices market was valued at US$ 17,449.09 Mn in 2018 and is anticipated to expand at a CAGR of 3.8% from 2019 to 2027
Rise in incidence of gynecological diseases across globe to propel the gynecological devices market: Key Drivers
- Gynecologic disorders affect the female reproductive system. Most common symptoms of gynecologic disorders include pelvic pain, vaginal itching, vaginal discharge, abnormal vaginal bleeding, and breast pain and lumps. The significance and severity of these symptoms often depend on age as symptoms may be related to hormonal changes that occur with aging.
- Among prominent gynecological diseases, sexually transmitted disease (STD) is common and critical – the most common STD among women is pelvic inflammatory disease. In the U.S., more than one million women suffer from this disorder in their lifetime, followed by chlamydia, a sexually transmitted infection of the vagina, which if left untreated, develops into pelvic inflammatory disease.
- Gynecological disorders may or may not be related to the menstrual cycle, which prominently include menstrual cramps and endometriosis (abnormally located patches of tissue located only in the lining of the uterus)
- Additionally, endometrium cancer is the most common type of cancer in women, estimated to constitute approximately 2.5% of total cancer cases detected worldwide. Ovarian cancer is believed to be the seventh most common form of cancer in women, accounting for 3% of all the cancer cases in women. Therefore, increase in the prevalence of conditions mentioned above, particularly those requiring surgical intervention, is likely to increase the uptake of gynecology devices in the near future.
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Increase in preference for minimally invasive therapies to Boost Market Growth
- Surgeries, by definition, are invasive and need incision of certain size. Gynecological surgery once meant large painful incisions, longer recovery periods, intense need for monitoring, and heavy scarring.
- Due to this, few years ago, open exposure surgical hysterectomies ("C-sections") have been increasingly replaced by routine, minimally invasive hysterectomies that necessitate the use of an electric morcellator surgical device, commonly used by gynecological surgeons. Morcellator is a rotary blade device that shreds a large mass (a presumed fibroid within the uterus) through small port incisions, either through laparoscopy or with the use of da Vinci robot.
- Due to this, there has been an increase in demand for minimally invasive procedures, such as, laparoscopy and endoscopy. Both of them have evolved technologically, enabling a wide variety of surgeries to be performed.
- Therefore, rise in the number of MIS procedures globally is likely to have a positive impact on the global gynecology devices market
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Delay in approvals by regulatory authorities to Hamper Market
- Although the U.S Food and Drug Administration (FDA) has shaped pharmaceutical review times over the years to rush innovative drugs to the market, the contrary seems to have happened in the agency's approval of medical devices. Stringent documentation and compliance requirements delay the approvals, which adds to the development costs borne by device manufacturers.
- It is also seen that it takes approximately 34%, or 7.2 months, lengthier than non-pioneer entrants – due to administrative delays and not because of technological uncertainty. Longer time for approval can cost a manufacturer an additional US$ 6.7 Mn to bring a pioneer medical device into the market. Small-scale manufacturers are less likely to innovate due to costs. The delays mean depriving patients of potentially life-saving treatments.
- This delay in the approval process of medical devices are responsible to hinder the growth of gynecology devices market.
Global Gynecological Devices Market: Competitive Landscape
- This report profiles major players in the global Gynecological devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global Gynecological devices market is highly fragmented, due to presence of large number of privately-held and domestic gynecological devices manufacturers
- Prominent players operating in the global Gynecological devices market are
- 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
- other prominent players.
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Global Gynecological Devices Market: Key Developments
- Key players in the global Gynecological devices market are engaged in regulatory approvals, diversified product portfolio, extensive geographical presence, strong presence in emerging markets and technology enhancement strategies. These strategies are likely to fuel the growth of the global Gynecological devices market across globe. A few expansion strategies adopted by players operating in the global Gynecological devices market are:
- In year 2020, Minerva surgical announced acquisition of Boston Scientific's; intrauterine health franchise which would enhance the company’s product portfolio for treatment of abnormal uterine bleeding AUB
- In April 2018, Olympus corporation announced company product line the creation of its U.S. GYN Business Unit
- In May 2017, the Olympus Corporation released the new plasma hysteroscopic resection and vaporization full portfolio of products. These products have received FDA 510(k) clearance. In September 2017, the Stryker Corporation acquired Invuity, Inc. Invuity, Inc., a medical technology company focused on advanced surgical devices to enable better visualization
The report on the global Gynecological devices market discussed individual strategies, followed by company profiles of manufacturers of Gynecological devices. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global Gynecological devices market.
Global Gynecological Devices Market - Scope of Report
TMR’s report on the global Gynecological Devices market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global gynecological devices market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global gynecological devices market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global gynecological devices market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global gynecological devices market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global gynecological devices market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global gynecological devices market.
The report delves into the competitive landscape of the global gynecological devices market. Key players operating in the global gynecological devices market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global gynecological devices market that have been profiled in this report
Key Questions Answered in Global Gynecological Devices Market Report
- What is the scope of growth of product companies in the global Gynecological Devices market?
- What will be the Y-o-Y growth of the global Gynecological Devices market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global Gynecological Devices market?
- Which region will continue to be the most profitable market for Gynecological Devices providers?
- Which factors are anticipated to hamper the growth of the global Gynecological Devices market during the forecast period?
- Which are the leading companies in the global Gynecological Devices Market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global gynecological devices market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global Gynecological Devices market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, Gynecologist, Endoscopic Specialists, Research & Academic Institutes, and Medical Directors, who contributed to the production of TMR’s study on the gynecological devices market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the Gynecological Devices market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global gynecological devices market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global gynecological devices market more reliably and accurately.
Regional Segmentation of Gynecological Devices Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Gynecological Devices Market - Segmentation