Market Research Future (MRFR) in their report on the global colposcopy market predicted a growth for the same by 6.8% CAGR during the forecast period (2018-2023). Colposcope is a device that enables specialists in having a better look inside the vaginal area of a woman to diagnose diseases. The instrument finds great utility in determining cervical cancer. The machine is like and electronic microscope with proper lighting and magnification. The traditional one is the optical colposcope but now it has evolved and became digital with video assistance. MRFR in their report included a detail segmental analysis of the market, along with special emphasis on the factors that can spur growth in the coming years.
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The market is gaining traction from the increasing cases of cervical cancer. This has triggered an awareness where patients are now more willing to understand their state of health and wish to take preventive measures. Segmental innovation is also boosting the market, such as the portable ones. But the market is witnessing some lags in terms of high installation cost and lack of skilled operators. But the growing interest in the sector can easily take out the market from any long-time sluggishness.
Competitive Landscape:
Prominent players, as per MRFR report, in the global colposcopy market are Olympus Corporation, Carl Zeiss, Philips Healthcare, CooperSurgical, Atmos, McKesson Corporation, DYSIS Medical, Danaher Corporation, Seliga Microscopes, Karl Kaps, Bovie Medical, Welch Allyn, Alliton, Leisegang, Centrel, OPTOMIC, MedGyn, Ecleris, Lutech, Beijing SWSY, DYSIS Medical, EDAN Instruments, Seiler, Xuzhou Zhonglian, and others.
In 2018, an article published in the BJOG, An International Journal of Obstetrics and Gynaecology, talked about a portable pocket colposcopy which can deliver near-perfect results. As per the researchers from Duke University in North Carolina, the images in this method they collected by using acetic acid and Lugol’s iodine as contrast agents.
Segmentation
The global colposcopy market is segmented on the basis of instrument type, instrument portability, application, and end-users.
On the basis of instrument type, the market is classified into optical colposcopes and digital colposcopes.
On the basis of instrument portability, the market is classified into portable, fixed, and handheld.
On the basis of application, the market is classified as cervical cancer screening, physical examinations, and others.
On the basis of magnification type, the market is classified into fixed magnification and variable magnification
On the basis of end-user, the market is classified into hospitals, clinics, diagnostic centers, and others.
Geographically, the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The American colposcopy market is further segmented into North America and South America. North America is further classified as the US and Canada.
The European colposcopy market is segmented into Western Europe and Eastern Europe. Western Europe is further classified as Germany, France, the UK, Italy, Spain, and the Rest of Western Europe.
The colposcopy market in Asia-Pacific is segmented into Japan, China, India, the Republic of Korea, Australia, and the Rest of Asia-Pacific.
The Middle Eastern and African colposcopy market is segmented into the Middle East and Africa.
Regional Market Summary
Asia-Pacific is the fastest growing region in the market owing to the increasing cases of cervical cancer in the region, growing demand for cervical cancer screening, and rising healthcare expenditure in Asian countries. Additionally, according to a study published in the World Health Organization (WHO) in 2017, every year cervical cancer kills more than 250000 women, and 85% of these deaths occur in low- and middle-income countries. Furthermore, the rapid development of economies and increasing healthcare expenditure have fuelled the growth of the market.
The Americas is likely to dominate the global colposcopy market owing to technological advancements in colposcopes such as high-quality video and improved accuracy in detection. For instance, the American Cancer Society in 2018, estimated about 13,240 new cases of invasive cervical cancer to be diagnosed in the US with nearly 4,170 women dying from cervical cancer. Furthermore, continuous development of advanced colposcopy by manufacturers in the region contributes to the market growth.
Europe is likely to hold the second position in the global colposcopy market. It is expected that the favorable reimbursement scenario is responsible for the ambient growth in this region. Additionally, according to the Cancer Research UK in 2017, more than 3000 new cases of cervical cancer are diagnosed in the UK each year.
The Middle East and Africa accounts for the lowest market share in the global colposcopy market owing to the lack of awareness regarding cervical cancer in the MEA region.
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