According to a new analysis by Growth Plus Reports, the global gynecological devices market is estimated to be worth US$ 18.77 billion by 2031, with a revenue CAGR of 8.50%. The study analyzes the most important strategies, factors, opportunities, competitive landscape, industry patterns, market size, financial information and forecasts, and potential business opportunities.
Key Takeaways:
- The increasing prevalence of gynecological diseases such as cancer and cervical cancer will drive market growth.
- Increasing demand for non-invasive gynecological procedures is expected to support the market’s revenue growth.
- North America will dominate the market with the largest revenue share.
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Gynecological Devices Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 9.01 billion |
| Revenue forecast in 2031 | US$ 18.77 billion |
| Growth Rate | CAGR of 8.5% from 2023 to 2031 |
| Base year for estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments covered | Product, End User, and Region |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers
The increasing use of robots by experienced gynecologists drives the revenue growth of the gynecological devices market. Furthermore, the rise in gynecological illnesses such as uterine cancer, cervical cancer, polycystic ovary syndrome, and ovarian cancer is expected to contribute to market revenue growth. Besides this, increasing awareness among women about the importance of maintaining gynecological health, increasing healthcare expenditure, increase in the number of gynecological procedures, rising geriatric population, and government initiatives to improve women’s health will boost market revenue growth.
Market Segmentation
Growth Plus Reports has analyzed the global gynecological devices market from four perspectives: Product, End User, and Region.
Product Segmentation: Based on the product, the gynecological devices market is segmented into surgical devices, handheld instruments, and diagnostics imaging systems. The surgical devices segment accounts for the largest revenue share because of the increasing demand for minimally invasive surgeries in gynecology due to their advantages over traditional open surgeries, such as less blood loss, shorter hospital stay, and faster recovery time.
End-User Segmentation: Based on the end-user, the gynecological devices market is segmented into hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment dominates the market because of the high patient footfall in hospitals to treat most gynecological illnesses, increasing government financing, and the increasing number of surgeries for gynecological disorders.
Regional Growth Dynamics
Based on the region, the global gynecological devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global gynecological devices market with the largest revenue share. The region’s large female geriatric population, the rising prevalence of cancer, advanced healthcare facilities, increased awareness of gynecological problems, and the high government healthcare expenditure are responsible for North America’s significant revenue share in the global market.
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Competitive Landscape
The following companies are the important players in the global gynecological devices market:
- Medtronic Plc
- Bayer AG
- Cooper Surgical Inc.
- Stryker Corp.
- Richard Wolf GmbH
- Hologic, Inc.
- Boston Scientific Corp.
- Karl Storz GmbH & Co., KG
- Ethicon, Inc. (Johnson & Johnson MedTech)
- Cook Medical
- Gynemed
- Gynex Corp.
There is moderate competition in the gynecological devices market. To launch new products, the key players emphasize research and development. Major players in the market often engage in mergers and acquisitions to enhance their revenue share.
Recent developments:
- Olympus launched the Guardenia Contained Extraction System in September 2022. Guardenia is the latest addition to Advanced Surgical Concepts (ASC) Ltd. of Bray, Ireland’s contained tissue extraction product portfolio for gynecological procedures.
- In July 2022, GenWork intrauterine partnered with Medtronic to develop intrauterine disorder treatment procedures.
- UroViu Corp introduced the new Hystero-V, a single-use hysteroscope compatible with UroViu’s Always Ready endoscopy platform, in June 2022. The hydrophilic coating of the 12-Fr, semi-rigid Hystero-V enables gentle insertion and enhanced visibility for highly effective intra-uterine examinations.
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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