PUBLISHER: The Business Research Company | PRODUCT CODE: 1409467
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409467
“Gynecological Devices Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on gynecological devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for gynecological devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The gynecological devices market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Gynecological devices encompass instruments specifically designed for the management of the female reproductive system, as well as for childbirth and pregnancy, playing a crucial role in various medical procedures aimed at ensuring the well-being of women.
The primary categories of gynecological devices include surgical devices, diagnostic imaging systems, hand-held instruments, software, and other specialized devices. Surgical devices are instrumental in performing a diverse range of surgical procedures integral to gynecology. These procedures include colposcopy, loop electrical excision, IUD insertion, dilation and curettage (D&C), ovarian cystectomy, tubal ligation, and more. The applications of these devices extend to laparoscopy, hysteroscopy, dilation and curettage, colposcopy, among others, and they find application in clinics, hospitals, diagnostic centers, research institutes, and various healthcare settings.
The gynecological devices market research report is one of a series of new reports from The Business Research Company that provides gynecological devices market statistics, including gynecological devices industry global market size, regional shares, competitors with a gynecological devices market share, detailed gynecological devices market segments, market trends and opportunities, and any further data you may need to thrive in the gynecological devices industry. The gynecological devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The gynecological devices market size has grown strongly in recent years. It will grow from $12.44 billion in 2023 to $13.51 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed in the historic period can be attributed to several factors, including the introduction of laparoscopic surgery, the development of intrauterine devices (IUDs), the evolution of hysteroscopy techniques, the emergence of robotic surgery in gynecology, and advancements in diagnostic imaging technologies.
The gynecological devices market size is expected to see strong growth in the next few years. It will grow to $18.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period can be attributed to factors such as an increase in women's healthcare spending, advancements in robotic surgery, the adoption of personalized treatment approaches, and the expansion of ambulatory surgical centers. Key trends expected in the forecast period include a preference for minimally invasive procedures, a shift towards ambulatory settings for healthcare delivery, an increased focus on women's health awareness, the adoption of patient-centric approaches in healthcare services, and significant investments in research and development.
The gynecology devices market is anticipated to witness growth due to the increasing prevalence of gynecological disorders. Gynecological disorders involve abnormalities in the normal functioning of female reproductive organs, encompassing the breasts, abdominal area, and pelvic organs. These disorders prompt the use of gynecology devices to manage the female reproductive system, addressing aspects such as pregnancy, childbirth, and various medical procedures such as colposcopy, loop electrical excision procedure (LEEP), endometrial biopsy, IUD insertion, dilation and curettage (D&C), tubal ligation, ovarian cystectomy, among others. Notably, endometriosis affects approximately 190 million women and girls globally, as reported by the World Health Organization (WHO) in March 2023. Additionally, the American Cancer Society projected around 13,960 new cases of invasive cervical cancer in 2023, with 4,310 estimated fatalities during the same period. This rising prevalence of gynecological disorders is a significant driver of the gynecological devices market.
The growth of the gynecological devices market is expected to be fueled by the increasing aging population. An aging population is characterized by a significant proportion of individuals aged 65 or older, leading to unique healthcare needs related to aging, menopause, reproductive health, and age-related gynecological conditions. This demographic shift contributes to the demand for gynecology devices, supporting the market's growth. A report by the World Health Organization (WHO) in October 2022 predicts that one in six people will be 60 or older by 2030 globally, with 2.1 billion people aged 60 or older by 2050. The expanding aging population is a driving force behind the growth of the gynecological devices market.
Technological advancements emerge as a prominent trend in the gynecological devices market, with companies adopting new technologies to maintain their market position. For example, Boston Imaging (Samsung) introduced Hera W10 Elite in February 2023, an artificial intelligence-enabled women's health ultrasound system. This system incorporates advanced features such as the MV-Flow function for visualizing microcirculatory and sluggish blood in 2D and 3D. The platform also includes novel AI aspects such as HeartAssist, ViewAssist, and BiometryAssist, enhancing diagnostic capabilities in obstetrics and gynecology procedures. Technological innovation is a key factor shaping the landscape of the gynecological devices market.
Major companies in the gynecological devices market are focusing on product innovation, introducing solutions such as tissue extraction systems to expand their customer base and boost revenue. Olympus Corporation launched the Guardenia Contained Extraction System in September 2022, designed for the removal of biological tissue during surgical procedures. This system's unique features, including a purposeful design to prevent cell release into the abdominal cavity during manual morcellation, set it apart in the market.
In December 2021, Hologic, Inc. acquired Bolder Surgical for $160 million, aiming to enhance its product portfolio in the laparoscopic segment and gain a competitive edge in the women's health market. This acquisition reflects the strategic importance of innovation and portfolio expansion in the gynecological devices market.
Major companies operating in the gynecological devices market report are Medtronic plc, CooperSurgical Inc., Richard Wolf GmbH, Hologic Inc., Boston Scientific Corporation, Stryker Corporation, Karl Storz SE & Co. KG, Ethicon Inc., MedGyn Products Inc., General Electric Company, Fresenius Medical Care AG & Co. KGaA, Gynex Corporation, Bayer AG, Gynemed Medizinprodukte GmbH & Co. KG, Meril Life Sciences Pvt. Ltd., Siemens AG, Cook Group Inc., B. Braun Melsungen AG, Siemens Healthineers AG, Smith & Nephew plc, Steris Corporation, TransEnterix Inc., Endologix Inc., Abbott Laboratories, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Medline Industries Inc., Mindray Medical International Limited, Olympus Medical Systems Corporation, Cardinal Health Inc
North America was the largest region in the gynecological devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the gynecological devices market report forecast period. The regions covered in the gynecological devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the gynecological devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The gynecological devices market consists of sales of cesarean forceps, cervical dilators, punch forceps, ultrasound (US) devices, computed tomography (CT) devices, magnetic resonance imaging (MRI) devices, contraceptive devices, fluid management systems, endoscopy devices, and endometrial ablation devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.