- Increase in prevalence of cervical cancer and other gynecological disorders and technological innovations drive the growth of the global colposcopes market
PORTLAND, Oregon, March 2, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Colposcopes Marketby Product Type (Portable, Handheld, and Stationary), Application (Cervical Cancer Screening and Physical Examinations), End User (Diagnostic Centers, Hospitals, and Clinics): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global colposcopes market generated $470.2 million in 2018, and is estimated to generate $661.4 million by 2026, growing at a CAGR of 4.3% from 2019 to 2026.
Drivers, restraints, and opportunities
Increase in prevalence of cervical cancer and other gynecological disorders and technological innovations drive the growth of the global colposcopes market. However, unfulfilled requirements regarding usage of colposcopes hinder the market growth. On the other hand, surge in adoption of colposcopes in emerging countries present new pathways for growth in coming years.
The portable segment to continue its leadership position during the forecast period
Based on product, the portable segment contributed to nearly three-fourths of the total share of the global colposcopes market in 2018, and is expected to continue its leadership position during the forecast period. This is due to ease in sample handling, screening convenience, and high adoption across the globe. Moreover, the handheld segment is expected to register the highest CAGR of 5.7% from 2019 to 2026, owing to improved test efficiency and productivity by lowering time and labor needed for collecting, processing, and reporting results.
The cervical cancer screening segment to maintain its dominant position in terms of revenue by 2026
Based on application, the cervical cancer screening segment accounted for the highest market share of the global colposcopes market, holding more than four-fifths of the total market share in 2018, and is expected to maintain its dominant position in terms of revenue throughout the forecast period. However, this segment is estimated to grow at the highest CAGR of 4.5% from 2019 to 2026. This is attributed to rise in incidences of cervical cancer, increase in awareness regarding early screening of diseases, and availability of technologically advanced screening tools. The research also analyzes the physical examinations segment.
North America to maintain its lead status during the forecast period
Based on region, North America contributed to the largest share in terms of revenue, accounting for nearly half of the global colposcopes market in 2018, and is projected to maintain its lead status during the forecast period. This is due to increase in awareness, availability of advanced healthcare facilities, and trained medical professionals. However, Asia-Pacific is estimated to grow the fastest CAGR of 6.1% from 2019 to 2026, owing to improved healthcare infrastructure, favorable healthcare reforms, and technological advancements in healthcare.
The Cooper Companies, Inc. (Wallach Surgical Devices)
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