- Minimally Invasive Therapies to Attract Attention of Device Manufacturers in the Gynecological Devices Market, Delay in Approvals and Product Recalls Key Challenges for Stakeholders
- Incorporation of Robotics in Surgeries to Expand the Horizon for Market Participants, North America Held Major Regional Share Market in 2018 Propelled by High Awareness about Morbidity of Gynecological Disorders
ALBANY, N.Y., Dec. 24, 2020 /PRNewswire/ -- Gynecological diseases are the primarily the diseases that involve women's reproductive system. Globally, these have a high burden and also mortality, such as the prevalence of endometrium cancer and cervical cancer. Sexually transmitted disease (STD) have been particularly prevalent in the patient population. All these trends shape the prospects of the gynecological devices market.
Rapid advances have been made in both the clinical expertise of surgeons and the devices that are used for minimally invasive surgeries. A case in point is the growing demand for new technologies in devices used in minimally invasive hysterectomies.
Growing demand for gynecological devices in laparoscopy and endoscopy has helped propelled revenue expansion in the market. Globally, the gynecological devices market is expected to reach worth of US$ 25,267.43 Mn, clocking CAGR of 3.8 % from 2019 to 2027.
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Key Findings of Gynecological Devices Market
- In 2018, the global valuation of the market was pegged at US$ 17,449.09 Mn
- The market is garnering new opportunity from continuing shift to minimally invasive surgeries
- In the above regard, da Vinci robotic platform and single port laparoscopic surgery (SPLS) are popular approaches
- Of the various products, surgical device segment held the major share in 2018
- Regionally, North America held the major share in 2018
- The North America gynecological devices market is trailed by Europe
- Opportunities in Asia Pacific expected to make rapid expansion during the forecast period
- China a potentially lucrative country market in Asia Pacific
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Gynecological Devices Market: Key Driving Factors and Promising Avenues
- Growing severity of gynecological disease is a key trend bolstering the demand in the gynecological devices market
- Some of the common gynecological conditions are uterine fibroids, ovarian cysts, abnormal vaginal bleeding, genital tract infections, and vagina skin disorders. Over the years, women have growing increasingly aware of the burden of these, and are making clinic visits to address their concerns. This is a key factor underpinning the sales in the gynecological devices market.
- In developing regions, the burden of HIV and sexually transmitted diseases is high, both due to living working conditions and improving healthcare infrastructure in these parts of the world.
- The growing incidence of endometrium cancer and its substantial mortality are key factors boosting the demand for minimally invasive surgical procedures in the patient population. Rapid advancements have been brought by medical device makers to make the surgeries minimally invasive.
- Ovarian cancer, one of the most common cancer in women in the world, has nudged women to give importance to clinical conditions of the related gynecologic diseases.
- Rapidly increasing traction of robotics and other automation technologies in gynecological disorders has been expanding the avenue in the gynecological devices market.
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Gynecological Devices Market: Competitive Dynamics and Key Impediments for Stakeholders
The regulatory outlook does not seem very favorable to gynecological devices market players in key regions. For instance, the approval policies of the U.S Food and Drug Administration (FDA), such as 510(k) and premarket approval (PMA) norms, need to be more conducive to the marketing of pioneer products. On the other hand, there have been significant number of product recalls vis the PMA processes in the U.S. in the last few years. Moreover, even large medical device manufacturers may be reluctant to bear the cost of stringent documentation.
Nevertheless, medical device makers are leaning on leveraging the strength of robotics surgeries to expand their revenue-earning potential. A large number of players make the landscape increasingly fragmented. Some of the well-entrenched players are Karl Storz Gmbh & Co., Hologic, Inc., Olympus Corporation, Stryker Corporation, and Johnson & Johnson Services.
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