Gynecological devices comprise medical equipment required for examination, diagnosis, and treatment of conditions associated with the female reproductive system. Introduction of advanced techniques and devices such as magnetic resonance imaging, computed tomography, and ultrasound has resulted in tremendous growth of the global gynecological devices market across the globe.
In 2014, the global market for gynecological devices was worth US$14.9 bn and is estimated to reach a value of US$22.6 bn by the end of 2023. The market is expected to exhibit a healthy 4.80% CAGR between 2015 and 2023.
Rising Prevalence of Gynecological Diseases to Drive Global Gynecological Devices Market
The changing lifestyle of the female population in the modern world has abruptly augmented its healthcare requirements. These healthcare requirements are majorly due to delayed marriages, delayed childbirth, and lower fertility rates. In addition, the growing awareness regarding healthy lifestyles has resulted in increased demand for advanced gynecological treatments around the world. Moreover, the prevalence of gynecological diseases such as uterine fibroids, menorrhagia, and cervical cancer has been increasing tremendously, resulting in high demand for gynecological procedures and devices. These factors have offered opportunities to medical device manufacturers to introduce devices providing quick recovery, minimal discomfort, and better efficiency for patients. However, delay in the approvals from regulatory authorities is the major restraining factor for the growth of the global gynecological devices market.
Based on product type, the global market for gynecological devices can be broadly classified into surgical devices, diagnostic imaging systems, hand instruments, and gynecological chairs. Presently, the surgical devices segment holds the largest share in the global gynecological devices market. Technological advancements in the medical devices industry have offered several devices such as fluid management systems, endometrial ablation devices, contraceptive devices, endoscopy devices, and female sterilization devices. These devices have helped in providing minimally invasive surgical procedures resulting in a reduced risk of infection and minimal bleeding. On the flip side, the diagnostic imaging systems segment is anticipated to exhibit a progressive 5.80% CAGR between 2015 and 2023. Technological developments in ultrasound systems such as color imaging, spectral Doppler, and 3D imaging are some of the major factors that are driving the diagnostic imaging systems segment.
Presence of Large Patient Pool to Drive Asia Pacific Market for Gynecological Devices
Based on geography, the global market for gynecological devices can be divided into Latin America, North America, Europe, Asia Pacific, and Rest of the World. In 2014, the North America gynecological devices market accounted for the largest market share and is estimated to remain in the leading position in the next few years. On the other hand, the Asia Pacific gynecological devices market is expected to grow substantially in the next few years owing to several factors such as the developing macroeconomic environment, growing preference for minimally invasive procedures, and the presence of a large patient pool. The Asia Pacific gynecological devices market is anticipated to reach a value of US$6.2 bn by the end of 2023.
The prominent players operating in the global gynecological devices market are Hologic, Inc., Medtronic, Inc., Boston Scientific Corporation, Richard Wolf GmbH, CooperSurgical, Inc., Ethicon, Inc., Karl Storz GmbH, Stryker Corporation, and Olympus Corporation.
A laboratory-developed test (LDT) is a kind of in-vitro diagnostic test that faces a limitation of being developed, manufactured and processed within an individual laboratory. In the United States, the federal government regulates the development, manufacturing and use of LDTs through the Centers for Medicare and Medicaid Services (CMS) and the Clinical Laboratory Improvement Amendments (CLIA). In July 2014, the United States Food and Drug Administration (FDA) announced to start regulating some LDTs. A number of LDTs are commercially available for the analysis of substances such as DNA, proteins, glucose and cholesterol in sample taken from human beings. There are many hospitals and laboratories that prefer to offer their own LDTs, even though FDA-approved in-vitro diagnostic tests are available on the market for the same analyte. LDT developers cannot sell their proprietary tests to hospitals, clinical laboratories and physician offices directly, and hence, adopt a business model wherein they enter into partnerships with diagnostic service providers and pathology labs that collect the sample and ship it to them.
As versatile diagnostic devices, blood gas and electrolyte analyzers have gained immense popularity across the medical fraternity. Diagnostic outcomes gained with the help of these devices, coupled with other tests, have led to accurate diagnosis of various chronic diseases such as uncontrolled diabetes, asthma, chronic obstructive pulmonary disease (COPD), and drug overdose. The global blood gas and electrolyte analyzer market is estimated to expand at a CAGR of 9.66% during the period between 2015 and 2023. The overall market was worth US$1.44 bn in 2014 and is anticipated to stand at a valuation of US$3.48 bn by 2023.
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The rising use of medical fiber optics in minimally invasive surgeries has been augmenting the demand from the global medical fiber optics market. In its report, titled “Medical Fiber Optics Market- Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2013 - 2019,” Transparency Market Research provides a holistic overview of the global medical fiber market and presents insights into the growth drivers and restraints impacting its growth trajectory.
A DNA chip, also referred to as a DNA microarray, is comparable to a computer chip. The key differentiating factor between the two is that a computer chip is imbedded with electronic circuitry, whereas a DNA gene chip is imbedded with DNA molecules. Or else it can be stated that DNA chip is a collection of DNA spots that are embedded on the solid surface. A DNA gene chip is about the size of a postage stamp. This technology has become very popular in the drug discovery and medical research sector as it significantly brings down research time. DNA microarrays play a vital role in helping medical researchers simultaneously measure the expression levels of several thousands of genes. The spiraling popularity of DNA chips has prompted many new players to enter the market and profit from their growing demand. In view of these aspects, the market for DNA gene chips is projected to show double-digit growth over the forecast period of this report. This technology is used to measure the expression levels of thousands of gene together at the same time.
A new market research report by Transparency Market Research, titled “Bio-Implants Market - Global Industry Analysis, Size, Share And Forecast 2012 – 2018,” provides an extensive assessment of the market for bio-implants and comprises facts, insights, historical data, and industry-validated and statistically supported market data. It also comprises projections utilizing an apt set of methodologies and assumptions. The study presents information and evaluation on the basis of geography and application. This study is a compilation of quantitative and qualitative assessment by industry participants and industry experts across the value chain. An in-depth evaluation of macro-economic indicators, parent market trends, and market attractiveness has been provided with the help of this research report.