Global Gynecological Devices Market - Segmented by Product, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global gynecological devices market is expected to register a growth rate of nearly 7.4% during the forecast period, 2018-2023. Gynecological devices refer to surgical and monitoring devices used for gynecological conditions and disorders, such as fluid management, endometrial ablation, female sterilization, and gynecological endoscopy.
Rising Gynecological Disorders and Associated Surgical Procedures to Propel the Gynecological Devices Market
Increase in gynecological disorders, such as ovarian cancer, cervical cancer, uterine cancer, polycystic ovarian syndrome (PCOS), and vaginal and vulvar cancer are driving the market for gynecological devices across the world. The American Cancer Society states that average age of endometrial cancer diagnosis in women is 60, whereas it isn’t common amongst women below the age of 45. In addition, WHO suggests a routine endometrial ablation procedure should be performed for women above the age of 35, in order to avoid the risks associated with endometrial cancer. Obesity, diabetes, and PCOS patients are more susceptible to endometrial cancer at the ages of 18 to 35 and require endometrial biopsy. This is in turn increasing the demand for gynecological devices globally.
Similarly the rise in other issues such as PCOS, ovarian cancer, vaginal cancer, and uterine cancer lead to the growing adoption of surgical procedures, such as endoscopy, laparoscopy, and female sterilization. Hence, the rise in gynecological cancers and increasing surgical procedures associated with them are expected to drive the overall gynecological disorders market over the forecast period.
Stringent Regulatory Guidelines to Limit Growth of the Gynecological Devices Market
The stringent regulatory guidelines associated with the safety, efficacy, and accuracy of the gynecological devices are expected to restrain the market growth. The gynecological devices are covered under Class II medical devices and have to go through tedious approval procedures. The FDA not only regulates the design, preclinical results but also monitors the accuracy, safety and efficacy of the gynecological devices post approval. This is in turn expected to hamper the adoption of gynecological devices and increase complications in their approval procedures. Hence, impeding the market for gynecological devices over the forecast period.
Asia-Pacific to Witness the Lucrative Growth in the Global Gynecological Devices Market
The presence of large prospect patient pool, in countries like India and China, drives the market for gynecological devices in the Asia-Pacific region. Hence, the region is expected to exhibit lucrative growth rate over the forecast period.
The large population base of these countries have encouraged government initiatives for birth control. This has led to an increase in the awareness concerning contraception that has in turn led to the adoption of female sterilization devices. One such example is the birth control measures in China, which emphasized the one child policy.
In addition, the higher prevalence of sexually transmitted diseases amongst the youth in countries, such as Vietnam, Japan, and Bangladesh due to lack of easy access to the contraceptive products and the lack of awareness are expected to create new growth opportunities for the market players. Hence, owing to the aforementioned factors, the Asia-Pacific gynecological devices market is expected to exhibit fastest growth rate over the forecast period.
Key Developments in the Gynecological Devices Market