Global Obstetrics Devices Market - Segmented by Delivery Type, by Product, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global obstetrics devices market is expected to register a growth rate of nearly 7.4% during the forecast period, 2018-2023. Obstetrics devices are associated with delivery / labor devices and differ according to the type of delivery. The rise in assisted deliveries is expected to drive the market for obstetrics devices over the forecast period.
Rise in Obstetric Complication and Assisted Deliveries to Propel the Market
Rise in preterm birth, obesity, PCOS and other gynecological conditions lead to increased obstetric complications and assisted deliveries. Increasing obesity results in the rise in labor complications and growing number of C-section deliveries. Moreover, the other conditions such as PCOS, and diabetes are also leading to adverse labor conditions heartening the adoption of assisted deliveries around the world. According to the data by Centers for Disease Prevention and Control (CDC) the C-section deliveries accounted for 31.9% of the total births in the United States as of the total birth as of 2017. Hence, the increasing number of C-section deliveries and assisted deliveries are expected to drive the global market over the forecast period.
Stringent Regulatory Guidelines to Limit Market Growth
The stringent regulatory guidelines associated with the safety, efficacy, and accuracy of the obstetrics devices are expected to restrain the market growth. The obstetrics devices are covered under Class II medical devices and have to go through tedious approval procedures. The FDA not only regulates the design and preclinical results but also monitors the accuracy, safety, and efficacy of the obstetrics devices post approval. This is in turn expected to hamper the adoption of obstetrics devices and increase complications in their approval procedures. Hence, impeding the market for obstetrics devices over the forecast period.
Asia-Pacific to Witness the Lucrative Growth
The presence of large prospect patient pool in countries such as India, and China drives the market for obstetrics 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 to healthy child birth. Hence, increasing awareness regarding healthy, and safe delivery facilities are expected to drive the market in the region. In addition, the awareness about risks associated with improper delivery and rising cases of infant mortality is boosting the market growth. Hence Asia-Pacific is expected to emerge as the fastest growing region in the global market over the forecast period.
Key Developments in the Market
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