Colposcopy Market Size By Product Type (Optical, Digital), By Mobility (Fixed, Portable, Handheld), By Area of Diagnosis (Pelvic, Oral), By End-use (Hospitals, Clinics, Diagnostic Centers), COVID-19 Impact Analysis, Regional Outlook, Product Potential, Competitive Market Share & Forecast, 2021 - 2027
The colposcopy market is set to witness considerable growth by 2027 on account of rising incidences of cervical cancer worldwide. Moreover, increasing awareness among women about reproductive health and timely diagnosis of illnesses is likely to drive market growth over the forecast period.
Colposcopy refers to the process of detecting cancerous cells or abnormal cells that could potentially become cancerous in the vagina, cervix, or vulva. A colposcope gives medical professionals an illuminated, enlarged picture of the tissues to help them find any abnormalities. Growing research efforts in the field of oncology to develop enhanced medical devices and tools for the diagnosis of various types of cancers have bolstered industry demand.
Notably, leading industry players are implementing strategic measures to monetize emerging trends and strengthen their market standing, which has positively influenced the global business landscape. For instance, in July 2021, DYSIS Medical Inc., a medical technology company, announced the launch of a novel portable colposcope dubbed DYSIS® View, which includes the company’s unique computer-aided cervical mapping technology that assists healthcare practitioners in detecting cervical abnormalities more clearly.
In another instance, in October 2019, Edan Diagnostics Inc., a subsidiary of Edan Instruments, Inc., announced the acquisition of the POCT (point-of-care testing) platform of LGC's ClariLight molecular diagnostics. The deal entailed a collaboration with LGC, a prominent player in the life sciences sector, for the development of Clarilight-specific molecular diagnostic assays as well as the supply of oligonucleotides and enzymes.
The colposcopy market has been categorized on the basis of mobility, product type, area of diagnosis, end-use, and region. In terms of product type, the market has further been bifurcated into digital and optical. The optical sub-segment is expected to surpass a valuation of USD 102.6 million by the end of 2027.
With respect to mobility, the colposcopy market has been segregated into portable, handheld, and fixed. In 2020, the portable sub-segment was valued at more than USD 84.5 million and is anticipated to progress at a steady CAGR through the assessment timeline.
Based on area of diagnosis, the market has been segmented into pelvic and oral. The oral sub-segment is slated to expand at a CAGR of nearly 2.9% over the analysis period.
From the end-use perspective, the market has been divided into diagnostic centers, clinics, and hospitals. The hospitals sub-segment held a sizable market share of around 58.2% in 2020 and is likely to grow at a notable pace over 2021-2027.
On the regional spectrum, Latin America accounted for approximately 7.0% of the colposcopy market in terms of revenue in 2020 and is speculated to see optimistic growth over the forecast period. The Middle East & Africa colposcopy market is estimated to exhibit significant growth by 2027, expanding at above 3.9% CAGR through the projected timeline.
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