Wilmington, New Castle, Delaware, Feb. 19, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Gynecological Devices Market by Product Type (Gynecological Endoscopy Devices, Endometrial Ablation Devices, Fluid Management Systems, Female Sterilization, and Contraceptive Devices, Diagnostic Imaging Systems) and End User (Hospitals, Diagnostic Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global gynecological devices market was valued at $8.5 billion in 2022 and is estimated to reach $17.2 billion by 2032, exhibiting a CAGR of 7.3% from 2022 to 2032.
Prime Determinants of Growth
Growing healthcare infrastructure, advancements in technologies, and increased consumer awareness are the factors that drive the growth of the global gynecological devices market. However, the high cost of advanced technologies hinders market growth. On the contrary, a rise in healthcare expansion is expected to offer remunerative opportunities for the gynecological devices market during the forecast period.
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Report Coverage & Details
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size In 2022 | $8.5 Billion |
| Market Size In 2032 | $17.2 Billion |
| CAGR | 7.3% |
| No. Of Pages In Report | 250 |
| Segments Covered | Product Type, End User, And Region |
| Drivers | Technological Advancements, |
| Rising Incidence of Gynecological Disorders And Conditions | |
| Growing Aging Population | |
| Opportunities | Growth Opportunity in Emerging Markets |
| Restraints | High Cost of Advanced Technologies |
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Recession Scenario
- During a recession, the impact on the healthcare industry, including gynecological devices, can be significant.
- The economic downturns may hinder technology investment. However, the growing awareness regarding the use of gynecological devices and rise in gynecological diseases can drive interest in gynecological devices market growth.
The female sterilization and contraceptive devices segment to maintain its lead position during the forecast period.
By product type, the female sterilization and contraceptive devices segment accounted for the largest share in 2022, accounting for almost two-fifths of the global gynecological devices market revenue. This is primarily attributed to high prevalence of female sterilization and the ongoing demand for contraceptive devices, it is anticipated to maintain its leading revenue share. Factors such as increasing awareness, accessibility, and the importance of reproductive health are likely to sustain the dominance of the female sterilization and contraceptive devices segment in the forecast period.
However, the diagnostic imaging systems segment is projected to register highest CAGR of 8.3% during the forecast period owing to the growing awareness of the importance of regular screenings and advancements in imaging technologies contribute to the rising demand for these diagnostic tools. Moreover, continuous innovation in imaging modalities, improved resolution, and enhanced capabilities for early disease detection are key factors driving the accelerated growth of the diagnostic imaging systems segment.
The hospitals segment maintained its lead position during the forecast period.
By end user, the hospitals segment accounted for the largest share in 2022, accounting for almost three-fifths of the global gynecological devices market revenue. Hospitals often serve as hubs for integrated healthcare delivery, making them crucial for addressing diverse gynecological needs. As the demand for gynecological services continues to rise, fueled by population growth and increasing healthcare awareness, hospitals are expected to sustain their lead in terms of revenue in the forecast period. The comprehensive nature of care offered by hospitals positions them as key end users in the gynecological devices market.
However, the others segment is projected to register a highest CAGR of 8.2% during the forecast period owing to several factors. Diagnostic centers are gaining popularity due to increased demand for specialized gynecological services, technological advancements, and collaborative research efforts. These healthcare settings offer efficient and specialized care, driving the adoption of advanced gynecological devices, contributing to the segment's rapid growth during the forecast period.
North America maintains its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for almost two-fifths of the global gynecological devices market revenue owing to a well-established healthcare infrastructure and high healthcare expenditure. Furthermore, the presence of major market players and academic research institutions fosters innovation and product development. In addition, a growing elderly population, which often requires gynecological care, and increasing incidences of gynecological disorders contribute to sustained market growth.
However, Asia-Pacific is projected to register the highest CAGR of 8.7% during the forecast period owing to rapid economic development and urbanization, leading to an expansion of healthcare infrastructure and increased accessibility to medical services. In addition, government initiatives to improve healthcare systems, advancements in medical technology, and a rising middle class with greater healthcare spending capabilities are driving the growth of the gynecological devices market in Asia-Pacific.
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Leading Market Players:
- Boston Scientific Corporation
- CONMED Corporation.
- Medtronic plc
- Olympus Corporation
- Smith and Nephew plc.
- Stryker Corporation
- FUJIFILM Holdings Corporation
- HOYA Corporation
- Johnson and Johnson
- Karl Storz GmbH & Co. KG
The report provides a detailed analysis of these key players of the global gynecological devices market. These players have adopted different strategy such product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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