New York , Feb. 12, 2024 (GLOBE NEWSWIRE) -- The global colposcopy market size is projected to grow at a CAGR of over 4% from 2023 to 2035. The market is expected to garner a revenue of USD 700 billion by the end of 2035, up from a revenue of USD 488 billion in the year 2022. The growth of the market can be attributed to the increasing patient pool and exponentially rising disease burden. The colposcopy procedure has garnered approval as a primary technique for the diagnosis of cervical cancer. The cervical cancer is the fourth most common cancer in women all around the world. It has been estimated that in the year 2020, almost 604,010 new cases were diagnosed and 342,010 deaths occurred in the year 2020.
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All over the world, countries are working to boost the eradication of cervical cancer in the coming period. Women between the age group of 35 and 44 are most likely to be diagnosed with cervical cancer. There have been more people found with long-lasting infections with high-risk types of HPV (human papillomavirus). It has been estimated that almost 93.1% of cervical cancers are preventable and the colposcopy procedure is proving to be efficacious. The process of colposcopy successfully examines a person’s vagina, cervix, and vulva for sign of diseases. Furthermore, colposcopy is widely used by doctors to diagnose genital warts, inflammation of the cervix, precancerous changes in the tissue of the vagina, precancerous changes in the tissue of the cervix, and precancerous changes in the vulva. Hence, doctors are recommending colposcopy which is expected to boost the market growth.
Colposcopy Market: Key Takeaways
- Market in North America to propel highest growth
- Optical segment to garner the highest growth
- Market in Asia Pacific to grow at a significant rate
Growth in government’s initiatives to Boost Market Growth
The improved image quality is expected to enhance the diagnostic precision in the early stage of the cancer. Due to this, governments all over the world, are putting efforts and making people aware of various tests such as colposcopy. For instance, China conducted a campaign in which almost 120 million cervical cancer screenings were conducted. Similarly, more healthcare professionals in central Asia and Eastern Europe are being trained in clinical management and colposcopy in an UNFPA-led campaign. Researchers suggest that almost 80% of the new cases and deaths are preventable through screening programs. Apart from this, the Australian government unveiled the National Strategy for the eradication of cervical cancer with an investment of almost USD 34 million. In the Middle East region, the Israeli government conducting a large-scale screening project with a private firm. In the past, almost 9000 women were screened and the government is planning to expand tests to almost 50,000 women. The cumulative efforts from all over the world are expected to fuel the market.
Colposcopy Industry: Regional Overview
The global colposcopy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising healthcare expenditure to Drive Growth in the North America Region
The colposcopy industry in North America region is estimated to garner the largest revenue by the end of 2035. The region dominated the market in the year 2022 with the largest revenue share of almost 32%. The reason for the growth of the market in the region is rising healthcare expenditure. The United States spent nearly USD 4.11 trillion on healthcare in the year 2020. Furthermore, factors such as the adoption of colposcopy equipment, the remarkable presence of distribution channels, and easy access to healthcare technologies are fuelling the market growth in the region. Other than this, each year in the United States almost 3.1 million women are evaluated with colposcopy procedures by gynecologists. Additionally, the Pan American Health Organisation also launched a communication campaign to eliminate cervical cancer. On the back of this, the market in the region is expected to offer lucrative opportunities.
Presence of Large Patient Pool to Drive Growth in the Asia Pacific Region
The Asia Pacific colposcopy market is estimated to garner the largest revenue by the end of 2035. The fastest CAGR is anticipated to be witnessed in the Asia Pacific during the forecast period. For instance, according to the International Agency for Research on Cancer (IARC) in the year 2020, China has almost 109,100 new cases and 59,100 deaths due to cervical cancer. The incidences of cervical cancer in India are also rising exponentially. Cervical cancer is the 2nd leading cause of cancer deaths among women in India. The government is willing to bridge the gap between access to timely treatment and effective screening procedures. On the back of this, the colposcopy market is anticipated to garner remarkable share in the Asia Pacific region.
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Colposcopy Market Segmentation by Portability
- Fixed
- Portable
- Handheld
The fixed segment is anticipated to hold almost 47% of the share of global market by the year 2035. The fixed colposcopy’s devices are in high demand in the regions where technological development is going slow. Other than this, the handheld colposcopy devices are also anticipated to dominate. These types of devices provide enhanced clinical services, improved workflow, and a simple interface.
Colposcopy Segmentation by Type
- Digital
- Optical
Colposcopy Segmentation by End User
- Hospitals
- Diagnostic Centres
- Clinics
The hospital segment holds the largest revenue share of almost 33% in the year 2022. There has been a rising acceptance of technologically advanced biopsies for early diagnosis of cervical cancer. Such factors are responsible for the growth of the hospital segment in the coming duration.
A few of the well-known market leaders in the global colposcopy market that are profiled by Research Nester are Karl Kaps GmbH & Co. KG, Carl Zeiss Meditec AG, CooperSurgical, Inc, DYSIS Medical Inc, ATMOS Medizin Technik GmbH & Co. KG, Olympus Corporation, McKesson Medical Surgical Inc., Inline Systems, Optomic, Seiler Instrument & Manufacturing Company Inc., and other key market players.
Recent Development in the Market
- In 2022, Dr Anupama Bhute fabricated an android phone integrated colposcopy to detect cervical cancer. The gynaecologist also got a patent for the development.
- In 2021, a compact colposcope has been launched by DYSIS medical Inc., which include the company’s innovative computer-aided cervical mapping technology.
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