Press release
Gynecological Devices Market Expected to Achieve 9.1% CAGR by 2029: Growth Forecast Insights
Gynecological Devices
How Large Will the Gynecological Devices Market Size By 2025?
The market for gynecological devices has seen robust growth in recent years and is anticipated to expand from $13.16 billion in 2024 to $14.18 billion in 2025, at a compound annual growth rate (CAGR) of 7.8%. Factors contributing to the upsurge during the historical period include the introduction of laparoscopic surgery, advances in intrauterine devices (IUDs), the progression of hysteroscopy, the onset of robotic surgery, and improvements in diagnostic imaging.
How Big Is the Gynecological Devices Market Size Expected to Grow by 2029?
In the years to come, there is an anticipation for significant growth in the gynecological devices market. The predicted growth rate indicates the market will reach a worth of $20.09 billion by 2029, with a compound annual growth rate (CAGR) of 9.1%. Factors responsible for this forecasted growth are increased expenditure on women's healthcare, robot-assisted surgical advancements, customizable treatment options, and the growth of ambulatory surgical centers. The trends that will shape this period include minimally invasive procedures, a transition to ambulatory settings, a spotlight on women's health consciousness, patient-oriented strategies, and increased investment in research and development.
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Which Key Market Drivers Powering Gynecological Devices Market Expansion and Growth?
The surge in gynecological disorders is anticipated to drive the expansion of the gynecology devices market in the near future. Gynecology devices, which manage the female reproductive system including pregnancy and childbearing, are used to deal with a myriad of health issues that disrupt the normal operation of female reproductive organs such as the breasts, and abdominal and pelvic organs. These devices perform an array of medical procedures like colposcopy, loop electrical excision procedure (LEEP), endometrial biopsy, IUD insertion, dilation and curettage (D&C), tubal ligation, ovarian cystectomy, and more. The World Health Organization, a Switzerland-based intergovernmental organization, noted in March 2023 that endometriosis is affecting around 190 million women and girls who are of reproductive age across the world, for instance. The rise in such conditions is fueling the growth of the gynecological devices market. Coupled with this, as per a report by the American Cancer Society, a US-based non-profit organization, nearly 13,960 fresh cases of invasive cervical cancer are expected to be detected in 2023, putting about 4,310 women at risk of death from the disease in the same year. This increasing occurrence of gynecological disorders underscores the driving force behind the expansion of the gynecological devices market.
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Which Fast-Growing Trends Are Poised to Disrupt the Gynecological Devices Market?
Emerging technologies are becoming a prominent trend in the gynecological devices industry. In order to stay competitive, firms in the market are adapting to new innovations. A case in point is Boston Imaging (Samsung), an American firm specializing in medical imaging technology, which in February 2023, unveiled the Hera W10 Elite, a women's health ultrasound system powered by artificial intelligence. This remarkable system allows for a comprehensive view of microcirculation and slow-moving blood in both 2D and 3D formats. The Hera W10 Elite utilizes a superior MV-Flow feature and an enlarged organic light-emitting diode (OLED) display to better distinguish ultrasound images used in obstetrics and gynecology procedures, thereby providing clinicians with a deeper understanding for diagnosis. Additionally, the system incorporates a unique transducer for endovaginal viewing of fetal brain and heart structures. Enhanced AI features of this system include HeartAssist, ViewAssist, and BiometryAssist.
What Are the Emerging Segments in the Gynecological Devices Market?
The gynecological devices market covered in this report is segmented -
1) By Device: Surgical Devices, Diagnostic Imaging Systems, Hand Held Instruments, Software, Other Devices
2) By Application: Laparoscopy, Hysteroscopy, Dilation And Curettage, Colposcopy, Other Applications
3) By End User: Clinics, Hospitals, Diagnostic Centers, Research Institutes, Others End Users
Subsegments:
1) By Surgical Devices: Hysteroscopes, Laparoscopes, Endometrial Ablation Devices, Biopsy Forceps
2) By Diagnostic Imaging Systems: Ultrasound Machines, MRI Systems, CT Scanners, X-ray Systems
3) By Hand Held Instruments: Speculums, Forceps, Scissors, Scalpels
4) By Software: Electronic Medical Records (EMR) Software, Imaging Software, Data Management Software
5) By Other Devices: Contraceptive Devices, Menstrual Cups, Pelvic Floor Devices
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Who Are the Global Leaders in the Gynecological Devices Market?
Major companies operating in the gynecological devices market include Medtronic plc, CooperSurgical Inc., Richard Wolf GmbH, Hologic Inc., Boston Scientific Corporation, Stryker Corporation, Karl Storz SE & Co. KG, Ethicon Inc., MedGyn Products Inc., General Electric Company, Gynex Corporation, Bayer AG, Gynemed Medizinprodukte GmbH & Co. KG, Meril Life Sciences Pvt. Ltd., Cook Group Inc., B. Braun Melsungen AG, Siemens Healthineers AG, Smith & Nephew plc, Steris Corporation, Abbott Laboratories, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Medline Industries Inc., Mindray Medical International Limited, Olympus Medical Systems Corporation, Cardinal Health Inc.
Which are the Top Profitable Regional Markets for the Gynecological Devices Industry?
North America was the largest region in the gynecological devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the gynecological devices market report forecast period. The regions covered in the gynecological devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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