Gynecological Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Gynecological Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The gynecological devices market is expected to register a CAGR of 4% over the forecast period.

COVID-19 had a significant impact on the overall healthcare industry including the gynecological devices market. For instance, as per the article published in December 2021 under the title “Effects of the COVID-19 pandemic on obstetrics and gynecology residency training in Turkey”, important interventions in obstetrics and gynecology, such as emergent cesarean section or labor, make obstetrics and gynecology an emergent department. The trainees had to utilize gynecological devices and endoscopes as a part of their procedures. Therefore, when dealing with emergent interventions, trainees were faced with the risk of virus contamination from asymptomatic COVID-19 cases. Even with well-equipped or qualified workers, interventions might go wrong when there was high stress during obstetrics and gynecological care. Furthermore, as per the article published in January 2022 under the title “Laparoscopic gynecological surgery in COVID-19 pandemic”, for some urgent treatments, like ruptured ectopic pregnancy and ovarian torsion, laparoscopy is the best option. But there are some concerns among surgeons everywhere about the potential for SARS-CoV-2 transmission through the development of a pneumoperitoneum during laparoscopy. Hence COVID-19 had a significant impact on the gynecological devices market.

An increase in gynecological disorders, such as ovarian cancer, cervical cancer, uterine cancer, vaginal cancer, and vulvar cancer, is driving the market for gynecological devices across the world. The American Cancer Society 2022 update stated that the average age of endometrial cancer diagnosis in women is 60, whereas it isn’t common amongst women below the age of 45. Furthermore, about 65,950 new cases of cancer of the body of the uterus (uterine body or corpus) were diagnosed in 2022 in the United States. These estimates include both endometrial cancers and uterine sarcomas. Up to 10% of uterine body cancers are sarcomas, so the actual numbers for endometrial cancer cases and deaths are slightly lower than these estimates.

In addition, The World Health Organization 2022 update stated that, with an anticipated 604,000 new cases in 2020, cervical cancer is the fourth most common malignancy in women worldwide. 90% of the anticipated 342,000 cervical cancer deaths in 2020 took place in low- and middle-income nations. The high mortality rate from cancer could be reduced through a comprehensive approach that includes prevention, early diagnosis, effective screening, and treatment programs. This, in turn, leads to high demand for gynecological devices globally. Furthermore, the increased awareness regarding gynecological health is a major fuelling factor for the market growth. For instance, in September 2022, the Rivkin Center for Ovarian Cancer and the American Association for Cancer Research is presenting the 'Virtual Ovarian Cancer Research Series'. The goal of the seminar series is to bring together clinicians and researchers from across many disciplines and institutions worldwide to share ideas and advance the field of ovarian cancer research.

Hence as per the factors mentioned above, the gynecological devices market is likely to grow over the forecast period. However, stringent regulatory guidelines relating to the devices restrain the market growth.

Key Market TrendsBalloon Ablation Devices Segment is Expected to Show Better Growth Over the Forecast Years

A thermal balloon endometrial ablation is an operation that uses a special balloon filled with hot fluid to thin the lining (endometrium) of the uterus (womb). After the operation most women have a noticeable reduction in their periods and, for some women, periods stop altogether. The growth of the endometrial balloon ablation devices segment is mainly attributed to the rising burden of endometrial cancer and the rising adoption of these devices due to their ease of use and convenience. For instance, according to the World Cancer Research Fund International report, endometrial (also known as womb or corpus uteri) cancer is the 6th most common cancer in women and the 15th most common cancer overall. There were more than 417,000 new cases of endometrial cancer in 2020. Factors including the development of endometrial ablation technology and its advantages over surgical methods help the market grow. Other advantages of endometrial balloon ablation over other surgical techniques include quicker recovery times, less discomfort, minimal invasion, and shorter operating times.

Furthermore, the presence of competitors, product launches, and research and development in the field of endometrial balloon ablation uplift the market growth. For instance, in November 2021, Hologic, Inc., a global leader in women's health, launched its NovaSure V5 global endometrial ablation (GEA) device at the American Association of Gynecologic Laparoscopists (AAGL) 50th Global Congress in November 2021. The most studied and trusted endometrial ablation procedure in the United States, the innovative new NovaSure V5 device represented Hologic's ongoing commitment to enhancing the physician experience. Moreover, as per the article published in May 2022 under the title “Modified Thermal Balloon Endometrial Ablation for Treatment of Heavy Menstrual Bleeding”, the study depicted that modified thermal balloon ablation with Foley's catheter is likely to be the best option in the management of heavy menstrual bleeding (HMB) in resource-poor settings. It is found to be a cost-effective alternative to the original endometrial ablation techniques. Such modifications in the balloon endometrial ablation devices and their increased advantages are anticipated to boost market growth.

Hence, owing to the aforementioned factors, along with the rising adoption of endometrial balloon ablation devices, the segment is expected to witness rapid growth over the forecast period.

North America is Expected to Hold the Largest Share in the Gynecological Devices Market Over the Forecast Period

The North American region holds the largest share of the gynecological devices market, due to the increasing burden of gynecology-related cancer, the strong presence of device manufacturers, and technological advancements. According to the American Cancer Society, in 2022, an estimated 65,950 new Uterine corpus cancer cases were diagnosed in the United States. Among all the cancers, there is a major concern for cervical cancer which is growing rapidly in American women. The estimated count of cervical cancer in 2022 is 14,100 in the United States. Furthermore, as per the Canadian Cancer Society 2022 update, an estimated 8,100 Canadian women are likely to be diagnosed with uterine cancer in 2022. Hence, the high incidence of cancer is augmenting the demand for gynecology devices across the country.

Additionally, other factors such as rising awareness among women, increasing prevalence of gynecological disorders, and well-established healthcare infrastructure are expected to drive the growth of the gynecological devices market in the forecast period. For instance, during January, the National Cervical Cancer Coalition (NCCC) and its many local chapters across the country highlight issues related to cervical cancer, Human papillomavirus (HPV) disease, and the importance of early detection. While NCCC chapters host events throughout the year, January is a month with a special focus as chapters celebrate Cervical Health Awareness Month and work to spread the word in their communities. Moreover, the presence of competitors, mergers, and acquisitions relating the gynecology devices across the country boosts the market growth. For instance, in October 2021, Hologic, Inc., a global leader in women’s health, signed a definitive agreement to acquire Bolder Surgical, a privately held, United States-based company that provides advanced energy vessel sealing surgical devices, for approximately USD 160 million, subject to working capital and other customary closing adjustments. The complementary acquisition of Bolder Surgical is likely to add to Hologic’s surgical product line, which includes the NovaSure, an endometrial ablation system for the treatment of abnormal uterine bleeding, the MyoSure, tissue removal devices for the treatment of intrauterine fibroids and polyps, the Acessa laparoscopic radiofrequency ablation system for the treatment of fibroids, and the Fluent, fluid management system for streamlining hysteroscopic procedures.

Hence as per the aforementioned factors, North America is expected to have a significant share of the market revenue throughout the forecast period.

Competitive Landscape

The market studied is moderately competitive, and there are several global companies that are operating in this market. The major players in the gynecological devices market are Boston Scientific Corporation, Hologic Inc., Johnson & Johnson, Karl Storz SE & Co. KG, Medtronic PLC, Olympus Corporation, Richard Wolf GmbH, Stryker Corporation, and The Cooper Companies Inc.

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