Gynecological Devices Market Shows Rapid Growth

Rising revenue in the global gynecological devices market is being driven by growth of the surgical devices segment. These are the latest findings of Transparency Market Research (Albany, NY, USA), a global information and research provider.

According to the report, the major drivers of the surgical devices segment are growth in acceptance of minimally invasive surgical procedures as a viable substitute for hysterectomy, increase in the prevalence of gynecological conditions, growth in women's preference for more innovative and effective gynecological procedures, the rise in global healthcare expenditure, and the aging baby boomer population. The use of endoscopes in performing gynecological surgeries has also turned out to be the prime developments in the gynecological devices market in the past few years.

In the last decade, as the prevalence of gynecological diseases increased, the number of gynecological procedures performed has also increased. Change in the lifestyle of the global female population has gradually enhanced their healthcare requirements, and as awareness about health and well-being is on a continuous rise, the demand for better gynecological treatments has increased. Sensing this opportunity, medical device manufacturers worldwide have devised more innovative gynecological devices that have better efficacy and cause less discomfort to the patients by offering quick recovery.

The evolution of endometrial ablation devices for the treatment of menorrhagia has resulted in growth in demand for endometrial ablation procedures, one of the results being that new, second generation endometrial ablation devices are safe, minimally invasive and less time consuming in nature. In addition, the latest generation of female sterilization and contraceptive devices such as transcervical sterilization implants and subdermal contraceptive implants and introduction of robotic endoscopy in gynecological surgeries indicate that the future of gynecological devices will witness fair growth.

In terms of geographic distribution, North America commanded the largest market share in the global gynecological devices market in 2011, mainly due to well-evolved reimbursement policies along with the initial introduction of devices only in the US market. However, it is expected that the shift of focus of gynecological device manufacturers will move towards European and Asia-Pacific market due to the delay in approval of medical devices by the US Food and Drug Administration (FDA). Furthermore, the Asia-Pacific market is showing increasing awareness and preference for minimally invasive surgeries and an increase in government funding and developmental initiatives in healthcare facilities.

Transparency Market Research predicts that the global gynecological devices market was worth USD 3.4 billion in 2011, and is expected to reach USD 5.3 billion in 2018, growing at a compound annual growth rate (CAGR) of 6.4% from 2012 to 2018.

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