Major factors driving the growth of this market include a high incidence of gynecological diseases, increasing awareness of gynecological diseases, and rising government investments for providing advanced healthcare facilities & services. In addition, emerging Asian markets have opened an array of opportunities for players in this market. However, the increasing preference for robotic surgeries may restrain the growth of this market.
Revenue Growth Opportunities?
The Gynecology Surgical Instrument Market is expected to reach USD 2.44 Billion, at a CAGR of 7.1% during the forecast period.
Market Segmentation in Depth:
Based on product, the market is segmented into forceps, scissors, needle holders, dilators, trocars, vaginal speculums, and other instruments. The forceps segment dominated the market by holding the largest share in 2016 and also experience the highest growth during the forecast period. The high growth in this segment is attributed to the increase in the number of gynecological surgeries, and the repeated use of forceps in most gynecological surgeries.
Based on application, the gynecology surgical instrument market is further divided into laparoscopy, hysteroscopy, dilation and curettage, colposcopy, and other applications. Laparoscopy forms the largest and fastest-growing application segment of the global market. This is mainly attributed to the various advantages of laparoscopy procedures, which includes less blood loss, shorter hospital stays, and fewer intraoperative & postoperative complications. Hysteroscopy forms the second largest segment due to factors such as the increasing incidence of fetal deaths and rising demand for minimally invasive surgeries.
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Geographical Growth Analysis in Depth?
Based on region, the market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America accounted for the largest share of this market. However, the Asian market is expected to grow at the highest CAGR mainly due to the increasing awareness programs, high incidence of gynecological diseases, increasing government initiatives focusing on women’s health, and improvements in the healthcare sector of Asian countries.
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Major Key Players in Depth:
Companies are focusing on adopting organic and inorganic growth strategies such as partnerships, agreements, collaborations, product launches, product enhancements, acquisitions, and expansions. These strategies help market players to strengthen their product offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.
Key players in this market include KARL STORZ GmbH & Co. KG (Germany), Richard WOLF GmbH (Germany), Olympus Corporation (Japan), CooperSurgical Inc. (U.S.), MedGyn Products (U.S.), Sklar Surgical Instruments (U.S.), and B. Braun Melsungen AG (Germany)