Gynecological Devices Market Competitive Landscape: Key Players and Strategies

 The global gynecological devices market size is expected to reach USD 18.1 billion by 2030, according to a new report by Grand View Research. It is expected to register a CAGR of 8.64% from 2023 to 2030. The rising women population, growing awareness regarding early diagnosis, and available treatments for gynecological disorders are anticipated to boost the growth of the industry. The rising adoption of gynecological procedures is estimated to boost product demand over the forecast period. According to the National Center for Health Statistics, in the U.S., cesarean deliveries accounted for 31.8% of the total deliveries in 2020 when compared with vaginal deliveries. A rise in the number of these procedures, increasing awareness, and growing disposable income are expected to drive the industry.

Early disease detection is imperative in devising treatment schedules. Pertinent government and regulatory agencies in collaboration with the above factors are now focusing majorly on improving patient awareness regarding reproductive and women’s health. This is expected to boost the growth of the industry during the forecast period. Furthermore, the COVID-19 pandemic has adversely affected the industry owing to the cancelation and postponement of elective surgeries, and a reduction of visits of the patients for gynecological surgeries. The demand for gynecological devices increased in the second half of 2020 with the ease of restrictions. The adoption of telehealth and technological advancements is expected to increase product demand during the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Gynecological Devices Market

Gynecological Devices Market Report Highlights

  • The surgical devices product segment held the largest revenue share in 2022 due to the recurring purchase of disposable products and the high cost of surgical devices
  • In 2022, the endoscopy devices segment held the largest revenue share. This is due to the availability of advanced products, such as 3D endoscopes, and the adoption of Artificial Intelligence (AI)
  • The hospitals & clinics end-user segment dominated the global industry in 2022 owing to the easy access and high volume of gynecological surgeries performed in hospitals & clinics
  • North America held the largest revenue share in 2022 due to advanced healthcare infrastructure, availability of skilled professionals, and introduction of innovative technologies
  • Asia Pacific is expected to witness significant growth during the forecast period. A surge in procedure volumes, due to the rising awareness regarding gynecological health, post-menopausal conditions, and issues concerning pregnancy, is expected to drive the region’s growth

 

Key Companies & Market Share Insights

This industry is highly fragmented with the presence of several local players. Thus, major companies practice merger and acquisition strategies to sustain competition and increase industry share. For instance, in October 2021, Hologic, Inc. entered into a definitive agreement for the acquisition of Bolder Surgical, a U.S.-based surgical devices company. The acquisition will contain laparoscopic dissecting, diving, and vessel sealing devices including Bolder’s CoolSeal, the JustRight 5 mm stapler, and JustRight 3 mm vessel sealer.

List of Key Players of Gynecological Devices Market

  • Medtronic Plc
  • Cooper Surgical, Inc.
  • Richard Wolf GmbH
  • Hologic, Inc.
  • Boston Scientific Corp.
  • Stryker Corp.
  • Karl Storz GmbH & Co. KG
  • Ethicon, Inc. (Johnson & Johnson MedTech)
  • Cook Medical
  • Bayer AG
  • Gynemed
  • Gynex Corp.

Order a free sample PDF of the Gynecological Devices Market Intelligence Study, published by Grand View Research.

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