Gynecology Hand Instruments Market to Garner Brimming Revenues by 2025
Gynecology hand instruments consist of vaginal speculum (disposable and reusable) and others including tenaculum, curettes, trocars, and biopsy forceps. Vaginal speculum is a device used to open the vaginal walls. It is generally made of metal or plastic and aids in the visual inspection of vagina and cervix. Reusable speculum was used on a large scale in the past. Currently, disposable speculum is widely used by physicians for various purposes.
Major advantages of disposable over reusable speculum are high efficiency, low cost, patient care, and low risk of infection. A tenaculum is usually classified as forceps as it consists of a slim sharp-pointed hook attached to a handle. Curette is an instrument used to scrap biological tissues at the time of biopsy. Trocar is inserted into cannula that is passed into the abdominal cavity while performing laparoscopy. Trocars enable access to the intra-peritoneal cavity. Biopsy forceps are used for sharp cutting performance to regain clean specimens.
Increased rate of gynecological disorders, high preference for minimally invasive procedures for treating these disorders, rise in awareness about wellbeing, and change in the lifestyle of the female population globally are the factors fueling the growth of the gynecology hand instruments market in terms of revenue. However, required amount of documentation and high cost for the U.S. FDA approval could delay the process of device approval. Moreover, the U.S. FDA is considering a ban on morcellation in minimally invasive hysterectomies due to high incidence of undiagnosed sarcoma reported in women undergoing these procedures. This hinders the growth of the market.
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The global gynecology hand instruments market can be segmented based on product type and region. In terms of product type, the market can be divided into vaginal speculum and others. Vaginal speculum can be classified into disposable and reusable. The others segment can be sub-segmented into biopsy forceps, tenaculum, trocars, and curettes.
Geographically, the global gynecology hand instruments market can be segmented into Asia Pacific, Latin America, Europe, North America, and Middle East & Africa. North America accounted for the largest market share in 2016. Dominance of this region is attributed to increased preference for minimally invasive procedures, availability of technologically advanced devices, and growing awareness about wellbeing. North America is expected to continue its dominance in the market during the forecast period. Technologically advanced devices and high reimbursement are likely to support market growth in the region.
Asia Pacific held the second largest market share in 2016. The gynecology hand instruments market in Asia Pacific is expected to expand at the highest CAGR in 2025. This is attributed to increase in demand for gynecological hand instruments due to introduction of technologically advanced minimally invasive hand instruments that assist in performing certain gynecological procedures in office settings at low cost.
Existence of a large patient pool, increase in government funding and developmental initiatives in health care facilities, changes in lifestyle of the population, and improvement in medical insurance policies are the major drivers of the market in Asia Pacific. Europe is anticipated to grow during the forecast period driven by rise in awareness about the efficacy of innovative gynecological hand instrument devices among gynecologists.
The gynecology hand instruments market in Latin America is anticipated to grow during the forecast period owing to rising trend of minimally invasive surgeries especially for gynecological procedures. Developing economic conditions and increasing awareness about new technology, diagnosis, and treatment alternatives have supported the growth of the gynecology hand instruments market in Latin America.
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The market in Middle East & Africa is anticipated to grow during the forecast period from 2017 to 2025 due to rise in prevalence of gynecological disorders, increase in awareness about available gynecological treatments, and initiatives taken by the government and international organizations in these countries. Moreover, increase in funding provided by governments and international health associations, rise in educated population, and privatization of health care infrastructure are anticipated to contribute to market growth.
Key players operating in the global gynecology hand instruments market include Medtronic, CooperSurgical, Inc., Ethicon US, LLC, Hologic, Inc., KARL STORZ Se & Co. KG, and Olympus Corporation.