Global Gynecological Devices Market is Expected to Reach USD 5.3 Billion by 2018: Transparency Market Research
ALBANY, New York, March 6, 2013 /PRNewswire/ -- As per the new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Gynecological Devices Market (Surgical Devices, Endometrial Ablation Devices, Female Sterilization and Contraception Devices, Vaginal Speculum, Tenaculum, Biopsy Forceps, Diagnostic Imaging Systems and Gynecological Chairs) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the 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 CAGR of 6.4% from 2012 to 2018. In the gynecological devices market, the surgical devices segment is the largest revenue generator.
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The major drivers of this market 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, rise in the global healthcare expenditure and the aging baby boomer population. On the other hand, lack of capital availability to small manufacturers and delays in the approval procedures in North America are expected to hold back the growth of this market.
Rise in the prevalence of menorrhagia has resulted in growth in demand for endometrial ablation procedures. The new second generation endometrial ablation devices are safe, minimally invasive and less time consuming in nature.