The main USP of hysteroscopes – gynecological procedures – are their minimally invasive nature. As a result they require smaller incisions, inflict less pain and scars, bring down post-operation complications, bring about swifter recoveries, and hence reduce the duration of hospital stays. They also serve to lessen the cost of treatment. Rising knowledge of such benefits are at the forefront of driving the market for hysteroscopy worldwide.
Apart from that, rising thrust on product innovation by astute players in the market is also having a positive bearing on the global demand for hysteroscopes. Manufacturers are coming up with HD optical lenses with better resolution and built from special sapphire glass for imprived visualization. They are also coming up with hysteroscopes with semi-flexible shaft to entice more customers. Competitive pricing and carefully-considered collaborations are other popular strategies employed by them to grow their market shares.
A report by Transparency Market Research predicts the global hysteroscopes market to rise at a CAGR of 6.0% during the period between 2017 and 2025 to become worth US$3.55 bn by 2025-end.
Product-wise, the global hysteroscopes market can be classified into flexible hysteroscopes and rigid hysteroscopes. Application-wise again, the market has been divided into diagnostic hysteroscopy and surgical hysteroscopy. Diagnostic hysteroscopy can be again segmented into abnormal bleeding, intrauterine foreign body, infertility and pregnancy wastage, abnormal hysterosalpingogram, etc. The surgical hysteroscopy segment, similarly, is further divided into endometrial ablation, polypectomy, myomectomy, etc.
Hospitals, ambulatory surgical centers, and gynecology clinics, among others are some of the key end use segments in the global hysteroscopes market. Of them, the segment of hospitals pulled in maximum revenue in 2016 and will continue doing so in the near future as well. The soaring popularity of hospitals has been on account of their ability to provide treatments at affordable costs. Further, the rising instances of hospitalization for fixing gynecological issues and availability of various equipment and able physicians in them is also boosting demand.
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North America currently accounts for a leading share in the global hysteroscope market because of a superior healthcare infrastructure and strong emphasis of generating awareness about women’s health. Government aid in the healthcare sector too is benefitting the market. Numbers bear it out. In 2016, over 24000 operative hysteroscopy were performed in the U.S., as per the findings of the U.S. National Survey of Ambulatory Surgery. Currently, the overall North America market is worth US$873.1 mn and by 2015, it is expected to attain a value of US$1.40 bn by clocking a CAGR of 6.1%.
Europe trails North America in terms of market share. The market for hysteroscope in the region is being bolstered by the presence of well-entrenched players who are launching various technologically superior products every now and then for better results. Asia Pacific is another key region too watch out for. It is being powered primarily by Japan and China – nations with advanced health care infrastructure, greater spends on per capita healthcare, and numerous insurance companies and insurance buyers. The market in the region is forecasted to become worth US$766.0 mn by the end of 2025 as per the report by TMR.
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Some of the prominent global participants in the global hysteroscopes market are MEDTRONIC, Olympus Corporation, Stryker, B. Braun Melsungen AG, and MedGyn Products, Inc. There are also many companies that have considerable presence in regional markets. Some of them are Richard Wolf Group, WISAP Medical Technology GmbH, LocaMed Limited, KARL STORZ GmbH & Co. KG, Maxer Medizintechnik GmbH, COMEG Medical Technologies (SOPRO-COMEG GmbH), and Optomic.