Report : Asia Pacific Gynecology Devices Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product (Surgical Devices, Hand Instruments, and Diagnostic Imaging System) and End User (Hospitals, Diagnostic Centers, Clinics, and Others)
At 11.9% CAGR, the Asia Pacific Gynecology Devices Market is speculated to be worth US$ 6,205.72 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific gynecology devices market was valued at US$ 3,158.43 million in 2022 and is expected to reach US$ 6,205.72 million by 2028, registering an annual growth rate of 11.9% from 2022 to 2028. Use of biomedical photonics and utilization of artificial intelligence in gynecology are the critical factors attributed to the market expansion.
The developments in the medical devices industry have motivated the existing players and upcoming players to introduce their novel products in the market. For instance, the use of biomedical photonics for gynecological surgeries has various scopes for the gynecology market players to develop and introduce products for biomedical photonics. Biomedical photonics is specially designed for uterine transplantation that is used for a permanent uterine factor of fertility. The study for this technique was conducted using minimally invasive optical spectroscopy (MSI), which was done on rabbits and sheep. Further, the study proved MSI to be promising for human use in the future. Therefore, the research and development in this field will offer various opportunities for the gynecology devices market players in the coming future.
On the contrary, limited access to contraception hurdles the growth of Asia Pacific gynecology devices market.
Based on product, the Asia Pacific gynecology devices market is segmented into surgical devices, hand instruments, and diagnostic imaging system. The surgical devices segment held 53.4% market share in 2022, amassing US$ 1,685.38 million. It is projected to garner US$ 3,382.21 million by 2028 to expand at 12.3% CAGR during 2022–2028.
Based on end user, the Asia Pacific gynecology devices market is segmented into hospitals, diagnostic centers, clinics, and others. The hospitals segment held 49.9% market share in 2022, amassing US$ 1,575.10 million. It is projected to garner US$ 3,138.67 million by 2028 to expand at 12.2% CAGR during 2022–2028.
Based on country, the Asia Pacific gynecology devices market has been categorised into China, India, Japan, South Korea, Australia, and rest of Asia Pacific. Our regional analysis states that China captured 29.8% market share in 2022. It was assessed at US$ 942.63 million in 2022 and is likely to hit US$ 1,945.10 million by 2028, exhibiting a CAGR of 12.8% during the forecast period.
Key players dominating the Asia Pacific gynecology devices market are Boston Scientific Corporation; CooperSurgical, Inc; Ethicon; General Electric Company; Hologic, Inc.; KARL STORZ SE & Co. KG; Medtronic; Olympus Corporation; Richard Wolf GmbH.; and Stryker among others.
- In Sep 2020, GE Healthcare Unveils Voluson SWIFT, AI-Enhanced Women’s Health Ultrasound with Industry-First Auto Recognition Tools to Help Improve Efficiency. Voluson SWIFT redefines the ultrasound experience for women’s health practitioners by integrating intelligent features that can reduce patient scanning time by as much as 45 percent and automate exam measurements resulting in significant time savings for users.
- In Dec 2021, Cooper Companies completed the previously announced definitive purchase agreement to acquire Generate Life Sciences, a leading provider of donor egg and sperm for fertility treatments, fertility cryopreservation services and newborn stem cell storage (cord blood & cord tissue), for a purchase price of approximately $1.6 billion.
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