Report : Europe 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 10.4% CAGR, the Europe Gynecology Devices Market is speculated to be worth US$ 7,041.24 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe gynecology devices market was valued at US$ 3,884.71 million in 2022 and is expected to reach US$ 7,041.24 million by 2028, registering an annual growth rate of 10.4% from 2022 to 2028. Rise in the incidences of gynecological diseases and increasing number of advanced medical devices for women are the critical factors attributed to the market expansion.
Gynecological diseases comprise various diseases, including uterine cancer, cervical cancer, polycystic ovary syndrome, and ovarian cancer. Cervical cancer is one of the severe threats to women’s lives globally. According to the WHO 2018 data, cervical cancer leads to the death of one woman every two minutes, and nine in ten women die in developing countries. According to cancer observatory data, cervical cancer is the 7th most common cancer, with more than ~604,000 new cases diagnosed in 2020. Cervical cancer led to the death of ~341,831 people worldwide in 2020. Moreover, ovarian cancer is the 8th most common cancer in women and the 18th most common cancer overall. Cervical cancer is a type of cancer that can be prevented and treated. The early detection of cervical cancer can be prevented with human papillomavirus (HPV) vaccination and managed effectively. Ovarian cancer has forced women to give importance to clinical conditions of the related gynecological diseases. Therefore, the rise in the number of gynecological disorders and the easy prevention and treatment are encouraging women to get diagnosed and treated. Further, the availability of gynecological devices used for the treatment of gynecological conditions and disorders is driving the growth of the gynecology devices market.
On the contrary, limited access to contraception hurdles the growth of Europe gynecology devices market.
Based on product, the Europe gynecology devices market is segmented into surgical devices, hand instruments, and diagnostic imaging system. The surgical devices segment held 53.8% market share in 2022, amassing US$ 2,090.62 million. It is projected to garner US$ 3,870.06 million by 2028 to expand at 10.8% CAGR during 2022–2028.
Based on end user, the Europe gynecology devices market is segmented into hospitals, diagnostic centers, clinics, and others. The hospitals segment held 49.2% market share in 2022, amassing US$ 1,910.06 million. It is projected to garner US$ 3,511.61 million by 2028 to expand at 10.7% CAGR during 2022–2028.
Based on country, the Europe gynecology devices market has been categorised into the UK, Germany, France, Italy, Spain, and rest of Europe. Our regional analysis states that Germany captured 23.8% market share in 2022. It was assessed at US$ 923.17 million in 2022 and is likely to hit US$ 1,724.34 million by 2028, exhibiting a CAGR of 11.0% during the forecast period.
Key players dominating the Europe 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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