Demand for gynecological devices due to rising prevalence of sexually transmitted diseases and growing preference for technologically advanced treatments to drive the market; estimated to reach $15.46 billion by 2022.
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Rising prevalence of sexually transmitted diseases, escalating adoption of gynecological procedures and growing preference for technologically enhanced gynecological treatments is driving the gynecological devices market. The safe and comfortable nature of the gynecological devices is set to attract women who need diagnosis and treatment for disorders, thus driving the gynecological devices market.
The market for gynecological devices is segmented based on the type of endoscopes, devices, end users and geography.
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Gynecological devices market is estimated to be $10.86 billion in 2015 and projected to grow at a CAGR of 4.98% during the forecast period.
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Gynecological endometrial ablation devices segment is estimated to continue its dominance in the Gynecological devices market during the forecast period. Rising dysfunctional uterine bleeding and hyper menorrhea for women are a few of the other drivers impacting gynecological devices market growth.
North America is the major shareholder of the Gynecological devices market in 2015, mainly driven by growing demand for medical and women health applications. The older women of APAC are considered to be conservative and not comfortable to share their gynecological problems.
But due to modernization in life styles many countries are getting rid of this unwanted shyness that leads to surge in the market.
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The Key Players in this Market Include
Johnson and Johnson (U.S.)
Boston Scientific Corporation (U.S.)
Cooper Surgical Inc. (U.S.)
Bayer AG (Germany)
Medtronic Inc. (Ireland)
Top five companies held approximately 30% of the market share in 2015. Most of the companies in the gynecological devices market are focused on acquisitions as a key strategy.
Collaborations, product launch are some other growth strategies of the key players in the industry that are striving to increase their market share.
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