The report “Gynecology Surgical Instruments Market by Product (Scissors, Forceps, Trocar, SIMS, CUSCO), Application (Laparoscopy, Colposcopy, Hysteroscopy, D&C, Ablation, Biopsy), & End User (Hospital, Clinic, Ambulatory Surgery Center) – Global Forecast”, analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia, and Rest of the World (RoW).
The Gynecology Surgical Instrument Market is expected to reach $2.44 Billion, at a CAGR of 7.1% during the forecast period.
Major factors driving the growth of the market include a high incidence of gynecological diseases, increasing awareness of gynecological diseases, and rising government investments for providing advanced healthcare facilities & services. In addition, emerging Asian markets have opened an array of opportunities for players in this market. However, the increasing preference for robotic surgeries may restrain the growth of this market.
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Leading Key Players in Industry:
Prominent players in the gynecology surgical instruments market include B. Braun Melsungen AG (Germany), CooperSurgical Inc. (U.S.), Ethicon Inc. (U.S.), KARL STORZ GmbH & Co. KG (Germany), KLS Martin Group (U.S.), Olympus Corporation (Japan), MedGyn Products (U.S.), Richard Wolf GmbH (Germany), Sklar Surgical Instruments (U.S.), and Tetra Surgical (Pakistan).
Karl Storz GmbH & Co. KG is among the leading players in the market. The leading position of this company is mainly attributed to its strong product portfolio and brand recognition in the market. The company focuses on strengthening its sales activities and distribution networks by working with an efficient network of dealers by adopting strategies such as product launches and expansions. Through its subsidiaries, the company can provide local-level services to its customers. It has more than 50 subsidiaries located in 41 countries, globally. The company’s position in this market can be attributed to its comprehensive product portfolio in the field of gynecology, strong global presence, strong R&D investments, its diverse network of scientists, leading clinical experts, and key opinion leaders.
B. Braun Melsungen AG (Germany) is also one of the leading players in the market. The company is known for its robust product portfolio and strong geographic presence. The company offers exclusive product portfolio comprising instruments used for gynecology laparoscopic surgery, namely, trocars, ligature clips, vaginal speculum, uterine dilators, scissors, uterine probes, and various types of forceps. The company focuses on product launches to enhance its product portfolio. For instance, in August 2014, the company launched the upgraded form of Caiman 5 Seal and Cut Technology instrument for open surgery procedures. The instrument can be used in gynecology, general, and urologic surgery procedures. The Aesculap division witnessed 11% growth in its net sales due to strong performance in surgical solutions in 2015. Major growth regions of the company are China, the U.S., Russia, Germany, and Poland.
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Geographical Growth Scenario of Market:
North America dominated the global gynecology surgical instrument market in 2016, with the U.S. accounting for a major share of this regional market. Factors such as high incidence of gynecological diseases (such as ovarian, uterine, cervical, and vaginal cancer), increasing awareness programs, rising funding for research projects in gynecology, prominent players focusing on strengthening their presence through acquisitions and expansions are likely to drive the growth of the North American market.
The Asian gynecology surgical instrument market is slated to grow at the highest CAGR owing to the increasing government and private sector investments in healthcare, growing purchasing power, high incidence of gynecological diseases, government initiatives focusing on women’s health, and improvements in the healthcare sector of Asian countries. Some prominent markets in Asia include China, India, and Japan.