Hysteroscope Market Overview
The global hysteroscope market size is projected to reach $295.5 million by 2022, growing at a CAGR of 4.5% during the forecast period. The market is driven by increasing prevalent cases with abnormal uterine bleeding, increase in female geriatric population and increase in incident cases of uterine cancer. In addition, increasing infertility cases due to changes in lifestyle and growing demand of minimally invasive treatments worldwide are also bolstering the growth of the market.
Broadly, the hysteroscope market is segmented into rigid non-video hysteroscopes, flexible non-video (fibre) hysteroscopes, and flexible video (fibre) hysteroscopes. The rigid non-video hysteroscope segment dominated the global market, and it is expected to retain its dominance by 2022, with 71.4% share.
The various application areas of hysteroscope include hysteroscopic myomectomy, hysteroscopic polypectomy, hysteroscopic endometrial ablation and others. The hysteroscopic myomectomy segment accounted for a major market share during the historical period and by 2022, it is projected to hold a market share of over 35% during the forecast period. The others segment is expected to witness the fastest growth in the hysteroscope market during the forecast period.
Geographically, North America dominated the global hysteroscope industry, due to increasing prevalence of uterine problems, such as irregular and heavy bleeding, unexplained miscarriages, and structural abnormalities of uterus, sub mucosal myomas and polyps. The growth of female aging population in the region also contributes to the growth of the North American hysteroscope market, as aging leads to hormonal changes in females making them more prone to uterine malformations, which can be detected through hysteroscopy procedure.
Hysteroscope Market Dynamics
These days minimally invasive procedures are high in demand, in comparison to traditional procedures for treating the patients. The advantageous features of minimal invasive surgeries attract the patients around the world to opt for such procedures, instead of going for a traditional surgery. Open surgeries or traditional surgeries involve the formation of large incisions, which require long healing duration and leads to long stay at the hospital. On the other hand, hysteroscopy doesn’t lead to any incision; rather the hysteroscope enters through the cervix directly into the uterine cavity for diagnosis and treating purposes.
Hysteroscopy leads to less blood loss; quick recovery time and less hospital stay. It also leads to less post operation discomfort, and patients who undergo hysteroscopy can resume their daily activities early, in comparison to those who had undergone traditional surgeries; thus, generating a high demand for hysteroscopy leading to the growth of the global hysteroscope market.
The availability of alternative diagnosis and treatment options, including drug therapies and other diagnostic procedures, such as blood test and ultrasound are inhibiting the growth of the global hysteroscope market, as these are well known and widely adopted therapies for the treatment of gynecological problems. Drug therapies are the first choice of physicians in the treatment of uterine malformations. Hysteroscopy is usually recommended by gynecologist, if a particular condition cannot be diagnosed treated properly by using medication or traditional therapy.
The side effects associated with hysteroscopy is also hampering the growth of the global hysteroscope market. Hysteroscopy leads to few side effects, such as cramping, vaginal bleeding, diarrhea, nausea and fever, which make them less favorable option in few cases. All this is responsible for hampering the growth of the global hysteroscope industry.
Hysteroscope Market Competitive Landscape
The key companies operating in the global hysteroscope market include KARL STORZ GmbH & Co. KG, Olympus Corporation, Richard Wolf GmbH, Stryker, Hologic Inc., B. Braun Melsungen AG, Xion Medical GmbH and MedGyn Products Inc.