Global Cervical Cancer Endoscopic Devices Market 2019-2023 | 6% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--May 22, 2019--
The global cervical cancer endoscopic devices market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global cervical cancer endoscopic devices market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global cervical cancer endoscopic devices market is the increasing prevalence of cervical cancer. Cervical cancer, caused by HPV, is the third most common cancer affecting women globally. The increasing prevalence of cervical cancer has led to growing adoption of smart colposcopes for primary level cervical cancer screening and to confirm the efficacy of Pap test results for secondary screening procedures. Moreover, manufacturers are developing advanced diagnostic products, which can improve the efficacy of cervical cancer diagnosis. Thus, the increasing prevalence of cervical cancer and the launch of new products by manufacturers will significantly increase the demand for cervical cancer endoscopic devices during the forecast period.
As per Technavio, the growing demand for smart and pocket cervical cancer endoscopic devices will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global cervical cancer endoscopic devices market 2019-2023 research report also analyzes other important trends and market drivers that will affect the market growth over 2019-2023.
Global cervical cancer endoscopic devices market: Growing demand for smart and pocket cervical cancer endoscopic devices
Cervical cancer endoscopy devices such as conventional colposcopes are bulky and expensive. The high cost of conventional colposcopes has led companies to focus on developing portable smart and pocket colposcopes. Such cervical cancer endoscopic devices are available at a lower cost and can be used to provide a point-of-care diagnosis. Companies are also focusing on introducing advanced smart colposcopes with real-time imaging benefits. As a result, the demand for smart and pocket cervical cancer endoscopic devices is increasing, which will significantly drive the growth of the market during the forecast period.
“The growing adoption of colposcopes has encouraged many investors to provide funds to the manufacturers, which can help them in developing advanced cervical cancer endoscopic devices and receiving regulatory approval in different regions. This also helps companies to increase their geographical presence and product sales. Thus, the availability of funds for advanced product development will fuel market growth during the forecast period,” says a senior research analyst at Technavio.
Global cervical cancer endoscopic devices market: Segmentation analysis
This market research report segments the global cervical cancer endoscopic devices market by product (optical colposcopes, and digital colposcopes) and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, ROW, and Asia respectively. The market growth in North America can be attributed to the increasing prevalence of cervical cancer, presence of government and private insurance companies, and improving healthcare infrastructure in the US, Canada, and Mexico. The expected market penetration of new companies that are awaiting regulatory approval will also lead to market growth.
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Five Forces Analysis
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- Vendors covered
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