The global colposcopy market size is projected to reach USD 293.6 million by 2025, according to a new report by Grand View Research, Inc., rising at a CAGR of 7.0% during the forecast period. Increasing investments in the medical imaging industry and rising cervical cancer screening in developing countries are poised to trigger the growth of the market. Developing countries offer new investment avenues to global market giants. Developing healthcare infrastructure and expanding patient pool are rendering emerging countries promising destinations for global players in the market.
As per the findings of the World Health Organization, the number of new cervical cancer cases are estimated to reach 570,000 by end of 2018, accounting for 6.6% of total cancers related only to females. The number of deaths registered due to this type of cancer is higher in developing countries. It can be reduced by implementing a program which provides early diagnosis and effective treatment.
Governments in emerging economies are focusing on augmenting reach of cancer screening programs, which in turn is anticipated to boost the adoption of colposcopes. In addition, major market players are adopting advanced technologies by integrating various digital platforms with colposcopy equipment. Advent of high resolution imaging devices is expected to follow up integration, which is likely to replace conventional colposcopes, hence influencing the growth of the market.
Mergers and acquisitions and service portfolio expansion are some of the key strategies adopted by major players. For instance, in September 2016, DYSIS introduced an advanced imaging technique that has the ability to detect neoplasia and precancerous cells, which will help in diagnosing cancer. Prominent market players are also focusing on increasing their geographical reach.
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Further key findings from the report suggest:
- The video modality segment is projected to register the fastest growth during the forecast period
- The pelvic segment is poised to exhibit a CAGR of over 7.1% during forecast period
- The handheld segment is estimated to expand at a lucrative CAGR during the forecast period
- Asia Pacific is anticipated to exhibit a CAGR of about 8.0% during the forecast period owing to improvised healthcare infrastructure, rising disposable income, and investments from global market players
- Some of the key players in this market are Karl Kaps GmbH & Co. KG; Carl Zeiss; Cooper Surgical, Inc.; DYSIS Medical Ltd.; ATMOS Medizin Technik GmbH & Co. KG; OLYMPUS CORPORATION; McKesson Medical-Surgical Inc.; Ecleris S.R.L.; Optomic and Seiler Instrument Inc.
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