Market Trends of Global Colposcopy Devices Industry
This section covers the major market trends shaping the Colposcopy Devices Market according to our research experts:
Handheld Colposcope Dominates the Market and is Expected to Continue to Do the Same during the Forecast Period
The handheld colposcope is expected to dominate the global colposcopy devices market throughout the forecast period. This can be attributed to the rising adoption of handheld colposcopes due to a simple interface, improved workflow, enhanced clinical services, superior monitoring capabilities, and advanced modes. Moreover, improved image contrast levels and the merits of each strategy compared to a standard-of-care digital colposcope are expected to boost the market share of this vertical.
The device is believed to transform the colposcopy procedure through its advanced features that include small size, portability, ease of use, versatility, and extended battery life. By costing as little as other stationary colposcopes and offering both anti-fogging and waterproofing features capabilities, the device is ideally suited, no matter what their location or severity. These factors are expected to impel segment development.
The latest advances in handheld colposcopes are augmenting segment growth. For instance, companies are focusing more on developing pocket-sized colposcopy devices that can be used with a lot of ease across health facilities. For instance, as per the article published in the International Journal of Gynecology and Obstetrics in December 2020 titled, 'A systematic review of handheld tools instead of colposcopy for cervical neoplasia and female genital schistosomiasis,' handheld colposcopes are found to be an adequate device for diagnosis of cervical cancer. However, it is stated that more clinical tests are advised to give final confirmation.
Hence, with the above-mentioned factors, the segment studied is expected to witness strong growth over the forecast period.
North America Represents the Largest Market Share
The North American region is believed to hold a significant share in the colposcopy devices market owing to the factors such as the increasing burden of cervical cancer across the United States and Canada and the presence of key companies providing colposcopy devices across the region.
Cervical cancer is found to be one of the most common causes of death among women in the United States. The United States has a very high prevalence rate of cervical cancer, which is a key driving force for the growth of the market. According to the American Cancer Society, in 2020, an estimated number of 13,800 new cases of invasive cervical cancer may be diagnosed and about 4,290 women may die from cervical cancer. The death rate due to cervical cancer is observed to have dropped over the last 40 years, by up to more than 50%, with the increased use of Pap tests. The United States government also introduced many initiatives to prevent cervical cancer. It increased the reach of insurance coverage for cervical screening tests, especially for low-income women. It is also trying to include HPV vaccines in the insurance plans and as a part of the Federal Vaccine for Children (VFC) entitlement program. Hence, these initiatives are helpful in the growth of the market.
In addition, the Pan American Health Organization (PAHO) also launched a communication campaign to prevent cervical cancer, in 2018. This is an online and social media campaign that helps PAHO reach its goal of ending cervical cancer.
Hence, the growing prevalence of cervical cancer in the region and increasing awareness regarding early diagnosis can be attributed to the large share of the US region.
