Colposcopy Market worth over $250mn by 2027
Published Date: August 31, 2021 Authors: Sumant Ugalmugle, Rupali Swain
Colposcopy Market size is set to surpass USD 250 million by 2027, according to a new research report by Global Market Insights Inc.
Market growth is attributed to the advancement in treatment and procedures, novel product launches as well as growing demand for disease diagnosis. For instance, Zedscan, a diagnostic system that is used alongside colposcopy to provide an objective assessment of the cervical epithelial tissue in real time. Also, it is a new adjunct which uses electrical impedance to help the colposcopist. The possible benefits include reduced need for biopsy as well as more efficient management of women with high grade disease.
Technological advancements in colposcopy will foster the market expansion
Technological advancements such as integration of digital platforms with colposcopy equipment is expected to accelerate the overall industry growth. Such integration of high-resolution imaging devices is likely to replace the traditional colposcopes, thereby influencing market dynamics. In addition, usage of advance devices such as Smartscopy and EVA COLPO devices for magnified cervical visualization, documentation will further contribute to the market progression. Furthermore, growing awareness regarding gynecological diseases, prevention and diagnosis both, has stimulated the demand for early disease detection, thus positively impacting the market value.
Lack of reimbursement policies in developing economies may restrain the colposcopy market revenue
Lack of reimbursement policies in developing countries may hamper the industry expansion. For instance, colposcopy device is a highly technology oriented medical device based on the use of high digital cameras and integration of software or platforms for enabling accuracy and faster results. This has escalated price associated with diagnosis in developing economies. Therefore, owing to such factor, in developing economies the colposcopy diagnostic services are not covered by any insurance companies.
Optical colposcope is predicted to showcase lucrative market demand
The optical colposcopy segment accounted for 41.9% of the market share in 2020. Rising incidence of cervical cancer cases across the globe will boost the adoption of optical colposcope devices. Additionally, easy installation, and low maintenance are the key factors ensuring the high segment growth. However, digital colposcopes are gaining faster momentum due to its various advantages and clinical services as compared to optical colposcope devices.
Various advanced features of handheld colposcopes will drive their acceptance rate
The handheld segment in the colposcopy market will reach USD 83.5 million by 2027. Handheld systems are advanced and being increasingly preferred to stationary owing to their mobility. Rising usage of handheld colposcope credited to its enhanced clinical services, superior monitoring capabilities & advanced modes, simple interface and improved workflow will fuel the industry progression. Moreover, few other advantages associated with the handheld colposcope device include both waterproofing features & anti-fogging capabilities, versatility and extended battery life.
Browse key industry insights spread across 120 pages with 211 market data tables & 15 figures & charts from the report, “Colposcopy Market Size By Product Type (Optical, Digital), By Mobility (Fixed, Portable, Handheld), By Area of Diagnosis (Pelvic, Oral), By End-use (Hospitals, Clinics, Diagnostic Centers), COVID-19 Impact Analysis, Regional Outlook, Product Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Oral application of colposcopy may improve the patient care attributed to its non-invasive technique and ease of use
The colposcopy market for oral segment will witness 2.9% growth rate through 2027. Oral application of colposcopes is used as an adjunct in the early diagnosis of premalignant and malignant lesions of the oral mucosa including oral squamous cell carcinoma (OSCC) and other conditions related to the uvula. The colposcopy (direct oral microscopy) of oral mucosal lesions helps in selecting more representative sites for biopsy than routine clinical examination alone. Thus, due to its precision, versatility, ease of use, and being a non-invasive technique, oral application of colposcopy might improve the care for patients, thereby supplementing the industry progression over the forecast period.
Rising demand for cost-effective cancer treatments will favor the segment expansion
The diagnostic centers segment was valued at around USD 51.6 million in 2020. Increasing cervical cases across the globe will increase the demand for diagnostic centers and spur the industry value in the coming years. Also, high segment progression is owing to the increasing number of diagnostic screening across the globe.
Rising geriatric population coupled with increasing incidence of cervical cancer in the European region has enhanced the market growth
European colposcopy market is poised to expand at more than 3.3% CAGR till 2027 led by the increasing public initiatives to promote the awareness surrounding early cancer diagnosis. In 2020, more than 58,000 people were diagnosed with cervical cancer and around 20,000 people died suffering from cervical cancer. Among the European countries, Russia, Germany and UK have reported the highest incidence rate for cancer. Furthermore, European countries have one of the largest shares of the geriatric population which will further influence the industry demand during the forecast period.
Companies are focusing on launching various colposcope product to boost the market expansion
Prominent players functioning in the colposcopy market are Olympus Corporation, DYSIS Medical, CooperSurgical Inc, ATMOS, Karl Kaps, Carl Zeiss, Seiler Instruments and MedGyn. The market leaders undertake various strategic initiatives to gain a competitive edge in the industry.