The leading players plying their trade in the global hysteroscopes market are relying heavily upon joint ventures and collaborations to stay ahead of the growing competition. In response to the growing demand for non-invasive and minimally invasive surgeries, the leading players in the market have come up with innovative products. One such product is the HD optical lens that offers enhanced and increased resolution. These HD optical lenses are manufactured from special type of sapphire glass that allow such enhanced visualization. The leading players are also introducing hysteroscopes that have semi-flexible shaft at highly affordable costs.
Some of the prominent names in the global hysteroscopes market include names such as MEDTRONIC, Stryker, B. Braun Melsungen, AG Olympus Corporation, and MedGyn Products, Inc. There are also several players that have significant presence in the local or regional markets. Some of important names are WISAP Medical Technology GmbH, Richard Wolf Group, KARL STORZ GmbH & Co. KG, LocaMed Limited, COMEG Medical Technologies (SOPRO-COMEG GmbH)Maxer Medizintechnik GmbH, and Optomic.
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North America to Continue Dominating the Global Market
The global hysteroscopes market has five key geographical regions that helps in better understanding of its overall working dynamics. These regions are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these, the global market is primarily dominated by the North America region. The growth of the market is attributed to the fully matured healthcare infrastructure.
In addition to this, the US government is trying to make these advanced healthcare facilities available at affordable prices. This is expected to help the North America hysteroscopes market to grow. Furthermore, increasing thrust on creating awareness about health and well being of women is also expected to help the market in the region to develop more. According to the research report by Transparency Market Research, the North America market for hysteroscopes will develop at a CAGR of 6.1% over the course of the given forecast period of 2017 to 2025.
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Hysteroscopy is minimally invasive gynecological procedure which helps in the diagnosis of intrauterine disorders and infections. The procedure is also utilized for surgical interventions. Hysteroscopes have become hugely popular because of their precision, low cost, and convenience. The primary objective of hysteroscopes is to treat painful fibroids, dysfunctional bleedings, and other gynecological issues. Hysteroscopy can be performed quickly with the help of local anesthetic. The growing thrust on developing more effective and efficient product with wide range of features and functionalities is also expected to drive the growth of the global hysteroscopes market.
Increasing Preference by Both Medical Professionals and Patients
Hysteroscopy is being increasingly preferred by both medical professionals and patients over conventional surgeries. This is because of its ease of use, greater stability, and superior image brightness. The surgery barely needs any incisions and hence the post-operative recovery period is also considerably low. Such host of benefits have also increased the demand for hysteroscopes and are thus driving the growth of the market.
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With such large number of growth factors, it is obvious that the global hysteroscopes market is on course to achieve stellar growth. The market is expected to exhibit a CAGR of 6% over the course of the given forecast period. With such healthy rate of growth, the hysteroscopes market is projected to reach an overall valuation of US$3.55 bn by the fall of 2025.
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