Emphasis on Blade Type (One Blade, Two Blade, and Others); Material Type (Stainless Steel, Plastic, and Others); Usability (Disposable and Reusable); and Region/Country
Global Vaginal Speculum Market was valued at USD 800 million in 2022 & is expected to grow at a CAGR of 3.2% from 2023-2030. Vaginal speculum services mainly gained prominence due to the increased cases of gynecological cancer globally. In addition to this, investments in gynecology departments as well as government awareness programs regarding women’s health have increased significantly in recent years, which are the key factors that are creating opportunities for the market. Many other factors were identified that helped in propelling the market in the forecast period such as the strategic collaborations between medical device companies, and the surge in awareness programs regarding women’s health are also driving the growth of the market. For instance, in August 2020 the World Health Assembly adopted the Global Strategy for cervical cancer elimination to eradicate cancer from society. Also, in July 2023, a New Zealand-based public health agency established by the New Zealand Government, ‘Te Whatu Ora Health’ announced USD 7.3 million in funding to provide free cervical screening services to those who are at a higher risk of cervical cancer.
Teleflex Incorporated; B.Braun SE; The Cooper Companies, Inc.; Integra Life Sciences; STERIS; Baxter; Vernacare; AdvaCare Pharma; Advin Health Care; A.M.G. Medical Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst blade type, one-blade category to witness higher CAGR during the forecast period”
Based on blade type, the market is segmented into one blade, two blades, and others. The one-blade segment is expected to grow with a high CAGR during the forecast period as it allows wider vaginal wall exposure. This blade can be slid down without limiting exposure, thus aiding in minor surgical procedures. Growing need for efficient vaginal speculums, and strategic collaborations between companies are driving the growth of this segment. For instance, in May 2021, Cooper Companies announced the acquisition of OBP Medical Corporation, based in the U.S. which develops and markets medical devices like single-use vaginal speculums. Hence, amongst blade types, the one-blade category is expected to witness a higher CAGR during the forecast period in the vaginal speculum market.
“Amongst material types, stainless steel held a significant share in the market in 2022”
Based on material type, the market is categorized into stainless steel, plastic, and others. The stainless-steel segment is dominating the market in 2022 owing to its feature of being reprocessed and reused. Such speculums can be sterilized and used multiple times costing much less than disposable speculums. Sustainable environment goals trending globally which is also a driving factor for this segment. For instance, many vaginal specula made up of stainless steel are available in the market like, Merit (TM) Graves Vaginal Speculum Cusco Vaginal Speculum, and others. Thus, among material types, stainless steel held a significant share of the market in 2022.
“Amongst usability, the reusable segment to grow with high CAGR during the forecast period”
Based on usability, the market is bifurcated into disposable and reusable. The reusable segment is anticipated to grow with a high CAGR during the forecast period owing to the rising need for sustainable resources, and user-friendly diagnostic systems. Additionally, rising patient awareness levels for gynecological cancers in developed countries are factors expected to result in the dominance of the segment during the forecast period. For instance, in September 2023, Feminora launched an innovative vaginal speculum OneSpec, which is reusable, with a 360-degree view feature integrated with it. Thus, amongst usability, reusables are expected to witness a higher CAGR during the forecast period.
“Amongst regions, North America held a significant share of the market in 2022”
For a better understanding of the market adoption of a vaginal speculum, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is dominating the market in the current scenario of 2022 due to the rising number of investments in developing effective vaginal speculums. Government organizations are initiating gynecological cancer awareness programs to provide efficient care to patients. For example, according to the Globocan 2020 report, an estimated 2,281,658 new cancer cases were diagnosed in the U.S. in 2020.. Thus, amongst regions, North America held a significant share of the market in 2022.
Vaginal Speculum Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Key Insights
4. Executive Summary
5. Impact Of Covid-19 On The Vaginal Speculum Market
6. Vaginal Speculum Market Revenue (usd Bn), 2020-2030f
7. Market Insights By Blade Type
8. Market Insights By Material Type
9. Market Insights By Usability
10. Market Insights By Region
11. Vaginal Speculum Market Dynamics
12. Vaginal Speculum Market Opportunities
13. Vaginal Speculum Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Vaginal Speculum Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global vaginal speculum market were the three major steps undertaken to create and analyze the adoption of vaginal speculum in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global vaginal speculum market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the vaginal speculum market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the vaginal speculum market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as blade type, material type, usability, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the vaginal speculum market. Further, we conducted factor analysis using dependent and independent variables such as blade type, material type, usability, and regions of the vaginal speculum. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the vaginal speculum market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global vaginal speculum market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 00for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global vaginal speculum market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of blade type, material type, usability, and regions in the global vaginal speculum market.
The main objective of the Global Vaginal Speculum Market Study
The current & future market trends of the global vaginal speculum market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the vaginal speculum market?
Q2: What are the driving factors for the growth of the vaginal speculum market?
Q3: Which segment has the largest share of the vaginal speculum market by blade type?
Q4: What are the emerging technologies and trends in the vaginal speculum market?
Q5: Which region will dominate the vaginal speculum market?
Q6: Who are the key players operating in the vaginal speculum market?
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