The global Colposcopy Market size is expected to reach USD 761.2 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.8% from 2022 to 2030. Increase in the prevalence of cervical cancer, technological advancements, and the rising demand for early- diagnosis of gynecological disorders are expected to boost the market growth. According to the ICO Information Centre on HPV and Cancer, cervical cancer is the fourth most frequent cancer among women globally, with an estimated 604,127 new cases and 341,831 deaths in 2020.
An article published by the Human Papillomavirus Information Center stated that cervical cancer is reported to be the second most common cancer among women aged 15 to 44. Colposcopy helps in accurate identification of cervical pre-cancer and early invasive cancer. Moreover, colposcope directed biopsies of severe lesion visualized help in further management of the disease. Growing awareness and rise in the number of screening campaigns for cervical cancer conducted by governments of various regions are expected to fuel the market growth during the forecast period.
In the U.S., National Breast and Cervical Cancer Early Detection Program (NBCCEDP) offers breast and cervical cancer screening and diagnostic services to low-income, uninsured, and underinsured women across the country. Several obstacles arose as a result of the COVID-19 pandemic, including logistical constraints, low demand, and reduced sales and marketing activities. However, by mid-2022, the market is predicted to be steadily improving. By encouraging end-users to embrace high-end technologies for early diagnosis of the disease, aiming to lessen cervical cancer cases by 70%, and thus preventing over 4.5 million deaths (Source: WHO). This is expected to significantly boost the market in the coming years.
Related Press Release @ Colposcopy Market Report
Colposcopy Market Report Highlights
- The optical colposcopy segment dominated the market and is further expected to continue its dominance over the forecast period, as the adoption of optical colposcope is high in developing regions
- The video colposcopy segment is expected to grow at the fastest rate during the forecast period
- Based on application, the oral examination segment is expected to grow the fastest rate during the forecast period and also held the largest revenue share in 2021
- Based on portability, the handheld segment is estimated to register the fastest growth rate during the forecast period, owing to its ease of use and compact nature
- The hospital segment held the largest revenue share based on end-use in 2021
- North America dominated the market and accounted for the largest revenue share in 2021
- In Asia Pacific, the market is anticipated to witness the fastest CAGR over the forecast period owing to the growing need for technologically advanced and cost-effective healthcare solutions