Colposcopy Market is projected to experience significant growth from 2018 to 2024.
Colposcopy market size is expected to witness a significant growth due to rising incidences of cervical cancer across the globe. The key application of colposcopy is to prevent cervical cancer by detecting precancerous tissues. According to the World Health Organization (WHO), cervical cancer is identified to be the second most leading cause of cancer deaths in women worldwide. Cancer burden is growing among women in both, high-income countries (HICs) and low- and middle-income countries (LMICs) due to changes in the prevalence of cancer risk factors as countries experience economic transition.
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The major risk factors include changing lifestyle patterns, smoking, physical inactivity, excess body weight and changes in reproductive patterns, such as a late first childbirth as well as fewer childbirths. Hence, higher prevalence of cervical cancer owing to above mentioned factors will drive the market growth of colposcopes across the globe.
Technological advancement in colposcopes, offering easier cervical cancer screening, will drive the market growth in the forthcoming years. Duke university researchers, in 2017, have developed a ‘Pocket colposcope’ that removes the need for speculum and enables self-screening. This speculum free colposcope enables images on a laptop or a smart phone and makes cervical cancer screening more approachable to women living in low-resource areas, thus increasing the demand for colposcopes. Additionally, the government-initiated cancer awareness programs, fair reimbursement policies and the adoption of newer technologies will significantly boost the industry growth.
However, availability of alternatives for diagnosing cervical cancer such as Pap test, HPV typing, PET-CT, proctoscopy and laproscopy may hamper the industry growth over the forecast period. Moreover, lack of skilled clinical professionals may impact negatively on the colposcopy market growth.
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Optical colposcope segment accounted for the largest share of colposcopy market in 2016 owing to its benefits such as low cost and easy installation of these instruments. Optical colposcopes interrogate changes in tissue architecture, cell morphology and biochemical composition, associated with the development of precancer, thus enabling early diagnosis of cervical cancer.
Portable colposcope segment dominated the global colposcopy market in 2016. It is expected to account for the largest share in forthcoming years as well as expected to grow at highest CAGR during the forecast period. This growth is attributable to various advantages of portable colposcopes, such as better result reproducibility, ease of installation, easy movement within medical settings as well as the ability to produce high-definition images, and stable cervix examinations.