A growing number of medical indications related to women’s health are being detected, treated, and even cured more promptly than ever before, GlobalData, a data and analytics company, said on Tuesday.
This is in part due events like Sexual and Reproductive Health Awareness Week in Canada between February 14 to 18. Against this backdrop, the global market for reproductive health devices has historically grown at a steady rate and is forecast to approach sales of $3.7 billion in 2030, forecasts GlobalData.
“Depending on the indication, female patients may opt for a combination of lifestyle changes, medications or undergo surgeries to treat their underlying sexual or reproductive health conditions,” Brian Hicks, Senior Analyst at GlobalData, said on Tuesday.
Some common surgical procedures many women encounter in their lifetime to address their reproductive health concerns include hysteroscopy, laparoscopy, in vitro fertilization (IVF), endometrial ablation, sterilization, and reversible contraceptive device insertions. Each of these utilize a variety of medical devices, such as hysteroscopes, laparoscopes, IVF catheters and media, tubal clips and rings, intrauterine devices (IUDs), hormonal implants, and diaphragms.
“Some key drivers of the growth of the reproductive health devices market include more women seeking medical attention for their sexual and reproductive health, technological advancements that enable improved diagnostic accuracies, and a greater number of treatment options being made available more than ever before,” Hicks said.
While many of the reproductive health devices markets have been well established, there are still nearly 100 different products under development across the world, the majority of which are in clinical stages of development and are reversible contraceptive devices.
“As both copper IUD and hormonal implants markets are forecast to grow globally in particular due to rising preference towards such devices over alternative options, reversible contraceptive device manufacturers are taking note and investing more into their R&D and product development to meet the rising demand,” Hicks added.
