Vaginal Specula Market Size to Grow at a CAGR of 3.6% from 2022 to 2028

Rise in Incidence of Cervical Cancer to Drive Global Vaginal Specula Market

NEW YORK, UNITED STATES, November 28, 2022 /EINPresswire.com/ -- A vaginal speculum is a medical device typically used to examine vaginal orifices by doctors and medical practitioners. It is either a metal-based or non-metal medical device that gynecologists use to open the vaginal wall to examine the vagina and cervix and extract cervical cells for PAP or smear examination.

The rise in the incidence of cervical cancer and an increasing number of diagnostics services for women's health are expected to boost the growth of the global vaginal specula market during the forecast period. However, the market is likely to be impacted by complications associated with gynecological procedures during the forecast period. A speculum-based screening is required for Pap smear cervical cancer screening. Easy prevention and treatment are encouraging more women to undergo diagnosis and take treatment if the results of diagnosis are positive, thereby increasing the demand for vaginal specula.

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The vaginal specula market is expected to grow from US$ 955.7 million in 2022 to US$ 1,180.4 million by 2028; it is estimated to grow at a CAGR of 3.6% from 2022 to 2028.

North America holds the largest market share of the vaginal specula market, whereas Asia Pacific is expected to register the highest CAGR during the forecast period. The increasing prevalence of gynecology disorders, a vast incidence rate of cervical cancer, and increasing emphasis on women's health favor the growth of the vaginal specula market in the region. The vaginal specula market in the US is expected to grow from US$ 308.41 million in 2022 to US$ 391.18 million by 2028 at a CAGR of 4.0% during the forecast period. The highest incidence rate of cervical cancer is reported in Hispanic women. As per a study conducted by the CDC, white women had the highest incidence rate of uterine cancer (27.16 per 100,000), vulvar cancer (2.80 per 100,000), and ovarian cancer (11.50 per 100,000). Further, the highest incidence rate of vaginal cancer was observed among black women in the US. Thus, the high incidence of these types of cancer is contributing to the growth of the vaginal specula market in North America.

In the US, the National Program of Cancer Registries (NPCR), funded by the Centers for Disease Control and Prevention (CDC), is a population-based surveillance system of cancer registries. Through the NPCR, the CDC supports central cancer registries in 46 states, the US Pacific Island Jurisdictions, Puerto Rico, the District of Columbia, and the US Virgin Islands. Cancer is one of the significant health issues among women in the country. As per the study conducted by the CDC, 42,275 females died of breast cancer, 63,135 females died of lung cancer, 23,826 females died of colorectal cancer, and 22,495 females died of pancreatic cancer. According to the American Cancer Society, in 2022, ~19,880 women in the US were diagnosed with ovarian cancer, and ~12,810 women succumbed to death by this disease. In recent years, uterine cancer has been the most common gynecologic cancer in the US, and vaginal cancer has been the least common cancer reported among women. This is driving the market for vaginal specula in the US.

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The vaginal specula market is majorly comprised of top players involving Teleflex Inc., B.Braun Melsungen AG, Cooper Companies Inc., BD, Integra LifeSciences Holdings Corporation, STERIS plc, Baxter International Inc., Splice-Cast Ltd., RI.MOS. srl, and Vernacare.

The companies listed above are implementing various strategies that have resulted in the growth of the company and in turn, have brought about various changes in the worldwide market. Additionally, the companies have adopted several inorganic and organic strategies for accelerating their growth and improving their market position.

Below is the list of the growth strategies done by the players operating in the vaginal specula market:

In Dec-2021, Baxter completed the acquisition of Hillrom. This combination unlocked the next phase of the company's transformation for greater impact on patients, employees, clinicians, shareholders worldwide. Hillrom is among the leading manufacturers of vaginal speculum.

In Dec-2021, CooperCompanies has completed the previously announced definitive purchase agreement to acquire Generate Life Sciences, a leading provider of donor egg and sperm for fertility treatments, fertility cryopreservation services, and newborn stem cell storage (cord blood and cord tissue), for approximately $1.6 billion. This acquisition will help CooperCompanies to further strengthen their sales.

In May-2021, CooperSurgical completed its acquisition of OBP Medical, which includes its portfolio of single-use illuminated vaginal speculums, anoscopes, and laryngoscopes. CooperSurgical's purchase shows the company's commitment to creating meaningful solutions that meet the demands of providers.

In Mar-2021, Vernacare acquired Robinson Healthcare. Robinson Healthcare is the owner of the UK’s market-leading, single-use surgical instrument brand - Instrapac. The acquisition continues Vernacare’s buy and build strategy and increases the Group’s turnover to £120m annually.

In Mar-2021, CooperSurgical completed the acquisition of Safe Obstetric Systems, the inventors of the patented single-use product, the Fetal Pillow. CooperSurgical's range of labour and delivery products will be expanded to better serve healthcare practitioners and their patients as a result of the purchase, which builds on over 30 years of experience in women's healthcare.

In Feb-2021, CooperSurgical completed the acquisition of AEGEA Medical and its FDA-approved Mara Water Vapor Ablation System from California-based AEGEA Medical. CooperSurgical's increasing range of medical products focused on clinic and practice-based women's health is complemented by the acquisition, which builds on over 30 years of experience in women's healthcare.

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