Global Colposcopes Market Expected to Reach $661 Million by 2026

According to a new report published by Allied Market Research, titled, "Colposcopes Market by Product Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global colposcopes market size was valued at $470 million in 2018, and is projected to reach $661 million by 2026, growing at a CAGR of 4.3% from 2019 to 2026.

Colposcopy is a procedure of closely examining cervix, vagina, and vulva through a special magnifying device called a colposcope. This procedure is generally performed when cervical screening finds abnormal cell growth in cervix. Portable, handheld, and stationary colposcopes are available in the market, which are used to diagnose cervical cancer, genital warts, vaginal cancer, and vulvar cancer.

The colposcopes market is expected to experience significant growth during the forecast period, owing to rise in prevalence of cervical cancer, growth in awareness for early screening of cervical cancer, rise in demand for colposcopes, and availability of technologically advanced colposcopes. According to the American Society of Clinical Oncology (ASCO) report 13,170 women in the U.S. diagnosed with invasive cervical cancer. Incidence rates for the disease dropped by more than 50% between 1975 and 2015 due to increase in screening procedures to find cervical changes before they turn cancerous. In addition, colposcopy is a painless, non-invasive procedure, with no blood loss; and is cost efficient, which further influences their demand globally. However, complications associated with the use of colposcopes can hamper the growth of the market. 

Based on product type, the portable segment dominates the global market, and is anticipated to continue this trend over the forecast period, owing to ease of sample handling, portability, screening convenience, and higher adoption of portable colposcopes in hospitals and gynecological clinics.

On the basis of application, the cervical cancer screening segment accounted for majority of the market share, owing to surge in number of target population and growing awareness for cervical cancer screening among people. In addition, technological advancements in colposcopes, and availability of technologically advanced screening tools majorly drive the colposcopes market growth for this segment. For instance, according to the World Health Organization, cervical cancer is the fourth most frequent cancer in women, with 570,000 new cases in 2018, representing around 6.6% of all female cancers. 

Key Findings of the Study: 

• On the basis of product type, the portable segment held more than half share in the global colposcopes market in 2018.
• On the basis of application, the cervical cancer screening segment is anticipated to show significant colposcopes market growth during the forecast period. 
• On the basis of end user, the diagnostic centers segment held approximately half of the colposcopes market share in 2018.
• Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.1% during the forecast period. 

North America accounted for approximately one-half of the global colposcopes market share in 2018 and is expected to remain dominant throughout the forecast period. This was attributed to higher adoption of colposcope products; rise in prevalence of cervical cancer; increase in awareness among patients regarding early screening of the disease, with well-developed healthcare infrastructure; and strong presence of key players in the market. On the other side, Asia-Pacific is expected to experience the highest growth rate during the forecast period, majorly due to improvement in healthcare infrastructure, rise in number of advanced medical facilities, and growing awareness regarding early screening of the disease.