The impacts of COVID-19 can be seen everywhere with no exclusion given to the global hysteroscope and colposcope markets. Both of these markets declined substantially in 2020 as the number of colposcopy referrals and hysteroscopy procedures declined due to healthcare precautions. As the global population continues to receive their vaccines, and recover from the global economic downfalls throughout 2020, both the hysteroscope and colposcope markets are increasing into 2021.
What are Colposcopes and Hysteroscopes?
Colposcopes are large electronic microscopes with a light source at one end. In general, colposcopes visually examine the cervix, vaginal wall, and vulva in a medical procedure otherwise known as a colposcopy. Colposcopies are generally recommended when abnormalities appear in a Pap smear and usually take around 10-15 minutes. Colposcopies can further determine premalignant or malignant lesions and show evidence of dysplasia, cancer, HPV, and more.
Hysteroscopes, on the other hand, are instruments that look inside the uterus during a hysteroscopy. Physicians typically perform these procedures in the event of heavy or abnormal bleeding, severe cramping, frequent miscarriages, or for other reasons. Operative hysteroscopy uses a different type of scope that has channels with tiny instruments that remove any abnormalities. Overall, hysteroscopies take around 35-40 minutes and use either local or general anesthesia.
How are these markets recovering?
Moving into 2021, the number of hysteroscopy procedures is increasing following a reduction in 2020. As procedures increase, unit sales are similarly showing signs of an increase as these can be used in office settings. Additionally, the release of new technology is ongoing and further motivating an increase in the market and an increase in unit sales. The ability for these procedures to diagnose and treat patients in one sitting is unique and will continue to encourage usage and growth in the procedure numbers. In total, the hysteroscope market consists of both rigid and flexible devices. Rigid hysteroscopes are dominant within this market as they are available in a wide range of diameters and are accommodating.
Colposcopes are following a similar trend and are increasing at a greater growth rate than previously experienced in 2020. This market is very mature and stable, and therefore the majority of the sales are replacements. Nevertheless, as more healthcare facilities arise, and other facilities choose to replace their current systems with new technological advances, the market will increase. Unit sales within this market are distinctive in the sense that they are dependent on the population of a country. Because of this, there is visible segmentation between the lower-end and higher-end systems in terms of price and quality. However, most regions are showing signs of a transition from less expensive systems towards advanced systems over the forecast period.
Which companies are leading this growth?
Cooper Surgical, Olympus, and Carl Zeiss are the leading competitors within the colposcope market. All three of these companies receive tremendous brand recognition and offer high-quality products. Cooper Surgical’s german-made Leisegang® line of colposcopes has received extremely positive reactions and gained immense popularity throughout the world. Other products offered by Cooper Surgical including those that provide double the brightness and clarity have allowed it to become the overall leading competitor.
Furthermore, Karl Storz, Olympus, and Richard Wolf are the leading competitors within the hysteroscope market. With wide ranges of high quality and durable products, there’s no doubt that these three dominate the global market share. Karl Storz offers both miniaturized hysteroscopes for office use as well as a product line for standard gynecological procedures. These products, along with their HOPKINS® II rod lens telescope, have been recognized for setting the standard in optics technology. Therefore, as you may have already guessed, Karl Storz is the overall leading competitor.
Both the global colposcope and hysteroscope markets suffered in 2020. COVID-19 caused a decrease in procedures and therefore unit sales, ASPs, and growth rates declined. In spite of this, the market is resilient and is increasing into 2021 and over the forecast period. As vaccines are administered, increased procedures, advancing technologies, replacement sales, and the addition of more healthcare facilities are all contributing to the market’s growth. Large companies such as Cooper Surgical, Karl Storz, and Olympus are driving the innovative abilities of these markets through their high-quality, durable, and reputable products. All things considered, colposcopes and hysteroscopes faced minor, short-lived implications in 2020 and will rebound and further excel into 2021.