Owing to the improvement in reimbursement policies, the gynecological devices and instruments market is expected to escalate in the coming years. According to the recent 2018 hysterectomy reimbursement fact sheet, suggested by the Centers for Medicare and Medicaid Services (CMS), the average Medicare payment for supracervical abdominal hysterectomy is USD 983. Whereas, for vaginal hysterectomy, laparoscopy-assisted supracervical hysterectomy, and laparoscopy-assisted vaginal hysterectomy, the average Medicare payment is USD 1004, USD 915, and USD 1008, respectively.
A number of factors such as the increasing cases of gynecological issues, improving regulatory framework, growing research funding, unmet medical needs, rising competition among market players, increasing number of gynecology surgeries, emerging Asian markets, and increasing government assistance propel the growth of the global gynecological devices and instruments market.
However, the high cost of treatment, lack of skilled or trained physicians, and poor healthcare system in low and middle-income countries may hamper the growth of the market.
It is estimated that the gynecological devices and instruments market is expected to grow at a CAGR of 7.4% during the forecast period of 2018–2023.
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