Market Research Future has a half cooked research report on the global Vasectomy market. global vasectomy market is expected to reach USD 24.0 billion at a CAGR of ~ 7.1 % during the by the end of forecast period 2017-2023.
Vasectomy is male sterilization surgery, which involves severing the male vas deferens to prevent sperm from entering into the urethra. It is a permanent procedure of preventing fertilization as reversal is costly and often does not restore the male’s fertility. Most vasectomy patients can resume their sexual behaviour within a week with little or no discomfort. Vasectomies is performed by several methods such as open or conventional vasectomy, no-scalpel techniques or minimal invasive technique. The advancement in the minimal invasive procedure has resulted in the falling rates for open ended surgery. The advantages of minimal invasive surgical procedures such as low hospital stay, low trauma and surgical footprint, less pain has resulted in greater demand for minimal invasive procedures and thus, greater acceptance.
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Global Vasectomy Market Players- Pfizer, Inc., Abbott, GlaxoSmithKline plc, Sanofi S.A., Novartis AG, Bayer AG, Bristol Myers Squibb Company, Eli Lilly and Company, Inc., Accurate Surgical & Scientific Instruments Corporation, Sklar Surgical Instruments, Advanced Meditech International and others.
Increasing demand due to growing population and male female equality, side effects of female contraception such as risk of cancer, hormonal disturbances, osteoporosis, rise in body weight etc., high safety profile of vasectomy and its simplicity over tubectomy such as lower cost, low rates of infection, simplicity and less hospital stay etc. and others are major drivers of the market. The market restraints are the complications such as risk of bleeding, infections etc., lack of awareness, issues of male supremacy coupled with the non-reversible nature of vasectomy, social taboo, especially, in the developing regions and others.
Product development represents the best strategy for the market growth. The market is expected to witness exponential growth over the review period owing to technological advancement in minimal invasive surgical procedures. The no-scalpel techniques has also raised its share as compared to the conventional and open ended methods. However the higher cost of minimal invasive techniques has restricted their use. Our analysis reflect that the higher cost of minimal invasive techniques is offset by the low complications rate and lower surgical footprint.
Market development is another strategy for as there is a large unmet need in the developing regions such as India and China. Cost of the product will be a decisive factor in the developing regions such as Asia Pacific and, especially, Africa.
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The Americas accounts for a significant market share owing to high expenditure on the health care, especially, of the U.S. and Canada. Additionally, the greater number of vasectomies due to greater male female equality in the U.S. and Canada drives the vasectomy market. The high concentration of the major hospitals in the developed countries of this region coupled with good reimbursement rates is adding fuel to the market growth. Moreover, the large share of surgeries in the returns of hospitals favors the market. Canada has a higher rate of people undergoing vasectomies than the U.S.
Europe is the second largest market in the world due to growing pharmaceutical and industrial base. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period. Belgium, Denmark, and Switzerland have higher rate of people undergoing vasectomies than other nations of Europe.
Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to fast growing healthcare sector and large unmet needs over the forecast period. India was the first nation in the world to include population control as a national program way back in 1952. South East Asian countries such as China, India, and Malaysia are projected to contribute highly to the market growth. The growing penetration of healthcare industry in the Asia Pacific region is expected to drive the future vasectomy market in the region.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other. However, some of the Middle East nation such as Kuwait, Jordan, Egypt, and Iran are likely to contribute majorly to growth of the market. The African region is expected to witness a poor growth owing to poor economic and political conditions, and poor healthcare development. Botswana and South Africa are expected to be the future markets with approximately 1% rate of people undergoing vasectomies. Other regions are expected to be laggards due to poor social development and tribal identities such as sub Saharan Africa.
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The global vasectomy market has been segmented on the basis of type, drug, patient, and end user.
Based on the type, the market has been segmented as conventional vasectomy, no-scalpel vasectomy, and minimally invasive vasectomy.
Based on the drug, the market has been segmented as anesthetics, pain killers, antibiotics, and others.
Based on the patient, the market has been segmented as humans, and animals.
Based on the end user, the market has been segmented as hospitals and clinics, research and academics, and others.
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