PUBLISHER: Market Research Future | PRODUCT CODE: 1522703
PUBLISHER: Market Research Future | PRODUCT CODE: 1522703
Global Fibroadenoma Market Research Report Information by Type (Simple Fibroadenoma and Complex Fibroadenoma), by Diagnosis & Treatment (Diagnosis [Ultrasound Scan, Mammography, and Biopsy] and Treatment [Cryoablation, High Intensity Focused Ultrasound (HIFU), Lumpectomy, and Drugs {Dydrogesterone, Medroxyprogesterone, Selective Estrogen Receptor Modulators, and Others}], by End User (Hospital and Clinics, Diagnostic Centers, and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2032
Market overview
In 2023, the fibroadenoma market was estimated to be worth USD 0.71 billion. During the forecast period (2024-2032), the Fibroadenoma Market industry is anticipated to experience a compound annual growth rate (CAGR) of 6.36%, increasing from USD 0.77 billion in 2024 to USD 1.34 billion by 2032.
Rising incidences of fibroadenoma among women and increased awareness of fibroadenoma through public education campaigns are the primary factors propelling the growth of the fibroedema market.
Public education campaigns that aim to raise awareness of fibroadenoma are a significant factor in the growth of the fibroadenoma market. Public education campaigns are essential for informing women about the signs and symptoms of fibroadenoma. This increased awareness motivates women to undertake routine breast examinations and screenings and promotes proactive health-seeking behavior. The expeditious intervention and appropriate management of fibroadenomas are contingent upon early detection. Additionally, public education campaigns assist in the debunking of myths and misconceptions regarding breast lumps, thereby reducing the anxiety and dread that are often associated with such discoveries.
Additionally, the expansion of the fibroadenoma market is significantly influenced by the advancement of diagnostic methods. The precision of detection has been substantially improved by advancements in diagnostic tools, which are essential for timely and appropriate medical intervention. Accurate identification of fibroadenomas is essential. Healthcare professionals can identify fibroadenomas at an earlier stage with the assistance of improved diagnostic techniques. There is a critical need for early identification in order to implement treatment strategies that are timely and targeted, reduce the likelihood of complications, and improve patient outcomes. The diagnostic approach to fibroadenomas has been transformed by the introduction and refinement of non-invasive imaging technologies, including magnetic resonance imaging (MRI) and ultrasound.
Market segment insights
The Fibroadenoma Market is segmented into simple and complex fibroadenoma based on type.
The fibroadenoma market is segmented into 2 categories: diagnosis and treatment.
The fibroadenoma market is segmented into hospitals & clinics, ambulatory surgical centers, and others based on the end user.
Regional Perspectives
In 2022, North America held the largest market share of over 38.49% due to the advanced diagnostic techniques, medical infrastructure, and reimbursement policies and insurance coverage. Additionally, North Americans are more cognizant of health concerns and have greater access to healthcare than other regions. Even in cases where fibroadenomas are asymptomatic, this results in more frequent exams and diagnoses.
The fibroadenoma market in Europe is expected to experience substantial growth during the forecast year, 2024-2032, because of the growing emphasis on minimally invasive procedures for fibroadenomas, such as cryoablation and vacuum-assisted excision, which are particularly prevalent in Europe. The region's hospitals and institutions are well-equipped to perform these procedures, which attract patients who are interested in less invasive alternatives.
The Asia-Pacific fibroadenoma market is the fastest-growing region during the forecast period because of the frequent introduction of breast diagnosis and treatment devices through expansion. IceCure Medical Ltd. announced in May 2023 that ProSense had been installed and inaugurated at Kovai Medical Center and Hospital ("KMCH") in India.
GE Healthcare (US), Koninklijke Philips N.V. (Germany), Shimadzu Corporation (Japan), Siemens Healthineers (Germany), Canon Medical Systems Corporation (Japan), Dilon Technologies (US), Pfizer, Inc. (US), IceCure Medical (Israel), Alpinion Medical Systems (South Korea), and Fujifilm Holdings Corporation (Japan) are among the key companies in the fibroadenoma market.