PUBLISHER: The Business Research Company | PRODUCT CODE: 1414660
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414660
“Uterine Fibroids Treatment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on uterine fibroids treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for uterine fibroids treatment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The uterine fibroids treatment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Uterine fibroids treatment encompasses procedures aimed at addressing uterine fibroids, which are non-cancerous growths that form in the uterus, potentially leading to symptoms such as heavy menstrual bleeding, pelvic pain, and pressure on the bladder or bowel.
The primary categories of uterine fibroids treatment consist of subserosal fibroids, intramural fibroids, submucosal fibroids, and pedunculated fibroids. Subserosal fibroids, also known as pedunculated fibroids, are benign growths located on the outer uterine wall, directly connected to the uterus. Various treatment options are available, including hormone therapy, androgens, gonadotropin-releasing hormone antagonists, uterine artery embolization, myomectomy, and hysterectomy. These treatments cater to diverse end-users such as hospitals, ambulatory surgical centers, and others.
The uterine fibroid treatment market research report is one of a series of new reports from The Business Research Company that provides uterine fibroid treatment market statistics, including uterine fibroid treatment industry global market size, regional shares, competitors with a uterine fibroid treatment market share, detailed uterine fibroid treatment market segments, market trends and opportunities, and any further data you may need to thrive in the uterine fibroid treatment industry. This uterine fibroid treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The uterine fibroids treatment market size has grown rapidly in recent years. It will grow from $3.67 billion in 2023 to $4.04 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The expansion observed in the historical period can be ascribed to a heightened incidence of uterine fibroids, progress in diagnostic methods, growing awareness and education, the impact on quality of life, and the evolution of minimally invasive procedures.
The uterine fibroids treatment market size is expected to see strong growth in the next few years. It will grow to $5.77 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The anticipated expansion in the forecast period can be linked to progress in non-invasive treatment, a growing emphasis on fertility preservation, the upsurge in minimally invasive techniques, personalized medicine approaches, and collaborative research and development. Key trends expected in the forecast period include an increasing focus on fertility-preserving treatments, the integration of imaging technologies in treatment planning, heightened awareness and education initiatives, customized treatment plans based on patient profiles, and the exploration of novel therapeutic targets.
The anticipated growth in the uterine fibroids treatment market is attributed to the high prevalence of uterine fibroids among women. Uterine fibroids, non-cancerous growths in the uterus, can lead to symptoms such as heavy menstrual bleeding, pelvic pain, and pressure on the bladder or bowel. Uterine fibroids treatment involves blocking estrogen and progesterone production, ceasing menstruation, and improving anemia. For example, a November 2022 report from the National Centre for Biotechnology Information revealed an estimated incidence of uterine fibroids ranging from 40 to 60% among women under 35 and 70 to 80% among women over 50. Thus, the widespread prevalence of uterine fibroids worldwide propels the uterine fibroids treatment market's growth.
The expected rise in healthcare expenditure is set to drive the uterine fibroids treatment market. Healthcare expenditure denotes the total financial resources allocated by a country, government, organization, or individual for healthcare-related goods and services within a specific timeframe. Increased healthcare expenditure supports the development and adoption of advanced uterine fibroids treatment options, including minimally invasive procedures such as uterine artery embolization or magnetic resonance-guided focused ultrasound surgery. For instance, in 2022, Poland's healthcare expenditure reached PLN 205.6 billion ($50.99 billion), representing 6.7% of GDP, a growth of about PLN 36.1 billion ($8.95 billion) from 2021. Hence, the escalating healthcare expenditure contributes to the uterine fibroids treatment market's expansion.
Innovations in products emerge as a prominent trend in the uterine fibroid treatment market, with companies actively adopting inventive solutions to maintain their market standing. An example is the FDA approval obtained by Myovant Sciences and Pfizer in May 2021 for MYFEMBREE (relugolix 40 mg, estradiol 1 mg, and norethindrone acetate 0.5 mg). This marks the first once-daily treatment with a maximum 24-month duration to control severe monthly bleeding caused by uterine fibroids in premenopausal women.
Significant players in the uterine fibroids treatment market are directing their efforts toward developing minimally invasive procedures (MIPs) for addressing uterine fibroids. Minimally invasive procedures involve medical interventions or surgeries that cause minimal disruption to the body's normal structure and function. These procedures aim to alleviate symptoms such as heavy menstrual bleeding and pelvic pain while reducing recovery times and preserving reproductive options. As an illustration, Humber River Hospital in Canada launched the use of the Acessa ProVu system in November 2022. This medical technology employs monopolar radiofrequency (RF) energy through a disposable Handpiece for percutaneous, laparoscopic coagulation, and ablation of soft tissue, including the treatment of symptomatic uterine fibroids.
In January 2022, Hologic Inc., a US-based medical technology company, acquired Acessa Health for $80 million, enhancing Hologic's presence in the gynecological surgical space. Acessa Health, a US-based biotechnology company, specializes in developing minimally invasive, uterine-sparing devices designed to treat women suffering from symptomatic fibroids.
Major companies operating in the uterine fibroids treatment market report are Gynesonics Inc., Medtronic plc, Boston Scientific Corporation, Karl Storz GmbH, Pfizer Inc., Abbvie Inc., Richard Wolf GmbH, CooperSurgical Inc., Olympus Corporation, Myovant Sciences GmbH, Insightec Ltd., Hologic Inc., Obseva SA, Eli Lilly and Company, GlaxoSmithKline plc, Stryker Corporation, Smith & Nephew plc, Minerva Surgical Inc., Ethicon Inc., Cook Medical LLC, C.R. Bard Inc., Biomerics LLC, Visionsense Corp., Halt Medical Inc., Acessa Health Inc., Blue Endo, LiNA Medical ApS, Merit Medical Systems Inc., Allergan plc, Astellas Pharma Inc.
North America was the largest region in the uterine fibroids treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the uterine fibroids treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the uterine fibroids treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The uterine fibroids treatment market includes revenues earned by entities by providing medical, surgical, and radiologically guided therapies available as treatments for uterine fibroids. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.