Uterine Fibroids Treatment Devices Market
Number of pages: 100 | Report Format: PDF | Published date: February 06, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 5.29 billion |
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Revenue Forecast in 2030 |
US$ 12.24 billion |
|
CAGR |
9.75% |
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Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Technology, Treatment, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global uterine fibroids treatment devices market was valued at US$ 5.29 billion in 2021 and is expected to register a revenue CAGR of 9.75% to reach US$ 12.24 billion by 2030.
Uterine Fibroids Treatment Devices Market Fundamentals
Uterine fibroids, also known as leiomyomas or myomas, are abnormal, benign uterus growths that often occur between 30 – 40 years of childbearing age. Fibroids can vary in size and location and on the uterus walls or the surface. Hormonal imbalance and genetics are the major causes of the development of uterine fibroids. Uterine fibroids are prevalent in women with a family history of fibroids. The hormone estrogen, produced naturally in the body, causes the uterine fibroid to develop and increase. The prevalence of fibroids is the highest in Africa, followed by the Americas and Europe. In Asia and Oceania, the incidence of fibroids is lower; however, the population growth and aging demographic in the region are expected to increase the demand for treatment in the coming years.
The economic impact of fibroids is significant, with direct and indirect costs associated with treatment, lost productivity, and reduced quality of life. Despite the high prevalence of fibroids, access to treatment remains limited in many parts of the world due to the cost of treatment, lack of awareness, and cultural beliefs. Hence, uterine fibroids are a common and costly condition affecting women globally, with a growing demand for effective and accessible treatments.
As a result of technological advancements, many uterine fibroid therapies are available in the market, including minimally invasive surgical procedures that help to slow the growth of uterine fibroid. Uterine fibroid can be treated with surgery and medication. Hysterectomy, cryosurgery, myomectomy, uterine artery embolization, and uterine artery embolization are among the surgical alternatives.
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Uterine Fibroids Treatment Devices Market Dynamics
Key factors supporting the market revenue growth include the high prevalence of uterine fibroids and the high adoption of minimally invasive treatment techniques. Additionally, the market is expanding due to increase in focus of numerous industry participants to heavily engage in R&D activities to launch technologically improved devices in the market.
Uterine Fibroids Treatment Devices Market Ecosystem
The global uterine fibroids treatment market has been analyzed from three perspectives: technology, treatment, and region.
Uterine Fibroids Treatment Devices Market by Technology
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Based on the technology, the global uterine fibroids treatment devices market is segmented into surgical, laparoscopic, ablation, and embolization techniques.
The surgical techniques segment accounts for the majority of the market revenue share. The surgical techniques segment is sub-segmented into hysterectomy and myomectomy. Hysterectomy is the most recommended surgical procedure for treating uterine fibroids. If previous treatments have failed, hysterectomy is a permanent option for treating fibroids.
The demand for myomectomies is also increasing significantly. The procedure involves the removal of fibroids and not the whole uterus. Patients who have undergone myomectomy experience fewer postoperative symptoms, such as pelvic discomfort and heavy menstrual flow. The laparoscopic segment is further sub-segmented into laparoscopic myomectomy and myolysis. Laparoscopic treatments are often recommended to treat smaller and fewer fibroids. Additionally, this treatment option has recently gained high acceptance due to its advantages, such as faster recovery, low cost, and short hospital stays.
The ablation techniques segment is anticipated to grow with a high revenue CAGR during the forecast period. These ablation techniques segment is further sub-segmented into microwave ablation, hydrothermal ablation, cryoablation, and ultrasound ablation. Ultrasound ablation is mostly preferred ablation technique. The ultrasound ablation segment is further sub-segmented into high-intensity focused ultrasound and MRI-guided focused ultrasound. In the latter technique, uterine fibroids are heated and destroyed in magnetic resonance-guided focused ultrasound (MRgFUS), which uses a sequence of focused ultrasonic pulses (also known as sonication). Fibroids are accurately targeted during this process, while adjacent healthy tissue is avoided.
Uterine Fibroids Treatment Devices Market by Treatment
Based on the treatment, the global uterine fibroids treatment devices market is segmented into invasive treatment, minimally invasive treatment, and non-invasive treatment.
The invasive treatment segment dominated the global uterine fibroid treatment devices market in 2021. For younger patients and those who plan to conceive in the future, invasive treatment options for uterine fibroid are considered safe. Invasive treatment is appropriate for technically complicated cases. The non-invasive treatment is generally recommended in smaller fibroid cases. One of the most preferred non-invasive techniques is fibroid embolization, an outpatient, non-invasive procedure with less risk and few negative side effects. The trend towards non-invasive treatments for uterine fibroids is growing worldwide. Non-invasive treatments refer to those that do not require surgery and have fewer side effects compared to invasive options, such as hysterectomy. The trend towards non-invasive treatments is driven by a growing demand for minimally invasive options with fewer side effects and the development of new technology that makes these treatments more effective and accessible. Additionally, the increasing awareness about the benefits of non-invasive treatments and the desire for quicker recovery times contribute to this trend.
Uterine Fibroids Treatment Devices Market by Region
Regionally, the global uterine fibroids treatment devices market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America leads the market in terms of revenue share. The established healthcare facilities in the area, growing government initiatives, and increasing number of hysterectomy-related surgeries and hospital visits are boosting revenue growth in the regional market. Additionally, the existence of significant key competitors, such as Medtronic, Stryker, and Cooper Surgical, Inc., and the accessibility of technologically cutting-edge items are fostering market expansion in the area.
In Europe, uterine fibroids are a common gynecological condition, and there is a high demand for treatment options. According to the World Health Organization (WHO), the prevalence of fibroids in Europe is estimated to be between 20% and 80% among women of reproductive age. The demand for treatment is driven by the increasing awareness of available options and the region’s well-developed healthcare infrastructure. In addition, the growing aging population and the increasing incidence of obesity, which are both risk factors for fibroids, are contributing to the demand for treatment. Despite this demand, there may be disparities in access to treatment based on geographical location, economic status, and cultural beliefs.
Asia Pacific has a sizable patient base, and the market in the region is projected to develop at the fastest revenue CAGR during the projected period, representing a promising market for uterine fibroid treatment devices. The demand for uterine fibroid treatment devices in Asia Pacific is expected to grow due to the increasing prevalence of fibroids and the growing awareness about available treatment options. In addition, the region’s rapidly developing healthcare infrastructure, along with the increasing number of gynecologists, is also driving demand for uterine fibroid treatment. However, some countries may have limited treatment uptake due to economic and cultural barriers.
Uterine Fibroids Treatment Devices Market Competitive Landscape
The prominent players operating in the global uterine fibroids treatment devices market are:
The high prevalence of uterine fibroids, increase in the adoption of minimally invasive techniques for treatments, and rise in the measures taken by a number of industry participants to heavily engage in R&D to launch technologically improved devices are propelling revenue growth in the market.
Medtronic plc, CooperSurgical Inc., Stryker Corporation, Ethicon, Inc., and Minerva Surgical, Inc. are among the prominent players in the global market.
The possibility of excessive blood loss during the treatment procedures is limiting the global uterine fibroids treatment devices market revenue growth.
The global uterine fibroids treatment devices market is expected to register a revenue CAGR of 9.75% during the forecast period from 2022 to 2030.
In terms of treatment type, the invasive treatment segment dominates the market.
*Insights on financial performance are subject to availability of the information in the public domain