by Market Overview:
Uterine fibroids are non-cancerous tumors that develop in or around the muscular walls of the uterus. Symptoms of uterine fibroids include heavier and longer periods, pelvic pain and pressure, frequent urination, backache, constipation, infertility and miscarriages. Common treatment options for uterine fibroids include hysterectomy, myomectomy, uterine artery embolization,MRgFUS, and medication/hormone therapy.
Market Dynamics:
Rising awareness about minimally invasive procedures such as MRI-guided focused ultrasound surgery (MRgFUS) and uterine artery embolization is expected to drive growth of the U.S. uterine fibroid treatment market over the forecast period. According to U.S. National Library of Medicine, minimally invasive treatment approaches avoid long hospital stay and quick recovery as compared to hysterectomy. Also, the demand for non-surgical treatment options is increasing owing to benefits such as lower risk of complications, less pain and quicker recovery time. In addition, rising prevalence of uterine fibroids in the country is also anticipated to augment the market growth during the forecast period. According to Uterine Fibroids Foundation, around 70-80% women in the U.S. are affected by uterine fibroids by the age of 50 years.
Segment Analysis
The U.S. uterine fibroid treatment market is divided into hysterectomy, myomectomy and uterine artery embolization (UAE) sub-segments. The hysterectomy sub-segment currently dominates the market due to the permanent nature of addressing fibroids. It allows for the complete removal of the uterus to eliminate possibilities of fibroids recurring.
PEST Analysis
Political: Regulations require approval of FDA for new treatment devices and technologies. This delays market entry of novel treatments.
Economic: High healthcare costs in the U.S. increases demand for minimally invasive procedures like UAE which have lower costs and quicker recovery times compared to surgeries.
Social: Growing awareness about uterine fibroid treatment options and their benefits/risks empowers women to make informed healthcare decisions.
Technological: Advancements in interventional radiology/robotics enable targeted embolization of uterine arteries and surgical removal of fibroids through minimally invasive methods reducing recovery times.
Key Takeaways
The U.S. Uterine Fibroid Treatment Market Demand is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing preference for minimally invasive treatments over conventional surgeries.
The Western region currently dominates the market owing to higher patient awareness levels and healthcare infrastructure. However, the South is expected to emerge as the fastest growing region led by increasing focus on women’s health issues.
Key players operating in the U.S. uterine fibroid treatment market are Blue Endo, Boston Scientific Corporation, CooperSurgical, Inc., Karl Storz SE & Co. KG, Myovant Sciences GmbH (Sumitovant Biopharma Ltd.), Halt Medical, Inc. (Hologic, Inc.), LiNA Medical ApS, Merit Medical Systems, Olympus Corporation, and Richard Wolf GmbH. Companies are investing in developing novel technologies for fibroid treatment and diagnosis to gain market share.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
