Wilmington, Delaware, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The Global Uterine Fibroid Treatment Market was estimated at a market value of US$ 4.6 billion in 2022 and is expected to grow at a significant CAGR of over 4.4% over the forecast period of 2023-2028, market report by RationalStat
Market Scope and Report Overview
The market is expected to increase as a result of factors such as rising awareness and patient education, rising prevalence of uterine fibroids, and technical breakthroughs in treatment choices. Women frequently experience uterine fibroids, and the condition's rising incidence is fueling demand for efficient treatment alternatives. The number of treatment options available for uterine fibroids has increased due to developments in medical technology, including minimally invasive procedures and image-guided therapies, which have boosted usage.
Women frequently experience uterine fibroids, particularly throughout the reproductive years. The need for efficient treatment alternatives has increased as a result of the rising prevalence of fibroids. The issue has been identified and diagnosed sooner thanks to increased knowledge about uterine fibroids and improvements in diagnostic methods. The need for therapy options has consequently grown.
Market intelligence for the global uterine fibroid treatment market covers market sizes on the basis of market value (US$/EUR Million) and volume (‘000 units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global uterine fibroid treatment market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Uterine Fibroid Treatment Market: Segmental and Market Share Analysis
- On the basis of technology, with a share of 33.9%, the surgical techniques category dominated the entire market in 2022. The most common surgical procedures for treating fibroids in women are hysterectomy and myomectomy, which account for the rise in their number.
- On the basis of mode of treatment, invasive treatment segment dominated the overall market with a share of 44.0% in 2022. This is attributed to increasing cases of uterine fibroids and associated symptoms in women around the world.
Period Covered include data for 2019-2028 along with year-wise demand estimations
The uterine fibroid treatment market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global uterine fibroid treatment market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.
In the competition analysis section, the global uterine fibroid treatment market provides a detailed competition benchmarking analysis based on the market share of the leading companies/brands/ producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
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Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment
In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.
The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global uterine fibroid treatment market include,
- In May 2021, Myovant Sciences and Pfizer Inc. announced that the United States Food and Drug Administration (FDA) had approved MYFEMBREE the first once-daily medication for controlling heavy menstrual bleeding linked to uterine fibroids in premenopausal women.
- In February 2021, Pfizer and Myovant announced positive findings from the Phase III LIBERTY 1 and LIBERTY 2 trials. Companies are evaluating a once-daily combination therapy of relugolix plus estradiol and norethindrone acetate in women with uterine fibroids.
Some of the prominent players that contribute significantly to the global uterine fibroid treatment market growth include Myovant Sciences GmbH, Gynesonics, Medtronic, Boston Scientific Corporation, INSIGHTEC, Hologic, Inc., Karl Storz Gmbh, Minerva Surgical, Inc., Pfizer, Inc., Abbvie, Inc. among others.
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RationalStat has segmented the global uterine fibroid treatment market based on mode of treatment, technology, and region
- Global Uterine Fibroid Treatment Market Value (US$ Million), Volume (‘000 units), and Market Share (2019-2028) Analysis by Mode of Treatment
- Invasive Treatment
- Minimally Invasive Treatment
- Non-invasive Treatment
- Global Uterine Fibroid Treatment Market Value (US$ Million), Volume (‘000 units), and Market Share (2019-2028) Analysis by Technology
- Surgical Techniques
- Hysterectomy
- Myomectomy
- Laparoscopic Techniques
- Laparoscopic Myomectomy
- Myolysis
- Ablation Techniques
- Microwave Ablation
- Hydrothermal Ablation
- Cryoablation
- Ultrasound Ablation
- High Intensity Focused Ultrasound (HIFU)
- MRI-guided Focused Ultrasound (MRgFUS)
- Other Ablation Techniques
- Embolization Techniques
- Surgical Techniques
- Global Uterine Fibroid Treatment Market Value (US$ Million), Volume (‘000 units), and Market Share (2019-2028) Analysis by Region
- North America Uterine Fibroid Treatment Market
- US
- Canada
- Latin America Uterine Fibroid Treatment Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Uterine Fibroid Treatment Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Uterine Fibroid Treatment Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Uterine Fibroid Treatment Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Uterine Fibroid Treatment Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Uterine Fibroid Treatment Market
- Leading Companies and Market Players
- Myovant Sciences GmbH
- Gynesonics
- Medtronic
- Boston Scientific Corporation
- INSIGHTEC
- Hologic, Inc.
- Karl Storz Gmbh
- Minerva Surgical, Inc.
- Pfizer, Inc.
- Abbvie, Inc.
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Key Questions Answered in the Uterine Fibroid Treatment Report:
- What will be the market value of the global uterine fibroid treatment market by 2028?
- What is the market size of the global uterine fibroid treatment market?
- What are the market drivers of the global uterine fibroid treatment market?
- What are the key trends in the global uterine fibroid treatment market?
- Which is the leading region in the global uterine fibroid treatment market?
- What are the major companies operating in the global uterine fibroid treatment market?
- What are the market shares by key segments in the global uterine fibroid treatment market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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