Uterine Fibroid Treatment Devices Market by Technology (Surgical, Ablation, Laparoscopic, and Embolization), Mode of Treatment (Minimally Invasive Treatment, Invasive Treatment, and Non-Invasive Treatment), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
The global uterine fibroid treatment devices market size was USD 6,073.60 Million in 2022 and is likely to reach USD 13,980.00 Million by 2031, expanding at a CAGR of 9.71% during the forecast period, 2023–2031. High number of women suffering from uterine fibroids is likely to fuel the market.
Growing preference for minimally invasive medical procedures coupled with expanding use of advanced technology in the healthcare sector is likely to propel the market. The potential benefits of uterine fibroid treatment devices include non-invasive, quick recovery, high success rate, preserve fertility, minimal scarring, and safety. These devices are minimally invasive and are intended to provide an alternative to traditional surgical treatments for uterine fibroids, such as hysterectomy or myomectomy. Rising preference for modern devices over conventional treatment solutions is fueling the market.
- In June 2022, ObsEva, announced UK MHRA marketing authorization for Yselty, an oral GnRH antagonist for uterine fibroid treatment. Yselty is the first and only permitted GnRH antagonist to deliver flexible dosage alternatives with and without hormonal add-back therapy.
Uterine fibroid treatment devices use various techniques to destroy or shrink fibroids. The treatment includes high-intensity focused ultrasound (HIFU), magnetic resonance imaging (MRI)-guided focused ultrasound surgery (MRgFUS), radiofrequency ablation, cryomyolysis, myolysis, uterine artery embolization (UAE).
Uterine fibroid treatment devices offer women an effective and safe way to manage fibroids and reduce associated symptoms. However, the best treatment approach depends on each woman’s situation, which is determined in consultation with a healthcare provider. The specific type of device used depends on the size and location of the fibroids, as well as other factors such as the patient’s age and overall health.
The market report finds that the COVID-19 pandemic has impeded the market. The pandemic has affected almost every industry and the long-term effects are projected to impact the industry’s growth during the forecast period.
Artificial Intelligence Impact on Uterine Fibroid Treatment Devices Market
Artificial Intelligence technology is expected to fuel the uterine fibroid treatment devices market during the forecast period. AI helps ultra-sonographers improve the diagnostic performance of uterine fibroids. Ultrasonography is the imaging method that is used for the clinical diagnosis of uterine fibroids, due to the possesses high specificity and sensitivity.
Deep learning (DL), one of the key AI solutions, plays a substantial role in radiology, due to their powerful image feature extraction capabilities. DL algorithms for ultrasound image generation are increasingly gaining research support and attention, rapidly becoming the latest pioneers in ultrasound image generation. These factors are expected to play a key part in advancing the integration of AI in medical solutions designed for uterine fibroid treatments.
Uterine Fibroid Treatment Devices Market Dynamics
Major Drivers
Increasing non-invasive and minimally invasive surgeries for the treatment of uterine fibroids (UF) are driving the uterine fibroid treatment devices market. Several key players are investing in research & development (R&D) for innovative non-invasive and minimally surgical procedures.
According to the Centers for Diseases Control and Prevention (CDC), from 2006 to 2010, 11.7% of women between the ages of 40 and 44 had a hysterectomy. Approximately 600,000 hysterectomies are performed annually in the US, and approximately 20 million women in the US had a hysterectomy.
However, increasing population base for uterine fibroid patients, the sprouting number of hospitals & surgery centers, and the technological advancements by market players to develop novel uterine/endometrial ablation & laparoscopic devices are expected to drive the growth of the market.
Restraints
High-cost treatment, containment procedures implemented by several governments, and ongoing healthcare reforms in the U.S. are restraining the growth of the uterine fibroid treatment devices market. Uterine fibroid devices and procedures are expensive and the treatment cost is higher, which impacts the uterine fibroid treatment devices market. The high cost of these devices and procedures often leads to a limited demand, as it is a substantial financial burden for numerous patients, especially those without insurance coverage. This factor is likely to hinder the uterine fibroid treatment devices market.
Emerging Opportunities
Increasing market penetration of product manufacturers and high demand in rural areas from emerging markets is expected to create lucrative opportunities for the market players. Emerging economies such as India, China, Brazil, and Mexico are attractive destinations for companies engaged in the manufacturing, developing, and distribution of the market.
- In May 2021, Myovant Sciences and Pfizer received Food and Drug Organization (FDA) approval for MYFEMBREE, the first once-daily treatment for the management of heavy menstrual bleeding associated with uterine fibroids in premenopausal women, with a treatment duration of up to 24 months.
Scope of Uterine Fibroid Treatment Devices Report
The global market report includes research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes |
Details |
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Report Title |
Uterine Fibroid Treatment Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Technology (Surgical, Ablation, Laparoscopic, and Embolization), and Mode of Treatment (Minimally Invasive Treatment, Invasive Treatment, and Non-Invasive Treatment) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Medtronic; Stryker; Insightec; Boston Scientific Corporation; COOPERSURGICAL, INC.; Hologic, Inc.; Lumenis Be Ltd.; ADVANCED SURGICAL CONCEPTS; CONMED Corporation; Ethicon US, LLC.; Olympus Corporation; Minerva Surgical, Inc.; and PENTAX Medical |
Uterine Fibroid Treatment Devices Market Segment Insights
Technology Segment Analysis
Based on technology, the uterine fibroid treatment devices market is divided into surgical, ablation, laparoscopic, and embolization. The surgical segment is expected to expand at a significant pace during the projection period, owing to an increase in the number of hysterectomy and myomectomy surgical procedures. These surgical procedures are most commonly performed procedures for women. The surgeon removes fibroids by using instruments inserted through the vagina and cervix into the uterus.
The ablation segment is anticipated to hold a key share of the market in the coming years. It is a minimally invasive procedure that uses heat to target fibroids and reduces them significantly. Patients enjoy less severe symptoms and a better quality of life, by lessening the fibroids. Endometrial ablation can be done in the doctor’s office without the use of anesthesia.
Mode of Treatment Segment Analysis
On the basis of mode of treatment, the market is segregated into minimally invasive treatment, invasive treatment, and non-invasive treatment. The invasive treatment segment is projected to register a considerable CAGR during the forecast period, due to the increasing cases of uterine fibroids and related symptoms in women all over the world.
As abdominal myomectomy and hysterectomy are standard procedures for the treatment and achieved a wide range of acceptance owing to their low cost. However, these factors are expected to increase the demand for invasive treatment in the market.
Regional Analysis
In terms of region, the global uterine fibroid treatment devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, due to the increasing government initiatives, rising hysterectomy-related surgical procedures, and the presence of well-established healthcare facilities in the region.
However, the ease of access to healthcare technologies and the presence of distribution channels are driving the market in the region.The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years, owing to the increasing healthcare awareness within the population in emerging countries such as India and China.
Factors such as unmet needs regarding fibroids diagnosis & treatment and the presence of a large patient base are expected to drive the market in the region. However, an increase in the number of hospitalization and growing healthcare expenditure by the government are factors driving the market in the region.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Uterine Fibroid Treatment Devices Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Uterine Fibroid Treatment Devices Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Uterine Fibroid Treatment Devices Market - Supply Chain
4.5. Global Uterine Fibroid Treatment Devices Market Forecast
4.5.1. Uterine Fibroid Treatment Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Uterine Fibroid Treatment Devices Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Uterine Fibroid Treatment Devices Market Absolute $ Opportunity
5. Global Uterine Fibroid Treatment Devices Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Uterine Fibroid Treatment Devices Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Uterine Fibroid Treatment Devices Demand Share Forecast, 2019-2026
6. North America Uterine Fibroid Treatment Devices Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Uterine Fibroid Treatment Devices Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Uterine Fibroid Treatment Devices Demand Share Forecast, 2019-2026
7. Latin America Uterine Fibroid Treatment Devices Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Uterine Fibroid Treatment Devices Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Uterine Fibroid Treatment Devices Demand Share Forecast, 2019-2026
8. Europe Uterine Fibroid Treatment Devices Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Uterine Fibroid Treatment Devices Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Uterine Fibroid Treatment Devices Demand Share Forecast, 2019-2026
9. Asia Pacific Uterine Fibroid Treatment Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Uterine Fibroid Treatment Devices Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Uterine Fibroid Treatment Devices Demand Share Forecast, 2019-2026
10. Middle East & Africa Uterine Fibroid Treatment Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Uterine Fibroid Treatment Devices Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Uterine Fibroid Treatment Devices Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Uterine Fibroid Treatment Devices Market: Market Share Analysis
11.2. Uterine Fibroid Treatment Devices Distributors and Customers
11.3. Uterine Fibroid Treatment Devices Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Medtronic
11.4.2. Stryker
11.4.3. Insightec
11.4.4. Boston Scientific Corporation
11.4.5. COOPERSURGICAL, INC.
11.4.6. Hologic, Inc.
11.4.7. Lumenis Be Ltd.
11.4.8. ADVANCED SURGICAL CONCEPTS
11.4.9. CONMED Corporation
11.4.10. Ethicon US, LLC.
11.4.11. Olympus Corporation
11.4.12. Minerva Surgical, Inc.
11.4.13. PENTAX Medical