Market Scenario
Market Research Future (MRFR) speculates that the U.S. uterine fibroid market is likely to garner USD 39,993.2 million, grabbing a CAGR of 3.24% during the forecast period (2016-2022). The surging prevalence of uterine fibroid in the African-American race is considered a propelling factor to the growth of the market. Uterine fibroids can be referred to as the abnormal growth which generally develops inside or on the wall of the uterus of a woman. Also termed as myomas or leiomyoma, uterine fibroids are non-cancerous growth which causes symptoms like pain in the pelvis and lower back, heavy bleeding during or between the menstrual cycle, and increased menstrual cramps along with the enlargement of the abdomen.
Market Potential and Pitfalls
Uterine fibroids are spreading over the entire U.S. at a rapid pace mainly due to the increased prevalence of uterine fibroids in the African-American race. The high blood pressure, the heredity of uterine fibroids, and low levels of vitamin D are considered some of the top factors causing uterine fibroids. The U.S. uterine fibroid market is anticipated to touch high growth figures in the long run mainly due to the surging prevalence of uterine fibroids and the rising number of hysterectomy surgeries every year. Several treatment options available such as pharmacotherapy, self-help techniques, invasive surgical procedures, and uterine artery embolization are propelling the market growth in the U.S.
The introduction of minimally invasive surgeries such as myomectomy and hysterectomy for treating the excruciating pain of uterine fibroids is expected to encourage the market growth. Such surgeries have reduced the chances of infection, reduced the hospital stay, and, lowered the recovery time, thereby contributing to the growth. Moreover, the advancing technology coupled with the increased activities on research and development is some of the top factors predicted to accelerate the market growth during the review period.
On the contrary, it has also been observed that the procedures such as myomectomy and hysterectomy are covering the uterine Fibroid treatment despite the side effects associated with it. This has resulted in limited treatment options for uterine fibroids. Moreover, the high cost-containment measures undertaken by governments along with the ongoing healthcare reforms are restricting the market growth in the U.S.
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U.S. Uterine Fibroid Market: Segmental Analysis
The U.S. uterine fibroid market has been segmented on the basis of type, diagnosis, and treatment.
By mode of type, the U.S. uterine fibroid market has been segmented into intramural fibroids, subserosal fibroids, submucosal fibroids, and others.
By mode of diagnosis, the U.S. uterine fibroid market has been segmented into computed tomography (CT), medical resonance imaging (MRI) scanners, ultrasounds, and others.
By mode of treatment, the U.S. uterine fibroid market has been segmented into magnetic resonance-guided focused ultrasound, uterine fibroid embolization, endometrial ablation, myolysis, hysterectomy, and myomectomy. Among these, hysterectomy and myomectomy are minimally invasive surgeries which are likely to gain prominence in the long run. These surgeries being minimally invasive, reduces the chances of infection after surgery, shorter hospital stays, and minimal recovery time. These advantages of hysterectomy and myomectomy are likely to contribute to the segment’s growth.
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Regional Insights
The U.S. uterine fibroid market is expanding at a steady pace with a CAGR of 3.24% by the end of 2022. Economies like Texas, California, New York, and Florida are estimated to witness the highest prevalence of uterine fibroids. North America has been recorded to witness the largest market share due to the increased awareness among the population of the region, easy accessibility to advanced technologies, and an established healthcare sector. The presence of a high number of clinics and ambulatory surgical centers and hospitals in this region has further contributed to the market’s growth. A huge number of people are undergoing hormonal disorders which are further encouraging the market growth. Moreover, the increased incidences of uterine cancer is another propelling factor.
Industry Updates
April 19, 2019: A new treatment for uterine fibroids offered by Gynecologist Dr. Jessica Shepherd has ensured women to reduce the symptoms of the disease and have the option for a baby. The minimally invasive procedure termed laparoscopic radiofrequency ablation has been proven to shrink the fibroids by 40% and also reduce the bleeding during periods.
Competitive Dashboard
The prominent players operating the U.S. uterine fibroids market comprises Cook Medical Inc. (US), AstraZeneca (England), GE Healthcare (U.K.), Boston Scientific Corporation (US), Hologic (U.S.), AbbVie Inc. (U.S.), and others.
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