The report published by Transparency Market Research states that the U.S. uterine fibroid treatment market was valued at US$211.6 mn in 2015 and is expected to be worth US$273.6 mn by the end of 2024. During the forecast years of 2016 and 2024, the overall market is anticipated to progress at a CAGR of 2.9%.
The uterine fibroid treatment market is driven by growing number of hysterectomy surgeries every year in the country. Furthermore, the rising coverage of healthcare and increasing prevalence of non-cancerous tumors in women of childbearing age is expected to be the most vital reason for expansion of the uterine fibroids market growth. Now a days, fibroids are an important public health concern, due of the large number of women affected by the problem and the large number of hysterectomy procedure are done to treat the symptoms.
The National Institute of Health (NIH) conducts research on uterine fibroids, supports studies of fibroids at academic institutions, and sponsors interdisciplinary conferences where researchers share and discuss the results of their studies. Medical therapy is used for many women who have symptoms from fibroids and sometimes is used prior to surgery to shrink the fibroids. Commercially available drugs that shrink fibroids include gonadotropin-releasing hormones, which usually cause symptoms of menopause. Drugs that block the hormone progesterone can slow or stop the growth of fibroids. Some health care providers may use hormonal or over-the-counter medications to control pain and bleeding.
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U.S. Uterine Fibroids Market: Trends and Opportunities
According to the U.S. Department of Health and Human Services Office on Women’s Health, about 30 percent of all women will get them by age 35, and around 20-80 percent of women will do so by age 50. For some reason, African American women are more likely to experience fibroids, and to do so at a younger age. As women age, fibroid growth rates decline for most women, but not for African American women. Several treatment options are available now a days, which are driving the overall uterine fibroids market such as self-help techniques, drug therapy, uterine artery embolization and less invasive surgical procedures (myomectomy & hysterectomy).
The report is a combination of primary and secondary research. Primary research formed the bulk of our research efforts, with information collected from telephonic interviews and interactions via e-mail. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various national and international databases. The report provides market size in terms of US$ Mn for each segment for the period from 2016 to 2024, considering the macro and micro-environmental factors. Growth rates for each segment within the U.S uterine fibroids market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, vaccination expenditure, and regulatory requirements.
U.S. Uterine Fibroids Market: Drivers and Restraints
The market overview section of the report includes qualitative analysis of the overall uterine fibroids market including the determining factors and market dynamics such as drivers, restraints, market trends and opportunities, along with white space analysis. In addition, market attractiveness analysis by country and end-user along with competitive landscape by key players have been provided which explain the intensity of competition in the market. The competitive scenario between market players has been evaluated through market share analysis. These factors would help the market players take strategic decisions in order to strengthen their positions and increase their shares in the global market. Pricing analysis holds a crucial part of the report, which further describes the cost to end-user and cost to patient.
The market is driven by changing prevalence of cancerous tumors. The market is projected to grow due to increasing investment in healthcare sector. In terms of distribution channel segment orthopedic clinics is projected to expand at a high CAGR on the backdrop of growing investment healthcare during sports injuries. The hospitals and ambulatory surgical center segment are expected to expand at a significant CAGR over the forecast period.
Geographically, the U.S uterine fibroids market is showing a substantial growth due to increasing direct and indirect investments by the government and other private companies. Increasing investments and penetration by key market players globally are expected to drive the uterine fibroids market during the forecast period.
Key Players Mentioned in the Report are:
Key companies profiled in the report include Blue Endo, Richard Wolf Medical Instruments, Boston Scientific Corporation, Cooper Surgical, Halt Medical, Inc., Karl Storz, LiNA Medical USA, Merit Medical Systems, Olympus Corporation, Richard Wolf GmbH and Halt Medical, Inc.
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