The global uterine fibroid treatment market is witnessing considerable growth due to increasing female geriatric population, increasing healthcare expenditure, increasing prevalence of obesity, launch of technologically advanced fibroid treatment products and growing popularity of minimally invasive treatments. Moreover, growing prevalence of hormonal disorders or hormonal imbalance leading to fibroid formation is supporting the growth of the market. The increasing adoption of uterine fibroid treatment across the globe, owing to increasing incidence of cancer is also driving the growth of the market.
The rapid growth in emerging economies and technological advancement in fibroid treatment with presence of minimally invasive treatment options is expected to create opportunities for the manufacturers of uterine fibroid treatment products. However, high cost of uterine fibroid treatment and presence of alternative treatment options are the key factors hampering the growth of the global market.
The increasing female aging population is propelling the growth of the global uterine fibroid treatment market. As reported by UN DESA (United Nation Department of Economic and Social Affairs) in the year 2013, the elder population is predominantly female. As women tend to live longer than men, while older women have outnumbered older men almost everywhere in the world. It further reported that in the year 2013, globally there were 85 men per 100 women in the age group 60 years or plus; and 61 men per 100 women in the age group 80 years or plus. The elderly population is more susceptible to gynecological problems, such as abnormal uterine bleeding, hormonal imbalance, and irregular menstrual cycle as compared to adults, which is fueling the demand of the global fibroid treatment market.
National Women’s Health Network in the year 2015 reported that fibroids generally appear in women in their 30s and 40s, and African-American women are two to three times more likely to develop fibroids than women of other races.
Geographically, North America has been the largest market for uterine fibroid treatment, owing to its increased awareness, established healthcare industry, and easy accessibility to advanced technologies due to the presence of high number of hospitals, clinics and ambulatory surgical centers in the region. The U.S. contributed largest revenue to the North American as well as global uterine fibroid treatment market. The increased patient pool undergoing hormonal disorders and increasing prevalence of uterine cancer is the key growth driving factor for the U.S. uterine fibroid treatment market.
Europe has been the second largest market for uterine fibroid treatment, where the market is driven by the presence of a large pool of uterine cancer patients, increasing healthcare expenditure and rapidly developing healthcare infrastructure. In 2015, Germany lead the European uterine fibroid treatment market and it is also expected to grow at the fastest rate in Europe, during the forecast period. Globally, the uterine fibroid treatment market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing prevalent cases with abnormal uterine bleeding, irregular menstrual cycle, increasing per capita income leading to improved standard of living, increasing healthcare spending, growing demand for better quality medical care, and awareness about uterine fibroid treatment in the region.
The key players operating in the global market are Boston Scientific Corporation, CooperSurgical, Inc., Karl Storz, Halt Medical, Inc., Merit Medical Systems, LiNA Medical USA, Olympus Corporation, and Richard Wolf GmbH.
