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Friday, 23 December 2016
U.S. Uterine Fibroid Treatment Market to be worth US$273.6 mn by the end of 2024
U.S. Uterine Fibroids Market: Snapshot
The high prevalence of uterine fibroids across the U.S. has created a significant demand for uterine fibroid treatments across the countries. The growing public concern about the occurrence of uterine fibroids, which are also called uterine leiomyoma, have propelled the demand for treatments and solutions to alleviate the pain, excessive bleeding, and pelvic discomfort.
According to the report by Transparency Market Research, the U.S. uterine fibroid treatment market is anticipated to be worth US$273.6 mn in 2024 as compared to US$211.6 mn in 2015. Analysts anticipate that the overall market will expand at CAGR of 2.9% from 2016 to 2024.
Rising Prevalence of Uterine Fibroids amongst Younger Women Drives Market
These fibroids are non-cancerous tumors and are generally seen amongst women who are in the reproductive age. There are 20%-40% chances of women in developing uterine fibroids during their reproductive ages. These fibroids can swell up to cause pain and make the body look like it is pregnant. Unfortunately, there are no symptoms that indicate the formation of fibroids, which makes it difficult to prevent them from happening. The U.S. Department of Health and Human Services Office on Women’s Health states that around 30% of the women population around the age 35 suffer from uterine fibroids, while the chances come to 20%-80% by the time women reach the age of 50. The prevalence of uterine fibroids is comparatively higher amongst the African American women who are known to develop these fibroids at a younger age that most of the other women.
The U.S. uterine fibroids market offer a wide array of treatments for uterine fibroids. In most of the cases, medical therapy is used for shrinking the fibroids much before performing a surgical procedure. Drugs that shrink fibroids include gonadotropin-releasing hormones, which often result in menopause-like symptoms are widely available in the market. Drugs that designed to block the hormone progesterone can often slowdown the growth of fibroids. Several healthcare professionals also prescribe over-the-counter medications to contain the pain and bleeding.
Hysterectomy Gains Preference over Others
Of the various procedures used for treating uterine fibroids, hysterectomy is the most popular one. The hysterectomy segment is further divided into abdominal hysterectomy, laparoscopic hysterectomy, vaginal hysterectomy, robotic hysterectomy, and hysteroscopic morcellation. Analysts anticipate that hysterectomy is expected to be the major segment in the country and the leading revenue generator. The procedure removes the uterus to tackle the symptoms such as chronic pelvic pain, disrupted lifestyle, and uncontrollable menstrual bleeding. The American Congress of Obstetricians and Gynecologists states that about 600,000 hysterectomy procedures are performed each year. Of these surgeries, one in every third case is due indications of fibroids. However, the growth of this segment is being challenged due to the introduction of several alternatives to the life-altering procedure.
The end users of uterine fibroids treatments are hospitals and ambulatory surgical centers. Out of these, the hospitals segment is leading the U.S. market as it is well-equipped to handle emergencies and complicated matters pertaining to uterine fibroids. The growing concerns about uterine fibroids, physical morbidity, poor quality of life, rising disposable incomes, and well-established healthcare infrastructure are contributing towards the rise of the U.S. uterine fibroids market in the coming years.
Some of the important players operating in the U.S. uterine fibroids market are Blue Endo, Richard Wolf Medical Instruments, Cooper Surgical, Halt Medical, Inc, LiNA Medical USA, Karl Storz, Merit Medical Systems, Richard Wolf GmbH, Olympus Corporation, Halt Medical, Inc., and Boston Scientific Corporation.
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