The global uterine fibroid treatment market is projected to be USD 6,714.4 million by 2030 growing at a CAGR of 10.1% during the forecast period. This development can be credited to the increasing patient pool with uterine fibroids, the rising female elderly populace, the rising occurrence of hormonal circumstances among females, and altering lifestyles.
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There has been a substantial rise in the occurrence of uterine fibroids among females worldwide in the past few years, particularly in their late 40s and early 50s. For example, according to a recent study in November 2022, an estimated occurrence of uterine fibroids is between 20% and 77%, and a projected occurrence is approximately 40–60% amongst females under the age of 35 years and 70–80% among females more than the age of 50 years.
In 2022, based on uterine fibroid types, the intramural fibroids category had the largest industry share, of 60%. This growth can be credited to the growing incidence of intramural fibroids among females worldwide. Generally, this kind of fibroid can advance in the posterior, anterior, or fundal position, and appears to remain small in size as compared to other kinds of fibroids, although it can grow in large size. Additionally, the intramural fibroids do not usually swell outward or protrude into the uterine cavity and are entrenched in the muscular uterus wall. Thus, there is an increasing requirement for fast abdomen diagnosis.
The North American region dominated the uterine fibroid treatment market, with a revenue share of 40% in 2022. This growth can be credited to the recognized healthcare market in the U.S. and Canada, the growing cases of uterine fibroids, the convenient availability of the latest tech, and the growing patient footfall suffering from hormonal syndromes and uterine cancers in the region. Moreover, government efforts, high repayment rates, and a surge in hysterectomies are further boosting the development of the industry for uterine fibroid treatment.
Furthermore, the market growth in this region has been stimulated by established players such as Stryker Corp., Medtronic plc, Pfizer Inc., and Cooper Companies Inc., with their technological progress and novel treatments to treat uterus fibroids.
Hence, the increasing patient pool with uterine fibroids, the rising female elderly populace, the rising occurrence of hormonal circumstances among females, and altering lifestyles are the major factors driving the industry.
