Uterine Fibroid Market

The rising number of hysterectomies is driving the market growth

Market CAGR for uterine fibroid is driven by the rising number of hysterectomy surgical procedures. This method is the most popular and well-proven permanent treatment for uterine fibroids. As a result, the hysterectomy will likely grow as the number of related surgeries increases. For instance, in November 2020, as per the article issued in the Journal of Gynecologic Oncology, by the Centers for Disease Control and Prevention, approximately 600,000 hysterectomies are completed in the US every year.

For instance, in November 2022, as per the American College of Obstetricians and Gynecologists, around a third of all women will have a hysterectomy by age 60.

Moreover, an expansion in patients' preference for minimally and non-invasive fibroids surgeries is expected to boost market growth. Smaller incisions reduce post-operative pain and facilitate speedy recovery, thus showing to high adoption of these techniques. Several key participants are investing in R&D for the launch of creative minimally and non-invasive surgical instruments. For instance, the MR-guided Focused Ultrasound (MRgFUS) utilized for treating uterine fibroids is one of the incision techniques physicians widely recommend. The device delivers ultrasound beams in this technique, thus heating and withdrawing targeted tissue from the uterine cavity.

This is a non-invasive treatment with slight to no side consequences, and patients may return to regular activity within a few days. Thus, the growing demand for such techniques due to less chance of infection, minimal pain, efficacy, and speedy recovery compared to open surgeries is expected to boost the demand for the uterine fibroids market.

Additionally, an expansion in the number of cases of uterine fibroids-related disorders in developed and developing economies has driven the launch of technologically developed products in the market. For instance, Channel Medsystem's Cerene Cryotherapy device treats heavy bleeding. This device utilizes extreme cold to eliminate the lining of the uterus tissues to relieve heavy menstrual bleeding without providing general anesthesia. In addition, Insightec's MR-guided Focused Ultrasound (MRgFUS) is utilized to treat uterine fibroids. This incision-less procedure delivers ultrasound beams, thus heating and removing targeted tissue from the uterine.

The Global Uterine Fibroid Market Industry is anticipated to experience robust growth in the coming years. Projections indicate that the market will reach a valuation of 4.53 USD Billion in 2024, with an expected increase to 10.2 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 7.62% from 2025 to 2035. Various factors, including rising prevalence, advancements in treatment options, and increasing awareness, are contributing to this upward trend. As the market evolves, stakeholders are likely to explore new opportunities for innovation and expansion within the Global Uterine Fibroid Market Industry.

Government initiatives and funding aimed at women's health significantly impact the Global Uterine Fibroid Market Industry. Various health departments and organizations are allocating resources to research and develop new treatment options for uterine fibroids. This support fosters innovation and encourages collaboration between public and private sectors, leading to enhanced therapeutic solutions. Furthermore, public health campaigns aimed at educating women about uterine health contribute to increased diagnosis rates. As a result, the Global Uterine Fibroid Market Industry is poised for growth, with substantial investments likely to drive advancements in treatment and management strategies.

Innovations in treatment modalities for uterine fibroids significantly influence the Global Uterine Fibroid Market Industry. Recent developments include minimally invasive surgical techniques, such as laparoscopic myomectomy and uterine artery embolization, which offer patients reduced recovery times and lower complication rates. Additionally, the introduction of pharmacological therapies, including selective progesterone receptor modulators, has expanded treatment options. These advancements not only enhance patient outcomes but also contribute to the market's growth trajectory. As the industry evolves, the Global Uterine Fibroid Market Industry is expected to witness a compound annual growth rate of 7.62% from 2025 to 2035.

Growing awareness and educational initiatives regarding uterine fibroids play a crucial role in shaping the Global Uterine Fibroid Market Industry. Health organizations and advocacy groups are actively promoting knowledge about fibroids, their symptoms, and available treatments. This heightened awareness encourages women to seek timely medical intervention, leading to earlier diagnoses and improved management of the condition. Consequently, the demand for effective treatment solutions is likely to rise. The Global Uterine Fibroid Market Industry is expected to expand significantly, with projections indicating a market size of 10.2 USD Billion by 2035, driven by informed patient populations.

The increasing prevalence of uterine fibroids is a primary driver of the Global Uterine Fibroid Market Industry. Studies indicate that approximately 70 to 80 percent of women develop fibroids by the age of 50. This high incidence rate necessitates effective treatment options, thereby propelling market growth. As awareness regarding uterine health rises, more women seek medical advice, leading to increased diagnosis and treatment rates. The Global Uterine Fibroid Market Industry is projected to reach 4.53 USD Billion in 2024, reflecting the urgent need for innovative therapies and management strategies to address this widespread condition.

Demographic shifts and evolving lifestyle factors are influencing the Global Uterine Fibroid Market Industry. As urbanization increases, women are experiencing changes in reproductive patterns, such as delayed childbirth and lower fertility rates, which may contribute to the development of fibroids. Additionally, lifestyle factors, including diet and stress levels, are being recognized as potential contributors to fibroid growth. These trends necessitate a greater focus on uterine health, prompting women to seek medical advice and treatment options. Consequently, the Global Uterine Fibroid Market Industry is expected to grow in response to these demographic and lifestyle changes.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American uterine fibroid market will dominate this market. The rising prevalence of uterine fibroids, increasing pregnancy complications due to fibroids, and the approval of novel treatment options will boost the market growth in this region. Further, the US uterine fibroid market held the largest market share, and the Canadian uterine fibroid market was the fastest-growing market in the North American region.

Further, the prominent countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

June 2022:

 The U.S. Food and Drug Administration (FDA) has accepted for review a supplemental New Drug Application (sNDA) for MYFEMBREE (relugolix 40 mg, estradiol 1 mg, and norethydrone acetate 0.5 mg) submitted by Myovant Sciences and Pfizer Inc. in June 2022. The sNDA proposes modifications to the United States Prescribing Information (USPI) for MYFEMBREE based on safety and efficacy data from the Phase 3 LIBERTY randomized withdrawal study (RWS) of MYFEMBREE in premenopausal women with excessive menstrual hemorrhage associated with uterine fibroids for up to two years.

Figure 2 UTERINE FIBROID MARKET SHARE BY REGION 2023 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's uterine fibroid market accounts for the second-largest market share due to the existence of well-established healthcare facilities in the region, increased government initiatives, and an increase in hysterectomy-related surgical procedures/hospital visits drive the market in this region. Further, the German uterine fibroid market held the largest market share, and the UK uterine fibroid market was the fastest-growing market in the European region.

The Asia-Pacific uterine fibroid market is expected to grow at the fastest CAGR from 2024 to 2032. This is owing to growing awareness about the availability of novel treatment options, and the increasing adoption of minimally invasive surgeries will boost market growth in this region. Moreover, China’s uterine fibroid market held the largest market share, and the Indian uterine fibroid market was the fastest-growing market in the Asia-Pacific region.

Leading market participants are investing heavily in research and development to extend their product lines, which will allow the uterine fibroid market to grow even more. Market participants are also undertaking different strategic activities to extend their  footprint, with important market developments including contractual agreements, mergers and acquisitions, new product launches, higher investments, and collaboration with other firms. To extend and survive in a more competitive and growing market climate, the uterine fibroid industry must deliver cost-effective items.

Manufacturing locally to decrease operational costs is one of the major business tactics manufacturers utilize in the  uterine fibroid industry to benefit clients and increase the market sector. Major players in the uterine fibroid market, including GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, Pfizer Inc, Novartis AG, Bristol-Myers Squibb Company, and others, are attempting to enhance market demand by investing in research and development operations.

Pfizer Inc discovers, develops, manufactures, and commercializes biopharmaceuticals. The firm offers products to treat numerous conditions such as cardiovascular, women's health, cancer, inflammation, metabolic and pain, immune disorders, and rare diseases. It also delivers biosimilars, sterile injectable pharmaceuticals, active pharmaceutical ingredients and contract manufacturing services. Pfizer markets its products through wholesalers, retailers, hospitals, individual provider offices, clinics, government agencies and pharmacies. It has major manufacturing facilities worldwide. In February 2021, Pfizer and Myovant released favorable results from the Phase III LIBERTY 1 and LIBERTY 2 investigations.

In women with uterine fibroids, the companies are testing a once-daily combination therapy of relugolix plus estradiol and norethindrone acetate.

Olympus Corp is a firm that produces precise machinery and tools for optics and digital technology. The firm develops, manufactures and commercializes equipment and devices for medical, imaging, information, healthcare, and other industrial markets. It delivers medical systems, such as endotherapy devices, endoscopes and endoscopy products to support healthcare professionals in treating patients, and scientific solutions, such as laser scanning microscopes, industrial and biological microscope systems, remote visual inspection products and non-destructive testing systems. It also delivers biomedical materials and system development services.

In November 2022, Olympus Corporation, a  technology in developing and providing creative solutions for medical and surgical techniques, announced the market establish of the resolution Power Morcellator, which is manufactured by TROKAMED GmbH and is available in the U.S. via a distribution agreement with Olympus America, Inc. The resolution Morcellator is designed for advanced gynecologic procedures with large, calcified tissue specimens.