The uterine fibroid treatment market was USD 3,121.1 million in 2022, which will touch USD 6,714.4 million, advancing at a 10.1% compound annual growth rate, by 2030. The progression of this industry is because of the increasing count of patients with uterine fibroids, the rising incidence of hormonal conditions in females, and the mounting female elderly population.
In 2022, the intramural fibroids category, on the basis of type, was the largest contributor to the industry, with a share of 60%. This can be because of the rising incidence of intramural fibroids among female populations across the globe. Moreover, this kind of fibroid can typically grow in the posterior, fundal, or anterior position, and appears to be smaller in size than other kinds of fibroids, though it can also become larger.
The surgery category, based on treatment, is likely to advance at an 11% CAGR, during this decade. This will be because of the increased occurrences of fibroids producing severe or moderate symptoms, such as heavy bleeding and extreme pain. In 2022, the hospital category, on the basis of end user, is the largest contributor to the uterine fibroid treatment market, with a share of 60%. This will be primarily because of the existence of highly advanced infrastructure in hospitals.
Additionally, the existence of greater accessibility to new technologies in treating uterine fibroids across healthcare facilities will further boost the progression of this category, in the years to come. The ambulatory surgical centers category, on the other hand, will advance at a steady rate during this decade. This is because of the advancement of such healthcare centers and having access to more effective and faster technologies.
North America led the industry, with a 40% share, in 2022. This is because of the reputable healthcare sector in Canada and the U.S., the easy availability of novel technologies, and the surging occurrence of uterine fibroids in this region. In addition, the growth of the regional industry is also driven by the growing number of patients with hormonal disorders as well as uterine cancers in this continent.
APAC is likely to propel at the highest compound annual growth rate, of approximately 12%. This will be because of the rising widespread incidence of irregular uterine bleeding, irregular menstrual cycles among women, and increasing healthcare expenditures. Moreover, the rising per capita income resulting in better living standards, increasing need for better healthcare, and growing consciousness regarding uterine fibroid treatment are also boosting the regional industry.
With the rising healthcare spending and mounting female elderly populace, the uterine fibroid treatment industry will continue to progress in the coming years.
SOURCE: P&S Intelligence
