The US uterine fibroid treatment market is expected to exhibit a healthy growth curve, as reported by Transparency Market Research (TMR). The market features a fragmented competitive landscape. Rivalry in the US uterine fibroid treatment market is projected to amplify with the entry of new players. Leading vendors in the US market for uterine fibroid devices have introduced fresh product launches and created fresh equipment and strategic acquisitions to guarantee a favorable development on this market. The presence of key players in the US acts as an impetus to market growth, offering lucrative opportunities to established as well as new players.
Companies are showing greater interest in R&D operations to implement sophisticated therapy which fulfills market needs. AstraZeneca signed an agreement for commercial rights in Zoladex (gozereline acetate) in the United States and Canada with TerSera Therapeutics LLC (TerSera) in Feb 2017.
According to TMR’s projections, the US uterine fibroid treatment market is anticipated to register a 2.90% CAGR over the forecast period from 2016 to 2024. The market was evaluated to be worth US$211.6 mn in 2015, and is projected to reach US$273.6 mn by 2024, the end of the forecast tenure.
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Aging Female Population Boosts US Uterine Fibroid Treatment Market
In 2015, the National Women’s Health Network revealed that women with fibroids in their 30s or 40s usually have a two to three times higher chance of developing fibroids than females of other races. The elderly population in 2013 was predominantly female, according to UN DESA (United Nation Department of Economic and Social Affairs). Since females are more likely than males, elderly females almost everywhere in the globe have more elderly people.
It has also been recorded that in 2013, 85 males per 100 women were aged 60 or older worldwide and 61 males per 100 women were aged 80 or older. The elderly population, which feeds worldwide fibroid therapy markets, are more vulnerable to gynecological issues such as unnatural uterine bleeding, hormone disequilibrium and irregular menstrual cycles than adolescents.
Adoption of Minimally Invasive Treatments to Propel Growth
Several types of treatment options are available in the market for uterine fibroids in the US. Technological advances such as the introduction of minimally invasive treatments such as hysterectomy, myomectomy, cryosurgery, MRI-guided ultrasound, uterine artery embolization, etc. Minimally invasive treatments help limit the growth of the uterine fibroid.
The launch of novel devices supporting minimal invasion in fibroid removal is further expected to boost the US uterine fibroid treatment market. In 2015, Sonablate 450 was approved by the FDA. This device specializes in ablation of prostatic tissue through trans-rectal ultrasound. In this way, the adoption of minimal invasion techniques is expected to bolster the US uterine fibroid treatment market in the coming years.
The growing demand for hospitals and the growing concentrate on training interventional gynecologists and radiologists to apply minimally invasive robotic procedures and the ablation of radio-frequencies are some of the main variables expected to accelerate the growth of the US uterine fibroids treatment market over the next few years.