The global uterine fibroid treatment device market size is anticipated to reach USD 9.3 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.5% from 2020 to 2027. An increasing population of uterine fibroids patients and rising awareness initiatives related to fibroids diagnosis and treatment are driving the market.
Minimally invasive and non-invasive surgeries for the treatment of Uterine Fibroids (UF) are gaining popularity owing to the reduced risk associated with these procedures. Smaller incisions decrease post-operative pain and facilitate speedy recovery, thus leading to high adoption of these procedures and triggering the growth of R&D in this field. Many key players are investing in research and development for the launch of innovative minimally and non-invasive surgical instruments.
Furthermore, several awareness campaigns, new product launches, and incorporation of new technologies by market players are expected to fuel the market growth during the forecast period. For instance, companies such as Merit Medical are dedicated to spreading fibroid awareness as well as promoting a safe and effective alternative to surgery. They also provide Ask4UFE patient educational programs, such as infographics, brochures, monthly articles, and newsletters, based on uterine fibroids and the benefits of uterine fibroid embolization (UFE).
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Uterine Fibroid Treatment Device Market Report Highlights
• On the basis of technology, the surgical techniques segment dominated the overall market with a share of 33.9% in 2019 as this technique is the most preferred and proven permanent solution for uterine fibroids treatment
• Based on the mode of treatment, the invasive treatment segment dominated the overall market with a share of 44.0% in 2019. Since this procedure is considered a gold standard for the treatment of uterine fibroids as well as is widely performed by surgeons
• North America dominated the market with a revenue share of 58.2% in 2019 owing to the increasing prevalence of uterine fibroids in the region and the introduction of technologically advanced products by the major players.
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