GLOBAL MYOMECTOMY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global myomectomy market size is expected to reach US$ 1,600.9 Mn by 2031, from US$ 791.2 Mn in 2023, exhibiting a compound annual growth rate (CAGR) of 9.2% during the forecast period (2024-2031).

Myomectomy is a surgical procedure performed to remove fibroids, which are non-cancerous growths that develop in or on a woman's uterus. There are different types of myomectomies that can be performed depending on the number, size, and location of the fibroids.

Global Myomectomy Market- Regional Insights

• North America is expected to be the largest market for myomectomy during the forecast period, accounting for over 41.4% of the market share in 2023. North America continues to dominate the global myomectomy market due to advanced healthcare infrastructure and rising prevalence of uterine fibroids in the region. The U.S. accounts for the largest share due to presence of major players and availability of reimbursement for surgical procedures. Moreover, sedentary lifestyle and growing geriatric population have increased the risk of developing fibroids.
• Asia Pacific market is expected to be the second-largest market for myomectomy, accounting for over 32.5% of the market share in 2023. Asia Pacific is identified as the fastest growing market for myomectomy. Rapid economic development in countries such as China and India has improved access to healthcare facilities. There is a rising focus on women's health issues due to increasing awareness about disease management. This is prompting more women to opt for surgical intervention at early stages. China in particular is witnessing high demand since it has the largest population base suffering from fibroids globally. Both international and domestic medical device companies are actively exploring business opportunities in the country. They are introducing advanced laparoscopic instruments and expanding manufacturing plants to cater to the massive untapped market.
• Europe has promising market with a share of 20.1% during the forecast period. The myomectomy market in Europe is experiencing growth driven by rising awareness, advanced medical technologies, and an increasing prevalence of uterine fibroids among women. The demand for minimally invasive procedures, such as laparoscopic and robotic-assisted myomectomies, is on the rise, thereby contributing to market expansion. Technological innovations, coupled with favorable reimbursement policies, are fostering market development. Key players are actively engaged in product advancements and strategic collaborations to strengthen their market presence. A growing emphasis on women's health and a proactive approach to addressing reproductive health issues further fuel the myomectomy market's trajectory in Europe.

Analyst View:

Global myomectomy market is expected to grow at a steady pace over the forecast period driven by the rising cases of uterine fibroids among women. Increasing awareness about benefits of myomectomy over hysterectomy is also contributing to the growth. However, availability of alternate treatment methods like uterine artery embolization and MR-guided focused ultrasound surgery (MRgFUS) can restrain the market expansion to some extent.

The non-invasive nature and ability to preserve the uterus makes myomectomy is a preferred choice over hysterectomy especially for women who wish to retain their fertility. North America dominates the myomectomy market due to well-developed healthcare infrastructure and high awareness among population in the region.

Europe is anticipated to be the second most promising market due to supportive health reimbursement policies. Asia Pacific exhibits high potential for growth supported by rising healthcare expenditure, growing medical tourism, and increasing patient pool in developing nations like China and India.

Within Asia Pacific, China holds the highest number of projected myomectomy procedures due to huge population base and improving access to healthcare services. Availability of skilled gynecologists, continuous technological advancements in minimally invasive procedures, and increasing adoption of robotic assisted surgeries are some factors expected to present new avenues of growth for market players.

 Figure 1. Global Myomectomy Market Share (%), By Region, 2023

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Global Myomectomy Market- Drivers

• Rise in prevalence of uterine fibroids: Rise in prevalence of uterine fibroids is a key factor driving the growth of the myomectomy market. Uterine fibroids are non-cancerous tumors that grow in or on a woman's uterus. According to the data provided by the Office on Women's Health, U.S. Department of Health and Human Services, up to 70-80% of women will develop a uterine fibroid tumor by the time they reach the age of 50. Uterine fibroids can cause heavy bleeding leading to anemia, pain, and pressure or pain in the pelvis. Women experiencing such symptoms often seek treatment in the form of a myomectomy surgery. A myomectomy involves surgically removing the fibroids while keeping the uterus intact, thus allowing women to avoid a full hysterectomy. This surgery is generally opted for if the woman wishes to preserve her fertility. With the increasing prevalence of uterine fibroids amongst women, coupled with the desire to bear children, the demand for minimally invasive myomectomy procedures has increased significantly in recent years.
• Increasing geriatric population: Global geriatric population is growing rapidly and this has emerged as one of the key drivers for the growth of the myomectomy market. According to the data published by the United Nations, the number of people aged 65 years and above is projected to grow from 727 Mn in 2020 to 1.5 billion in 2050 globally. This increasing share of elderly population suffers more from various health issues and age-related diseases. Uterine fibroids are common non-cancerous tumors found in the womb or uterus that often occur in women during their childbearing years. However, the incidence of uterine fibroids is found to increase with age.
• Technological advancements in myomectomy procedures: Technological advancements are revolutionizing myomectomy procedures and driving significant growth in the myomectomy market. New procedures such as laparoscopic myomectomy and robotic myomectomy are allowing surgeons to perform complex surgeries through smaller incisions rather than through a large abdominal incision. This reduces post-operative recovery time for patients, minimizes scarring and blood loss, and lowers the risk of complications and infections.

Global Myomectomy Market- Opportunities

• Emerging economies: Emerging economies present a huge opportunity for growth in the myomectomy market. Countries like India, China, Brazil, Mexico, and others that are witnessing rapid economic development and rise in income levels. As incomes rise in these nations, access to healthcare and medical procedures is also improving. Many women in emerging nations who previously could not afford treatments are able to undergo myomectomy surgery. Growing middle class in emerging economies is willing to spend more on healthcare. They want access to modern medical facilities and world-class surgical treatments for managing diseases. Increasing healthcare expenditure and demand for quality care means more women will be able to opt for myomectomy as a treatment choice for uterine fibroids. This will significantly boost the procedure volume in the years to come.
• Adoption of robot-assisted myomectomy surgeries: Adoption of robot-assisted surgical systems for myomectomy procedures presents a significant growth opportunity for the myomectomy market. Robotic systems allow for minimally invasive surgery with advantages over traditional laparoscopic or open surgeries. With robotic tools, surgeons have improved vision, dexterity, and control during intricate procedures to remove uterine fibroids. The robotic platform enables smaller incisions, less pain, quicker recovery times and shorter hospital stays for patients as compared to other surgical methods. As women increasingly seek minimally invasive options for myomectomy, robotics is gaining acceptance among medical professionals and patients.

Global Myomectomy Market- Trends

• Increasing popularity of minimally invasive procedures: Increasing popularity of minimally invasive surgeries is greatly influencing the myomectomy market. With advancements in laparoscopic and robotic technologies, surgeons have vastly improved surgical tools that allow for more refined and precise procedures through smaller incisions. This dramatic shift away from traditional "open" or abdominal myomectomies towards techniques like laparoscopic myomectomy has sizable benefits for both patients and providers. For patients, minimally invasive options mean less post-operative pain, fewer surgical complications, shorter hospital stays, and quicker recovery times back to normal activities. Smaller incisions reduce risks of infections, scarring, adhesions and blood loss as compared to traditional "open" surgeries. This leads to an improved patient experience and satisfaction with the procedure. For providers, the precision and control afforded by instruments like the Da Vinci surgical robot, a robotic surgical system that uses a minimally invasive surgical approach, enable nearly scarless surgery and maximized organ protection during removal of uterine fibroids. This helps produce superior outcomes for patients.
• Usage of advanced instruments and medical devices: The myomectomy market has witnessed significant developments in recent years as advanced surgical instruments and medical devices are becoming more commonly used during uterine fibroid removal procedures. Minimally invasive options such as laparoscopic myomectomy allow surgeons to access the uterus through small incisions rather than requiring large abdominal incisions. This has led to advantages for patients such as less blood loss, less pain, shorter hospital stays, and quicker recovery times as compared to open abdominal myomectomy surgeries. Increased accessibility and precision provided by laparoscopic devices has driven their rise in popularity among both doctors and women seeking fibroid treatments. Advancements in laparoscopic techniques and device technologies enable surgeons to remove even very large fibroids by using minimally invasive approaches. Newer bipolar and ultrasonic instruments provide more controlled cutting and coagulation of fibroid tissues compared to older tools. Robotic platforms also give surgeons improved visualization and dexterity when operating through small incisions. The U.S. FDA approval and clinical use of the da Vinci Surgical System and later models for hysterectomies and myomectomies has increased the number of robotic procedures performed in both outpatient hospital settings and freestanding ambulatory surgery centers.

Global Myomectomy Market - Restraints

• High cost of procedures: The high cost of myomectomy procedures is a major restraint hampering the growth of the myomectomy market globally. Myomectomy surgery which involves removing uterine fibroids surgically is an expensive procedure that makes it unaffordable for many women. The average total cost of myomectomy in the U.S. ranges between US$10,000 to US$30,000 without any complications. This does not include the additional costs that are associated with anesthesia, operating room facilities, and any unintended follow up procedures in case of complications. Such a hefty financial burden deters many patients from opting for this treatment solution. Many developing nations and certain communities within developed countries have limited or no medical insurance coverage pushing the full costs to be borne by the patients themselves. According to the data released by the World Bank in 2020, nearly half of the world's population still lacks access to essential health services due to high OOP (out-of-pocket) expenditures. This disproportionately impacts women as uterine fibroids are a predominantly female health issue. Lack of affordability means that in many low and middle-income countries, a large proportion of women suffer silently without seeking any medical help. This adversely impacts the potential demand and future growth prospects of the myomectomy market.
• Risk of recurrence of uterine fibroids post-surgery: Risk of recurrence of uterine fibroids post-surgery is one of the major factors restraining the growth of myomectomy market. Uterine fibroids are non-cancerous tumors that grow in or on a woman's uterus. Myomectomy is a surgical procedure performed to remove fibroids and preserve the uterus. However, there is a significant risk of fibroids reoccurring after the surgery. Various studies conducted by public health organizations show that the recurrence rate after myomectomy is relatively high. For example, according to a study published by the National Library of Medicine in 2022, a recurrence was noted in 35% of the patients within 3 years after undergoing myomectomy. Women who had multiple or large fibroids removed during the initial surgery were at a higher risk of recurrence. Another study conducted across several European countries by the World Health Organization and published in 2021 found that nearly 50% of women experienced a return of fibroids within 5 years of undergoing myomectomy.

Figure 2. Global Myomectomy Market Share (%), By Type, 2023

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Global Myomectomy Market- Recent Developments

Business Development Activities by the Market Players

• In October, 2021, Gynesonics, a women’s healthcare company focused on the development of minimally invasive solutions for symptomatic uterine fibroids, announced that Dr. John Thoppil is the first physician in the state of Texas to offer its Sonata treatment to women with symptomatic uterine fibroids as an office-based procedure at his River Place OB/GYN facility in Austin, U.S.
• In September, 2021, Gynesonics, a women’s healthcare company focused on the development of minimally invasive solutions for symptomatic uterine fibroids, announced the Food and Drug Administration (FDA) has given clearance of the Sonata® System 2.2 which provides important new benefits for facilities, physicians, and patients.
• In August 23, 2021, Hologic, Inc., a global leader in women’s health, announced that Anthem Blue Cross Blue Shield, the second largest health plan in the U.S., has updated its medical policy to cover aadiofrequency ablation (LAP-RFA), which includes the Acessa procedure (CPT Code 58674), for women suffering from uterine fibroids.

Top Companies in Global Myomectomy Market

• Medtronic
• Stryker Corporation
• CONMED Corporation
• CooperSurgical Inc.
• Ethicon, Inc.
• Hologic, Inc.
• Minerva Surgical, Inc.
• INSIGHTEC
• Karl Storz GmbH
• Intuitive Surgical
• Braun Melsungen AG

Definition: Myomectomy is a surgical procedure that is performed to remove uterine fibroids, which are noncancerous growths that develop in the muscular wall of the uterus. These fibroids can cause various symptoms such as pelvic pain, heavy menstrual bleeding, and fertility issues. Unlike a hysterectomy, which involves the removal of the entire uterus, myomectomy selectively targets and removes the fibroids while preserving the uterus. This makes myomectomy a suitable option for women who wish to retain their fertility or avoid the psychological and physiological effects of a complete uterus removal. The procedure can be performed through various techniques, including abdominal, laparoscopic, or hysteroscopic approaches, depending on the size, location, and number of fibroids. Myomectomy can alleviate symptoms and improve reproductive outcomes for women experiencing fibroid-related issues.