U.S. Uterine Fibroid Treatment Market, By Procedure Type (Endometrial Ablation, MRI Guided Procedures (MRI-guided Percutaneous Laser Ablation, and MRI-guided Transcutaneous Focused Ultrasound), Hysterectomy (Abdominal Hysterectomy, Vaginal Hysterectomy, Laparoscopic Hysterectomy, Robotic Hysterectomy, and Hysteroscopic Morcellation), Myomectomy (Open Myomectomy, Laparoscopic Myomectomy, and Robotic Myomectomy), Uterine Artery Embolization, Radiofrequency Ablation, and Others) and By End User (Hospitals and Ambulatory Surgical Centers) is estimated to be valued at US$ 269.4 Million in 2023 and is expected to exhibit a CAGR of 4.0% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting growth strategies such as product launch and partnerships, which will drive the U.S. uterine fibroids treatment market during the forecast period. For instance, in May 2021, Myovant Sciences, the healthcare company focused on redefining care for women's health and prostate cancer, and Pfizer Inc., a multinational pharmaceutical and biotechnology corporation, announced that the U.S. Food and Drug Administration (FDA) has approved MYFEMBREE (relugolix 40 mg, estradiol 1 mg, and norethindrone acetate 0.5 mg), the first once-daily treatment for the management of heavy menstrual bleeding associated with uterine fibroids in premenopausal women, with a treatment duration of up to 24 months. The approval is supported by efficacy and safety data from the Phase 3 LIBERTY 1 and LIBERTY 2 studies, which were published in the New England Journal of Medicine.
U.S. Uterine Fibroids Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the U.S. Uterine Fibroids Treatment Market. The COVID-19 pandemic resulted in the cancellation of all elective procedures. As a result, restrictions on access to elective therapies, imposed either to decrease virus cross-transmission or to prepare the hospital structure to aid infected patients, have forced women to live with discomfort and ineffective temporary treatments. For instance, in December 2021, according to a research paper titled analysis of response and effects impact of COVID-19 on gynecological surgery in major university hospitals, 1,545 gynecologic cases were done in 2020, compared to 942 cases in 2021, suggesting a 39.0% decline.
U.S. Uterine Fibroids Treatment Market: Key Developments
On October 23, 2022, Myovant Sciences, the healthcare company focused on redefining care for women's health and prostate cancer, announced that it had entered into a merger agreement with Sumitovant Biopharma Ltd. (Sumitovant), a technology-driven biopharma and Sumitomo Pharma Co., Ltd. (Sumitomo Pharma), a pharmaceutical company based in Japan under which Sumitovant has agreed to acquire the remaining shares of Myovant that Sumitovant does not currently hold. Subject to the terms and conditions set forth in the merger agreement, in the event the merger is consummated, holders of Myovant common shares will be entitled to receive $27.00 per share in cash.
In May 2020, AbbVie, Inc., a specialty biopharmaceutical company in cooperation with Neurocrine Biosciences, Inc., a biopharmaceutical company announced that the U.S. Food and Drug Administration (FDA) approved ORIAHNN (elagolix, estradiol, and norethindrone acetate capsules; elagolix capsules), with a treatment duration of up to 24 months. ORIAHNN is the first FDA-approved non-surgical, oral medication option for the management of heavy menstrual bleeding associated with uterine fibroids in pre-menopausal women.
Browse 30 Market Data Tables and 22 Figures spread through 170 Pages and in-depth TOC on “U.S. Uterine Fibroids Treatment Market”- Forecast to 2030, U.S. Uterine Fibroid Treatment Market, By Procedure Type (Endometrial Ablation, MRI Guided Procedures (MRI-guided Percutaneous Laser Ablation, and MRI-guided Transcutaneous Focused Ultrasound), Hysterectomy (Abdominal Hysterectomy, Vaginal Hysterectomy, Laparoscopic Hysterectomy, Robotic Hysterectomy, and Hysteroscopic Morcellation), Myomectomy (Open Myomectomy, Laparoscopic Myomectomy, and Robotic Myomectomy), Uterine Artery Embolization, Radiofrequency Ablation, and Others), By End User (Hospitals, and Ambulatory Surgical Centers)
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https://www.coherentmarketinsights.com/market-insight/us-uterine-fibroid-treatment-market-3866
Key Takeaways of the U.S. Uterine Fibroids Treatment Market:
- The U.S. uterine fibroids treatment market is expected to exhibit a CAGR of 4.0% during the forecast period. The collaboration with emerging economies offers lucrative growth opportunities for players in the U.S. uterine fibroids treatment market.
- Among End User, the Hospitals segment is expected to growth in the U.S. uterine fibroid treatment market over the forecast period. For instance, in September 2020, according to an article published in the Journal of the Society of Laparoscopic & Robotic Surgeons, in U.S a patient undergoing lapsroscopic hysterectomy experienced prolonged hospitalization, defined as greater than one day. After adjusting for covariates, robotic assisted total laparoscopic hysterectomy (aOR 3.13), dietary restrictions on postoperative day 1 (aOR 4.42), postoperative nausea or vomiting (aOR 2.01), and postoperative complications (aOR 3.58) were associated with prolonged hospitalization.
- Among Procedure Type, the Hysterectomy segment is expected to hold a dominant position in the U.S. uterine fibroids treament market during the forecast period and this is attributed due to the high incidence of uterine fibroids. For instance, in according to American Society of Anesthesiologists, One in three women in the U.S. have had a hysterectomy by age 60, and approximately 600,000 hysterectomies are performed annually in the U.S., and approximately 20 million U.S. women have had a hysterectomy.
- Major players operating in the U.S. uterine fibroids treatment market include Blue Endo, Boston Scientific Corporation or its affiliates, CooperSurgical, Inc., Karl Storz SE & Co. KG, Myovant Sciences GmbH (Sumitovant Biopharma Ltd.), Halt Medical, Inc. (Hologic, Inc.), LiNA Medical ApS, Merit Medical Systems, Olympus Corporation, and Richard Wolf GmbH.
