The Global Myomectomy Market involves surgical procedures for removing uterine fibroids without removing the uterus. Myomectomy is one of the most common gynecological surgeries performed to treat symptomatic uterine fibroids. It helps relieve symptoms such as heavy bleeding, pain, and pressure or enlargement of the abdomen. The procedure is usually performed using minimally invasive techniques such as hysteroscopic, laparoscopic, and robotic myomectomy which offer benefits over open surgery such as less blood loss, shorter hospital stays, quicker recovery times, and smaller incisions.
The Global Myomectomy Market is estimated to be valued at US$ 791.2 MN in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period from 2024 to 2031.
The growing prevalence of uterine fibroids among women is a key factor contributing to the Myomectomy Market Growth. According to studies, over 70% of women experience uterine fibroids by the age of 50. Factors such as obesity, delayed childbearing, and past use of hormonal contraceptives increase the risk of developing fibroids.
Key Takeaways
Key players operating in the Global Myomectomy Market are Medtronic, Stryker Corporation, CONMED Corporation, CooperSurgical Inc., Ethicon, Inc., Hologic, Inc., Minerva Surgical, Inc., INSIGHTEC, Karl Storz GmbH, Intuitive Surgical, and B. Braun Melsungen AG. These players are focusing on developing advanced surgical technologies and robotic platforms for minimally invasive uterine fibroid removal procedures.
The growing demand for minimally invasive treatment alternatives for symptomatic uterine fibroids is positively impacting the market. Laparoscopic and robotic myomectomy procedures offer several advantages over open surgery and are becoming increasingly popular. This is increasing the demand for specialized devices and equipment required for minimally invasive procedures.
The rising awareness about uterine fibroid treatment options is driving the global expansion of the myomectomy market. Market players are focusing on emerging countries in Asia Pacific and Latin America through acquisitions and partnerships with local players. Population growth and economic development in these regions are expected to contribute significantly to the market in the coming years.
Market Drivers
The rising incidence of uterine fibroids due to lifestyle changes and delayed childbearing is a major market driver. Obesity and past usage of oral contraceptives increase the risk of developing uterine fibroids and have become more common globally. Furthermore, the growing awareness about treatment alternatives is encouraging more women to opt for minimally invasive procedures like myomectomy to relieve fibroid symptoms. This is contributing significantly to the growth of the global myomectomy market.
The current geopolitical uncertainy across the globe is impacting the growth of the global myomectomy market. Regional conflicts and economic turmoil in some parts of the world is affecting healthcare budgets and priorities of nations. This is slowing down investments in advanced medical procedures and technologies in those countries. However, developed nations are still witnessing steady growth in this market.
To sustain growth in the coming years, companies operating in this market need to closely monitor geopolitical changes across countries and devise suitable strategies. Expanding operations to relatively stable markets will help gain new customers and offset slower growth in disrupted regions. Partnerships with local players can also help penetrate new regions without major investments. Focusing R&D on low-cost treatment solutions suitable for price-sensitive markets will increase access to care.
Currently, North America accounts for the largest value share in the global myomectomy market due its advanced healthcare infrastructure and high healthcare spending. The availability of reimbursements for minimally invasive procedures along with technologically advanced medical facilities are driving high adoption of myomectomy in the region.
The Asia Pacific region is poised to witnessed fastest growth during the forecast period due to rising incidences of uterine fibroids and increasing medical tourism in low-cost destinations like India and Thailand. Growing medical capabilities, expanding healthcare infrastructure and increasing healthcare spending of regional giants like China and India are supporting market growth. Massive patient pool, rising awareness and improving access to care will continue driving the APAC myomectomy market in coming years.
The current geopolitical uncertainy across the globe is impacting the growth of the global myomectomy market. Regional conflicts and economic turmoil in some parts of the world is affecting healthcare budgets and priorities of nations. This is slowing down investments in advanced medical procedures and technologies in those countries. However, developed nations are still witnessing steady growth in this market.
To sustain growth in the coming years, companies operating in this market need to closely monitor geopolitical changes across countries and devise suitable strategies. Expanding operations to relatively stable markets will help gain new customers and offset slower growth in disrupted regions. Partnerships with local players can also help penetrate new regions without major investments. Focusing R&D on low-cost treatment solutions suitable for price-sensitive markets will increase access to care.
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Report MethodologyDelveInsight CapabilitiesDisclaimerAbout DelveInsight Request a Webex Demo to get a walk-through of the report: https://www.delveinsight.com/sample-request/non-small-cell-lung-cancer-marketRelated Reports:Non-Small Cell Lung Cancer Epidemiology Forecast to 2030Non-Small Cell Lung Cancer Global API Manufacturers, Marketed and Phase III Drugs Landscape, 2020Non-Small Cell Lung Cancer Pipeline Insights, 2020About DelveInsightDelveInsight is a premier Business Consulting and Market Research firm, focused exclusively on the life science segment.
