Uterine Fibroid Embolization Device Global Market Report 2024

The uterine fibroid embolization device market size has grown strongly in recent years. It will grow from $5.3 billion in 2023 to $5.62 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth observed in the historical period can be attributed to factors such as the increasing incidence of uterine fibroids, a preference for non-surgical alternatives, awareness and education initiatives, a focus on women's health, a shift towards outpatient procedures, and the implementation of physician training programs.

The uterine fibroid embolization device market size is expected to see steady growth in the next few years. It will grow to $6.75 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The anticipated growth in the forecast period can be attributed to factors such as increasing awareness of non-invasive treatments, the global expansion of healthcare services, a rise in female healthcare initiatives, integration with multidisciplinary care, and the expansion of outpatient services. Major trends expected in the forecast period include the increasing adoption of minimally invasive procedures, advancements in embolic agents, personalized treatment approaches, a focus on outpatient uterine fibroid embolization (UFE) procedures, integration of imaging technologies, and ongoing research on bioresorbable embolic agents.

The anticipated surge in demand for minimally invasive surgeries is set to drive the growth of the uterine fibroid embolization device market in the future. Minimally invasive surgeries involve approaches that utilize small incisions or natural body openings for accessing and treating internal structures or organs, minimizing trauma to the patient. Uterine fibroid embolization devices play a crucial role in facilitating minimally invasive surgeries to effectively treat uterine fibroids. These specialized devices are designed to reduce invasiveness by employing small incisions, thereby minimizing the impact on surrounding tissues. With an increasing preference for less invasive medical procedures, these devices contribute to improved patient outcomes. For example, Intuitive Surgical Inc. reported a significant increase in surgical procedures performed with Vinci surgical systems, reaching approximately 1,875,000 in 2022, reflecting an 18% rise compared to around 1,594,000 procedures in 2021. Thus, the growing demand for minimally invasive surgeries propels the uterine fibroid embolization device market's growth.

The growing aging population is also expected to contribute to the expansion of the uterine fibroid embolization devices market. The aging population, representing individuals aged 65 years and older, benefits from uterine fibroid embolization devices as a minimally invasive alternative to surgery for addressing symptomatic fibroids. This demographic experiences relief from symptoms such as excessive bleeding and pelvic pain through these devices. According to the World Health Organization's October 2022 report, the global population aged 60 years and older reached 1.4 billion in 2022, and by 2050, it is projected to double to 2.1 billion. Therefore, the increasing aging population acts as a driver for the uterine fibroid embolization devices market.

The high cost of medical devices is anticipated to pose challenges to the uterine fibroid embolization device market's growth. Elevated costs create barriers to accessing uterine fibroid embolization devices, particularly for individuals with limited financial resources. Healthcare providers and institutions may hesitate to invest in these expensive devices, impacting the overall adoption and implementation of uterine fibroid embolization procedures and limiting treatment options for patients. For instance, Heartland Medical Sales & Services, LLC reported in May 2022 that low-tier ultrasound machines ranged from $5,000 to $20,000. Thus, the high cost of medical devices serves as a restraint for the uterine fibroid embolization devices market.

Major companies in the uterine fibroid embolization device market are focusing on developing innovative products such as the TruClear system to address the growing demand for minimally invasive treatments for uterine fibroids, aiming to enhance safety and efficacy. The TruClear system, launched by Medtronic Private Limited in November 2022, is a mechanical hysteroscopic tissue removal system used for treating intrauterine abnormalities. It features a flexible catheter inserted through the cervix into the uterus, incorporating a spinning nitinol wire loop, continuous inflow and outflow, integrated suction, and high-definition imaging, contributing to the precision and safety of uterine fibroid treatment.

In October 2021, Hologic Inc. acquired Bolder Surgical LLC for $160 million, aiming to strengthen its presence in the women's health and surgical markets. This strategic acquisition provides Hologic access to Bolder Surgical's innovative technology, allowing the company to offer a more comprehensive range of products, including uterine fibroid embolization devices designed to minimize incisions.

Major companies operating in the uterine fibroid embolization device market report are Johnson and Johnson Pvt Ltd., Abbott Laboratories, Medtronic plc., Siemens Healthineers Ltd., Koninklijke Philips N.V., Stryker Corporation, Boston Scientific Corporation, GE HealthCare Technologies Inc., Olympus Corporation, Terumo Corporation, Smith and Nephew plc., Ethicon Inc., Hologic Inc., CooperSurgical Inc., Ferring B.V., Cook Medical Inc., Karl Storz GmbH, Merit Medical Systems, CONMED Corporation, Amsino International Inc., Lumenis Ltd., Richard Wolf GmbH, BTG International Ltd., Healthium MedTech Pvt. Ltd., INSIGHTEC Ltd., Hironic Co.Ltd., Minerva Surgical Inc., Gynesonics Inc., Advanced Surgical Concepts PLLC, Hitachi Medical Corporation.

North America was the largest region in the uterine fibroid embolization device market in 2023. The regions covered in the uterine fibroid embolization device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the uterine fibroid embolization device market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A uterine fibroid embolization device is a medical device used in the treatment of noncancerous tumors, specifically uterine fibroids, through a minimally invasive procedure. Uterine fibroids are benign growths in the uterus, and this device functions by restricting the blood supply to these fibroids, causing them to shrink and ultimately disappear.

The main types of technologies associated with uterine fibroid embolization devices include surgical techniques, laparoscopic techniques, ablation techniques, and embolization techniques. Surgical techniques involve specific methods and procedures employed by medical professionals. These devices are utilized in various treatment modes, including invasive, minimally invasive, and non-invasive treatments. Additionally, they find application in diverse healthcare settings such as hospitals, clinics, and ambulatory surgical centers.

The uterine fibroid embolization device market research report is one of a series of new reports that provides uterine fibroid embolization device market statistics, including uterine fibroid embolization device industry global market size, regional shares, competitors with a uterine fibroid embolization device market share, detailed uterine fibroid embolization device market segments, market trends and opportunities, and any further data you may need to thrive in the uterine fibroid embolization device industry. This uterine fibroid embolization device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The uterine fibroid embolization device market consists of revenues earned by entities by provide services such as minimally invasive procedures, non-invasive procedures, minimally invasive procedures, radiofrequency ablation, medication and hormonal therapy, and embolization procedures. The market value includes the value of related goods sold by the service provider or included within the service offering. The uterine fibroid embolization device market also includes sales of medications, hysteroscopic devices, laparoscopic devices, radiofrequency ablation devices, endometrial ablation devices, hysterectomy devices, and robotic surgical systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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