The U.S. Uterine Fibroids Market shows a strong presence of players. The top three players in the market are Boston Scientific Corporation, Smith & Nephew, and Hologic, Inc., who hold a share of nearly 50% in the overall market. The players are focused mergers and acquisitions to broaden their product portfolio and integration of knowledge base. To remain dominant players are anticipated to lay emphasis on product differentiation.
The report published by Transparency Market Research states that the U.S. uterine fibroid treatment market was valued at US$211.6 mn in 2015 and is expected to be worth US$273.6 mn by the end of 2024. During the forecast years of 2016 and 2024, the overall market is anticipated to progress at a CAGR of 2.9%.
Out of all the procedures, the hysterectomy segment is showing a promise of good growth rate in the near future. This segment is projected to account for a share of 79.6% by the end of 2016. The benefits of hysterectomy such as alleviation of pelvic pain, excessive menstrual bleeding, and physical morbidity are driving this segment. Furthermore, hospitals will emerge as the leading end users of uterine fibroid treatment options in the coming years. By the end of 2016, the hospitals segment is projected to account for a share of 67.1% in the market.
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The introduction of a minimally invasive surgeries to treat the excruciatingly painful uterine fibroids is expected boost the market’s growth in the coming years. “Advantages of such procedures such as minimal recovery time, reduced chances of infections, and shorter hospital stays are also encouraging patients and hospitals to choose these treatments,” states the lead author of this research report.
The market is also benefitting from the regulatory approvals being granted to newer types of treatment and surgeries. Thus, the introduction of newer technologies that offer efficient results is creating a positive influence on the U.S. uterine fibroids market. The remarkable changes in technology have also played their supportive part in the growth of the market over the past few years. For instance, Halt Medical, Inc. introduced Acessa Guidance System in 2016. This technology enhances the radiofrequency ablation and electromagnetic tracking technology to treat uterine myomas laparoscopically.