The myomectomy market size is expected to grow from US$ 681.67 million in 2022 to US$ 1,292.78 million by 2030; it is estimated to register a CAGR of 7.98% from 2022 to 2030.
Analyst’s Viewpoint
The myomectomy market analysis explains factors such as the increasing incidence of uterine fibroids and the growing demand for minimally invasive surgeries, which drive market growth. Furthermore, the adoption of robotic-assisted surgical technology in myomectomy is expected to introduce new market trends. However, the high cost of new medical devices and myomectomy procedures is expected to hamper the market growth.
Myomectomy is a surgical procedure that encompasses the removal of non-cancerous growth of tissue, known as uterine fibroids or uterine leiomyomas, that develop in the uterus. Myomectomy allows doctors to remove fibroids that cause symptoms while leaving the uterus intact. This means that a woman can continue to have menstrual periods and may choose to become pregnant.
Market Insights
Increasing Incidences of Uterine Fibroids (UFs) Drives Myomectomy Market
The global burden of UFs has increased in recent years, with a significant increase in incidence and disability-adjusted life years (DALYs) worldwide. According to an article published by Frontiers in November 2022, the estimated occurrence of UFs is between 20% and 77%, and the estimated prevalence is between 40% and 60% among women under the age of 35 and between 70% and 80% among women over the age of 50. In the same article, a study was conducted using statistics from the Global Burden of Disease Study (2019) to observe changes in UF prevalence over 30 years. The study concluded that 3,873,678 new cases of UFs were reported in 2019, representing a growth rate of 67.14% compared to the global incident cases from 1990 to 2019. In this duration, deaths and disability-adjusted life years of UFs worldwide increased by 0.17 and 60.18%, respectively.
Similarly, in an article published by PubMed in 2020, fibroids affect women mainly during their reproductive years, and ~70% of white women and more than 80% of women of African ancestry are diagnosed with fibroids during their lifetime.
This rising prevalence of UFs in women has increased the demand for myomectomy surgery to remove fibroids. For instance, according to a study, “Perioperative Myomectomy Outcomes Based on the Current Coding Rules,” published by the American College of Obstetricians & Gynecologists in July 2022, 8,363 myomectomy procedures were performed from 2014 to 2019, out of which 3,117 (37.3%) were conducted via minimally invasive surgery (MIS) while 5,246 (62.7%) were done through laparotomy. Of the MIS procedures, 2,080 (66.7%) were classified as smaller myomectomies and 1,037 (33.3%) as larger ones.
Market Trends
Launch of Advanced Surgical Technologies Emerge as a Future Trend in Myomectomy Market
Advanced surgical instruments, imaging technologies, and robots have made myomectomy procedures precise and less invasive. According to an article published in the Journal of Obstetrics and Gynecology Research in October 2021, a study including sixty-one women with symptomatic fibroids received robotic single-port myomectomy (RSPM) was performed to evaluate the procedure's feasibility. The study concluded that RSPM is a feasible surgical option for women with symptomatic fibroids. It is expected to increase indications of single-port myomectomy by solving ergonomic problems that come with single-port laparoscopic myomectomy.
These technological innovations offer patients shorter recovery times, less scarring, and reduced post-operative complications, leading to a rise in demand. Many companies and healthcare institutions provide advanced surgical procedures to fulfill the demand and gain market value. For instance, in August 2023, Apollo Adlux Hospitals in Kochi launched the 4th generation robotic-assisted surgery system, Da Vinci Xi. This installation is expected to improve clinical outcomes across multiple surgeries at the Departments of Gynecology, Surgical Gastroenterology, and Urology. As a result, more than 90% of patients can go home on the same day as their surgery, leading to a quick recovery period.
Similarly, in April 2023, St. Luke's Medical Center, a leading healthcare institution in the Philippines, announced using the Da Vinci Surgical System for gynecological procedures. With the adoption of robot-assisted surgical technologies, St. Luke's offers Robotic-assisted Laparoscopic Prostatectomy, Robotic-assisted Myomectomy, and Robotic-assisted Hysterectomy. Such a combination of technological advancements gives doctors more control and accuracy during surgery, making it a safe option for patients. Therefore, technological advancements are a standalone factor driving market growth during 2020-2030.
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Myomectomy Market: Strategic Insights
Myomectomy Market
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CAGR (2023 - 2031)
7.98%
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Market Size 2023
US$ 736.07 Million
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Market Size 2031
US$ 1,360.39 Million
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Medtronic
- Stryker Corporation
- CONMED Corporation
- CooperSurgical Inc.
- Ethicon, Inc.
- Hologic, Inc.
- Minerva Surgical, Inc.
- INSIGHTEC
- Karl Storz GmbH
- Intuitive Surgical
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Abdominal
- Laparoscopic
- Hysteroscopic
Product
- Laparoscopic Power Morcellators
- Harmonic Scalpel
- Hysteroscope
- Others
End Users
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
Geography
- North America
- Europe
- Asia Pacific
- South & Central America
- Middle East & Africa
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Myomectomy Market: Strategic Insights
-
CAGR (2023 - 2031)7.98% -
Market Size 2023
US$ 736.07 Million -
Market Size 2031
US$ 1,360.39 Million
Market Dynamics
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Medtronic
- Stryker Corporation
- CONMED Corporation
- CooperSurgical Inc.
- Ethicon, Inc.
- Hologic, Inc.
- Minerva Surgical, Inc.
- INSIGHTEC
- Karl Storz GmbH
- Intuitive Surgical
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type - Abdominal
- Laparoscopic
- Hysteroscopic
Product - Laparoscopic Power Morcellators
- Harmonic Scalpel
- Hysteroscope
- Others
End Users - Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
Geography - North America
- Europe
- Asia Pacific
- South & Central America
- Middle East & Africa
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Segmentation and Scope
The myomectomy market is segmented based ontype,product
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end-user, and geography. By type, the market is segmented into abdominal, laparoscopic, and hysteroscopic myomectomy. By product, the market is segmented into laparoscopic power morcellators, harmonic scalpels, hysteroscopes, and others.The myomectomy market, by the end user, is segmented into hospitals, specialty clinics, and ambulatory surgical centers. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Type-Based Insights
Based on type, the myomectomy market is segmented into abdominal, laparoscopic, and hysteroscopic myomectomy. The abdominal myomectomy segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030. The abdominal myomectomy segment held a significant share in the myomectomy market in 2022 owing to the rising number of patients with UFs undergoing abdominal myomectomy procedures for treatment. Abdominal myomectomy is the most commonly performed and widely preferred treatment for fibroids.
The laparoscopic myomectomy segment is expected to register the highest CAGR from 2022 to 2030. It provides a less invasive approach to myomectomy procedures, resulting in faster patient recovery than other methods. The surgeon removes the fibroids using small instruments inserted through a few small incisions. These benefits of laparoscopic myomectomy are expected to boost growth in this segment during the forecast period.
Product-Based Insights
The myomectomy market, by product, is segmented into laparoscopic power morcellators, harmonic scalpels, hysteroscopes, and others. The other segment held the largest market share in 2022, and the same segment is anticipated to grow fastest from 2022 to 2030. This is attributed to the benefits offered by these instruments, including their ability to facilitate less invasive surgeries, resulting in minimal bleeding without harming the reproductive organs.
End User-Based Insights
Based on end users, the myomectomy market is segmented into hospitals, specialty clinics, ambulatory surgical centers, and others. The hospitals segment held the largest market share in 2022. This can be attributed to the rising number of skilled physicians. Hospitals also have better facilities than other surgical centers to perform minimally invasive procedures.
Regional Analysis
Based on geography, the global myomectomy market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America. In 2022, the myomectomy market in North America held the largest global market share. The market in North America is segmented into the US, Canada, and Mexico. The US dominated the market in North America. This can be attributed to various factors, including the increasing number of patients experiencing uterine fibroid problems, the availability of high medical reimbursement facilities in the region, rising government initiatives, and an increase in myomectomies related to surgical procedures and hospital visits. According to the article published by the US Office on Women's Health in February 2019, Fibroids cause symptoms including pain, heavy bleeding, frequent urination, and rectal pressure and are common in women aged 40 to early 50s. ~20% to 80% of women are diagnosed with UFs by age 50.
Additionally, the presence of major companies such as CooperSurgical, Inc.; Medtronic; Stryker Corporation, and Intuitive Surgical, and the availability of technological innovations contribute to the region's market growth. Furthermore, the increasing government healthcare spending creates opportunities for further myomectomy market growth.
The Asia-Pacific region is anticipated to experience high growth during 2021 - 2030. This can be attributed to the increasing number of women suffering from uterine fibroids, greater awareness regarding disease diagnosis and treatment, and the rapid modernization of healthcare infrastructure.
Industry Developments and Future Opportunities:
- In November 2022, Olympus launched the Moresolution Power Morcellator in the U.S. The device is manufactured by TROKAMED GmbH and distributed by Olympus America, Inc. The Moresolution Morcellator is intended for advanced gynecologic procedures involving large, calcified tissue specimens and is a minimally invasive option for patients undergoing low-risk hysterectomy and myomectomy.
- In June 2022, UroViu Corp launched Hystero-V, a 12-Fr sized, single-use hysteroscope with a hydrophilic coating for gentle insertion and superior visualization for highly effective intrauterine examinations. It eliminates the need for reprocessing and offers ease-of-use, portability, and time-saving benefits for efficient and comfortable procedures.
- In April 2022, Ethicon Launched Enseal X1 Straight Jaw Tissue Sealer an advanced bipolar energy device featuring stronger sealing, and easy access to targeted tissue in multiple surgical procedures. It is indicated for use in open and laparoscopic general, gynecological, urologic, and ENT surgeries.
- In July 2021, Medtronic plc announced the completion of six gynecological (GYN) surgeries, including hysterectomies and myomectomies, by a team of doctors at Pacifica Salud Hospital in Panama City using the Hugo robotic-assisted surgery (RAS) system.
- In December 2020, Sysmex Corporation launched the Hinotori Surgical Robot System, a surgical robot unit, and the HF Series Instrument, a reusable active endotherapy device for medical institutions in Japan for urologic and gynecologic operations.
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 are some of the key companies operating in the myomectomy market. These leading players focus on expanding and diversifying their market presence and clientele, tapping business opportunities in the myomectomy market.
Myomectomy Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 736.07 Million |
| Market Size by 2031 | US$ 1,360.39 Million |
| Global CAGR (2023 - 2031) | 7.98% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Product, End Users, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
- Medtronic
- Stryker Corporation
- CONMED Corporation
- CooperSurgical Inc.
- Ethicon, Inc.
- Hologic, Inc.
- Minerva Surgical, Inc.
- INSIGHTEC
- Karl Storz GmbH
- Intuitive Surgical
- B. Braun Melsungen AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
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- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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