Myomectomy Market Size, Share & Trends Analysis Report By Type (Abdominal, Hysteroscopic, Laparoscopic), By Product (Laparoscopic Power Morcellators, Harmonic Scalpel, Laparoscopic Sealer), By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global myomectomy market size was valued at USD 555.1 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.1% from 2020 to 2027. The increasing number of patients suffering from uterine fibroids and associated conditions, the growing number of less invasive procedures, and the rising adoption of technologically advanced devices for safe and effective myomectomy procedures are the major factors expected to drive the market. Patients suffering from uterine fibroid problem represent a huge market growth for the market. A myomectomy is the most effective way to treat fibroids and simultaneously preserves the uterus. There are different ways to perform a myomectomy procedure depending on the size and location of the fibroids. As per NCBI, it is estimated that around 77.0% of women of childbearing age could have the uterine fibroids, and around 50 to 75% cases remain asymptomatic and often remain undiagnosed.

According to the NCBI study report, in the U.S. around 30,000 myomectomy procedures are performed annually for fibroids. Thus, the rising prevalence of uterine fibroids is increasing the demand for myomectomy procedures across the globe. The launch of technologically advanced products due to the increasing number of myomectomy procedures for uterine fibroids is likely to boost the market growth. Technological advancements such as introduction of laparoscopic or robotically assisted myomectomy procedures have shown incisionless surgery with no or minimal side effects for fibroids treatment. As compared to the open abdominal myomectomy surgery, with robotic myomectomy patient experience less blood loss with fewer complication rates, have a shorter hospital stay and returns to normal activities more quickly. Thus, the use of robots for myomectomy surgery and their several advantages over conventional laparoscopy (open surgery), have been widely accepted and incorporated in the field of reproductive surgery. Thus, key market players such as CONMED Corporation; Medtronic; Stryker Corporation; Johnson and Johnson Services, Inc.; Intuitive Surgical; and Minerva Surgical, Inc. are involved in extensive R&D exercises to develop advanced products and are making constant efforts for introducing technologically advanced products in the market. This is expected to drive the market over the forecast period.

Furthermore, an increase in the number of patient preference for non-invasive or minimally invasive treatment is expected to boost market growth during the forecast period. Recently, numerous minimal/non-invasive myomectomy techniques have been introduced into the market to destroy fibroids effectively and preserve the normal uterus for future pregnancy. Nowadays, less invasive treatments such as laparoscopic, or robotically-assisted myomectomy procedures using technologically advanced devices are the choice of treatment options among women.

These devices produce a high-energy wave, which heats and destroys small areas of fibroid tissue without any incision. Such procedures offer incisionless surgeries with no pain and blood loss and require no hospitalization and quicker recovery. In addition, this procedure also preserves the uterus, cervix, and ovaries, which are helpful for childbearing reproductive-age women. Such techniques are comforting the patients during the procedures, and thereby improving patient compliance. This is expected to boost the market growth.

In recent years, countries such as the U.S. and Canada have witnessed an increased number of myomectomy surgeries due to the rising number of patients suffering from uterine fibroids and related indications. In the U.S., uterine fibroids are the leading indication for myomectomy procedures. For instance, according to the Rochester Regional Health article, around 65,000 myomectomy procedures are performed every year in the U.S., and most of them are performed for uterine fibroids. Similarly, as per the Canadian Cancer Society, an estimated 7,400 Canadian women will be diagnosed with uterine cancer in 2020. Since uterine cancer supports the growth of fibroids; Myomectomy is required to perform such procedures. This is anticipated to boost market growth over the forecast period. Moreover, favorable reimbursement structure and well-established healthcare infrastructure in these countries is another major factor contributing to the growth of the myomectomy market.

Additionally, increased initiatives taken by the government and non-profit organizations for the treatment of fibroids are expected to boost market growth during the forecast period. Some of the notable programs are the Fibroids Project, White Dress Project, HealthyWomen.org, Fibroid and Fertility Coach and author, and Center for Innovative GYN Care. For instance, the Healthy Women Project's mission is to engage and educate on new, FDA-approved treatments and procedures. They have strong partnerships with both patients and health professional organizations and promote extended audiences with program and campaign offerings through social media. This is expected to positively impact market growth during the forecast period.

Type Insights

The abdominal myomectomy segment dominated the market with a revenue share of 39.4% in 2019. This is due to the increasing number of uterine fibroids patients, which, in turn, demands myomectomy procedures for the treatment. This procedure is also the most performed and widely preferred treatment for fibroids. Moreover, this technique is the proven permanent solution for uterine fibroids treatment, as this procedure is considered the standard of care for removing fibroids and preserving the uterus and provides patients the opportunity to remain fertile. Thus, an increasing number of myomectomy surgeries is expected to fuel market growth.

The laparoscopic myomectomy segment is expected to witness the highest CAGR of 9.3% over the forecast period. The technique offers less invasive procedures and faster patient recovery as compared to other myomectomy procedures. This procedure allows the surgeon to remove the fibroids by placing small instruments through several small incisions. Patients spend only a night in the hospital and it takes 2-4 weeks for their recovery at home. Thus, the benefits offered by this technique are expected to fuel segment growth during the forecast period.

Product Insights

Others segment dominated the market and accounted for a revenue share of 36.6% in 2019. The segment is expected to witness a CAGR of 9.5% over the forecast period. This is owing to the several benefits offered by this segment such as same-day procedure, less invasive treatment, and faster recovery. In addition, this procedure also preserves the uterus, cervix, and ovaries which are helpful for childbearing reproductive-age women. Thus, these factors are anticipated to increase the demand for myomectomy during the forecast period.

Furthermore, these products destroy small areas of fibroid tissue without any incision, unlike conventional surgeries that make use of large openings. These products help to stop or reduce heavy menstrual bleeding or other associated symptoms of uterine fibroids. Thus, such factors are expected to increase the demand for myomectomy procedures during the forecast period. This, in turn, expected to increase segment growth.

Regional Insights

North America dominated the market with a share of 53.1% in 2019. This is attributable to the increasing number of patients suffering from uterine fibroid problems, high medical reimbursement facilities in the region, rising government initiatives, and increasing myomectomy related surgical procedures/hospital visits. Furthermore, the availability of technologically advanced products and presence of major key players such as CooperSurgical, Inc.; Medtronic; Stryker Corporation; and Intuitive Surgical are also contributing towards market growth in the region. Moreover, increasing government healthcare spending creates opportunities for market growth. For instance, according to the National Health Expenditure Accounts (NHEA) 2018, healthcare expenditure in the U.S. increased by 4.6% and reached USD 3.6 trillion (USD 11,172 per person).

In Asia Pacific, the market is expected to witness the highest CAGR of 10.4% over the forecast period due to factors such as the rapidly increasing women population suffering from uterine fibroids, rise in awareness regarding disease diagnosis and treatment, modernization of healthcare infrastructure. Moreover,growing medical tourism industry in developing economies such as India, China, and Japan is likely to contribute towards market growth in the region. In addition, rising healthcare expenditure by the government and an increase in the number of hospitalization due to rising cases of uterine fibroids are a few other factors aiding growth in the region.

Key Companies & Market Share Insights

Key companies are stressing on Research and Development (R&D) to introduce technologically advanced products to stay ahead in the market. For instance, in October 2018, CooperSurgical Inc. announced the unveiling of the CooperGenomics PGTai technology platform- to utilize the power of Artificial Intelligence (AI), machine learning, and ERPeak endometrial receptivity test- to provide precisely and detection of the receptivity condition of a female's endometrium. This will be accessible in North America from November 2018 and internationally from January 2019. This is expected to increase market growth during the forecast period. Companies are involving into collaborations, acquisitions, and mergers, which aim to bolster their product portfolio, manufacturing capabilities, and provide competitive diversity. For instance, in October 2019, Ethicon, Inc. (part of Johnson & Johnson), and Olympus Corporation have signed an agreement in which Olympus will acquire all new business activities from Ethicon related to the VERSAPOINT Electrosurgery system. This system is indicated for the pathologies including intrauterine adhesions, myomas, polyps, uterine septa and can also be used to treat abnormal uterine bleeding by endometrial ablation. Some of the prominent players in the myomectomy market include:

• Medtronic

• Stryker Corporation

• CONMEDCorporation

• INSIGHTEC

• CooperSurgical Inc.

• Hologic, Inc.

• Intuitive Surgical

• Karl Storz

• B. Braun Melsungen AG

Myomectomy Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global myomectomy market report on the basis of type, product, and region:

• Myomectomy Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Abdominal Myomectomy

  • Hysteroscopic Myomectomy

  • Laparoscopic Myomectomy

• Myomectomy Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Laparoscopic Power Morcellators

  • Harmonic Scalpel

  • Laparoscopic Sealer

  • Others

• Myomectomy Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • The Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE