The global myomectomy market comprises various products used to remove fibroid tumors from the uterus. Myomectomy procedures are commonly performed using minimally invasive techniques such as hysteroscopy, laparoscopy, and robotic surgery which provide advantages like reduced blood loss, lesser hospital stay, shorter recovery time, and improved cosmetic outcomes over open surgeries. Growing preference for minimally invasive treatments among patients and physicians driven by their clinical advantages over conventional open surgeries is fueling the demand for myomectomy products and procedures.
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 2024 to 2031.
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 energy devices and surgical instruments to perform minimally invasive myomectomy procedures.
Growing prevalence of uterine fibroids driven by changing lifestyle factors is a major factor driving for Myomectomy Market Demand procedures globally. According to WHO, uterine fibroids affect 20-40% of women during their reproductive years worldwide. Rapid advancements in minimally invasive techniques are further fueling the adoption of myomectomy.
Key players are expanding their geographic presence through strategic collaborations and acquisitions to strengthen their positions in emerging markets. For instance, in 2021, Minerva Surgical expanded its commercial footprint in Europe through a distribution agreement with Pajunk Medical Systems GmbH. Such initiatives are aiding the global expansion of the myomectomy market.
Market key trends
Robotic myomectomy is emerging as a key trend in the market. Robotic platforms like da Vinci Surgical System by Intuitive Surgical provide benefits like 3D HD magnification, improved ergonomics, tremor filtration and wristed instruments which allow for precise dissection and suturing. This results in reduced blood loss, less post-operative pain and quicker recovery when compared to conventional laparoscopy. Rising robotic surgery adoption driven by clinical and economic benefits is expected to drive the demand for robotic myomectomy over the forecast period.
Porter’s Analysis
Threat of new entrants: New competitors entering the market face significant capital requirements for equipment and production facilities.
Bargaining power of buyers: Individual hospital systems represent a small portion of total sales and lack influence over pricing.
Bargaining power of suppliers: Large medical device manufacturer spossess significant bargaining power over specialized suppliers of materials.
Threat of new substitutes: Advanced minimally invasive treatments introduce alternatives for myomectomy procedures.
Competitive rivalry: Established players compete through innovation, clinical trials demonstration effectiveness of advanced technologies.
Geographical regions where the market is concentrated in terms of value include North America and Europe due to established healthcare systems and high disposable incomes supportive of advanced medical technologies. The Asia Pacific region is projected as the fastest growing for the global myomectomy market due to rising medical tourism, healthcare reforms, and expanding health insurance coverage in countries such as China and India supportive of greater procedure volumes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
