Global Uterine Fibroid Embolization Devices Market: Description
Uterine fibroid embolization (UFE) is a minimally invasive treatment used to treat fibroid tumors in the uterus. The uterine fibroid embolization procedure is also sometimes referred as a uterine artery embolization (UAE). UFE is also been used to treat other complications such as placenta accreta, placenta previa and arteriovenous malformations of the pelvis. Uterine fibroids are the most common benign tumor growths in the walls of the uterus (intramural fibroids), within the uterine cavity (sub mucosal fibroids) or on the serosal surface of uterus (subserosal fibroids). These fibroid tumors are also known as myomas and it is very rare for them to turn into cancerous tumors. The symptoms associated with these utreal fibroid tumors include heavy menstrual bleeding, pain in the back of legs, anemia, constipations, pain in the pelvic region, pressure on the bowel or bladder and other debilitating symptoms. Usually, uterine fibroids affect around 20% to 40% of women who are aged over 35 years.
The most common treatment options that are commercially available in the market for uterine fibroids include myomectomy (surgical removal of the fibroids) and hysterectomy (removal of entire uterus). The other treatment options that have shown moderate efficacy with some unwanted side effects in treating uterine fibroids include hormone therapy, myolysis (use of thermal energy to kill fibroid tissue), endometrial ablation and ultrasound therapy. In a typical UFE procedure, healthcare professionals use an x-ray camera known as fluoroscope to deliver the small particles to the uterus and fibroids. These small particles are injected through a flexible and thin tube called a catheter. Further, these block the arteries that provide blood flow, causing the fibroids to shrink. Approximately 90 percent of women with fibroids are experiencing relief of their symptoms with UFE procedure.
Global Uterine Fibroid Embolization Devices Market: Drivers and Restraints
The market for uterine fibroid embolization devices is expected to show a huge growth potential in near future. The contributing factors behind such an assessment include increasing number of patients seeking UFE treatment, growing demand for the minimally invasive surgical treatment options, rise in base of geriatric population and growing healthcare awareness among the patients. Additionally, high treatment efficacy of UFE procedure compared to other treatment options, with a low risk of complications are likely to boost the growth of this market in future.
Global Uterine Fibroid Embolization Devices Market: Geographical Dynamics
Geographically, the North America region accounts for the largest share in the UFE devices market. North America is followed by Europe. The dominance of North America is attributable to a rapidly aging population that can afford to spend on expensive treatments.
Moreover, the presence of leading market players has proven favorable to North America gaining a leading position in the market. Additionally, growing healthcare awareness among the population and rising number of uterine fibroid patients further driving the growth of this market.
However, the Asia-Pacific region is projected to report the fastest growth rate in this market the near future due to the high population in countries such as India and China. Greater awareness among patients will also create new growth opportunities. Additionally, a healthy medical tourism sector in countries such as India, Thailand, and Singapore and an overall rise in healthcare spending will back the growth of the Asian region. However, growth of this market might be hamstrung because of a lack proper reimbursement plans in developed countries.
Major players operating in this market include Boston Scientific Corporation, Merit Medical Systems, BioSphere Medical Inc., Hologic and Johnson & Johnson. Cook Medical, Ferring Pharmaceuticals, Conception Technologies, Smiths Medical and Smith & Nephew.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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