by The uterine fibroids treatment drugs market has been witnessing significant growth owing to the rising prevalence of uterine fibroids across the globe. Uterine fibroids or leiomyomas are benign tumors that grow in or on the muscular walls of the uterus. Uterine fibroids treatment drugs help in reducing fibroid size and heavy bleeding associated with fibroids. Myomectomy and hysterectomy were conventionally used for fibroid treatment but now advancements in pharmacotherapy have led to the development of drugs with minimal side effects.
The Global uterine fibroids treatment drugs market is estimated to be valued at US$ 1.87 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Myovant Sciences, Pfizer, Bayer AG, AstraZeneca are the major players in the uterine fibroids treatment drugs market. Myovant Sciences launched relugolix in 2021 for uterine fibroids treatment.
Growing demand: Rising prevalence of uterine fibroids, availability of new Uterine Fibroids Treatment Drugs Market Size options with minimal side effects and lack of operative procedures during COVID-19 pandemic has boosted the demand for uterine fibroids drugs.
Global expansion: Key players are expanding their global footprint through collaborations and acquisitions to strengthen their market position and cater to the growing needs of patients across geographies.
Market Key Trends
Development of oral treatments: Oral treatments like relugolix, elagolix offer more convenient options compared to injectables with better patient compliance. Companies are developing novel oral treatments which will be a major trend.
Increased focus on combination therapies: Combination therapies using drugs having different mechanisms are being explored to achieve better treatment outcomes with lower dosage and diminished side effects.
Porter’s Analysis
Threat of new entrants: High costs of R&D, manufacturing and clinical trials restrict new companies from entering this market.
Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power due to their size and ability to switch between available treatment options.
Bargaining power of suppliers: Established drug manufacturers dominate the supply market giving them stronger bargaining power over raw material suppliers.
Threat of new substitutes: Alternate treatment options like myomectomy and hysterectomy pose threat of substitution.
Competitive rivalry: Strong competition exists among major established players aiming to gain market share through product innovation and comprehensive treatment solutions.
Geographical Regions
North America accounted for the largest share of the global uterine fibroids treatment drugs market in terms of value due to strong healthcare infrastructure, widespread awareness and high adoption of innovative treatment options.
Asia Pacific is expected to grow at the fastest rate during the forecast period owing to increasing healthcare expenditure, rising prevalence of uterine fibroids among women population and developing pharmaceutical industry in major countries like China and India.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
