SAN FRANCISCO, May 11, 2021 /PRNewswire/ -- The global laparoscopic power morcellators market size is anticipated to reach USD 188.7 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.4% from 2021 to 2028. The increasing number of patients suffering from health issues such as uterine fibroids and endometriosis and the rising number of hysterectomy and myomectomy procedures is expected to drive the demand for laparoscopic power morcellators.
Key suggestions from the report:
Based on application, the hysterectomy segment dominated the market and accounted for the largest revenue share of 70.5% in 2020, owing to the increasing number of surgeries to treat uterine fibroid. For instance, in the U.S. every year, around 600,000 women go for a hysterectomy to get relief from troubling fibroid symptoms
North America dominated the market and accounted for the largest revenue share of 52.8% in 2020 owing to increasing fibroids related surgical procedures/hospital visits as well as the availability of the latest treatment procedures in the region
In the Asia Pacific, the market is expected to witness the highest CAGR over the forecast period owing to improving health spending and rising awareness regarding health among women in the region
The COVID-19 outbreak has led to the global implementation of strict measures to curb the spread, which has led to a drastic cancellation or halt of elective surgeries including hysterectomy and myomectomy procedures worldwide. During this time, a large number of medical device manufacturing facilities, global suppliers, and distributors have been adversely affected in several regions. However, with the abundance of postponed surgical procedures in the pipeline, the market is expected to rebound and grow significantly over the forecast period.
The prevalence of uterine fibroids in women is on the rise across the globe and this can lead to excessive menstrual bleeding, pelvic pain, infertility, and frequent urination. As per the U.S. National Institutes of Health (NIH), 20-25% of women of reproductive age have fibroids and by the age of 50, up to 80% of black women and up to 70% of white women have fibroids. Thus, the rising prevalence of uterine fibroids is increasing the demand for myomectomy and hysterectomy procedures, thereby contributing to market growth.
Moreover, growing patient preference for minimally invasive treatments is expected to strengthen the growth of the market. Larger fibroids can be removed through minor incisions by breaking them into pieces through a technique called morcellation, with the help of laparoscopic power morcellators. It is a less invasive procedure and causes less discomfort and post-operative pain. This is expected to boost the market growth at a significant rate during the forecast period.
Grand View Research has segmented the global laparoscopic power morcellators market on the basis of application and region:
Laparoscopic Power Morcellators Application Outlook (Revenue, USD Million, 2016 - 2028)
Laparoscopic Power Morcellators Regional Outlook (Revenue, USD Million, 2016 - 2028)
Middle East & Africa (MEA)
List of Key Players of Laparoscopic Power Morcellators Market
Laparoscopic Devices Market – The global laparoscopic devices market size is anticipated to reach USD 9.92 billion by 2026. Increasing number of bariatric surgeries being performed and adoption of minimally invasive procedures are anticipated to boost the market growth.
Myomectomy Market – The global myomectomy market size is anticipated to reach USD 1.1 billion by 2027. An increasing number of patients suffering from health issues such as uterine fibroids, endometriosis, and chronic pelvic pain are factors driving the market.
Medical Thermometer Market– The global medical thermometer market size is anticipated to reach USD 1.0 billion by 2027. An increase in the prevalence of viral diseases such as COVID-19, Influenza, Norovirus, and other medical conditions is driving the market.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.