Fibroadenoma Market Overview
The market for treatment of fibroadenomas is growing due to factors such as growing use of hormonal contraceptives which increases the chances of fibroadenomas, genetic predisposition, greater screening rates, growing awareness etc. Obesity also increases the chances of developing fibroadenoma Breast. The Fibroadenoma Market Size restraints are the non-life threatening nature of the fibroadenomas, the self-resolving nature of Fibroadenomas etc.
Market research future has a half cooked research report on global Fibroadenoma market. The global Fibroadenoma market is growing at a rate of 4.9 % and is expected show a similar trend during the forecast period.Fibroadenomas are benign tumours of the breast which are characterized by a mixture of stromal and epithelial tissue. Fibroadenomas develop from the milk producing glands to form a solid lump. Fibroadenomas are caused due to hormone imbalances and the symptoms are painless, firm, mobile lump in the breast of a woman. According to American Cancer Society, fibroadenomas are most common in young women in their 20s and 30s, although they can be found in women of any age. The growth of these tumours is faster during pregnancy while menopause, causes them to shrink.
However, against the backdrop of the worsening regulatory and reimbursement environment combined with the uncertainty of healthcare reforms will restrain and threaten the future market for high intensity focused ultrasound (HIFU). The U.S. food and drug administration (FDA) classifies medical devices into Class I, II, and III with regulatory control increasing from Class I to Class III, based on the need to provide reasonable assurance of its safety and effectiveness. In general, most Class I devices are exempted from premarket notification 510(k) while the situation gets more and more serious for Class II devices and most Class III devices which require premarket approval. Positive Mental Attitude (PMA) is very time and effort intensive process due to requirements of valid scientific evidence about the probable health benefits from the intended use of a device which must outweigh the probable risks. It also requires a reasonable evidence to assure that the device will significantly help a large portion of the target population. Thus regulatory uncertainty in the FDA approval process for HIFU will constrain the market.
Fibroadenoma Market Segmentation
The fibroadenoma market can be segmented on the basis of diagnosis, type, end user, and treatment.
On the basis of type, the market can be segmented into simple and complex fibroadenoma. The simple tumors are harmless and do not increase the cancer risk. The complex tumors contain components such as macrocysts which are large enough to see and feel without the help of a microscope. These complex tumors also contain calcium deposits referred to as calcifications. Complex fibroadenomas increase the risk of breast cancer to a large extent.
Based on diagnosis, the market has been segmented into biopsy, physical examination, ultrasound scan, mammogram, and others.
On the basis of treatment, the market can be segmented into drugs, high intensity focused ultrasound (HIFU), cryoablation, surgery, and others.
Based on end-users, the market can be segmented into diagnostic centers, hospitals and clinics, and others.
Fibroadenoma Market Regional Analysis
Europe holds the second position in the market due to rising awareness and high disposable incomes of patients. Innovations in this region are also expected to drive market growth during the forecast period. For instance, Theraclion, a French firm, devised EchoPulse focused ultrasound system for treating fibroadenomas and won the European CE Mark approval. This device uses ultrasound to detect and attack tumors in real time without the need for general anesthesia. Asia Pacific is expected to grow at a rapid growth rate in the coming years. It is likely to be led by China and India.
Regions covered in the fibroadenoma market are North America, Europe, Asia Pacific, and Middle East and Africa (MEA). In the North America market, the United States is considered to hold the maximum market share owing to attractive insurance schemes and higher budgetary expenditure for the healthcare sector. Adoption of new devices and technologies in the U.S. is also an important factor catapulting the North America market to the topmost position.
The MEA market is expected to witness a moderate growth owing to poor political and economic conditions and poor healthcare penetration.
Fibroadenoma Market Players
· IceCure Medical
· Alpinion Medical Systems Co., Ltd
· SonaCare Medical
· Torrent Pharmaceuticals Ltd
· Taj Pharmaceuticals Ltd.
· Novartis Pharmaceuticals Limited
· Torrent Pharmaceuticals Limited
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