Fibroadenoma Market Trends

Global Fibroadenoma Market Overview

Fibroadenoma Market size was valued at USD 0.71 billion in 2023. The Fibroadenoma Market industry is projected to grow from USD 0.77 billion in 2024 to USD 1.34 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.36% during the forecast period (2024 - 2032).

Increased awareness about fibroadenoma through public education campaigns and rising incidences of fibroadenoma among women are the major factors that are driving the growth of the fibroedema market.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Fibroadenoma Market Trends

• 
  

  Increased awareness about fibroadenoma through public education campaigns

  
  

Increased awareness about fibroadenoma through public education campaigns stands out as a major driving force in the fibroadenoma market. Public education campaigns play a pivotal role in informing women, about the signs and symptoms of fibroadenoma. This heightened awareness encourages proactive health-seeking behavior and prompts women to undergo regular breast examinations and screenings. Early detection is critical for timely intervention and appropriate management of fibroadenomas. Also, public education campaigns help dispel myths and misconceptions surrounding breast lumps, alleviating unnecessary anxiety and fear associated with such findings.

Furthermore, the development of improved diagnostic techniques stands out as a major driving force behind the growth of the fibroadenoma market. Accurate identification of fibroadenomas is crucial for timely and appropriate medical intervention, and advancements in diagnostic tools have significantly contributed to enhancing the precision of detection. Enhanced diagnostic techniques enable healthcare professionals to detect fibroadenomas at earlier stages. Early identification is essential for implementing timely and targeted treatment strategies, reducing the potential for complications, and improving patient outcomes. The introduction and refinement of non-invasive imaging technologies, such as ultrasound and magnetic resonance imaging (MRI), have revolutionized the diagnostic approach to fibroadenomas.

In addition, fibroadenomas, benign breast tumors composed of glandular and fibrous tissues, have become increasingly prevalent in women in their reproductive years. This trend has significantly influenced the dynamics of the fibroadenoma market, shaping the demand for diagnostic tools, treatment options, and research endeavors.

Thus, rising awareness about fibroadenoma through campaigns and technological advancements for early diagnosis are boosting the growth of the market.

Fibroadenoma Market Segment Insights

Fibroadenoma Market Type Insights

Based on type, the Fibroadenoma Market is segmented into simple fibroadenoma and complex fibroadenoma. Simple fibroadenomas dominated the market share in 2022, largely due to their frequent diagnosis. Increased awareness and access to early detection methods have contributed to this prevalence, making people more familiar with this benign tumor. Furthermore, complex fibroadenoma is anticipated to register the highest CAGR from 2024 to 2032 because there are underlying trends or risk factors specific to complex fibroadenomas that are driving their predicted growth, such as changes in lifestyle or environmental factors.

Fibroadenoma Market Diagnosis & Treatment Insights

Based on diagnosis & treatment, the fibroadenoma market is segmented into diagnosis and treatment. The diagnosis segment is segregated into ultrasound scan, mammography, and biopsy; treatment is divided into cryoblation, high-intensity focused ultrasound (HIFU), lumpectomy, and drugs. Also, the drug segment has been segmented into dydrogesterone, medroxyprogesterone, selective estrogen receptor modulators, and others. Diagnosis held the largest market in 2022, and treatment is anticipated to register the highest CAGR during the forecast period. The accuracy of diagnosing and characterizing fibroadenomas has been greatly improved by advancements in breast imaging. Since the last decade, ultrasound and biopsy have become indispensable diagnostic technologies for the diagnosis of both simple and complex.

FIGURE 2: Fibroadenoma Market, By Diagnosis & Treatment, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Fibroadenoma Market End User Insights

Based on end user, the fibroadenoma market is segmented into hospitals & clinics, ambulatory surgical centers, and others. Hospitals & clinics held the largest market share in 2022 and is anticipated to register the highest CAGR during the forecast period. This is due to increasing adoption of technology-based imaging among hospitals and diagnostic centers. Moreover, the rising popularity of minimally invasive procedures like cryoablation or vacuum-assisted excision further benefits hospitals and clinics equipped to perform these procedures. In addition, the increasing focus on outpatient care and cost-reduction further supports the dominance of hospitals and clinics, as they can offer efficient and relatively lower-cost services compared to inpatient settings.

Fibroadenoma Market Regional Insights

By region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest market share of over 38.49% in 2022 owing to the advanced diagnostic techniques & medical infrastructure, and reimbursement policies & insurance coverage. Furthermore, North Americans tend to be more aware of health issues and have greater access to healthcare compared to other regions. This leads to more frequent checkups and diagnoses of fibroadenomas, even in asymptomatic cases.

Further, the major countries studied are: The US, Canada, Brazil, Germany, France, the UK, Italy, Spain, China, India, Japan, South Korea, and Australia.

FIGURE 3: Fibroadenoma Market, By Region, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The Europe fibroadenoma market shows significant growth during the forecast year, i.e., 2024–2032, owing to the increasing focus on minimally invasive procedures for fibroadenomas like cryoablation and vacuum-assisted excision, which are particularly strong in Europe. Hospitals and clinics in the region are well-equipped to perform these procedures, attracting patients seeking less invasive options. Moreover, increasing consumer demand for innovative artificial solutions is leading to high investment and development in breast cancer diagnosis technology. For instance, in June 2020, VARA AI (Germany) raised USD 7.21 for AI-powered breast cancer screening software for mammograms. Furthermore, the Germany fibroadenoma market held the largest market share in 2022 and is the fastest growing market in the Europe region.

The Asia-Pacific fibroadenoma market is the fastest-growing region during the forecast period owing frequent launch of breast diagnosis and treatment machines through expansion. In May 2023, IceCure Medical Ltd. announced that ProSense was installed and inaugurated at Kovai Medical Center and Hospital ("KMCH") in India. This is a minimally invasive system that uses liquid nitrogen to destroy tumors by freezing them. Moreover, China fibroadenoma market held the largest market share in 2022 and India fibroadenoma market is the fastest growing market in the Asia-Pacific region.

Fibroadenoma Key Market Players & Competitive Insights

The Fibroadenoma Market is characterized by the presence of many global, regional, and local players and factors such as lowering the cost of the products, improving infrastructure and increasing adoption of diagnosis and treatment technologies driving the growth of the Fibroadenoma Market. To expand their reach and optimize their operational costs, the major players focus on forming strategic and in order to gain a substantial market share.

GE Healthcare (US) is a subsidiary of General Electric (GE), one of the world's leading conglomerates. GE Healthcare has evolved into a global leader in the healthcare industry, offering a diverse range of medical technologies, diagnostics, patient monitoring systems, and biopharmaceutical manufacturing solutions. Moreover, in November 2023, GE Healthcare (US) launched MyBreastAI Suite to support clinicians in accelerating breast cancer detection.

Key Companies in the Fibroadenoma Market includes.

• GE Healthcare (US)


• Koninklijke Philips N.V. (Germany)


• Shimadzu Corporation (Japan)


• Siemens Healthineers (Germany)


• Canon Medical Systems Corporation (Japan)


• Dilon Technologies (US)


• Pfizer, Inc. (US)


• IceCure Medical (Israel)


• Alpinion Medical Systems (South Korea)


• Fujifilm Holdings Corporation (Japan)

Fibroadenoma Industry Developments

November 2023: GE HealthCare (US) announced the release of MyBreastAI Suite to support clinicians in accelerating breast cancer detection.

September 2023: IceCure Medical Ltd (Israel) announced that its ProSense System has received regulatory approval as a Class III device from the Brazilian Health Regulatory Agency.

May 2023: IceCure Medical Ltd. (Israel) announced that ProSense was installed and inaugurated at Kovai Medical Center and Hospital ("KMCH") in India.

Fibroadenoma Market Segmentation:

Fibroadenoma Market Type Outlook

• Simple Fibroadenoma


• Complex Fibroadenoma

Fibroadenoma Market Diagnosis & Treatment Outlook

• Diagnosis
  
  
  
  • Ultrasound Scan
  
  
  • Mammography
  
  
  • Biopsy
  
  
  
  


• Treatment
  
  
  
  • Cryoblation
  
  
  • High Intensity Focused Ultrasound (Hifu)
  
  
  • Lumpectomy
  
  
  • Drugs
    
    
    
    • Dydrogesterone
    
    
    • Medroxyprogesterone
    
    
    • Selective Estrogen Receptor Modulators
    
    
    • Others
    
    
    
    
  
  
  
  

Fibroadenoma Market End User Outlook

• Hospital and Clinics


• Diagnostic Centers


• Others

Fibroadenoma Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America