Hemorrhoids Treatment Market Overview
Hemorrhoid is a highly uncomfortable disorder which is also known as piles. The condition is so subtle yet dangerous that most people under the age of fifty are unaware of the same. Hemorrhoids are inflamed, swollen veins situated in the anal canal and causes a strong sense of irritation in the form of both pain and itchiness. Patients who suffer from the same condition seek relief from a variety of products, boasting both negatives and positives. Direct products like wipes, creams, pads, and suppositories are highly effective at offering temporary period of relief. However, it is not effective enough for permanent treatments.
According to the latest report by the team of Market Research Future (MRFR), the global hemorrhoids treatment market is expected to grow at a decent rate of 4.4% during the forecast period. The market growth is influenced by numerous factors like the increasing prevalence of lifestyle-based diseases, growing demand for treatment, an increasing demand for reducing infections & complications relating to hemorrhoids, and an increasing number of surgeries. The growing old-age population is also one of the key contributors to global demand for Hemorrhoids Treatment Market. However, lack of awareness and hesitancy towards medical treatment due to the feeling of embarrassment stands out as a key constraint to the growth of the global market.
There are two types of hemorrhoids (piles), internal and external, which vary in their location. While there is no specific cause of hemorrhoids, there are a number of causes that may lead to the disorder: age, chronic constipation or diarrhea, pregnancy, heredity, discomfort during bowel movements, impaired bowel function. Some patients do not even experience symptoms, but those that do experience bleeding during bowel movements, protrusion during bowel movements and itching, discomfort, and sensitive lumps in the anal region. There are a range of options for home care, such as sitz baths, wipes, creams, fiber supplements suppositories, and hemorrhoid pillows.
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Hemorrhoids Treatment Market Segmentation
- The global market for hemorrhoids treatment is segmented based on treatment type, route of administration, and distribution channel.
- Based on treatment type, the market for hemorrhoids treatment is segmented into non-surgical and surgical procedures. The non-surgical is further sub-segmented into, NSAIDs, laxatives, and herbals. The surgical procedures further sub-segmented into band litigation, cryotherapy, sclerotherapy.
- Based on the route of administration, the market is segmented into oral and topical agents.
- The distribution channel is segmented into retail pharmacies, online pharmacies, hospital pharmacies, and others.
Hemorrhoids Treatment Market Regional Analysis
The regional segmentation of the global hemorrhoids market covers four major regions globally, namely Asia Pacific, Europe, the Americas, and the Middle East & Africa.
The Americas hold the maximum share of the market as per the global standings. The dominance of the region can be attributed to the huge patient population, high expenditure in the healthcare sector, and a well-established technology. The regional market for hemorrhoids treatment is expected to continue its dominance in the forthcoming years.
Europe accounts for the second largest market globally following the Americas. The European region is segmented into key regions, namely Western and Eastern Europe. The Western European region consists of countries like the UK, Germany, and France. Factors that primarily push the market in this region are the lack of any physical exercise, sedentary lifestyle, obesity, alcoholism, poor fiber intake in diet, etc.
Asia Pacific is slated to be the fastest growing regions in hemorrhoids. The growth in this region can be attributed to factors like the increasing demand for better diagnostic devices, rapidly improving technologies, better and safe therapeutic approach, and the presence of a massive talent pool.
Hemorrhoids Treatment Market Players
- Abbott Laboratories
- AstraZeneca plc
- Bayer AG
- Boehringer Ingelheim GmbH
- Boston Scientific Corporation
- CONMED Corporation
- Cook Medical
- GlaxoSmithKline
- Olympus Corporation
- Pfizer Inc.
- Others
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