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.
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The prevalence of hemorrhoids is found particularly between the age of 45 and 65, both in men and women. However, only a small percentage of the affected population seek any form of medical treatment like medication or surgery and instead opt for relief pills purchased from pharmacies.
According to the latest report by the team of Market Research Future (MRFR), the global hemorrhoids treatment market Hemorrhoid Treatment Devices Market is expected to register a CAGR of 5.98% to reach USD 973.94 Million by 2025. 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 the global demand for hemorrhoids treatment. 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.
Market Segmentation
The global hemorrhoid treatment devices market has been segmented based on device type, procedure, and end-user. The market, based on device type, has been segmented into rubber band ligators, infrared coagulators, proctoscopes, anoscopes, doppler probes, cryotherapy devices, bipolar probes, and others. The market, based on procedure, has been categorized into rubber band ligation, sclerotherapy, infrared coagulation, and others. The market, based on end-user, has been divided into hospitals and clinics, ambulatory surgery centers, and others.
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.
Competitive Landscape
The global hemorrhoids treatment market holds a number of key players like Boehringer Ingelheim GmbH, Takeda Pharmaceutical Company, Abbott Laboratories, Boston Scientific Corporation, GlaxoSmithKline, Pfizer Inc., AstraZeneca PLC, CONMED Corporation, Taro Pharmaceuticals Inc., Astra Zeneca, Olympus Corporation, Cook Medical, Glenmark Pharmaceuticals Bayer AG, Teva Pharmaceutical Industries Ltd, and others.
13th March 2019, Organization de Scalene announced recently the launch of Cryocure. Cryocure is an affordable medical device that is used to treat piles without any need for surgery.
8th April 2019, Trifecta Pharmaceuticals, one of the leading developers, distributors, and manufacturers of specialty OTC topical creams, gels, and ointments announced today about its distribution partnership with Walmart. The move will see Mayinglong, a hemorrhoid treatment ointment, being available on the shelves of the leading departmental store.
1 EXECUTIVE SUMMARY
1.1 MARKET SYNOPSIS 14
1.2 MARKET ATTRACTIVENESS ANALYSIS 15
1.3 GLOBAL HEMORRHOID TREATMENT DEVICES MARKET, BY DEVICE TYPE 15
1.4 GLOBAL HEMORRHOID TREATMENT DEVICES MARKET, BY PROCEDURE 16
1.5 GLOBAL HEMORRHOID TREATMENT DEVICES MARKET, BY END USER 17
2 MARKET INTRODUCTION
2.1 DEFINITION 18
2.2 SCOPE OF THE STUDY 18
2.3 RESEARCH OBJECTIVE 18
2.4 MARKET STRUCTURE 18
2.5 ASSUMPTIONS & LIMITATIONS 19
3 RESEARCH METHODOLOGY
3.1 DATA MINING 20
3.2 SECONDARY RESEARCH 21
3.3 PRIMARY RESEARCH 22
3.4 BREAKDOWN OF PRIMARY RESPONDENTS 24
3.5 FORECASTING TECHNIQUES 25
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 26
3.6.1 BOTTOM-UP APPROACH 26
3.6.2 TOP-DOWN APPROACH 27
3.7 DATA TRIANGULATION 28
3.8 VALIDATION 28
4 MARKET DYNAMICS
4.1 OVERVIEW 29
4.2 DRIVERS 30
4.2.1 RISING CASES OF HEMORRHOIDS 30
4.2.2 NEW APPROACHES TO TREAT HEMORRHOIDS 30
4.2.3 RISING GERIATRIC POPULATION 31
4.3 RESTRAINTS 32
4.3.1 PRODUCT RECALL 32
4.4 OPPORTUNITIES 33
4.4.1 INNOVATION IN HEMORRHOID TREATMENT DEVICES 33
5 MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES MODEL 34
5.1.1 THREAT OF NEW ENTRANTS 34
5.1.2 BARGAINING POWER OF SUPPLIERS 35
5.1.3 THREAT OF SUBSTITUTES 35
5.1.4 BARGAINING POWER OF BUYERS 35
5.1.5 INTENSITY OF RIVALRY 35
5.2 VALUE CHAIN ANALYSIS 36
5.2.1 R&D AND DESIGNING 36
5.2.2 MANUFACTURING 36
5.2.3 DISTRIBUTION 37
5.2.4 MARKETING & SALES 37
5.2.5 POST-SALES MONITORING 37
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