The growing old-age population is also one of the key contributors to the global 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. The Global Hemorrhoids Treatment Market is expected to grow at an approximate CAGR of 7.1% during forecast period, 2018–2023.
Factors such as growing demand for treatment; increasing prevalence of lifestyle diseases, increase in number of surgeries which may require these treatments for postoperative care; and increase in demand to reduce complications & infections relating to hemorrhoids are expected to drive the market. Growing aging population contributes to increased need of bio rutin for hemorrhoids treatment.
Key Players
Some of the key players in the Global Hemorrhoids Treatment Market companies are Abbott Laboratories, AstraZeneca plc, Bayer AG, Boehringer Ingelheim GmbH, Boston Scientific Corporation, CONMED Corporation, Cook Medical, GlaxoSmithKline, Olympus Corporation, Pfizer Inc., Takeda Pharmaceutical Company, Taro pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd, Astra Zeneca, Glenmark Pharmaceuticals, and others
Segmentation:
The Global Hemorrhoids Treatment Market is segmented based on treatment type, route of administration, distribution channel, and region.
- 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.
- Based on Distribution Channel is segmented into retail pharmacies, online pharmacies, hospital pharmacies, and others.
Regional Analysis:
The Global Hemorrhoids Treatment Market is segmented based on regions: Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas accounted for the major share of the market owing to the huge patient population, well-developed technology, and high healthcare expenditure. Asia Pacific accounted for the second largest market, which is followed by Europe.
Asia Pacific is the fastest growing hemorrhoids treatment market owing to rapidly changing healthcare sector, huge patient pool in this region, and the presence of vast opportunities for the development of this market. Increasing government support for research & development, well-developed healthcare infrastructure, and presence of geriatric population have driven the European hemorrhoids treatment market.
The Middle East & Africa has the least share in the market owing to the presence of poor and slow developing countries, especially, in African region. The Middle East held the major share of the regional market due to well-developed infrastructure and high spending.
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