ID: MRFR/HC/7254-CR | January 2020 | Region: Global | 200 pages
Global Hemorrhoid Treatment Devices Market is expected to register a CAGR of 7.14% to reach USD 1370.89 Million by 2030. Hemorrhoids, also called piles, are swollen and inflamed blood vessels in the anus as well as in the lower rectum. The patient suffers from painless bleeding at the time of bowel movement, itching or irritation in the anal region, and swelling around the anus. The hemorrhoid treatment devices reduce procedure time and also provides easy access to the target site for optimal patient comfort.
The hemorrhoid treatment devices industry is expected to grow at a steady pace. The rising prevalence rate of chronic diarrhea is one of the factors contributing to the growth of the market globally. Also, several public and private companies are incorporating innovative technologies in the development of medical devices for the treatment of hemorrhoids. Such strategies employed by prominent players are likely to push the growth of the hemorrhoid treatment devices market on a global front.
Rising cases of hemorrhoids are expected to boost the market growth. The growing number of cases of hemorrhoids is pushing the demand for hemorrhoid treatment devices, which attributes to the growth of the hemorrhoid treatment devices market globally. For instance, the hemorrhoid is the fourth leading outpatient gastrointestinal diagnosis that accounts for approximately 3.3 million ambulatory care visits in the US. Self-reported incidences of hemorrhoids in the US are 10 million each year, which is around 4.4% of the population. Additionally, new approaches to treat hemorrhoids, rising geriatric population are the major drivers that would push to the growth of the market.
Global Hemorrhoid Treatment Devices Market, by Device Type, 2018 and 2025 (USD Million)
Source: MRFR Analysis
The Global Hemorrhoid Treatment Devices Market is segmented based on device Type, Procedure, and End User.
The market, based on device type, has been categorized as rubber band ligators, infrared coagulators, proctoscopes, anoscopes, doppler probes, cryotherapy devices, bipolar probes, and others. Among these, rubber band ligators is the largest segment. Additionally, an extensive number of companies, such as Cook Medical, Integra LifeSciences Corporation, Privi Medical, and Boston Scientific Corporation is focusing on the development of rubber band ligators and are directly pushing the growth of this segment. For instance, Privi Medical received FDA clearance for its Instalief Hemorrhoids treatment device.
The Global Hemorrhoid Treatment Devices Market, based on procedure, has been categorized into rubber band ligation, sclerotherapy, infrared coagulation, and others. Among these, rubber band ligation is the largest segment as it involves a much lower risk of pain than surgical treatments of hemorrhoids, as well as a shorter recovery period.
The Global Hemorrhoid Treatment Devices Market, based on end-user, has been divided into hospitals and clinics, ambulatory surgery centers, and others. Among these, hospitals & clinics accounted for the largest market share in 2018. Rising cases of hemorrhoids would ultimately accelerate the growth of hospitals & clinics segment. According to the National Institute of Diabetes and Digestive and Kidney Disease (NIDDK), in 2016, about 50% of people over the age of 50 had hemorrhoids, which ultimately involves hospitals & clinics for the treatment of hemorrhoids resulting in driving the market growth.
Global Hemorrhoid Treatment Devices Market Share, by Region, 2018 (%)
Source: MRFR Analysis
The Global Hemorrhoid Treatment Devices Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas led the market and accounted for the largest share in 2018, owing to the existence of medical device companies and the rising prevalence of diseases along with increased adoption of treatment by patients. In North America, the US held the largest of the market share in 2018 owing to the presence of major market players, developed healthcare infrastructure, high awareness, and availability of advanced treatment options. The number of people suffering from hemorrhoids in the US is currently estimated to be around 10.4 million; also, about 1 million new cases of hemorrhoids occur each year. Thus, this is propelling the demand for hemorrhoid treatments, thereby supporting the dominance of the region.
Europe accounts for the second-largest share in the global hemorrhoid treatment devices market owing to the presence of favorable government initiatives & laws and target population base, rising prevalence of lifestyle-associated conditions, obesity and constipation, and increasing adoption rate of hemorrhoids treatment devices. Nearly 50% of all Germans develop symptomatic hemorrhoids during their lifetime, and up to 70% of the adult population is affected by hemorrhoids.
Asia-Pacific is estimated to be the fastest-growing market during the forecast period due to the increasing per capita health spending, growing older population base, rising incidence of hemorrhoids, and developing the healthcare sector in China, Japan, India, and Australia. Around 1 million new cases of hemorrhoids develop every year in India, which is nurturing the regional market growth, thus, resulting in the growth of the Asia-Pacific hemorrhoid treatment devices market.
The Middle East & Africa hemorrhoid treatment devices market is segmented into two major regions, namely the Middle East and Africa. In this region, the Middle East would hold a substantial market share over the assessment period due to high obesity rates, developing healthcare infrastructure, booming medical tourism, the budding medical device industry, and gradually increasing adoption of treatment modalities in the Gulf Cooperation Council (GCC) region. In 2016, the CIA World Factbook presented a list that ranked countries based on obesity rates. Several countries from the Middle East and North Africa were ranked highly with Kuwait at the highest obesity rate in the Middle East. Additionally, in 2016, the medical tourism sector displayed a significant growth of 9% to 10%, and more than 326,649 patients from all over the world visited Dubai for medical treatments. Thus, these factors are expected to have a positive impact on the Middle East and Africa market over the study period.
The Prominent Players in the Global Hemorrhoid Treatment Devices Market are Cook Medical (US), Medtronic plc (Ireland), Privi Medical (Singapore), Integra LifeSciences Corporation (Israel), Sklar Surgical Instruments (US), OBP Medical Corporation (US), CONMED Corporation (US), Boston Scientific Corporation (US), Johnson & Johnson Services, Inc. (US), and others.
Some of the key strategies followed by players operating in the global hemorrhoid treatment devices market were FDA approval among others.
Global Hemorrhoid Treatment Devices Market, by Device Type
Global Hemorrhoid Treatment Devices Market, by Procedure
Global Hemorrhoid Treatment Devices Market, by End User
Global Hemorrhoid Treatment Devices Market, by Region
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Frequently Asked Questions (FAQ) :
Global hemorrhoid treatment devices market is estimated to expand at a CAGR of 7.14% by the end of 2030.
Global hemorrhoid treatment devices market is expected to hold a market value of USD 1370.89 million by the end of 2030.
Global hemorrhoid treatment devices market can be segmented on the basis of type, end-user, procedure, and region.
The APAC region is expected to be the fastest growing regional market in global hemorrhoid treatment devices market.
Privi Medical (Singapore), Boston Scientific Corporation (US), Integra LifeSciences Corporation (Israel), OBP Medical Corporation (US), and a few more are some of the eminent players of the global hemorrhoid treatment devices market.