The hemorrhoids treatment market is projected to reach USD 725.9 Million by 2030 at 5.50% CAGR during the forecast period 2022-2030. With changes in our lifestyle and dietary habits, hemorrhoids have become a serious problem for a large section of the population.
Hemorrhoids commonly known as piles are a condition of formation of lump by swelling of veins in lower rectum or anus. Itching or irritation in the anal region, severe pain or discomfort, swelling around the anus, and bleeding is the major symptom of this disorder. About 4.4 % of the global population suffers from hemorrhoids and the prevalence rate is growing very fast.
There has been a significant rise in awareness about hemorrhoids and development in treatment methods. Therefore, misconceptions and shyness about the disorder are decreasing and more people are turning up to hospitals and clinics for treatment. Moreover, the development of novel drugs, less invasive and quicker treatment methods will further increase the market share. The global hemorrhoids treatment market value is expected to be worth USD billion by the end of the current forecast period in 2030.
Covid 19 Analysis of Hemorrhoids Treatment Market
Covid 19 had a negative impact on the global hemorrhoids market. The rapid surge in coronavirus cases made healthcare workers shift their attention to covid management thereby putting other cases in the shadows. The restrictions in the movement of goods and people caused a shortage of hemorrhoids medicines in the market. Moreover, it also led to a downfall in the number of patients visiting hospitals and clinics for treatment. However, there was a boom in the growth of online medical counseling and online pharmaceutical sales. The market is showing rapid recovery post covid relaxations.
Hemorrhoids Treatment Market Dynamics
The rising patient base and improvements in detection and treatment methodology are the major factors driving the growth of the global hemorrhoids treatment market. Moreover, early detection of the disorder has been possible nowadays with a rise in awareness about the problem. The lifestyle change and increasing adoption of sedentary habits along with less fiber food has been the major causes of the disorder.
There has been considerable advancement in the treatment methodology. Newer drugs and therapeutic machines are very useful. Moreover, increase in public and private investments for infrastructure development are also fuelling the market growth.
The lack of knowledge about hemorrhoids and misconceptions about them are the major growth restraining factors. A majority of hemorrhoid patients do not reach the hospitals for treatment until severe symptoms don't appear.
There is a lack of specialized personnel and healthcare infrastructure for the treatment of hemorrhoids not only in low-income countries but in developed countries too. The poor infrastructural support is another major restraint to the hemorrhoids market. Besides these, the time taking treatment procedure is also a hindrance to the growth of the hemorrhoids market.
Hemorrhoids commonly known as piles are a condition of formation of lump by swelling of veins in lower rectum or anus. It can be internal ( beneath the skin ) or external ( around the anus ). The common symptoms are intense pain, itching in the anus, and rectal bleeding.
Hemorrhoids are a common problem in both men and women but only cause problems during severe conditions. It can affect people of every age including teenagers but are most common above the age of 50. There are a variety of reasons that can incite the disorder like aging, chronic constipation or diarrhea, pregnancy, heredity, straining during bowel movements, faulty bowel function.
The specific objectives of this market report are given below:
Segmentation of the global hemorrhoids treatment market, By Device Type
Band ligators account for the major market share owing to their high efficiency. These devices are minimally invasive and show better long-term efficacy. Moreover, these devices are highly cost-effective and the treatment procedure using band ligators requires fewer sessions.
Segmentation of the global hemorrhoids treatment market, by route of administration
The topical agents occupy the major market share due to their greater efficiency and quicker action. However, with advancements in drug development oral drugs are increasing their market share. Oral medications offer ease of administration and can be taken by individuals themselves without taking help from others.
Segmentation of the global hemorrhoids treatment market, By treatment type
Non-surgical procedures dominate the market. The successful development of effective drugs and therapeutic methods was successful in replacing surgical procedures. Band litigation has emerged as the most successful process and is commonly used nowadays.
Global Hemorrhoids Treatment Market, by Distribution Channel
Retail pharmacies are the largest segment by distribution channel of the global hemorrhoids treatment market. The vast network of retail pharmacies makes them close to patient customers. Moreover, easy access and buying procedures are growth-promoting factors for this segment. However, the online pharmacies segment is witnessing a higher growth rate owing to the increasing penetration of the internet.
Segmentation of the global hemorrhoid treatment market, by end-users
Hospitals and Clinics dominate the end-user market segment of the hemorrhoids market. These are the primary places of treatment for the majority of the population. Besides these better infrastructural facilities and professional support makes them the leading segment.
The different regional markets for the global hemorrhoids treatment market are:
The American segment is the largest regional market segment for the global hemorrhoids treatment market. The rising prevalence of hemorrhoids due to lifestyle change and the adoption of sedentary habits is fueling the market growth in this region. According to research by NIDDK, 1 out of 20 Americans have hemorrhoids and 10 million new cases appear each year. Moreover, well-developed healthcare infrastructure and active government support will further boost market growth.
The European segment is the second-largest segment. The rising geriatric population and prevalence of lifestyle disorders are generating demand for hemorrhoids treatment.
Moreover, well-developed medical infrastructure and active medical research backup are positive market factors in this segment.
The Asia-Pacific is the fastest-growing market segment. The rapid development of healthcare infrastructure and the growth of the pharmaceutical industry are driving the market growth in this region. Moreover, the patient fall is also increasing with the increase in awareness about the disorder.
The other segments viz the Middle East and the African segment are expected to witness moderate growth over the forecast period.
The major global companies playing a key role in the hemorrhoids treatment market are :
This report will be beneficial for every stakeholder of the hemorrhoids treatment market such as :
This report provides an in-depth analysis of the hemorrhoids treatment market in terms of current value and future forecast. It has details about the problems and prospects of the given market. Moreover, the technological analysis section of this report will help in knowing the product better and its market prospects. Furthermore, this report contains a comprehensive analysis of every segment of the given market for the current forecast period (2021-2028). This report has also highlighted the key players and the current developments in the hemorrhoids treatment market.
|Market Size||USD 725.9 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Treatment type, Route of administration, Distribution channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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|
|Key Market Opportunities||Medical treatment such as surgery, medication etc.|
|Key Market Drivers||Rapidly improving technology, and the presence of huge patient pool drive the growth of this market in Asia Pacific Region|
The Global Hemorrhoids Treatment Market market is studied from 2022-2030.
The Global Hemorrhoids Treatment Market is growing at a CAGR of 5.50% over the next 5 years.
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 are the major companies operating in Global Hemorrhoids Treatment Market.
Rapidly improving technology, and the presence of huge patient pool are the factors expected to propel the growth of the global Hemorrhoids Treatment market