Hemorrhoid, also known in layman terms as piles, is an enlarged abnormal mass of blood vessel that occurs in and around anus, especially deep inside the anal canal. The major factors contributing to the disease include obesity, pregnancy, frequent unprotected anal intercourse, chronic diarrhea, and irritate bowel syndrome. Patients suffering from the same witness itching and painless bleeding at times. Among diet, frozen and processed food such as hotdogs and cutlets can contribute to the onset of piles. Although hemorrhoid can be self-diagnosed, a digital rectal examination can help medical professionals in detecting masses and fluctuance, whereas for internal hemorrhoids, anoscopy is an effective procedure.
COVID-19 Impact Analysis
Increase has been witnessed in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. The need for medical supplies has increased significantly among both from healthcare professionals and civil population for precautionary measures, owing to rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the global hemorrhoid treatment devices market.
Top Impacting Factors
- As per reports, piles affect approximately half of any country’s population before they turn 50. Among young adults and generation-X, hemorrhoid is a common disorder, thus giving an impetus for growth of various treatment device mechanisms.
- Constant increase in the health expenditure of countries all across Asia-Pacific and Europe coupled with better insurance covers in countries that have traditionally lagged behind in pharmaceutical industry for years is boosting the growth of the hemorrhoid treatment devices market.
- High obesity rates in countries with higher consumption pattern, especially in the Middle East has increased the demand for treatment of hemorrhoid. Additionally, better healthcare facilities in the region have positively impacted the hemorrhoid treatment device market.
- One of the major restraints affecting the growth is the high cost of treatment that is involved with the procedure. The higher cost acts as a huge barrier especially in the countries with low disposable incomes and lower HDI.
- General awareness about the market in the third world and low consumption economies due to lack of basic facilities such as healthcare education and social media penetration further acts as key factor hampering the market growth and diversification.
Key Market Trends
- North America is anticipated be the forefront runner in the industry, owing to a robust healthcare infrastructure coupled with strong market presence of diversified players and higher awareness among general public.
- COVID-19 and its impact has left a psychological bondage on pharmaceutical players around the globe in developing robust infrastructure to deal with any eventuality. For the same reason, more investments are anticipated in the hemorrhoid treatment devices market as well in the coming decade. Additionally, governments around the globe have launched reasonable policies to tackle the syndrome through and efficient treatment device industry.
- Among the treatment device products, band ligators are expected to hold major market share in the industry, owing to better and effective results they have proven to offer vis-à-vis other products. Additionally, band ligators are proven too make use of technological advancements way better that all other devices.
- Increase in the frequency of product launches such as the “Cryocure” launched by De Scalene and “Instalief” launched by Privi Medical Ltd. for stopping the anal blood discharge has had other global players follow in the same footstep in order to penetrate the market.
Key Benefits of the Report
- This study presents the analytical depiction of the hemorrhoid treatment devices industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.
- The current market is quantitatively analyzed to highlight the growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Hemorrhoid Treatment Devices Report
- Which are the leading players active in the hemorrhoid treatment devices market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the hemorrhoid treatment devices market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What are the impacts of COVID-19 in the industry?
- What is hemorrhoid treatment devices?
- What is the hemorrhoid treatment devices market prediction in the future?
- What are the current trends and predicted trends?
Key Market Segments
- By Product Type
- Band Ligators
- Laser Probes
- Bipolar Probes
- Cryotherapy Devices
- Infrared Coagulators
- Sclerotherapy Injectors
- Others
- By Usage Area
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Others
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Medtronic Plc.
- Cook Medical
- Johnson and Johnson
- OBP Medical Corporation
- CONMED Corporation
- Privi Medical
- Boston Scientific Corporation
- Sklar Surgical Instruments
- Integra Lifecycles Corporation
- Medline Industries Inc.