New York, United States, April 15, 2024 (GLOBE NEWSWIRE) -- The Global Hemorrhoid Treatment Device Market Size is to Grow from USD 724.1 Million in 2023 to USD 1,073.1 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 4.01% during projected period.
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Hemorrhoids, also known as piles, are a prevalent condition in the general public in which patients encounter painless bleeding during bowel movement, itching and irritation on the anal side, inflammation of the anal veins, discomfort or pain, and development of sensitive and tender masses near the anus. Hemorrhoids are classified into two types: internal and external. Hemorrhoid treatment devices, on the other hand, are medical appliances or tools used to relieve the symptoms of hemorrhoids. Moreover, telemedicine is getting increasingly popular as users interact with healthcare systems despite needing to make in-person appointments. In contrast, consumer sentiment has begun to improve in recent months, and the healthcare industry has resumed normal operations. This has increased hospital visits, boosting the market for hemorrhoid treatment devices. However, the expense of various pharmaceuticals used as substitute treatment options will restrict future market expansion. Rubber band ligation is the most often used therapy in ambulatory settings. After treatment, hemorrhoid reappearance is a serious constraint for band ligation, hindering market expansion.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Hemorrhoid Treatment Device Market Size, Share, and COVID-19 Impact Analysis, By Device (Sclerotherapy Injectors, Infrared Coagulators, Bipolar Probes, Band Ligators, Cryotherapy Devices, Hemorrhoid Laser Probes, Others), By End-use (Clinic, Hospital, Home Care Settings), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The band ligators segment is expected to hold the largest share of the global hemorrhoid treatment device market during the forecast period.
Based on the device, the global hemorrhoid treatment device market is divided into sclerotherapy injectors, infrared coagulators, bipolar probes, band ligators, cryotherapy devices, hemorrhoid laser probes, and others. Among these, the band ligators segment is expected to hold the largest share of the global hemorrhoid treatment device market during the forecast period. Band ligators have grown more important in therapy as the frequency of hemorrhoids rises and inpatient procedures become more popular. Band ligators, often known as hemorrhoid banding devices, are among the most widely used ligator devices for the treatment of grade I and II hemorrhoids. Band ligation can be performed either with or without an endoscope.
The hospital segment is expected to grow at the fastest CAGR during the forecast period.
Based on the end-use, the global hemorrhoid treatment device market is divided into clinic, hospital, and home care settings. Among these, the hospital segment is expected to grow at the fastest CAGR during the forecast period. Because of their modern medical infrastructure and the availability of skilled healthcare professionals, hospitals will account for a substantial portion of the hemorrhoid treatment device market. The hospital business is predicted to expand as the prevalence of hemorrhoids grows and the demand for minimally invasive surgical techniques grows.
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North America is expected to hold the largest share of the global hemorrhoid treatment device market over the forecast period.
North America is expected to hold the largest share of the global hemorrhoid treatment device market over the forecast period. North America has a substantially higher incidence of hemorrhoids, which leads to a larger patient class and a greater demand for medical equipment. North America has a more developed healthcare system, with efficient hospitals and clinics, making it easier to implement new hemorrhoid treatment procedures. Increasing understanding of various treatment options and a proactive attitude to healthcare help this region's dominance.
Asia Pacific is predicted to grow at the fastest pace in the global hemorrhoid treatment device market during the projected timeframe. The market for hemorrhoid treatment devices in the region is expanding as a result of increased healthcare costs and the emergence of a big patient base in developing nations like China and India.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global hemorrhoid treatment device market include CONMED Corporation, Privi Medical (Tracxn Technologies Limited), Sklar Surgical Instruments, Boston Scientific Corporation, Medtronic Plc, Cook Medical, Integra LifeSciences, DePuy Synthes (Johnson & Johnson), Integra LifeSciences Corporation, Ethicon Endo-Surgery (Johnson & Johnson), Teleflex Incorporated, B. Braun Melsungen AG, Erbe Elektromedizin GmbH, Olympus Corporation, and Others.
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Recent Developments
- In February 2023, MEDFINITI B.V., along with its U.S. subsidiaries, MEDFINITI, Inc. and HemWell MD LLC, are pleased to report the introduction of HemWell, a modern electrosurgical device that will change the way hemorrhoids are treated.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global hemorrhoid treatment device Market based on the below-mentioned segments:
Global Hemorrhoid Treatment Device Market, By Device
- Sclerotherapy Injectors
- Infrared Coagulators
- Bipolar Probes
- Band Ligators
- Cryotherapy Devices
- Hemorrhoid Laser Probes
- Others
Global Hemorrhoid Treatment Device Market, By End-Use
- Clinic
- Hospital
- Homecare Setting
Global Hemorrhoid Treatment Device Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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