According to Market Research Future (MRFR), the global hemorrhoids treatment market is projected to register a CAGR of 5.5 % from 2018 to 2023 (forecast period).
Among the most uncomfortable disorders a patient may have is hemorrhoids, and most people under the age of fifty do not know what hemorrhoids are. The general population ignores the disorder until they are affected by the disorder and begin to experience symptoms such as discomfort and itching associated with the disorder. As per the American Society of Colon & Rectal Surgeons, hemorrhoids are one of the most common disorders, and more than half of the population may develop hemorrhoids after the age of 30. The prevalence of hemorrhoids (also known as piles) in the United States is estimated to be 4.4%, with the majority of cases occurring between the ages of 45 and 65, similarly among men and women. But just one-third of these individuals are seeking medical care, such as surgery, medications, etc., with most opting for over-the-counter relief obtained from pharmacies.
There are two types of hemorrhoids (piles), internal and external, which vary in their location. While there is no specific cause of hemorrhoids, there are a number of causes that may lead to the disorder: age, chronic constipation or diarrhea, pregnancy, heredity, discomfort during bowel movements, impaired bowel function. Some patients do not even experience symptoms, but those that do experience bleeding during bowel movements, protrusion during bowel movements and itching, discomfort, and sensitive lumps in the anal region. There are a range of options for home care, such as sitz baths, wipes, creams, fiber supplements suppositories, and hemorrhoid pillows.
Market Dynamics
Increased cases of intra-abdominal pressure due to improper dietary eating, obesity, and pregnancy are factors that increase the market size of hemorrhoid treatment. Changes in lifestyle, including increasing consumption of alcohol and fat-induced foods, have a positive effect on the market growth of hemorrhoid treatment. However, inadequate knowledge and preparedness for medical treatment due to a feeling of embarrassment hinders the growth of the market.
Segmentation
The global market for hemorrhoids treatment is segmented based on treatment type, route of administration, and distribution channel.
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.
The distribution channel is segmented into retail pharmacies, online pharmacies, hospital pharmacies, and others.
Regional Analysis
The global hemorrhoids treatment market is segmented into four global regions, namely- the Americas, Europe, the Asia Pacific, and the Middle East & Africa.
Hemorrhoids will impact more than half of the U.S. population in their lifetimes. Hemorrhoids are swollen, inflamed veins in the anal canal, which can cause extreme discomfort in the form of pain and itching. At present, patients suffering from hemorrhoids who seek relief from their pain can choose from a range of products with varying positive and negative effects. Specific products, such as creams, wipes, suppositories, and pads, are useful in offering immediate relief, but cannot be used for permanent care. Hemorrhoid cushions can be used, but they are noticeable and can be uncomfortable with extended use. Furthermore, according to Home Care Magazine, 24 million baby boomers had reached the age of 50 in 2014. Those over the age of 65 will tend to represent a greater proportion of the total population. By 2020, more than 54 million residents in the United States will be over 65 years of age. In addition, by 2030, members of the 66 to 84 age group will make up an estimated 20% of the U.S. population.
Europe registered for the second-largest market behind the Americas. Europe is comprised of two parts, namely Western Europe and Eastern Europe. Western Europe has a significant market share, primarily contributed by Germany, the United Kingdom, and France. Primary factors that are responsible for the growth of the hemorrhoid treatment market include a sedentary lifestyle, lack of physical activity, alcoholism, obesity, low dietary fiber intake, etc. in most regions of Europe. Lack of understanding and preparedness for medical care due to a sense of shame hinders the growth of the market.
The Asia Pacific is the fastest-growing region on the market for hemorrhoids. Growing need for better diagnostic devices, better and safer therapeutic methods, rapidly evolving technology, and the presence of a vast patient pool are driving the growth of this market in the Asia Pacific region.
Key Players
Some of the major participants in the global hemorrhoids treatment market are AstraZeneca plc, Abbott Laboratories, AstraZeneca plc, Bayer AG, GlaxoSmithKline, Boehringer Ingelheim GmbH, Cook Medical, Boston Scientific Corporation, CONMED Corporation, Pfizer Inc., Takeda Pharmaceutical Company, Taro pharmaceuticals Inc., Astra Zeneca, Teva Pharmaceutical Industries Ltd, Glenmark Pharmaceuticals, Olympus Corporation, and others.
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