Industry Outlook

Hemorrhoids are characterized by swelling and inflammation of veins in the anal canal and cause irritation, pain and itching to the patients. At present, several sufferers seek relief with an assortment of products such as home remedies, topical ointments of varying strengths and compositions. Direct application products offer temporary relief and have to be used for a limited period. Products such as cushions also offer comfort while sitting and cannot be considered as a treatment. Demographic studies have also revealed that those who purchase hemorrhoid care products have some primary factors in common such as age, low-income average, low education and so on. High education and high income bracket of patients is more appealing to permanent surgical treatments. However, lowering prices of band ligation treatments is anticipated to attract further patient groups.

Hemorrhoids is a common condition. It is estimated that as the U.S. population approached 50, half of this group will have experienced hemorrhoids; common causes being constipation, obesity, heavy lifting, compromised diet, sitting for longer periods and also diarrhea. The National institute of Diabetes and Digestive Kidney Diseases reported that 10.4 million Americans suffer from hemorrhoids, with 1 million new cases being reported every year. Among these, only one in three individuals seek medical help and treatment, thus leaving a huge set of population untreated. In several cases where medical treatment and lifestyle changes are not effective, patients are treated surgically and endoscopically.  

"Band ligation to remain the most sought treatment method"

For internal and severe form of hemorrhoids, where conventional non-surgical are not effective invasive treatments such as band ligation, infrared coagulation and sclerotherapy are preferred. However, there is no clinical consensus on optimal treatment. The treatment goal of each of these treatments is limiting vascularity. Among the considered treatment methods, rubber band ligation is the most commonly performed procedure in outpatient settings. This treatment modality is reserved for patients with more severe patients that are not responding to non-operative therapies. There is substantial clinical data suggesting the efficacy of band ligation and significant reporting is available comparing band ligation with other methods. Recurrence of hemorrhoids after treatment is a chief limitation of band ligation, therefore restricting the market growth.

"Ambulatory surgery centers and clinics to pick pace during the forecast period"

Currently hospitals are the most prominent segment where hemorrhoid treatments are largely performed. Lack of self-reporting for medical assistance and preference for invasive treatments only in urgent or severe cases assist in creating the dominance of hospitals, as treatment for severe hemorrhoids end up in seeking surgical treatments. Ambulatory surgical centers and clinics is anticipated to witness surge in patient footfall during the forecast period. improving awareness in the general population and cost containment of endoscopic treatments are facilitating the swift growth of these segments.

"Despite the market domination, further expansion of North America and Europe are anticipated"

Geographically, the global hemorrhoid treatment devices market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Among these regions, North America and Europe are the largest regional markets for hemorrhoids treatments. However, consistently increasing prevalence of lifestyle associated conditions, obesity and constipation due to improper dietary habits will lead to further growth in incidence of hemorrhoids in the general population. Asia Pacific will witness rapid growth in the adoption of hemorrhoids treatment and therefore support the progress of the overall market. Improving awareness and increasing disposable incomes of the population are the key factors driving Asia Pacific market for hemorrhoid treatment devices.

This report also includes company profiles section that gives insights on the company overview, product portfolio, financial information and key developments of major market players. The major players profiled in this report include Cook Medical, Medtronic Plc, Privi Medical, Sklar Corporation (Sklar Surgical Instruments), Integra LifeSciences Corporation, OBP Medical Corporation, A.M.I. GmbH, CONMED Corporation, Boston Scientific Corporation and Ethicon (Johnson & Johnson).

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hemorrhoid Treatment Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Hemorrhoid Treatment Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Hemorrhoid Treatment Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Hemorrhoid Treatment Devices market?
• Which is the largest regional market for Hemorrhoid Treatment Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Hemorrhoid Treatment Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Hemorrhoid Treatment Devices market worldwide?