Overview

Hemorrhoid treatment devices market is poised to value USD 1016.15 million by 2028 end at a CAGR of 5.7% during the forecast period 2022 to 2028.

Increasing cases of hemorrhoids are driving the growth of the market. According to the figures released by International Surgery Journal, hemorrhoids is one of the most common disorders among adults. The alarming rise of numbers has resulted in a growth of the surgery procedures, thus propelling the market. Rise in the geriatric population is also expected to spike the market growth. The affordability of non-invasive procedures is expected to fuel the growth of the market over the coming years.

The market is bifurcated into by type, by usage area, and by region. On the basis of type, band ligators are expected to hold vast segment of the market. Band ligators are painless, ensures safety and have minimal complications, owing to these features there has been an increase in demand of the segment thus increasing the market share.

Based on the usage area, hospitals are expected to show notable growth. Hospitals are the preferred destination of treatment owing to presence of better healthcare facilities and advanced technology. The tie-ups of hospitals with healthcare companies coupled with the rapid expansion of hospitals are accelerating the growth of the market. The increased funding for healthcare infrastructure alongside the presence of novel healthcare infrastructure in developed economies is positively influencing the growth of the market.

In terms of region, North America is the front runner of the market. According to the figures released by the National Institute of Diabetes and Digestive Kidney Diseases, around 10.4 million Americans suffer from hemorrhoids and over 1 million new cases are reported every year. Out of these, only one in three individuals gets medical help and treatment. The rise in cases is expected to propel the market in the region. Rapid commercialization of novel products, presence of developed healthcare infrastructure and favorable reimbursement policies are also promoting the growth of the market in the region.

Asia-Pacific region represents a lucrative opportunity for manufacturers owing to the increased government funding for healthcare infrastructure. The rising awareness of hemorrhoid treatment devices for hemorrhoid surgeries coupled with increasing adoption of advanced hemorrhoid treatment products is expected to boost the presence of the market in the region. Companies like Wuxi Shenkang Medical Instrument Equipment Co.Ltd and Zhengzhou Safute Electronic Equipment Co.,Ltd are actively present in the region.

Key players of the market are :
OBP Medical Corporation, Conmed Corporation, Privi Medical Pte. Ltd., Integra LifeSciences Corporation, Surkon Medical Co., Ltd., Boston Scientific Corporation, Cook Medical, Sklar Surgical Instruments and Johnson & Johnson.

Competitive Landscape:

Product launches are increasing the market size. De Scalene in 2019 launched a new device called Cryocure. The device is available at affordable rates and helps in stopping the bleeding from anal blood vessels
PRIVI MEDICAL PTE. LTD. received clearance fro U.S FDA for its new device, Instalief

Hemorrhoid Treatment Devices Market Segmentation :

By Type

Band Ligators
Sclerotherapy Injections
Cryotherapy Devices
Infrared Coagulators
Laser Probes
Bipolar Probes
Others

By Usage Area

Hospitals
Clinics
Ambulatory Surgery Centers

By Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Hemorrhoid Treatment Devices Market Video Sample:

FutureWise Key Takeaways:

Growth Prospects
SWOT Analysis
Key Trends
Key data-points affecting market growth

Objectives of the Study:

To provide with an exhaustive analysis on the market by type, by usage area and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
Evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and the Middle East and Africa
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financial and core competencies

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