Hemorrhoid Treatment Devices Market is anticipated to grow at a CAGR of 4.7% from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Global Hemorrhoid Treatment Devices Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Hemorrhoid Treatment Devices market was valued US$ 625 Mn in 2018. It is anticipated to grow at a CAGR of 4.7% from 2019 to 2030.
The growth of the global hemorrhoid treatment devices market is attributed to factors such as growing incidence of hemorrhoids in adults, reducing costs of invasive procedures, and evolving treatment techniques to make the treatment more comfortable and efficacious. Moreover, growing awareness and increasing disposable incomes in emerging economies like China & India and factors such as aging, abdominal obesity, and pregnancy are fueling the growth of hemorrhoid treatment devices market globally. However, preference for non-operative therapies by experienced surgeons to treat hemorrhoids and the use of home remedies is hampering the demand for hemorrhoid treatment devices and restraining market growth.
The evolution in hemorrhoid treatment technique is contributing to growth of the hemorrhoid treatment devices market globally. Hemorrhoids can be managed with a wide range of treatment devices such as band ligators, hemorrhoid staplers, laser probes and bipolar probes for surgical, invasive, and non-surgical procedures to make treatment more easy and effective. The cryotherapy device is an effective non-surgical treatment device designed to apply cold therapy directly for external and internal hemorrhoid relief.
Reducing costs of minimally invasive procedures and cost-effectiveness of devices for the treatment of hemorrhoids have resulted in substantial growth of hemorrhoid treatment procedures utilizing hemorrhoid treatment devices. Shorter hospital admittance time, lesser procedure associated pain and fewer complications have been pivotal in contributing to the growing adoption of minimally-invasive procedures in hemorrhoid treatment. Moreover, growing awareness among people in emerging markets such as Asia Pacific, Latin America & Africa and growing healthcare infrastructure in developing economies is fueling growth of hemorrhoid treatment devices market globally.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Hemorrhoid Treatment Devices Market by Type (Band Ligators, Sclerotherapy Injections, Cryotherapy Devices, Hemorrhoid Staplers, Infrared Coagulators, Laser Probes, and Bipolar Probes), by End User (Hospitals, Ambulatory surgery centers (ASCs), and Specialty clinics) - Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/hemorrhoid-treatment-devices-market/153
The preference of non-operative therapies over operative hemorrhoidectomy to treat hemorrhoids and home remedies to reduce the hemorrhoids may affect the demand of hemorrhoid treatment devices adversely and may hamper the growth of global hemorrhoid treatment devices market globally.
Asia Pacific is anticipated to experience the highest growth rate during the forecast years. Factors such as increasing population and disposable incomes in emerging economies, aging, and evolving treatment techniques are likely to boost the growth of hemorrhoids treatment devices market in the APAC region. China and India accounted for a major share of hemorrhoid treatment devices market in the Asia Pacific region owing to a large population base and a fast-growing healthcare infrastructure in the countries.
The key players operating in the global hemorrhoids treatment devices market include Medtronic, Boston Scientific Corporation, Cook Medical, Ethicon US, LLC, Sklar Surgical Instruments, CONMED Corporation, OBP Medical Corporation, Reach Surgical, Integra LifeSciences Corporation, Privi Medical, among others.
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