Transparency
Market Research (TMR) has published a new report titled, “Hemorrhoid Treatment
Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast, 2018–2026”. According to the report, the global hemorrhoid
treatment devices market was
valued at US$ 569.6 Mn in 2017 and is projected to expand at a CAGR of 4.6%
from 2018 to 2026. Increase in incidence of hemorrhoids among the adult
population and rise in the number of hemorrhoid surgeries due to high patient
preference are anticipated to drive the global market during the forecast
period. North America and Europe are expected to dominate the global hemorrhoid
treatment devices market owing to higher rate of adoption and awareness about
hemorrhoid treatment devices. Asia Pacific, Latin America, and Middle East
& Africa are potential markets for hemorrhoid treatment devices. The market
in Asia Pacific is likely to expand at a high CAGR from 2018 to 2026.
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Cost-effective
Devices for Treatment of Complex Hemorrhoids to Drive Global Market
Increase in incidence of
hemorrhoids disease drives the global hemorrhoid treatment devices market.
According to the International Surgery Journal (February 2018), hemorrhoids are
one of the most common disorders among young adults. The journal estimated that
over 50% of people suffer from piles before they reach 50. This is projected to
increase the number of surgery procedures, which in turn is anticipated to
propel the global hemorrhoid treatment devices market. The band ligators
segment accounted for a leading share of the global market in 2017, owing to
increase in adoption of ligators for hemorrhoid treatment. Ligators involve an
office-based procedure, which is relatively safe and painless, with minimal
complications. Moreover, rise in the utilization of endoscopic ligators by
physicians for easy access to hemorrhoids is likely to boost the segment in the
near future.
Hospitals
& Clinics to be Promising Segment
In terms of end-user, the global
hemorrhoid treatment devices market has been classified into hospital &
clinics, ambulatory surgical centers, and others. The hospital & clinics
segment held major share of the global market in 2017. Dominance of the segment
can be attributed to the availability of multiple service options & devices
and tie-ups with health care companies in order to enhance health care products
and service offerings. Moreover, hospital & clinics are the preferred
choice for treatment due to availability of advanced technology and better
health care services. The hospital & surgical centers segment is projected
to expand at a high CAGR, especially in developed economies, due to rise in
geriatric population and increase in health care infrastructure and support. Moreover,
rise in demand for hemorrhoid treatment devices in ambulatory surgical centers
during medical emergency is anticipated to drive the segment.
North America
to Dominate Global Market
In terms of region, the global
hemorrhoid treatment devices market has been segmented into North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa. North
America dominated the global market in 2017. The market in the region is driven
by highly developed health care sector, increase in awareness among health care
providers about hemorrhoid treatment devices, and continuous development of
hemorrhoid treatment devices. North America presents significant opportunities
in the hemorrhoid treatment devices market. The market in Asia Pacific is
anticipated to expand at a high CAGR during the forecast period due to increase
in awareness about hemorrhoid treatment devices for hemorrhoid surgeries.
Moreover, growth of the health care sector in countries such as China, Japan,
and India is expected to propel the market in the region. Additionally,
technological advancements and increase in rate of adoption of hemorrhoid
treatment products are likely to augment the market in the region during the
forecast period.
Medtronic plc
and Cook Medical to Lead Global Market
The global hemorrhoid treatment
devices market is highly fragmented in terms of number of players providing
different products. Key players in the global market include Boston Scientific
Corporation, Medtronic plc, Cook Medical, Johnson & Johnson, Integra
LifeSciences Corporation, CONMED Corporation, Medline Industries, Inc., Privi
Medical, Sklar Surgical Instruments, and Surkon Medical Co., Ltd. Expansion of
product portfolio through mergers and acquisitions is a key strategy followed
by these players.
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