Global Hemorrhoid Treatment Devices Market - 2024-2031

Global Hemorrhoid Treatment Devices Market - 2024-2031

The global hemorrhoid treatment devices market reached US$ XX million in 2023 and is expected to reach US$ XX million by 2031, growing at a CAGR of XX% during the forecast period 2024-2031.

Hemorrhoids are enlarged veins in the anal canal that results in the symptoms such as pain, itching, and rectal bleeding. Depending on the appearance, symptoms, and degree of prolapse, hemorrhoids are classified from grade 1 to 4. Patients with grade 1 to 3 hemorrhoids can be treated with non-surgical procedures using devices with the principle of band ligation, infrared coagulation, laser therapy, and others. These devices can be used for office-based procedures without sedation for the removal of hemorrhoids.

Market Dynamics: Drivers

Rising product approvals and launches

Hemorrhoid treatment usually involves medication, nonsurgical office-based procedures, and surgical procedures for stage 4 patients. The most common method of treatment is office-based procedures followed by prophylaxis with medication and diet control. These procedures usually involve devices based on several technologies such as band ligation, laser technology, etc. Several companies have launched their devices based on these technologies and have established a stronghold market share. Several other companies are working to bring innovation in this technology and several are expanding their distribution channels to increase the patient reach. These factors contribute to the growth of the market in the forecast period.

For instance, on November 1, 2023, a Swedish company Devloperation reported the first human use of its recently launched device PexyEazy. It is a product based on the technology called mucopexy for treating grade 2 and 3 hemorrhoids. The company has also received patented rights in the last quarter of 2023 for its device in several countries including the U.S., Japan, Singapore, Russia, South Africa, Israel, and China.

In 2022, Haemoband, a European company has reported double-digit growth for the first half of 2022. This surge in revenue growth was seen due to the widening of distribution channels for one of their product called Haemoband-PLUS, a band ligation technology-based device. The company has reported a 12% increase in sales value and a 25% increase in sales volume, due to expansion of the product distribution to high-income countries such as the U.S. Saudi Arabia, and Malaysia. The company has also mentioned its expansion inside Europe in the countries of Netherlands, Belgium, and Luxembourg.

Moreover, the rising prevalence of hemorrhoids, the rising adoption of a fast-paced life, and changing food habits are expected to further boost the market growth in the forecast period.

Restraints

Factors such as the risk of recurrence, complications associated with the procedures and stringent government regulations during a product approval process are the factors that are expected to restrain the market growth.

Segment Analysis

The global hemorrhoid treatment devices market is segmented based on product type, technology, end-users and region.

The rubber band ligation in the technology segment accounted for approximately 39.5% of the hemorrhoid treatment devices market share

The rubber band ligation in the technology segment is expected to hold the largest market share over the forecast period. Rubber band ligation is a minimally invasive procedure that involves ligating the dilated blood vessel also known as hemorrhoid cushion to restrict the blood flow and promote necrosis. This rubber band ligation is performed in grade 1 and grade 2 patients and is a very common in-office procedure. This can be performed with or without an endoscope, and the effectiveness of this procedure is on the higher end.

For instance, on March 8, 2022, according to a retrospective study published in Krager, the in-office procedures are majorly performed for grade 1 and grade 2 patients with rubber band ligation being the most widely performed procedure as compared with other procedures.

On February 25, 2022, according to an article published by Gastro SB Clinic, rubber band ligation is the most widely performed office-based procedure with ease by gastroenterologists, and the complications are very rare.

On June 20, 2022, according to a retrospective study published in Springer Nature, the rubber band ligation remained superior to all other advanced technologies that are currently in practice for hemorrhoid treatment. Over time for almost 2 decades, the rubber band ligation method has been proven to be an effective treatment option for grade 1 and 2 hemorrhoid patients.

Geographical Analysis

North America accounted for approximately 45.30% of the market share

North America region is expected to hold the largest market share over the forecast period owing to the rising prevalence of hemorrhoids and rising product launches in the region. Moreover, due to higher per capita healthcare spending, the cost per treatment is usually higher as compared to other countries, which contributes to the higher market share. North America especially the United States is a very well-known hub for its strong presence of major market leaders. Major market players in hemorrhoid treatment devices such as Medtronic, and Cook have a stronghold presence in the U.S.

For instance, on January 29, 2022, according to an article published in News Medical Lifesciences, the number of people in the U.S. suffering from hemorrhoids is approximately 10.4 million, and every year the U.S. reports approximately 1 million cases.

Competitive Landscape

The major global players in the hemorrhoid treatment devices market includeMedtronic, CRH Corp., THD SpA, Cook, Ethicon US, LLC., Boston Scientific Corporation, CONMED Corporation., Integra LifeSciences Corporation., biolitec AG, and Privi Medical among others.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the global hemorrhoid treatment devices market. During this period, due to lifestyle changes such as working from home, a sedentary life, and minimal excursion to the body, the risk of hemorrhoids has increased. Also, during the pandemic, the availability of proctologists for proper diagnosis and care for hemorrhoid patients has become scarce.

For instance, on February 1, 2022, according to an article published in Pelvinicthe COVID-19 pandemic has increased hemorrhoid cases 3 fold among individuals between 15 to 50 years of age.

Market Segmentation

By Product Type
• Devices
• Accessories

By Technology
• Rubber Band Ligation
• Infrared Coagulation
• Laser Technology
• Sclerotherapy
• Others

End Users
• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Out-Patient Departments
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Why Purchase the Report?
• To visualize the global hemorrhoid treatment devices market segmentation based on product type, technology, end users and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of hemorrhoid treatment devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global hemorrhoid treatment devices market report would provide approximately 62 tables, 55 figures, and 187 Pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies