An expert on premium research reports, Market Research Future has added a report titled “Global Hemorrhoids Treatment Market 2023” to its offering. The report provides an in-depth analysis of regional data and an accurate projection of the market size and share of the Top 10 market players across the globe.
The Global Hemorrhoids Treatment Market is expected to register a CAGR of ~5.5 % during the forecast period of 2018 to 2023.One of the most uncomfortable disorders a patient can have is hemorrhoids and most of the population under the age of fifty don’t know what hemorrhoids are. The general population avoids the disorder until they suffer from the disorder and start to feel the symptoms such as pain and itching associated with the condition. According to the American Society of Colon & Rectal Surgeons, hemorrhoids are one of the most common disorders and more than half the population will develop hemorrhoids after the age of 30.
The prevalence of hemorrhoids (also called piles) in the United States is reported to be 4.4% with most suffering occurring between the ages of 45 and 65, equally in men and women. But only one third of these individuals seek medical treatment such as surgery, medication etc., with most opting for over-the-counter relief purchased from the pharmacies.
There are two types of haemorrhoids (piles), internal and external, which differ to their location. While there is no exact cause of hemorrhoids, there variety of reasons that can subsidize to the disorder: aging, chronic constipation or diarrhea, pregnancy, heredity, straining during bowel movements, faulty bowel function. Some patients may not even experience symptoms but those that do may notice bleeding during bowel movements, protrusion during bowel movements and itching, pain, and sensitive lumps in the anal area. A variety of options exist for home treatment such as sitz baths, wipes, suppositories, creams, fiber supplements, and hemorrhoid pillows. Over half of patients purchasing hemorrhoid treatment use a cream. Preparation H and Tucks are the leading providers of creams, wipes/pads, and suppositories and can be purchased at most grocery and drug stores.
The Global Hemorrhoids Treatment Market is segmented based on treatment type, route of administration, distribution channel, and region.On the basis of treatment type, the market is segmented into drugs (further sub segmented into laxatives, NSAIDs, and herbals) non-surgical procedures (further sub segmented into band litigation, sclerotherapy, cryotherapy) surgical procedures. Further, on the basis of route of administration the market is segmented into oral, topical agents. Distribution channel is segmented into retail pharmacies, hospital pharmacies, online pharmacies and others.
Regional Market Summary:
In the current scope of the study, the above-mentioned segments are covered into four global regions, namely- the Americas, Europe, Asia Pacific and the Middle East & Africa. More than half the population in the U.S. will be affected by hemorrhoids in their lives. Hemorrhoids are swollen, inflamed veins in the anal canal and can cause strong irritation in the form of pain and itching. Currently, patients suffering from hemorrhoids who seek relief from their discomfort can choose from an assortment of products with varying positives and negatives. Direct products such as creams, wipes, suppositories and pads are effective at providing temporary relief, but cannot be used for permanent treatment. Hemorrhoid cushions can be used as much as needed but are conspicuous and can be uncomfortable with prolonged use.Moreover, According to Home Care Magazine, in 2014, 24 million baby boomers had reached age 50. Those over age 65 will continue to represent a larger share of the overall population. By 2020, more than 54 million people in the United States will be over age 65. Furthermore, by 2030, members of the 66 to 84 age brackets will constitute an estimated 20 percent of the U.S. population.
Europe accounted for the second largest market behind Americas. Europe consist of two regions namely Western Europe and Eastern Europe. Western Europe holds the major share of the market, which is majorly contributed by Germany, the U.K., and France. The major factors accountable for the growth of the hemorrhoids treatment market comprise of sedentary lifestyle, lack of physical exercise, alcoholism, obesity, poor fiber intake in diet etc. in most of the regions in Europe. Lack of awareness and preparedness for medical treatment due to a feeling of embarrassment hinders the growth of the market.Asia Pacific is the fastest growing region in hemorrhoids market. Increasing need for better diagnostic devices, better and safe therapeutic approach, rapidly improving technology, and the presence of huge patient pool drive the growth of this market in Asia Pacific region.