Market Insights on Hemorrhoid Treatment Devices: Revenue and Trends
Hemorrhoids is a condition when the veins around the anus and lower rectum become swollen. There are four kinds of hemorrhoids, such as internal, external, prolapsed, and strangulated. Internal hemorrhoids are present inside the rectum but in rare cases, they are discovered outside the rectum too. External hemorrhoid is serious medical problem and can lead to complications, such as prolapsed external hemorrhoid and strangulated external hemorrhoid. Hemorrhoids are a common disease in both men and women. Hemorrhoid treatment consists of diet modifications and laxatives. A high-fibre diet can be effective, in some cases, a medical procedure to remove the hemorrhoid may be needed to provide relief.
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Market Dynamics:
Increasing incidence and prevalence of hemorrhoid disease worldwide and the development of advanced therapies and treatment is expected to propel the growth of the hemorrhoid treatment devices market. For instance, in February 2018, Trifecta Pharmaceuticals USA introduced a traditional Chinese medicine named Mayinglong, an ointment to the United States for the treatment of hemorrhoid.
Moreover, the increasing clearance for new hemorrhoid treatment devices, especially in North America from the United States Food and Drug Administration (USFDA), is expected to fuel the growth of the hemorrhoid treatment devices market. For instance, in 2018, Privi Medical received FDA clearance for Instalief for treatment of hemorrhoid. Instalief is a hemorrhoid treatment device, which provides the instant cold relief without any side-effects.
Technological advancements in the hemorrhoid treatment devices and the presence of well-established healthcare infrastructure is also expected to augment the growth of the hemorrhoid treatment devices market. However, product recall is the major challenge, which is expected to restrain growth of the hemorrhoid treatment device market.
Competitive Analysis:
Major players operating in the hemorrhoid treatment devices market are Surkon Medical Co., Ltd., Sklar Surgical Instruments, Boston Scientific Corporation, OBP Medical Corporation, Integra LifeSciences Corporation, Medtronic, Cook Medical, PRIVI MEDICAL, CONMED Corporation, and Johnson & Johnson, Plc.
Major players in the market are adopting various strategies, such as partnership, collaboration, etc., to enhance their product portfolio or to enhance their market position. For instance, in February 2021, Well Health Technologies Corporation acquired CRH Medical Corporation. The CRH O’Regan System is a single-use, disposable, hemorrhoid banding technology that is safe and highly effective in treating all grades of hemorrhoids.
In February 2018, Peritech Pharma and Latam BD Group collaborated to enhance the drugs availability, such as PP-120 for anal itching and PP-110 for hemorrhoids, in the Brazil and 23 other countries in Central and South America and the Caribbean.
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