PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555540
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555540
Hemorrhoids Surgical Devices Market size was valued at USD 688.9 Million in 2023, expanding at a CAGR of 5.00% from 2024 to 2032.
Medical equipment specifically made for treating hemorrhoids is known as a hemorrhoids surgical device. Swollen blood vessels are the hallmark of hemorrhoids, a common ailment that affects the anal and rectal regions. The surgical excision of hemorrhoids (hemorrhoidectomy) and less invasive methods are among the many procedures that these inventive technologies are instrumental in making possible. Using these cutting-edge tools, medical practitioners can improve the total healing period following surgery and significantly lessen patient discomfort. These instruments are a vital tool in the treatment of hemorrhoids because of their accuracy and efficacy, which guarantee the best possible results for patients.
Hemorrhoids Surgical Devices Market- Market Dynamics
Growing Cases of Hemorrhoids to Propel Market Growth
Hemorrhoids are a common medical ailment that millions of people worldwide suffer from. Patients seeking medical attention, including surgery employing hemorrhoid surgical devices, are becoming more common as a result of this condition's rising prevalence. The intensity of hemorrhoids can vary from little soreness to excruciating pain and bleeding. Surgical techniques are frequently necessary for patients with more advanced instances to receive meaningful relief. The need for surgical instruments is fueled in part by the growing severity and frequency of hemorrhoids. Additionally, as patients gain knowledge about their healthcare alternatives, they frequently choose surgical treatments over non-surgical ones for symptomatic or chronic hemorrhoids to find long-term comfort. Surgical technologies accommodate this desire for conclusive care. Minimally invasive surgeries that provide shorter recovery periods and less discomfort after surgery are the trend in modern medicine. Because they make less invasive hemorrhoidectomy operations possible, specialized surgical instruments for hemorrhoids, like staplers and laser equipment, are in high demand. People are becoming more conscious of hemorrhoidal disorders and are inclined to seek treatment, including surgery if they exhibit symptoms. The increased need for hemorrhoid surgical devices is partly due to this increased awareness.
Hemorrhoids Surgical Devices Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.00% over the forecast period (2024-2032)
Based on device segmentation, the band ligator category was predicted to show maximum market share in the year 2023
Based on hemorrhoid type segmentation, the external hemorrhoid category was the leading segment in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Hemorrhoids Surgical Devices Market is segmented on the basis of Device, Hemorrhoid Type, End User, and Region.
The market is divided into the following categories based on the device: band ligators, sclerotherapy injectors, infrared coagulators, bipolar probes, cryotherapy devices, and hemorrhoid laser probes. The band ligators category dominates the market. Band ligators are becoming more and more crucial in therapy due to the rise in hemorrhoids and the choice of inpatient procedures. Hemorrhoid banding devices, also known as band ligators, are among the most often used ligator devices for treating grade I and II hemorrhoids. An endoscope is not always necessary for band-ligation procedures.
The market is divided into the following categories based on end-user: hospitals, homecare, specialty clinics, and others. The hospitals category dominates the market and is likely to maintain its dominance during the forecast period because of the nation's well-established healthcare system and the rising incidence of hemorrhoids in the general populace. Due to the growing number of people afflicted with this illness, these settings must have access to highly qualified medical personnel as well as cutting-edge surgical instruments to guarantee efficient and dependable care. Furthermore, a major factor in these healthcare institutions' domination in the market is the ease with which they may be accessed, as well as the reputation that comes with well-established facilities.
Hemorrhoids Surgical Devices Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Throughout the forecast period, North America is anticipated to hold the greatest share of the global market for Hemorrhoids Surgical Devices because of the expansion of the highly developed healthcare industry. Additionally, during the projection period, the hemorrhoid surgical devices market in the region would grow at a faster rate because of the increased awareness among healthcare practitioners about these devices.
In addition, the Hemorrhoids Surgical Devices market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific because sophisticated surgical instruments for hemorrhoids are becoming more widely accepted. Furthermore, in the upcoming years, it is expected that technological advancements will further fuel the expansion of the hemorrhoids surgical devices market in the region.
There are numerous major competitors in the fragmented global market for hemorrhoid treatment devices. Cook, Medtronic, Privi Medical, Sklar Surgical Instruments., Integra LifeSciences Corporation, and others are some of the major companies in the market. These companies prioritize research and development, product approval, and the introduction of new goods. To increase their market share in hemorrhoid treatment devices, they are implementing M&A, partnership, and collaboration strategies.
February 2023: In the United States, MEDFINITI B.V., MEDFINITI, Inc., and HemWell MD LLC are pleased to announce the introduction of HemWell, an innovative electrosurgical device that is revolutionizing the treatment of hemorrhoids.