Hemorrhoid is a common disease in a general population, which is also known as the piles, where the patient suffers from painless bleeding during bowel movement, itching and irritation in anal side, swelling of anal veins, pain and discomfort, and formation of lumps near to anus, which is sensitive and painful. Hemorrhoid is distinguished into two parts such as internal hemorrhoid and external hemorrhoid.
Treatment for hemorrhoid disease includes non-surgical treatment and surgical treatment. Non-surgical treatment includes laxatives and corticosteroids. Surgical treatment includes banding, sclerotherapy, infrared coagulation, hemorrhoidectomy, and hemorrhoid sampling. Various devices are used for the treatment of hemorrhoid such as endoscopic rubber band ligator, hemorrhoidal multi-band ligator, disposable hemorrhoid banding system, mcgivney hemorrhoidal ligator, endoscopic infrared coagulator, and lumatec infrared coagulator.
Global Hemorrhoid Treatment Devices Market Drivers
New product launches is expected to drive the global hemorrhoid treatment devices market size. For instance, in March 2019, De Scalene launched a new device called Cryocure, an affordable device to treat hemorrhoid without surgery. Cryocure helps to stop the bleeding from anal blood vessels and constriction of that anal blood vessels.
Furthermore, increasing incidence and prevalence of hemorrhoid disease in the U.S. is expected to drive the global hemorrhoid treatment devices market growth. For instance, in March 2016, according to the National Center for Biotechnology Information (NCBI), overall prevalence of hemorrhoid disease in the general population is around 4.4% and self-reported incidence of hemorrhoid disease is around 10 million persons, annually in the U.S.
Global Hemorrhoid Treatment Devices Market Restraints
Product recall is the major challenge, which is expected to hamper the global hemorrhoid treatment device market forecast. For Instance, in September 2016, the U.S. Food and Drug Administration (FDA) recalled the product of Ultroid Technologies for the Hemorrhoid Management System (UHMS) device kits, procedure packs, including the Ultroid disposable sterile probes, as these devices had not been designed and manufactured according to the quality assurance procedures.
Global Hemorrhoid Treatment Devices Market Regional Analysis
North America is expected to hold dominant position in the global the hemorrhoid treatment device market, owing to increasing clearance for new hemorrhoid treatment devices from the U.S. FDA. For instance, in January 2018, PRIVI MEDICAL PTE. LTD., received U.S. FDA clearance for its new device (Instalief), which is used for the hemorrhoid treatment. Instalief is the drug-free device, which provides the instant cold relief without any side-effects.
Furthermore, Asia Pacific is also projected to witness significant growth in the global hemorrhoid treatment device market, owing to presence key manufacturers and vendors of hemorrhoid treatment devices in the Asia Pacific region. Majority of market players in the global hemorrhoid treatment devices market such as Zhengzhou Safute Electronic Equipment Co., Ltd., and Wuxi Shenkang Medical Instrument Equipment Co. Ltd belong to China. These companies include various hemorrhoid treatment devices such as anorectal physical therapy device, SAFUTE hemorrhoid surgery device, and sigmoid colon and hemorrhoid disease treating device.
Key players operating in the global hemorrhoid treatment device market include Johnson & Johnson, PRIVI MEDICAL PTE. LTD., Cook Medical, Medtronic Plc, Integra LifeSciences Corporation, OBP Medical Corporation, Boston Scientific Corporation, Sklar Surgical Instruments, Surkon Medical Co., Ltd., and CONMED Corporation.
Global Hemorrhoid Treatment Devices Market Taxonomy
By Product Type:
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.