HEMORRHOID TREATMENT DEVICES MARKET ANALYSIS

Hemorrhoid Treatment Devices MarketSize and Trends

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.