Market Overview:
The anal fissure treatment market is estimated to be valued at US$ 1,039.3 Mn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Anal fissures include tears or cuts in the lining of the anus. They cause pain and bleeding during and after bowel movements. The main symptoms are bright red blood on toilet paper or in the stool and pain during and after bowel movements. Some key products used for anal fissure treatment include topical nitroglycerin, calcium channel blockers, and botulinum toxin type A injections.
Market Dynamics:
The anal fissure treatment market is expected to grow at a significant rate due to increasing incidences of anal fissures. According to the estimates of National Health Service (NHS) UK, around 1 in 20 adults in the UK will suffer from anal fissures at some point in their lives. The rising prevalence of constipation and chronic diarrhea which are major risk factors for anal fissures is also expected to drive the market growth during the forecast period.
Another factor fueling the market growth is the increasing adoption of non-surgical treatments over surgical treatments due to various advantages such as lower risk of complications, reduced hospital stay, faster recovery, and cost-effectiveness. Increasing research and development activities targeted towards developing new and improved drugs for anal fissures is further expected to present lucrative opportunities for manufacturers in the market. However, the availability of alternative treatment options and lack of awareness regarding anal fissures in some regions may hamper the market growth.
SWOT Analysis
Strength: Anal Fissure Treatment market has strong growth potential owing to increasing prevalence of anal fissure. The development of novel drugs and minimally invasive procedures provide enhanced treatment outcomes. Further, availability of reimbursements and technical advancements support market growth.
Weakness: High costs associated with surgical procedures limits their adoption in low and middle-income countries. Also, lack of awareness about anal fissure conditions poses challenges.
Opportunity: Rising healthcare spending in emerging nations creates lucrative opportunities. Furthermore, ongoing R&D activities to develop advanced therapeutics will further aid the market expansion over the forecast period.
Threats: Presence of alternative treatment methods and potential side-effects of drugs may hamper the market revenues.
Key Takeaways:
The Global Anal Fissure Treatment Market Size is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing prevalence of gastrointestinal diseases. North America dominates the market owing to growing incidence of anal fissures and developed healthcare infrastructure in the region.
Regional analysis:
Asia Pacific is projected to grow at the fastest rate during the forecast period due to rising healthcare investments, developing healthcare infrastructure and economic growth in countries such as China, India. Large patient pool and healthcare reforms undertaken by regional governments are likely to boost the Anal Fissure Treatment market in Asia Pacific.
Key players
Key players operating in the Anal Fissure Treatment market include Allergan, Novartis, Pfizer, Takeda Pharmaceutical Company, Cook Medical, Medtronic, Johnson & Johnson, AstraZeneca, GlaxoSmithKline, Sanofi, Merck, Abbott Laboratories, Bayer, Astellas Pharma, Aurobindo Pharma, Ferring Pharmaceuticals, Salix Pharmaceuticals, Eli Lilly, Bristol-Myers Squibb, Boehringer Ingelheim. Major players are focused on new product launches and geographic expansions to increase their market share.
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