Global Hemorrhoid Drugs Market Size is growing at a CAGR of 4.21% from 2023 to 2033
Category: HealthcareGlobal Hemorrhoid Drugs Market Size is growing at a CAGR of 4.21% from 2023 to 203
According to a research report published by Spherical Insights & Consulting, the Global Hemorrhoid Drugs Market Size is expected to hold a significant share by 2033, at a CAGR of 4.21% during the forecast period 2023-2033.
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Browse key industry insights spread across 249 pages with 120 Market data tables and figures & charts from the report on the "Global Hemorrhoid Drugs Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Creams and Ointments, Suppositories, Sprays, and Others), By Drug Class (Local Anesthetics, Non-Steroidal Anti-Inflammatory Drugs, Corticosteroids, and Others), By Distribution Channel (Online Pharmacies, Drug Stores and Retail Pharmacy, and Hospital Pharmacies), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/hemorrhoid-drugs-market
The market for hemorrhoid drugs involves drug development, production, and distribution for managing swollen veins in the lower anus and rectum. Hemorrhoids are irritating due to age, pregnancy, and constipation. With a global prevalence of 4.4%, hemorrhoid disease is the fourth leading outpatient gastrointestinal diagnosis in the US. The demand for hemorrhoid medications is driven by rising public awareness about gastrointestinal health and available treatments. The hemorrhoid treatment market is growing due to a larger patient population, improved diagnosis, and better treatment. Factors like sedentary lifestyles, reduced fiber intake, infrastructure development, poverty, poor hygienic conditions, and ease of use of over-the-counter medications contribute to growth. However, the availability of surgical tools and devices impedes the growth of the market.
The creams and ointments segment held the greatest share in 2023 and is predicted to grow at a significant CAGR during the predicted period.
Based on the product type, the global hemorrhoid drugs market is categorized as creams and ointments, suppositories, sprays, and others. Among these, the creams and ointments segment held the greatest share in 2023 and is predicted to grow at a significant CAGR during the predicted period. The demand for creams and ointments, rising global incidence, and more awareness efforts that encourage accessibility and simplicity of use are all contributing factors to the segment’s growth.
The corticosteroids segment accounted for the greatest share in 2023 and is expected to grow at a substantial CAGR throughout the projected timeframe.
Based on the drug class, the global hemorrhoid drugs market is categorized into local anesthetics, non-steroidal anti-inflammatory drugs, corticosteroids, and others. Among these, the corticosteroids segment accounted for the greatest share in 2023 and is predicted to grow at a substantial CAGR throughout the projected timeframe. Corticosteroids, like hydrocortisone, relieve swelling, redness, and itching by triggering natural skin substances, promoting the use of corticosteroid treatments and boosting the sector growth.
The drug stores and retail pharmacy segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the global hemorrhoid drugs market is categorized as online pharmacies, drug stores and retail pharmacy, and hospital pharmacies. Among these, the drug stores and retail pharmacy segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The leading dominance of the over-the-counter hemorrhoid segment is due to the wide range of products, rising patient preference for self-treatment, and the increasing number of OTC product releases by major players.
North America is expected to hold the greatest share of the global hemorrhoid drugs market over the forecast period.
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North America is expected to hold the greatest share of the global hemorrhoid drugs market over the forecast period. This is ascribed to the rise in the market for hemorrhoid medications, the existence of statistical tools and cutting-edge, standardized technology, as well as government programs and efforts.
Asia Pacific is predicted to hold the fastest-growing region of the global hemorrhoid drugs market throughout the estimated period. This is attributed to the rise in research and development as well as the growing percentage of FDA approvals.
Major key players in the global hemorrhoid drugs market are Lupin, Sanofi, Haleon Group of Companies, Sun Pharmaceuticals, Bayer AG, Abbott, Cipla, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In June 2023, Citius Pharmaceuticals announced the results of its Phase 2b clinical study of Halo-Lido (CITI-002), a topical formulation for relief of hemorrhoid symptoms. The high-dose formulation significantly reduced symptom severity compared to individual components, with no significant adverse events. Citius plans to schedule an end-of-phase meeting with the FDA.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global hemorrhoid drugs market based on the below-mentioned segments:
Global Hemorrhoid Drugs Market, By Product Type
- Creams and Ointments
- Suppositories
- Sprays
- Others
Global Hemorrhoid Drugs Market, By Drug Class
- Local Anesthetics
- Non-Steroidal Anti-inflammatory Drugs
- Corticosteroids
- Others
Global Hemorrhoid Drugs Market, By Distribution Channel
- Online Pharmacies
- Drug Stores and Retail Pharmacy
- Hospital Pharmacies
Global Hemorrhoid Drugs Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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