Anal Fissure Treatment Is Estimated To Witness High Growth Owing To Rising Prevalence Of Anal Fissures
Market Overview:
Anal fissures are small tears in the lining of the anal canal and usually develop as a result of passing hard stools. The common treatment options available for treating anal fissures include topical agents such as nitroglycerin ointment, botulinum toxin injections, and surgery. The topical agents segment dominates the market due to ease of use and minimal side effects associated with these drugs.
Market Dynamics:
The anal fissure treatment market is driven by the rising prevalence of anal fissures worldwide. For instance, according to the estimates of Mayo Clinic, around 3-5% of people experience anal fissures in their lifetime. Furthermore, constipation, hard stools, and delivery during childbirth can increase the risk of developing anal fissures, thereby propelling the market growth. Another key driver of the market is the rising adoption of minimally invasive treatment options such as botulinum toxin injections. These injections provide faster relief and healing of anal fissures with lesser side effects as compared to surgery. However, the high cost of prescription medicines for anal fissure treatment is a major restraint for the market.
The global Anal Fissure Treatment Market Size 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.
SWOT Analysis
Strength: Anal fissure treatment market has few approved drugs which can effectively treat anal fissures. Calcium channel blockers such as diltiazem and nitroglycerin not only relieve pain but also help heal fissures by relaxing muscles and improving blood flow. Surgical procedures involve lateral internal sphincterotomy which has high success rates of over 90% and provides long lasting relief from symptoms.
Weakness: Traditional treatment options take time of 4-6 weeks for complete healing of anal fissures which causes prolonged pain and discomfort to patients. Recurrence rate of anal fissures after initial treatment is around 30% requiring multiple therapies. Adverse effects of drugs such as headaches and gastrointestinal issues discourage few patients.
Opportunity: Rising incidence of conditions causing anal fissures such as constipation provides ongoing treatment demand. Innovation of advanced drugs, devices and minimally invasive procedures can address shortcomings of current therapies and drive market growth.
Threats: Stringent regulatory approvals for new treatments and procedures delays their commercialization. Patent expiries of blockbuster drugs increase competition from generics eating into revenues of major players.
Key Takeaways
The global Anal Fissure Treatment market is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing incidence of conditions causing fissures such as constipation.
Regional analysis: North America dominated the anal fissure treatment market in 2023 accounting for revenue share of over 35% owing to developed healthcare infrastructure and availability of advanced treatment options. Asia Pacific is anticipated to witness fastest growth rate during the forecast period supported by expanding medical tourism industry and large patient population base suffering from anal fissures.
Key players operating in the anal fissure treatment market are 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.
Read More: https://blogger-veritas.blogspot.com/2023/11/topical-drugs-is-fastest-growing.html
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