Market Overview:
The global 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 fissure treatment involves the application of topical medications or surgical procedures to heal tears or ulcers in the anal canal. It helps relieve pain and promote wound healing.
Market key trends:
One of the key trends in the anal fissure treatment market is the increasing dominance of chronic fissures that require surgical procedures for treatment. Chronic anal fissures make up around 80% of all cases requiring special treatments and surgeries such as lateral internal sphincterotomy. This is predominantly boosting the demand for surgical treatment segment. Furthermore, the rising preference for minimally invasive surgeries over conventional procedures for chronic anal fissures is also fueling the market growth.
SWOT Analysis
Strength: The rising prevalence of anal fissures and growing awareness about its treatment options are driving the market growth. Additionally, increasing FDA approvals for new drugs and treatment devices are further fueling the market.
Weakness: However, high costs associated with surgical procedures and lack of awareness about anal fissure in some developing regions can hamper the market growth.
Opportunity: Growing geriatric population prone to anal fissures presents significant growth prospects. Furthermore, ongoing R&D activities to develop new drugs with fewer side effects will create lucrative opportunities in the forecast period.
Threats: Nonetheless, social stigma associated with anal diseases and underreporting of anal symptoms can challenge the market proliferation to an extent. Lack of health insurance in some emerging nations is another concern area.
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 anal fissures and growing awareness about its treatment.
The global anal fissure treatment market size was valued at US$ 1,039.3 Mn in 2023 and is anticipated to reach US$ 1,510.8 Mn by 2030, expanding at a CAGR of 5.3% from 2023 to 2030. Increasing FDA approvals and growing adoption of non-surgical treatments are fueling the market growth.
Regional analysis:
North America dominated the global market in 2023 and is expected to maintain its lead over 2030. This is attributed to rising healthcare expenditure, availability of advanced treatment options, and growing awareness in the region. Asia Pacific is poised to witness fastest growth during the forecast period owing to expanding patient pool, improving healthcare infrastructure, and increasing healthcare spending in developing nations such as China and India.
Key players:
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, and Boehringer Ingelheim. These players adopt new product launches, mergers, acquisitions and licensing agreements to gain a competitive edge in the market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
