Anal Fissure Treatment Market Strategic Insights and key Business Influencing Factors

 

The anal fissure treatment market is expected to thrive owing to the booming pediatric and geriatric patient pool. Advances in technology coupled with various treatment options is likely to lead to a windfall for the market over the forecast period. High incidence of constipation is predicted to drive the need for anal fissure treatments. This is backed by vulnerability of the elderly which find it difficult to pass stools properly. According to the American Gastroenterological, nearly 33% of Americans above 60 experience the condition.

The global anal fissure treatment market is expected to rise and touch a valuation of USD 2,526.5 million by 2023, at a 7.6% CAGR during the forecast period (2018-2023). Anal fissures are small tears near the mucosal lining of the anus. Deeper cuts may take a combination of oral and topical medicine to alleviate the pain.Unhealthy lifestyles adopted by patients is likely to cause the condition and boost the market demand. Popularity of over-the-counter (OTC) drugs may spur the market growth owing to need for rapid treatment options. Drug manufacturers have shifted their focus to developing economies which offer lucrative growth avenues.



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Segmentation:

The anal fissure treatment market is segmented by treatment type, route of administration, and end-user.

By treatment type, oral held 78.3% share of the anal fissure treatment market in 2017, followed by topical (16%) and others (5.7%). Oral segment had a valuation of USD 1,284.1 million in 2017 and inflate to USD 2,004.2 million by 2023. Oral medicines include calcium channel blockers and pain-relieving agents such as Tribenzo and LOMOTIL drugs. On the other hand, topical medications can generate close to USD 405.8 million by 2023 at a CAGR of 7.7% during the assessment period.

By route of administration, medications held close to 86.1% share of the market in 2017, followed by surgery (13.9%). Surgery has a high success rate compared to other forms of medical therapy but are considered expensive. This segment can exhibit 6.9% CAGR over the assessment period to attain a value of USD 339.5 million by 2023. On the other hand, medications can generate close to USD 2,186.9 million by 2023 at a CAGR of 7.7% during the forecast period. This can be attributed to various topical or oral medications proposed to patients as alternatives to surgery.

By end-user, hospitals & clinics held the largest market share in 2017 owing to the growing patient visits for anal fissure treatments. Improved healthcare facilities in developing countries are likely to balloon the segment valuation to USD 1,717.1 million by 2023. Research & academic institutes can exhibit a 7.7% CAGR during the forecast period to generate close to USD 617.6 million by 2023.

Competitive Analysis:

Major names operational in the anal fissure treatment market are AstraZeneca (U.K.), Abbott Laboratories (U.S.), Pfizer Inc. (U.S.), GlaxoSmithKline Plc (U.K.), Eisai Co. Ltd. (Japan), Cigna (U.S.), Bayer AG (Germany), Taro Pharmaceutical Industries Ltd. (Israel), Allergan Inc. (U.S.), Valeant Pharmaceuticals International Inc (Canada), Teva Pharmaceutical Industries Ltd. (Israel), and Cook (U.S.).

Regional Analysis:

Region-wise, the anal fissure treatment market includes Americas, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

Americas accounted for 39.1% market share in 2017, followed by Europe (26.7%) and APAC (20%). The Americas are predicted to touch a valuation of USD 1,000.6 million by 2023 at a CAGR of 7.8% over the forecast period. This can be credited to rising number of cases of inflammatory bowel disease among the American populace.

The Europe anal fissure treatment market is likely to attain close to USD 678.1 million by 2023. This can be credited to sedentary lifestyles and improper eating habits of residents in the region. In addition, cases of chronic constipation and food allergies among children can elicit market demand.

The APAC region is projected to register 7.9% CAGR during the forecast period. This can be attributed to new product launches by pharmaceutical and biotechnology companies. The region can touch a size of USD 513.9 million by 2023.

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