Hemorrhoid Treatment Devices Market Share

Hemorrhoid Treatment Devices Market Share Analysis

Hemorrhoids manifest as swollen veins situated inside the rectum or around the exterior of the anus. Predominantly, these conditions affect older individuals, primarily those aged 50 and above. The treatment of hemorrhoids involves various devices. Consequently, the increasing prevalence of hemorrhoids is directly linked to the rising population of older adults, contributing significantly to the expansion of the market for hemorrhoid treatment devices.

The global surge in the geriatric population serves as a pivotal factor propelling the growth of the market for hemorrhoid treatment devices. Highlighted by the World Health Organization, the proportion of individuals aged 60 and above in the global population is projected to nearly double, escalating from 12% in 2015 to an estimated 22% by 2050.

Forecasts indicate that by 2050, the worldwide geriatric population, categorized as individuals aged 60 years and older, is anticipated to reach 2 billion, marking a substantial increase from the 900 million reported in 2015. In 2018, approximately 125 million individuals were aged 80 years or older. Projections further illustrate that by 2050, China alone will accommodate nearly 120 million elderly individuals, with a staggering 434 million individuals in this age bracket worldwide.

Hence, the continuous expansion of the geriatric demographic is expected to serve as a significant catalyst fueling market growth during the evaluation period.