Anal Fistula Treatment Market is Anticipated to Reach US$ 800 Mn by 2026

Transparency Market Research (TMR) has published a new report titled, “Anal Fistula Treatment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global anal fistula treatment market was valued at US$ 550 Mn in 2017 and is projected to expand at a CAGR of 4.0% from 2018 to 2026. Rise in incidence of inflammatory bowel diseases is anticipated to propel demand for therapies used in the management of these diseases from 2018 to 2026.

Increase in the number of cases of inflammatory bowel diseases (IBD) such as Crohn’s disease and ulcerative colitis across the world is a significant economic burden on the health care systems in several countries. Around 0.3% people in the industrialized countries have IBD. A report published in the Crohn’s & Colitis Foundation of America (CCFA) stated that nearly 1.6 million people in the U.S were affected with IBD in 2014, with 70,000 new cases reported each year. Of the total number of people with IBD in the U.S., 780,000 people had Crohn’s disease, while 907,000 had ulcerative colitis.

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The number of new cases reported is expected to rise in developing countries as compared to developed countries owing to western dietary patterns, increase in use of antibiotics, surge in exposure to pollution, and improvement in hygiene. Countries such as Japan, India, and China witnessed significant increase in the incidence of these conditions. Increase in the patient population is expected to drive demand for surgical as well as non-surgical interventions for the treatment of anal fistula. This in turn is likely to boost the growth of the market during the forecast period.

Ongoing efforts by major biopharmaceutical and medical device companies to launch novel products and therapies for the treatment of anal fistulae in patients are the other factors contributing to the growth of the market. Companies are increasingly adopting non-surgical methods for the treatment of anal fistula due to the significant benefits these offer. Non-surgical methods such as fibrin glue injection, adipose-derived stem cells therapy, and collagen paste involve usage of sphincter-conserving treatment techniques that help treat fecal incontinence caused due to surgical methods and have reduced recurrence rate in the treatment of complex anal fistulae.

In December 2017, TiGenix NV and Takeda Pharmaceutical Company Limited announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) provided a positive opinion recommending the marketing authorization for its investigational compound Cx601 (darvadstrocel). Recommendation from regulatory agencies paves the way for introduction of the novel and minimally invasive alternative treatment option involving the use of allogeneic stem cell therapy in the management of complex fistula. However, the significant cost burden on patients due to high cost of surgery and post-operative treatment and lack of awareness about the condition are the major restraints of the market.

Intersphincteric Fistula Segment to Account for Major Share

The intersphincteric fistula segment is likely to account for significant share of the market by 2026. The others segment held 3.5% market share in 2017. The segment is projected to lose market share during the forecast period due to less prevalence of sub mucosal anal fistulae globally.

Hospitals & Ambulatory Surgical Centers to Capture Significant Market Share

The hospitals & ambulatory surgical centers segment accounted for major market share in 2017, as hospitals are sole providers of anal fistula surgical treatment in several developing countries and minimally invasive treatment procedures are typically performed in ambulatory surgical centers in some of the developed countries.

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Asia Pacific to be Fastest Growing Market

North America accounted for largest share of the global anal fistula treatment market in 2017. Considerable market share of the region is attributed to large patient population with inflammatory bowel diseases, early adoption of new technologies, and high health care expenditure by the public and private sectors in the U.S. Rise in incidence of conditions such as Crohn’s disease in countries in Asia Pacific such as Japan, India, and China and increase in awareness about these debilitating conditions are expected to propel the anal fistula treatment market during the forecast period.

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Robinson
Robinson
Robinson is a regular contributor to News Description, His excellence, and experience in business intelligence makes him a successful writer beside online news guru Robinson also contribute to various online blogs

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