The Global Radiation Dermatitis Treatment Market is Anticipated to Witness Exponential Growth Due to Increased Incidences of Cancer Cases Worldwide
The Global Radiation Dermatitis Treatment Market is Anticipated to Witness Exponential Growth Due to Increased Incidences of Cancer Cases Worldwide
Blog Article
Radiation dermatitis treatment involves the management of side effects caused due to radiation therapy administered to cancer patients. Radiation damages the DNA of rapidly dividing cells such as skin cells and causes various skin problems such as dryness, itching, pain, blisters and ulceration. Treatment options for radiation dermatitis include corticosteroid creams and lotions, moisturizers, topical antibiotics, oral antibiotics and dressings. As the number of cancer patients undergoing radiation therapy is on the rise globally, the demand for radiation dermatitis treatment products is expected to surge substantially in the coming years.
The radiation dermatitis treatment market is estimated to be valued at USD 540.1 Mn in 2024 and is expected to reach USD 770.2 Mn by 2031, growing at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Key Takeaways
Key players operating in the radiation dermatitis treatment are 3M, BMG Pharma, Molnlycke Health Care, Smith & Nephew, DermaSciences, Alliqua Biomedical, Acelity and Intermed Pharmaceuticals.
The global Radiation Dermatitis Treatments Market provides significant opportunities such as untapped emerging markets, increasing adoption of novel treatment options and development of combination therapy products.
Major players are focusing on expansion in high growth regional markets through collaborations and acquisitions. For instance, 3M acquired Acelity to leverage its strong distribution network and commercial infrastructure globally.
Market drivers
Growing cancer incidence rates worldwide owing to changing lifestyle habits and increasing exposure to carcinogens are expected to drive the demand for radiation therapy and correspondingly for radiation dermatitis treatment.
It is estimated that over 1.8 million new cancer cases are diagnosed in the US annually, which is projected to increase further. This will fuel the need for effective radiation dermatitis treatment options.
Market restraints
High cost of advanced treatment products especially combination therapy may restrict their adoption in low income regions. This can hamper market growth to some extent. Also, limited awareness regarding radiation dermatitis symptoms and treatment options in developing nations poses a challenge.
Segment Analysis
The radiation dermatitis treatment market can be segmented into topical, oral, and dressings subsegments. The topical subsegment dominates the market as it is the first line treatment recommended for radiation dermatitis. Creams containing corticosteroids such as hydrocortisone are commonly prescribed to provide relief from inflammation and itching caused by radiation dermatitis. Oral medications are prescribed for more severe cases that do not respond to topical treatments. Dressings subsegment finds application in protecting radiated skin and aiding wound healing. Barrier dressings and hydrogel dressings are widely used dressing types.
Global Analysis
Regionally, North America dominates the radiation dermatitis treatment market due to high prevalence of cancer and readily available reimbursement scenarios for radiation therapy related medical conditions. The region is also an early adopter of advanced treatment procedures. Europe holds the second largest market share on account of growing awareness about treatment of side effects occurring from radiation therapy. However, the Asia Pacific region is expected to witness highest growth during the forecast period owing to rising healthcare expenditure, increasing cancer incidence rates, and expansion of private healthcare sectors in emerging nations such as India and China.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)