Bulk of Radiation Dermatitis Treatment Market Growth Spurred by Topical Approaches: Fact.MR
Published : 19 May 2021 Industry: Healthcare
Fact.MR’s recent report on the global radiation dermatitis treatment market forecasts a healthy growth pace, expecting a revenue share of nearly US$ 700 million by 2031, with an estimated CAGR of around 5% throughout the 2021-2031 forecast period. Increased frequency of radiation-based cancer treatment is attributed to be the chief growth driver for this market.
According to the report, the market accrued significant past gains, reaching around US$ 400 million in value as of 2019. Growth is especially forecast to remain strongest across Asia Pacific, with countries such as China and India emerging at the forefront amid swift advancements in oncology. Approaches such as Traditional Chinese Medicine (TCM) are grabbing major eyeballs.
Manufacturers are investing in a slew of innovative treatment approaches, including the introduction of film-forming gels. For instance, Switzerland-based Stratpharma has introduced its StrataXRT® film-forming wound dressing gel that easily spreads across the affected site in minimal quantities. StrataXRT film-forming gel dries as a thin, flexible, and protective layer, which is gas permeable, waterproof, inert, and devoid of any measurable pH value. The formulation promotes a moist wound healing environment. Companies are taking cues from such developments to manufacture film-forming gels that provide symptomatic relief from acute inflammatory response, discomfort, and itching.
Key Takeaways from Market Study
- By product, demand for topical hydrophilic creams expected to incline massively through 2031
- Topical corticosteroid medications to witness impressive uptake over coming years
- By distribution channel, retail pharmacies to remain dominant, online pharmacies surging in popularity
- The U.S. to emerge as a potentially lucrative market amid high skin cancer prevalence and treatment rates
- India to emerge as a promising market for radiation dermatitis treatment in future
- High adoption of Traditional Chinese Medicine (TCM) to elevate China’s growth prospects
“Multiple wound care and management practices are spurring innovations in the radiation dermatitis treatment domain, prompting key market players to introduce highly novel therapeutic approaches, widening growth prospects,”says a Fact.MR analyst.
Prominent radiation dermatitis treatment players include 3M Company, Molnlycke Health Care AB, Smith & Nephew Plc, Integra Lifesciences Holdings Corporation, Intermed S.A., ConvaTech Group Plc, and BMG PHARMA S.p.A, among others. Major expansion strategies involve new product launches, acquisitions, and collaborations.
- In February 2020, Integra Lifesciences launched the AminoExcel® Plus Placental Allograft Membrane, an advanced wound care offering to support soft tissue repair. AmnioExcel Plus is a next generation, thicker, tri-layer, non-side specific allograft consisting of amnion-chorion-amnion layers that aids in creating an environment to help close complex wounds.
- In January 2020, ConvaTech Group released the ConvaMaxTM superabsorber wound dressing used for the management of highly exuding wounds, including leg ulcers, pressure ulcers, diabetic foot ulcers and dehisced surgical wounds. The product helps manage excess moisture to help protect skin integrity, available in silicone adhesive and non-adhesive forms.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the radiation dermatitis treatment market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (oral medication, topical, and dressings) and distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies) across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Healthcare