Wilmington, Delaware, United States, Transparency Market Research Inc.: According to the report, the global radiodermatitis market was valued at US$ 334.2 Mn in 2018 and is projected to expand at a CAGR of 3.3% from 2019 to 2027.
Wilmington, Delaware, United States, Transparency Market Research Inc.: According to the report, the global radiodermatitis market was valued at US$ 334.2 Mn in 2018 and is projected to expand at a CAGR of 3.3% from 2019 to 2027.
Rise in cancer incidence across globe, innovation leading to product offerings, growing partnerships and agreements amongst companies , collaboration between industry academia & industry-institutes, rising merger & acquisitions, entry of new players, and increase in access to health care are projected to drive the global Radiodermatitis Market .As per research, radiodermatitis likely to occur in more than 50% of the patients who underwent radiation therapy for cancer and it could rise up to 95% also.
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Rise in cancer incidence across globe and growing co-morbid conditions: Key Drivers
According to the WHO, the number of new cancer cases is expected to rise to 22 million by 2032, and 9.6 million deaths are estimated in the year 2018. As per International Agency for Research on Cancer (IARC), the global cancer burden increases with 18.1 million cases estimated new cases each year. In addition, the rate of certain types of cancers such as breast cancer and head and neck cancer is projected to escalate. This is attributable to faulty lifestyle factors such as obesity for breast cancer, and smoking for head and neck cancers.
Moreover, the aforementioned cancers are treated with radiation at site. Hence, patients suffering from these cancers are more likely to develop radiation-induced dermatitis. Therefore, the overall spiral in cancer cases coupled with a surge in specific cancers due to faulty lifestyle is likely to propel the radiodermatitis market. As per WHO, statistics, growing tobacco consumption and alcohol abuse accounts for 40% of the cancer burden across European countries. Amongst which 20% of the cancer lead to deaths in the European region.
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Increasing focus on research to find a standard pertinent treatment is also expected to propel the radiodermatitis market. The lack of standard care products in the market makes it a highly opportune condition for players to set their innovative product ideas on the path of commercial success. Radiodermatitis is a skin condition which affects cancer patients undergoing radiation therapy or combination of chemotherapy and radiation therapy.
Rise in the number of people suffering from diabetes and obesity rapidly puts them at an added risk of developing cancer. This factor is likely to drive the need of the radiation therapy and boost the radiodermatitis incidences. Old age and obesity are also risk factors for cancer, which is likely to rise the demand of radiodermatitis drugs. According to the CDC’s (Centers for Disease Control), in year 2018, the diabetes cases have risen to 34.2 million, which is likely to grow to in the world by 2030. This escalation will indicate that there is a larger pool of patients likely to develop cancer and they would have a higher chance of radiation-induced skin damage due to co-morbid condition.
Product sales in the radiodermatitis market naturally tend to be higher in regions where the number of cancer patients undergoing radiation therapy is high. Asia Pacific leads the world in the number of cancer cases and in the number of patients undergoing combination of chemotherapy and radiation therapy, or radiation therapy by itself. The reach of a number of novel products developed in North America and Europe is gradually expanding in these regions as well as the Middle East & Africa via partnerships for distribution. This is likely to propel future demand for radiodermatitis care products.
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Higher Radiodermatitis Cost likely to Hamper Market
The burden of cost of cancer treatment is a concern in developing nations, where high cost of therapy leads to constraints in financial resources. Hence, high cost of products, especially dressings such as honey-impregnated dressings and silicone dressings, is likely to restrain the market. Moreover, availability of low cost locally-manufactured dressings in the emerging economies is expected to hamper the growth of branded and expensive dressings.
Moreover, In the United States, the treatment of Cancer drugs incurred expenses around US$100,000 and as per research, 63% of the cancer patients face financial crises during the course of the treatment. Thus, growing cost are likely to hamper the radiodermatitis market in coming years.
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Global Radiodermatitis Market: Competitive Landscape
This report profiles major players in the global radiodermatitis market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. The global radiodermatitis market is fragmented, with the presence of a number of international, regional players as well as local players. Various players operating in the global radiodermatitis market are
- 3M
- BMG Pharma
- ConvaTec Inc
- Integra Life Sciences
- Intermed Pharmaceuticals
- Molnlycke Health Care AB
- Smith & Nephew
- Stratpharma AG.
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