Radiodermatitis Market to Reach US$ 421.5 Million in 2024; Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024: Transparency Market Research

Sep 09, 2016, 07:30 ET from Transparency Market Research

ALBANY, New York, September 9, 2016 /PRNewswire/ --

The global radiodermatitis market is consolidated, with the top five players accounting for a share of just over 47% in 2015. These are 3M Healthcare, Smith & Nephew plc, Molnlycke Health Care, Acelity, and Convatec, Inc. Transparency Market Research finds that success in this market is dependent on the ability of pharma and medical device companies to develop innovative products that can address unmet consumer needs and also help differentiate the company from its competitors.

Stratpharma AG, for instance, launched the StrateXRT in 2016 - a class 1 wound dressing listed with the US FDA and a medical device registered with the European CE mark. This novel and flexible wound dressing is designed for the prevention as well as treatment of radiation dermatitis.

The opportunity in the global radiodermatitis market was worth US$299.6 mn in 2015 and, registering a CAGR of 3.9% from 2016 to 2024, will be worth US$421.5 mn by 2024.

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Multichannel Distribution an Effective Approach in Radiodermatitis Market 

Topical agents are the most preferred and prescribed products in the radiodermatitis market. Accounting for a share of just under 70% in 2015, the revenue generated by this segment is projected to cross US$300 mn by 2024. The topical segment is anticipated to register a 4.2% CAGR during the forecast period, higher than any other product segment. The oral medication segment holds a negligible share in the global radiodermatitis market and is anticipated to further lose market share by 2024.

By distribution channel, the retail pharmacy store segment led the radiodermatitis market in 2015, closely followed by the online store segment. TMR finds that on the whole, a multichannel approach works increasingly well in this market owing to the nature of the onset of radiodermatitis, which can occur either during or after radiation therapy.

Geographically, Asia Pacific led the global radiodermatitis market in 2015, accounting for a share of over 45% that year. This region, along with Latin America, are both anticipated to register a CAGR of 4.0% from 2016 to 2024, emerging as two of the most lucrative markets.

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Innovation in Product Offerings a Key Growth Driver 

The World Health Organization states that the number of new cancer cases worldwide is projected to rise from 14 million per year in 2012 to 22 million by 2032. Cancer patients are more likely to develop radiation-induced dermatitis owing to frequent radiation treatments. "Unhealthy lifestyle factors, such as obesity and smoking, aggravate the rate of cancer incidence and this will further boost the prevalence as well as market for radiodermatitis," the author of the study finds.

The global market for radiodermatitis is also fueled by the rising innovation in product offerings. "Companies have been increasingly focused on churning out innovative products in order to fill the gap of unmet needs in the market," the lead analyst observes. The painful condition of the patient and poor quality of life has been compelling patients to opt for as many new and different treatment options as possible and this acts as a driving factor for drug and device manufacturing companies.

This review is based on the findings of a TMR report titled "Radiodermatitis Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."

Browse Regional PR: http://www.europlat.org/radiodermatitis-market.htm

Global Radiodermatitis Market, by Product 

  • Topical
    • Corticosteroids
    • Hydrophilic Creams
    • Others (topical antibiotics)
  • Oral Medication
    • Corticosteroids
    • Other (oral analgesics, antibiotics, etc.)
  • Dressings
    • Hydrogel
    • Hydrocolloid
    • No Sting Barrier Film
    • Honey Impregnated Gauze
    • Silicone Coated Dressing
    • Others (GM-CSF gauze, silver leaf dressing, etc.)

Global Radiodermatitis Market, by Distribution Channel 

  • Hospital Pharmacy
  • Retail Pharmacy Store
  • Online Store

Global Radiodermatitis Market, by Geography 

  • North America
    • U.S.
    • Canada
  • Asia Pacific
    • China
    • Japan
    • Rest of APAC
  • Europe
    • U.K.
    • Germany
    • Rest of Europe
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • UAE
    • South Africa
    • Rest of Middle East & Africa

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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