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Radiodermatitis Market will be Worth US$439.8 mn by 2024

05-24-2018 03:01 PM CET | Health & Medicine

Press release from: Transparency Market Research

Radiodermatitis Market will be Worth US$439.8 mn by 2024

Global Radiodermatitis Market: Research Analyst’s Findings

Strong and expanding prevalence of cancer is undeniable, but the failure of humanity to find an adequate therapy for the chronic disease ‘without side effects’ is another irrefutable reality. For now, cumulative daily doses of radiation therapy are used for cancer treatment, which causes a side-effect called radiodermatitis. Radiodermatitis significantly affects the patient’s quality of life by enticing debilitating pain and discomfort and can potentially hinder further treatment regimes. Thankfully, topical agents and dressings have been formulated that can efficiently negotiate with the repercussions of chemotherapy, and the market for radiodermatitis is flourishing.

According to the calculations of this business intelligence report, the demand in the global radiodermatitis market will increment at a CAGR of 3.93% during the forecast period of 2017 to 2024. Revenue-wise, the radiodermatitis market is estimated to be worth US$421.5 million by the end of 2024, swelling up from its evaluated worth of US$321.9 million as of 2017.

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According to the latest estimations by the American Cancer Society, there will be 21.7 million cases of cancer across the world by 2030. Owing to increased disposable income of urban populations and improving healthcare infrastructure in several emerging economies – substantially stronger pool of patients are expected to go through cancer treatment, which in turn will augment the demand in the radiodermatitis market. Industry-academia and industry-institute partnerships, innovations in product offering, and strengthening of distribution network by major manufacturers are some of the other factors foreseen to drive the radiodermatitis market. On the other hand, advent of equipment of radiation therapies such as intensity-modulated radiation therapy (IMRT) and proton therapy that impart fewer side effects is the prominent restraint over this market.

Hydrophilic Creams Market’s Key Product Sub-Segment

On the basis of product type, this report segments the radiodermatitis market into topical, dressings, and oral medication. The topical segment, which has been further sub-segmented into hydrophilic creams, corticosteroids, and others such as antibiotics, constituted for the most prominent chunk of demand in 2017, generating a revenue of US$225.8 million.

Over the course of the forecast period of 2017 to 2024, the demand for topical segment is projected to multiply at an above-average CAGR of 4.2%. Topical steroids have shown the ability to inhibit the upregulation of cytokines in response to radiation and their demand is proliferating. The strong demand for hydrophilic creams, which is estimated to a demand worth of US$233.2 million by 2024, is a reflection of its effectiveness in preventive care in initial stages of radiation dermatitis.

In comparison to hydrophilic creams and corticosteroids, the antibiotics sub-segment is showing slower growth rate due to improvement in treatment regime during the forecast period, necessitating less dependence on antibiotics. Moreover, several radiation dermatitis specific creams such as Radiation Rescue and StrataXRT are antibacterial in nature. Hence, preference for combination topical agents is likely to restrain the topical antibiotics segment.

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Radiodermatitis Market Segmentations

The oral medication segment has been bifurcated into corticosteroids and others such as oral analgesics and antibiotics, whereas the dressings segment has been classified into hydrocolloid, hydrogel, honey impregnated gauze, no sting barrier film, silicone coated dressing, and others such as silver leaf dressing and GM-CSF gauze. For each of the segment, the report includes figurative analysis on how the demand has evolved in the recent past and how it will shape in the near future. This report also gauges the potential of demand that is getting generated by the different distribution channels of online stores, retail pharmacies, and hospital pharmacy. This business intelligence report also contains a chapter on pipeline drugs, including a list of discontinued trials and open studies.

Vastly Populated Asia Pacific Most Lucrative Region

Geographically, Asia Pacific and Europe are the two regions with maximum potential, according to the analyst of this report. The Asia Pacific region has a significant pool of patients suffering from cancer as well as taking radiation therapy. Moreover, the basic preventive skincare practices such as washing skin with gentle soap and wearing loose clothing tend to be overlooked by the population in emerging countries. This further increases the need for radiation dermatitis care products. By the end of 2024, the Asia Pacific radiodermatitis market is estimated to be worth US$194.0 million, generating 46% of the total demand. The Europe radiodermatitis market is poised to attain a valuation of US$110.0 million.

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Smith & Nephew PLC, 3M Healthcare, Acelity, Molnlycke Health Care, and Convatec, Inc. are a few key companies in the global radiodermatitis market.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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