Pune, India, October, 2022 /press release/- Market Research Future Published a Half-Cooked Research Report on Hidradenitis Suppurativa Market Research Report.
Hidradenitis Suppurativa, a rare, inflammatory skin condition that begins as small and painful pimples on the skin is most common between the age group of 20-40 years. The prevalence of this medical condition is three times more common in females than in males. Many novel medicines & therapies have been developed to treat symptoms of this condition which, in turn, are escalating the market growth of Hidradenitis Suppurativa treatments making its market a well-developed space on the global platform.
Acknowledging the kind of expansion the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global Hidradenitis Suppurativa market will reach USD 843.60 million by 2020, registering approximately 5.4% CAGR throughout the forecast period (2022 – 2030).
Increasing cases of various inflammatory skin diseases that may lead to Hidradenitis Suppurativa is a primary driving force expanding the market size its treatments. Simultaneously, FDA approvals for drugs and clinical trials are another major factor supporting the growth of the market.
The well-spread awareness about this disease and the availability of its treatments alongside the emergence of new drugs and treatment options is fostering the market growth over the past few years. Also, the environmental changes such as depletion of ozone layers and pollution are predominantly fuelling the market growth, increasing the occurrences of Hidradenitis Suppurativa.
On the flip side, factors like unmet medical needs & drug resistance along with the treatment cost obstruct the market growth. However, technological advancements took place in the medical science due to the substantial investments transpired in the R&D activities propel the market growth of the disease, bringing about the innovation & development of the medical devices, treatments & medicines.
Additionally, increasing population and growing urbanization along with the improving economic conditions that are enabling access to the quality and improved healthcare are expected to provide impetus to the growth of the Hidradenitis Suppurativa market.
Hidradenitis Suppurativa Market - Segmentations
MRFR has segmented its analysis into four key dynamics for enhanced understanding.
By Skin Conditions : Pimples, Folliculitis (Bacterial Folliculitis, Hot Tub Folliculitis (Pseudomonas Folliculitis), Barber's Itch (Pseudofolliculitis Barbae), Pityrosporum Folliculitis, and others), Deep-Acne (Cysts and Blackheads), and Boils (Furuncle Or Carbuncle, Cystic Acne, Pilondial Cyst, and others.), among others.
By Treatments : Medications (Antibiotics, Antiandrogens, Immunosuppressive Drugs, Hormones, Pain Medication, Zinc Supplements, Sulphones, Retinoids, and others.), Surgery (Punch debridement, Incision and drainage, surgical removal, issue-sparing excision with electro-surgery, and others.), Laser Treatment, and Photodynamic Therapy (PDT), among others.
By End-users : Hospitals, Dermatology Clinics, Medical Research Centers, and Academic Institutes, among others.
By Regions : Europe, North America, APAC, and the Rest-of –the-World.
Global Hidradenitis Suppurativa Market -
Globally, North America leads the global Hidradenitis Suppurativa market with the largest market share and is estimated to create a significant revenue pocket over the forecast period as well. Factors driving the market growth include a well-developed healthcare sector and the huge patient population suffering from various skin diseases, Allergy andrelated medical complications.
Besides, the changing lifestyle and increasing expenditures on cosmetics are some of the factors supporting the market growth. The widened uptake of new technologies especially in the US is key driving factor acting as a tailwind to the market growth.
Expected to be the second-largest market for Hidradenitis Suppurativa, the Europe market is estimated to grow at a strong CAGR. The resurging economy in the region is undoubtedly acting as a key force pushing up the growth of the regional market.
Also, availability of funds for research, a vast patient population and increasing teenage population within the region are some of the key factors supporting the market growth in the region. West European countries like France, Germany, and the UK are accounting for significant contributors to the regional market, holding considerable market shares.
The Asia Pacific market for Hidradenitis Suppurativa is projected to emerge as a promising market, growing rapidly over the forecast period (2017 to 2023). Markets in India and China backed by the vast population, and the availability of low-cost medications for the treatment are leading the regional market.
Furthermore, the increasing prevalence of Hidradenitis Suppurativa and rapidly increasing healthcare sector are some of the factors propelling the market growth in the region. Simultaneously, the vast unmet needs are expected to provide impetus to the market growth over the assessment period.
Whereas, due to the presence underdeveloped economies, lack of healthcare services and stringent government policies especially in the African region, the MEA market for Hidradenitis Suppurativa is estimated to observe a sluggish growth during the review period (2017 to 2023). On the other hand, the GCC countries (Middle Eastern) such as UAE, Saudi Arabia, and Kuwait will boost the market growth with their well-developed healthcare sector and the colossal healthcare expenditure.
Global Hidradenitis Suppurativa Market - Competitive Analysis
The global market for Hidradenitis Suppurativa appears intensely competitive with the several large and small players forming a competitive edge in the market incorporating strategic partnership, collaboration, acquisition, expansion, and technology launch. Significant investments are transpired in clinical trials and the development of effective drugs.
Allergan (Republic of Ireland), AbbVie Inc. (US), AstraZeneca (UK), Johnson & Johnson Services, Inc. (US), GlaxoSmithKline plc. (UK), Merck & Co., Inc. (US), and Pfizer Inc.(US) are some of the leaders in the global Hidradenitis Suppurativa market.
Industry/Innovation/ Related News:
September 26, 2018 - XBiotech USA, a company involved in the development of next generation monoclonal antibodies announced the granting of the European patent for the treatment of inflammatory skin diseases including Hidradenitis Suppurativa.
September 24, 2018 - XBiotech USA, a company involved in the development of next generation monoclonal antibodies announced the completion of U.S. enrolment in phase 2 multicenter study evaluating bermekimab in patients with Hidradenitis Suppurativa.
October 01, 2018 - IPSOS healthcare company (Paris), partnering with pharmaceutical, biotech, and medical device manufacturers to inspire better healthcare has launched a syndicated Channel Optimisation Study for seven Autoimmune disease areas, combining actual prescribing data from its Global Therapy Monitors series with analysis of patients' and doctors' media use and engagement.
The disease areas covered are Hidradenitis Suppurativa, Psoriatic Arthritis, Rheumatoid Arthritis, Psoriasis, Ankylosing Spondylitis, Non-Radiographic Axial Spondyloarthritis, and Inflammatory Bowel Disease.