The hidradenitis suppurativa market is expected to grow USD 707.32 Million at a CAGR 4.50% during the forecast period 2022-2030.
The hidradenitis suppurativa market is expected to gain a market value of USD 843.60 million by 2030 at a CAGR of 5.4% over the forecast period of 2022-2030.
Hidradenitis suppurativa is a long-term skin condition marked by lumps in areas like the groin or armpits. The sweat glands become inflamed and infected, which leads to skin sores. Under the epidermis, pea to marble-sized lumps grow and drain fluid and can be uncomfortable. They typically develop in the groin, buttocks, and other areas where skin scrapes against the skin. Symptoms can be controlled with medication, corticosteroid injections, and occasionally surgery.
One of the main drivers of market expansion is the rise in the incidence of skin diseases. In addition, hair follicle obstructions, secondary infections, and irritation of specific sweat glands all support the growth of the hidradenitis suppurativa market. The market will also grow due to expanding awareness-raising campaigns by public and private organizations and increasing obesity incidence. According to WHO, in 2020, 39 million children under 5 years age were overweight or obese. Additionally, the market for hidradenitis suppurativa will grow due to increased disposable income and changing lifestyles of individuals. Along with this, an aging population and an increase in smoking rates will accelerate the market's growth. However, the market for hidradenitis suppurativa will be challenged by the absence of healthcare infrastructure in developing nations and delays in treatment completion that may be caused by ignorance of the condition.
Healthcare systems worldwide have been badly disrupted due to the financial crisis and the decision to prioritize COVID-19-related therapies while delaying the supply of specialty healthcare. For several reasons, patients could not seek treatment for hidradenitis suppurativa, including difficulty finding a doctor, worry about spreading infection, and inability to continue therapies and necessary procedures due to pandemic restrictions. Such factors were detrimental to the hidradenitis suppurativa industry during the pandemic situation.
With augmenting incidences of several skin diseases, the hidradenitis suppurativa market is likely to flourish based on the predictions by the industry experts that have been laid for the ongoing forecast period that will be ending in 2028. The FDA is approving the clinical trials and drugs processes which is further contributing to the global hidradenitis suppurativa market growth and expansion within the global premises. The market is also likely to expand owing to the introduction of trends related to new treatment and drug options that are coupled with the increasing knowledge about skin diseases and other healthcare issues. The increasing degree of global warming across worldwide locations has resulted in the enhancement of environmental changes like pollution and depletion of the ozone layer. This is further having a huge impact on the skin of the global target audience, thereby fueling the hidradenitis suppurativa market growth throughout the appraisal period of 2017-2023.
The hidradenitis suppurativa market trends are witnessing a high cost of treatment and unmet medical needs and drug resistance are some of the top barriers considered to disrupt the market growth to a great extent. The lack of availability of equipment to meet the rising medical issues and needs of the market are the rising concerns for the market on their way towards global hidradenitis suppurativa market growth and expansion during the forecast period that will be ending in 2023.
The hidradenitis suppurativa market is witnessing a rapid degree of urbanization and rise in the target audience, as a part of the global population that is being coupled with the improving economic condition, and other factors like the rise in the quality of healthcare. These are reliable market factors that are offering an impetus to the hidradenitis suppurativa market across the market. The advancement of technological movements owing to the substantial investments in research and development activities are considered to propel the market growth throughout the estimated period.
The hidradenitis suppurativa market size estimation can be studied by having an idea about the market segmentation. The hidradenitis suppurativa market has been segmented based on skin condition, treatment, and end-user.
By mode of skin condition
The hidradenitis suppurativa market has been segmented into skin conditions and includes problems like folliculitis, pimples, boils, deep acne, and others.
By mode of treatment
The hidradenitis suppurativa market has been segmented on the market treatment and includes surgery, medications, photodynamic therapy (PDT), laser treatment, amongst others. Among these, the surgical removal sub-segment of the market is considered as a preferred mode of treatment. However, the disease might relapse into other areas as well.
By mode of end-user
The hidradenitis suppurativa market has been segmented based on the end-user industry and is inclusive of dermatology clinics, hospitals, academic institutes, medical research centers, and others.
North America holds the largest market share because of the arrival of factors like the increasing cases of skin diseases and related medical complications. The European hidradenitis suppurativa market is the second largest region to grow. The west European countries like Germany, France, and the UK are expected to hold the largest market share. There has been a rise in the prevalence of hidradenitis suppurativa market growth.
The key hidradenitis suppurativa market players are as follows:
The hidradenitis suppurativa market report has been prepared to carry a deep market analysis of the trends that are prevailing as a part of the market in the global market premises. The report discusses the outbreak of the pandemic on the market operations and how the market is tackling it. The report also discusses the recent developments that have been undertaken by the market players in the global industry during the forecast period that will be ending in 2023.
|Market Size||USD 707.32 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Skin conditions, Treatment, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||AbbVie Inc. (US), Allergan (Republic of Ireland), AstraZeneca (UK), GlaxoSmithKline plc. (UK), Johnson & Johnson Services, Inc. (US), Merck & Co., Inc. (US), Pfizer Inc.(US), and others|
|Key Market Opportunities||
|Key Market Drivers||
The Predicted CAGR would be 4.50% During The Forecast Period of 2022-2030.
The FDA Approval Rate For Drugs And Treatment Would Trigger Market Growth.
The Market Valuation would be USD 707.32 Million.
The End Users Are Medical Research Centers, Dermatology Clinics, Hospitals, Academic Institutes, And Others.
The North American Hidradenitis Suppurativa Market has the upper hand.