December 8, 2024

The Demand for Radiodermatitis Treatment Options is Anticipated to Openup the New Avenue for Radiodermatitis Market

Radiodermatitis

The Radiodermatitis Market is estimated to be valued at US$ 407.2 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Radiodermatitis is a chronic skin reaction caused due to radiation therapy for cancer treatment. It manifests as rashes, irritation and inflammation of the skin in areas exposed to radiation. Products used for treatment of radiodermatitis include topical agents such as hydrogel, cream, gel, oral mucositis dressings and hydrocolloid dressings. Hydrogel dressings form a protective barrier on skin and maintain a moist environment which aids healing. Creams are anti-inflammatory and antimicrobial in action. Dressings absorb wound exudates and protects the wound. With innovations in treatment options, radiodermatitis management has improved significantly.

Market Dynamics:

Growing cancer patient population globally is a key driver for the radiodermatitis market. According to WHO, cancer burden is growing with over 19 million new cases and 10 million cancer deaths reported in 2020 globally. Around 50% of all cancer patients require radiation therapy as part of their treatment regimen at some point, making them susceptible to developing radiation-induced skin reactions. Increasing availability of advanced radiodermatitis treatment options with new formulations and modes of delivery will also aid the market growth over the forecast period. Additionally, several market players are focusing on developing new products based on active ingredients like lidocaine, corticosteroids and hyaluronic acid which provide longer durable pain relief and faster healing for radiodermatitis.
Segment Analysis
The radiodermatitis market is segmented by product into cream and gel, spray, and ointment. Among these, the cream and gel segment dominates the market and accounts for the largest revenue share. This is because creams and gels are highly effective and quick-acting in providing relief from pain and itching caused by radiodermatitis. They protect the affected skin from external irritants and actively soothe inflamed skin.

PEST Analysis
Political: Changes in healthcare reimbursement policies across various countries impact the adoption of radiodermatitis treatment products in those regions.
Economic: A steady rise in the incidence of cancer and increasing usage of radiation therapy are driving the economic growth of the radiodermatitis market.
Social: Growing public awareness about preventive care and treatment options for skin problems caused by radiation therapy boosts the social acceptance of radiodermatitis treatment products.
Technological: Advancements in skin care formulations allow manufacturers to develop innovative products that can effectively prevent and treat radiation-induced skin damage within a short period.

Key Takeaways
The global radiodermatitis market  Share is expected to witness high growth, exhibiting a CAGR of 4.3% over the forecast period, due to increasing incidence of cancer cases globally. The market size for 2023 is estimated to be US$ 407.2 Mn.

Regionally, North America dominates the radiodermatitis market and is expected to continue its dominance over the forecast period. This is attributed to the growing geriatric population, rising prevalence of cancer, and ongoing advancements in radiation therapy.

Key players operating in the radiodermatitis market are Acelity, Inc. (3M), BMG Pharma S.r.l., ConvaTec Group PLC, DermaSciences Inc. (Integra LifeSciences Holdings Corporation), Intermed Pharmaceuticals, Mölnlycke Health Care, Smith & Nephew Plc, Stratpharma AG, Kannalife, Inc., and McKesson Corporation.

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →