Radiodermatitis Market size is projected to experience significant growth from 2017 to 2024.
Radiodermatitis market size should witness significant growth due to rising incidences of cancer across the globe. As per WHO, in 2012, 14 million new cancer cases were diagnosed and the number is envisaged to reach 21 million by 2030. Cancer patients are prone to develop radiation-induced skin reactions or radiation dermatitis which impacts the physical functioning and quality of life further increasing the demand for treatment products over the coming years. As per Oncology Nursing Society, 95% of patients are likely to develop some degree of adverse skin reactions when exposed to radiation therapy.
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Increasing obesity prevalence owing to lack of physical activity, unhealthy dietary habits coupled with rising smoking and tobacco usage are yet another paramount factor propelling the radiodermatitis market growth. The larger surface area is exposed to radiation which damages the skin tissues and blood supply causing skin abrasions and wounds to the obese patients. Hence, radiodermatitis products enable healing of such wounds and tissue damages propelling business growth in the future.
Increasing number of organizations formed to enhance public awareness pertaining to proper management and prevention of radiation dermatitis will create immense growth opportunities in future. For instance, the European Oncology Nursing Society issued guidelines and recommendations related to the radiation dermatitis symptoms, risk factors and clinical measurement tools to advance patient care across the globe.
Moreover, development of assessment tools by various organizations such as the Radiation Therapy Oncology Group (RTOG) and National Cancer Institute (NCI) used to identify degrees of skin reactions and to determine the severity of radiation dermatitis are propelling demand for topical creams, gels, and dressings. Growing number of clinical research and development activities for developing innovative products used to treat adverse effects of radiation therapies will further expand product pipeline over the forecast years. However, improper usage and adverse side-effects of radiation dermatitis products can hamper market growth.
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Topical products such as hydrophilic creams and corticosteroids held a momentous share as of 2016, due to their ease of application, easy availability, less systemic absorption, cost-efficiency, and reduced side effects accelerating the adoption rate among consumers in the future. Dressings market will witness an exponential growth owing to the presence of range of products and their wide usage for treatment of skin radiation burns and lesions. Based on the distribution channel, retail pharmacies will witness significant growth followed by online pharmacies over the forecast period owing to the convenience, affordability, and accessibility to patients.
India should witness significant growth rate in the coming years owing to increasing obesity rates along with presence of large cancer patient pool driving the demand for radiation dermatitis products in the Asia Pacific region. U.S. will drive the North America radiodermatitis market owing to the increasing prevalence of cancer coupled with increasing focus of manufacturers to develop novel products augmenting industry expansion in the future. For instance, in April 2017, ConvaTec announced the launch of Foam Lite ConvaTec dressing in the U.S. It is a flexible, silicone based foam dressing intended to be used in managing low to moderate chronic as well as acute wounds such as skin lesions and skin burn.
Some of the key industry players are Acelity, Smith & Nephew, Molnlycke Health Care, Derma Sciences, Stratpharma, ConvaTec, 3M, BMG Pharma and Laboratorios LETI, Alliqua BioMedical. Mergers & acquisition, partnership agreements and new product launch are the major strategies adopted by the industry players to expand their existing portfolio and gain foothold in the market. For instance, in March 2015, Laboratorios LETI, post partnership with Stratpharma; launched range of products such as Stratamed and StrataXRT for prevention and treatment of wounds, skin scars and radiodermatitis in Spain and Portuguese. This strategic move enables the company to strengthen its global presence.