The global radiodermatitis market is consolidated, with the top five
players accounting for a share of just over 47% in 2015. These are 3M
Healthcare, Smith & Nephew plc, Molnlycke Health Care, Acelity,
and Convatec, Inc. Transparency Market Research finds that success in
the radiodermatitis market is dependent on the ability of pharma and
medical device companies to develop innovative products that can
address unmet consumer needs and also help differentiate the company
from its competitors.
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Stratpharma AG, for instance, launched the StrateXRT in 2016 – a
class 1 wound dressing listed with the US FDA and a medical device
registered with the European CE mark. This novel and flexible wound
dressing is designed for the prevention as well as treatment of
radiation dermatitis.
The opportunity in the global radiodermatitis market was worth
US$299.6 mn in 2015 and, registering a CAGR of 3.9% from 2016 to
2024, will be worth US$421.5 mn by 2024.
Topical agents are the most preferred and prescribed products in the
radiodermatitis market. Accounting for a share of just under 70% in
2015, the revenue generated by this segment is projected to cross
US$300 mn by 2024. The topical segment is anticipated to register a
4.2% CAGR during the forecast period, higher than any other product
segment. The oral medication segment holds a negligible share in the
global radiodermatitis market and is anticipated to further lose
market share by 2024.
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By distribution channel, the retail pharmacy store segment led the
radiodermatitis market in 2015, closely followed by the online store
segment. TMR finds that on the whole, a multichannel approach works
increasingly well in the radiodermatitis market owing to the nature
of the onset of radiodermatitis, which can occur either during or
after radiation therapy.
Geographically, Asia Pacific led the global radiodermatitis market in
2015, accounting for a share of over 45% that year. This region,
along with Latin America, are both anticipated to register a CAGR of
4.0% from 2016 to 2024, emerging as two of the most lucrative markets
for radiodermatitis treatment.
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The World Health Organization states that the number of new cancer
cases worldwide is projected to rise from 14 million per year in 2012
to 22 million by 2032. Cancer patients are more likely to develop
radiation-induced dermatitis owing to frequent radiation treatments.
“Unhealthy lifestyle factors, such as obesity and smoking,
aggravate the rate of cancer incidence and this will further boost
the prevalence as well as market for radiodermatitis,” the author
of the study finds.
The global market for radiodermatitis is also fueled by the rising
innovation in product offerings. “Companies have been increasingly
focused on churning out innovative products in order to fill the gap
of unmet needs in the radiodermatitis market,” the lead analyst
observes. The painful condition of the patient and poor quality of
life has been compelling patients to opt for as many new and
different radiodermatitis treatment options as possible and this acts
as a driving factor for drug and device manufacturing companies.
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