Strong and expanding prevalence of cancer is undeniable, but the failure of humanity to find an adequate therapy for the chronic disease ‘without side effects’ is another irrefutable reality. For now, cumulative daily doses of radiation therapy are used for cancer treatment, which causes a side-effect called radiodermatitis. Radiodermatitis significantly affects the patient’s quality of life by enticing debilitating pain and discomfort and can potentially hinder further treatment regimes. Thankfully, topical agents and dressings have been formulated that can efficiently negotiate with the repercussions of chemotherapy, and the market for radiodermatitis is flourishing.
According to Amigo Market Reports, the Global Radiodermatitis Market is accounted for $318.9 million in 2017 and expected to grow at a CAGR of 4.8% to reach $489.8 million by 2026. Factor such as the large size of patient pool, increasing obesity, unhealthy habits like usage of tobacco and increasing demand for radiation-based chemotherapy are fueling the market growth. Discovery of equipment of radiation therapies such as intensity-modulated radiation therapy (IMRT) and proton therapy are hindering the market growth. Rise in research and developments, clinical trials, and product development through partnerships and collaborations with medical institutions provide ample opportunities to the market.
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Some of the key players in the market are 3M, ConvaTec Inc., Stratpharma AG, BMG Pharma S.R.L., Acelity, Derma Sciences, Inc., Smith & Nephew plc, Intermed Pharmaceuticals and Molnlycke Health Care AB.
By distribution channel, Retail pharmacy which provides prescription drugs, among other products and has many customers depending on them because of its features like easy availability and affordability. It has the capability of controlling the stock on hands, participation in pharmacy benefit management (PBM) networks, advising the customers to buy the drugs & suggest prescriptions and having better financial & debt management with the customer are the driving factors for the consumers to depend on retail pharmacy stores.
Based on product, the topical product has key benefits such as reduce the risk of microbial transmission, protect the skin against abrasive materials, easy application, availability, are considered to be the major factors resulting in adoption of these products. Corticosteroids, hydrophilic creams, and topical antibiotics are some of the major products under this segment. Corticosteroids agents are considered as a better standard in the treatment of inflammatory skin conditions, thereby increasing in adoption for the treatment of radiodermatitis.
Asia Pacific region has dominated the market, due to its huge population base. In addition, extensive collaborations, established pharmaceutical companies in this region are extensively involved in the promotion of their products and usage amongst the end users and supporting government initiatives supporting research activities and increased deployment of products are the key factors propelling market growth in this region. North America held the second largest share of the radiodermatitis market and driven by high R&D investment deployed by global players.
Distribution Channels covered:
- Online Pharmacy
- Retail Pharmacy
- Hospital Pharmacy
- Oral Drugs
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