Market Research Future (MRFR) speculates that the global hidradenitis
suppurativa market is predicted to garner USD 763.6 million, grabbing a CAGR of
4.2% during the forecast period (2017-2023). Increasing incidences of skin
diseases are likely to favor the market growth to a great extent. Also known as
acne inversa, hidradenitis suppurativa is referred to as a rare, inflammatory
skin condition that generates as small and painful pimples on the skin. It
generally occurs between 20 to 40 years of age and is three times common among
the women population than in the male population. It is a dermatological
disease affecting the areas of apocrine sweat glands like the area under the
breast, buttocks, inner the thighs, and under the arms. Early symptoms involve
local hidradenitis and erythema, which become painful in the later stages.
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Competitive
Dashboard
The prominent players operating the global hidradenitis
suppurativa market are AbbVie Inc. (US), Johnson & Johnson Services Inc.
(US), GlaxoSmithKline plc. (UK), Pfizer Inc. (US), Allergan (Republic of
Ireland), Merck & Co. Inc. (US), AstraZeneca (UK), and others.
Market Potential
and Pitfalls
With augmenting incidences of several skin diseases, the global
hidradenitis
suppurativa market share is likely to flourish. The FDA is approving
clinical trials and drugs which is further contributing to the market growth.
The market is also likely to expand due to the introduction of new treatment
and drug options coupled with the increasing knowledge about the disease. The
increasing global warming across the world has resulted in environmental
changes like pollution and depletion of the ozone layer. This is further having
an impact on the skin, thereby fueling the market growth throughout the
appraisal period. Moreover, with rapid urbanization and rising population
coupled with the improving economic condition, the quality of healthcare is
rising, which is further offering an impetus to the hidradenitis suppurativa
market across the market.
On the contrary, the 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. Despite such hiccups,
technological advancements owing to the substantial investments in R&D
activities are considered to propel the market growth throughout the estimated
period.
Global
Hidradenitis Suppurativa Market: Segmental Analysis
The global hidradenitis suppurativa market has been
segmented on the basis of skin condition, treatment, and end-user.
By mode of skin condition, the global hidradenitis
suppurativa market has been segmented into folliculitis, pimples, boils,
deep-acne, and others.
By mode of treatment, the global hidradenitis suppurativa
market has been segmented into surgery, medications, photodynamic therapy
(PDT), laser treatment, and others. Among these, surgical removal is considered
as a preferred mode of treatment, but the disease might relapse into other
areas as well.
By mode of end-user, the global hidradenitis suppurativa
market has been segmented into dermatology clinics, hospitals, academic
institutes, medical research centers, and others.
Regional Analysis
Geographically, the hidradenitis suppurativa market span
across regions namely, North America, Asia Pacific, Europe, and the Middle East
& Africa.
Among all the regions, the North American region is
predicted to lead the global hidradenitis suppurativa market with the largest
share. The region is presumed to a significant revenue pocket in the coming
years. The growth in this region is credited to the well-developed healthcare
sector coupled with the presence of a huge patient population suffering from
several skin diseases and medical complications. With the uptake of latest
technologies especially in the U.S., the market is likely to generate revenues.
Moreover, the changing lifestyle coupled with the augmenting expenditure on cosmetics
is highly supporting the market growth.
The European region is considered to occupy the second
position in the global market and is likely to experience a strong CAGR. With
the resurging economy in this region, the market is sure to flourish. Additional
factors promoting the market growth are the presence of a vast patient
population, availability of funds for research and development, and growing
teenage population in this region. Moreover, West European countries such as
the U.K., Germany, and France contribute to the market growth to a large
extent.
The Asia Pacific region is predicted to emerge as a
promising market with China and India backed by a vast population. Also, the
availability of low-cost medication in this region is influencing the market
growth. With the rapid growth in the healthcare sector and increasing
incidences of hidradenitis suppurativa in this region, the market is expected
to flourish.
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