Global Radiodermatitis Market Grows at a Staggering CAGR of 4.52%

Introduction

Radiation dermatitis, also known as radiodermatitis, is a rare but debilitating side effect of cancer and non-cancer radiation therapy. In addition, nearly all people undergoing cancer treatment have had some cutaneous sensitivity, and over half of these people have undergone radiation therapy at some point throughout their condition. Topical products have many advantages, such as low price, ease of use, accessibility, and few or no adverse side effects. Radiation burns of varying severity can be treated effectively using dressings, which bodes well for their widespread adoption in the future.

Market Dynamics

Rise in the Adoption of Radiotherapy Drives the Global Market

Radiation treatment treats cancer by irradiating the patient at a high enough dose to kill cancer cells and shrink tumors. Radiotherapy frequently causes a skin condition called radiation dermatitis. Radiation therapy, on the other hand, must be given time to work before cancer cells are destroyed. DNA damage inhibits cell division and ultimately leads to a little organism. In addition, treatment often takes many days to weeks to cause sufficient damage to DNA for cancer cells to die. Individual differences in radiation-induced skin damage exist. Symptoms might be mild, such as mild redness and itching, or severe, such as painful, damaged skin prone to infection.

Increased Demand for Radiation Therapy Side Effect Reduction Creates Tremendous Opportunities

The demand for oncology services is predicted to increase steadily over the next few years due to an aging population and an increase in cancer survivorship. For example, the population of adults 85 and older is growing faster than any other age group in the world. Regarding both sexes, the most significant cancer risk occurs in the 80s. In addition, radiotherapy causes radiodermatitis in more than half of all cancer patients. In the first week following treatment, radiodermatitis can appear, but it can also appear months or even years later. The severity of acute radiodermatitis, a burn injury, varies from patient to patient and depends on their reaction to treatment and other factors.

Regional Analysis

Asia-Pacific is the most significant shareholder in the global radiodermatitis market. Asia-Pacific includes China, Japan, India, Australia, South Korea, and the rest of the region. The industry is being propelled forward by factors such as the rising prevalence of cancer and other chronic diseases and the spiraling expense of healthcare. New goods and increased investment in R&D are helping drive growth in the region's markets. As more people start using radiation therapy, more people start developing radiation dermatitis.

Europe is expected to grow during the forecast period. Germany, the United Kingdom, France, Italy, Spain, and the rest of Europe are this region's most important revenue sources. The market has tremendous potential for future growth because of factors such as the aging population and the rising number of cancer patients. Even though Europe is home to only a tiny percentage of the world's population, it sees around a quarter of all new cases of cancer each year, with an estimated 3.7 million people being diagnosed and half of those receives radiation therapy for their condition. These factors are expected to strengthen the European projection period for cancer biomarkers.

The United States is expected to have a disproportionately large share of the North American radiodermatitis market over the projection period due to rising cancer incidence in the country, strong R&D spending, and an upsurge in the release of new products. Furthermore, among female tumors, breast cancer has the highest incidence rate locally. Radiation therapy's increasing popularity is also expected to play a significant role in driving the regional market. The enormous amounts of money spent on research and development by the market's most prominent companies contribute to their rapid growth. In addition, the number of mergers and partnerships within this sector has increased significantly, helping to drive the industry forward.

LAMEA includes Brazil, Saudi Arabia, South Africa, and the rest of the region. New businesses are entering the radiation dermatitis market in this area because of the increasing elderly population and the prevalence of different types of cancer. Rising incomes in some regions have led to a surge in demand for premium services. To lure large pharmaceutical corporations to open offices in the area, the government has increased funding for the industry.

Key Highlights

• The global radiodermatitis market was valued at USD 492 million in 2022. It is projected to reach USD 732 million by 2031, growing at a CAGR of 4.52% during the forecast period (2023–2031).
• Based on product, the global radiodermatitis market is bifurcated into topical, oral drugs, and dressings. The topical segment is the highest contributor to the market.
• Based on the distribution channel, the global radiodermatitis market is bifurcated into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment is the highest contributor to the market.
• Asia-Pacific is the most significant shareholder in the global radiodermatitis market.

Competitive Players

Competitive Players

The global radiodermatitis market’s major key players are Bayer AG., Bausch Health Companies INC., BMG Pharma S.P.A., Convatec Group PLC., GlaxoSmithKline PLC, Helsinn Healthcare SA, Molnlycke Health Care AB, and Stratpharma AG.

Recent Developments

Market News

• In August 2022, Bayer introduced ForGround, an innovative sustainable agriculture platform designed to revolutionize farmer and business relationships.
• In September 2022, GSK and Microsoft began a disease surveillance project in conjunction with the Centre for Health and Disease Studies in Nepal.

 

Segmentation

Global Radiodermatitis Market: Segmentation

By Product

• Topical
• Oral Drugs
• Dressings

By Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA