Radiodermatitis Market is Expected to Enhance $557.1 Million Revenue By 2030: Grand View Research Inc.

 

Radiodermatitis Market Growth & Trends

The global radiodermatitis market size is expected to reach USD 557.1 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.9% from 2023 to 2030. The market is expected to grow at an unprecedented rate owing to the growing prevalence of cancer patients undergoing radiation therapy. The unmet medical needs of patients in both emerging and developed nations are another factor that increases the demand for radiodermatitis treatment. As the prevalence of diabetes and obesity increases, these individuals are more likely to suffer from cancer. This factor is probably going to increase the cases of radiodermatitis and increase the need for radiation therapy. Furthermore, higher consumption of alcohol and smoking are additional cancer risk factors, which will certainly increase demand for radiodermatitis medications.

The COVID-19 pandemic has a significant impact on the radiodermatitis market. Various regions imposed restrictions or lockdowns of varying severity implemented to curb the pandemic, with different outcomes.Globally, many cancer centers have reported substantial decreases in the number of patients diagnosed with and treated for cancer during the pandemic. Hospitals across the globe have decreased radiotherapy treatment as there was a shift to support the COVID-19 pandemic. However, with the ease of the restrictions by the 3^rd quarter of 2020, radiotherapy treatment started to increase which resulted in the growth of the radiodermatitis market.

Asia Pacific dominated the overall market in terms of revenue and growth rate during the forecast period. The presence of increasing cancer research activities, advancing healthcare infrastructure, and expenditure are some of the factors responsible for garnering a greater share of the segment. As a result of unmet patient needs, Asia Pacific is also likely to have profitable expansion over the course of the projection period. The market's second-largest share was accounted for by North America. The increasing incidence of radiation burns along with the high demand for skin grafts and substitutes is expected to further drive the growth of this market.

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Radiodermatitis Market Report Highlights

• The topical products segment captured the largest share in the product segment in 2022. The dominant share is attributable to ease in availability, greater convenience, and superiority over oral products. Topical products are also anticipated to grow at an exponential rate owing to their availability in various formulations such as creams, gels, and ointments according to the requirement of the patient
• In 2022, the retail pharmacies segment accounted for a substantial share of the distribution channel segment owing to the rising number of pharmacies. The retail pharmacies may capture large percent of prescriptions written in the hospital 
• Due to the high number of cancer patients in this area, Asia Pacific held the highest share of the market
• North America held the second largest share owing to extensive R&D activities that have fueled high-potential growth opportunities. In addition, the availability of therapeutically advanced products across North America is one of the major factors contributing toward its high share
• The competition is marked by major players undertaking strategies such as product launches, distribution agreements, and strategic collaborations that have led to significant growth in their respective market share

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Radiodermatitis Market Segmentation

Grand View Research has segmented the global radiodermatitis market on the basis of product, distribution channel, and region:

Radiodermatitis Product Outlook (Revenue, USD Million, 2018 - 2030)

• Topical
  • Corticosteroids
  • Hydrophilic Creams
  • Antibiotics
  • Others
• Oral
• Dressings
  • Hydrogel & Hydrocolloid Dressings
  • No Sting Barrier Film
  • Honey-Impregnated Gauze
  • Silicone-Coated Dressings
  • Others

Radiodermatitis Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Radiodermatitis Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

List of Key Players of the Radiodermatitis Market

• Stratpharma AG
• Smith & Nephew
• Molnlycke Health Care AB
• Derma Sciences Inc.
• ConvaTec Inc.
• BMG Pharma S.R.L.
• Acelity
• 3M
• Alliqua BioMedical

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.