Rosacea Therapeutics Market 2022
Rosacea Therapeutics Market is expected to be worth US$ 7.61 Bn by the year 2021-2032, at a CAGR of 6.2% between 2021-2032. Digital health is into occupation of a noteworthy position in our lives, thereby rendering it a significant tool in the medical device trends going forward. This would be the overall outlook of the healthcare vertical in the forecast period.
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As per Persistence Market Research’s latest industry analysis, expanding at a CAGR of 6.2%, the global rosacea therapeutics market is projected to increase from a valuation of US$ 3.94 Bn in 2021 to US$ 7.61 Bn by 2032.
Rosacea is a common skin condition characterized by raised blood vessels and redness on the face, where the nose and cheeks are the most affected areas. The signs and symptoms of rosacea are small red pus-filled bumps that may burst periodically. Around half of the patients experience dry irritated eyes and swollen red eyelids. Other symptoms include an enlarged nose and thickened nasal skin (rhinoplasty). Rosacea mainly affects middle-aged women with fair skin.
- According to the National Rosacea Association, rosacea affects around 15 million people worldwide. Prevalence of rosacea in the general population is estimated at 2.5% to 5.5%.
Lack of curative treatment for rosacea has resulted in the emphasis on symptomatic treatment to control or eliminate its various signs and symptoms. Growing out-of-pocket expenditure is another driver for the market owing to the rising emphasis on personal health.
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Key rosacea therapeutic service providers are focusing on market expansion through collaborations and acquisitions. They are promoting their products at professional scientific meetings and conferences. This promotional strategy will be very impactful to penetrate the market. Sales representatives of companies directly contact professionals and physically present their product offerings, thus expanding their company’s presence into different geographies.
- An example is, in Feb 2022, Novartis experienced mid-single digit sales growth, margin expansion, and advancement of its robust pipeline.
Key Takeaways from Market Study
- Erythematotelangiectatic rosacea, a subtype of rosacea, which is characterised by recurrent episodes of transient face erythema (flushing) and no transient, or chronic, erythema, occurs most commonly amongst and holds the highest market share of around 35.4%.
- Antibiotics are the most commonly preferred drug class by physicians for early relief from the disease. This segment accounts for the highest share of 39.5% in the market.
- Treatment of rosacea is challenging given the varied manifestations and incompletely understood etiology. Topical treatment is growing tremendously and holds a market share of 29.3%.
- Pharmaceutical companies are steadily transitioning toward innovation and sales of new drugs. Thus, retail sales, including retail pharmacies & drug stores hold the highest market share of 52.1%.
- The North America rosacea therapeutics market accounted for 32.6% of the total market share, by value, in 2021.
“Increased prevalence of rosacea and advances in patient-specific pathophysiology will drive the rosacea therapeutics market over the coming years,” says an analyst of Persistence Market Research.
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Market Competition
Key providers of rosacea therapeutics are investing in innovating cost-effective treatment to gain the attention of healthcare providers. Along with product innovation, key players are also aiming for various acquisitions to create goodwill and successfully market their products.
- For instance, on December 1, 2021, Sanofi entered into an agreement to acquire Origimm Biotechnology GmbH.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the rosacea therapeutics market in its latest study, presenting historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
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