Rise in demand for topical products due to their easy availability will enable growth in the porokeratosis treatment market
Rise in demand for topical products due to their easy availability will enable growth in the porokeratosis treatment market
The global porokeratosis treatment market is demonstrating a steady growth due to surge demand for laser treatment, kidney transplant, and improved reimbursement policies. The distribution of actinic porokeratosis (DSAP) is the most common form of porokeratosis disease. The reported growth of DSAP ranges from 24% to 61.1%, while the annual reported prevalence of DSAP ranges from 12.6% to 43.4%. Rising rates of incidence have increased the demand for global porokeratosis treatment, finds Fact MR in a study.
More than 660,000 Americans have kidney failure and more than 467,000 patients are on dialysis, escalating the number of porokeratosis cases, as the disease is prevalent in 10% of patients having kidney problems with reference to niddk.nih.gov. In the U.S. 10.68% of renal transplant recipients have suffered from porokeratosis diseases in the year 2017. With the number of cases expected to increase in the future, the demand for effective treatment is on a rise.
Despite surging demand, the high cost of laser treatment could hamper growth. Also, lack of skilled labors often becomes a challenge to growth, especially in middle-income countries. Porokeratosis is a rare disease, therefore any many nations inadequate awareness becomes a chief concern. Nonetheless, with government intervention increasing, growth prospects for the market are expected to improve.
“Rising investment towards expansion of the health care infrastructure and increase in expenditure on skincare are contributing toward the growth of porokeratosis treatment market,” says the Fact.MR analyst.
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Key Takeaways
- North America is dominating the porokeratosis treatment market on the back of the rising incidence of renal transplant and the rise in DSAP cases.
- Europe has emerged as the second-leading market for porokeratosis market driven by the rising incidence of various ailments.
- Soaring geriatric population in Japan has resulted in increasing cases of kidney diseases, which presents scope for the expansion of the market
- Mibelli and DSAP are more common porokeratosis diseases in Asia, encouraging growth of the porokeratosis treatment market
- The surge in research costs and increased competition among key market players will boost the growing market for porokeratosis treatment globally
- Hospital and pharmacies are expected to be the dominant segment in terms of distribution channel.
- Laser therapy is popular among consumers since no hospitalization is required after the therapy, making it a more preferred therapy for the porokeratosis treatment.
Prominent Drivers
- Increasing awareness, advanced skincare infrastructure, and rising income in developing countries will result high demand for porokeratosis treatment.
- With better funding by the government and better reimbursement policies in developed countries will attract huge pool of customers.
- The growth in demand for personal care in the youth will give rise to the porokeratosis treatment market.
Key Restraints
- The high cost of laser systems, the absence of skilled professionals, and the side effects associated with drugs will hamper the porokeratosis treatment market growth.
- Lack of awareness among people regarding the treatment is not much prominent worldwide posing a challenge for market players.
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Competitive Landscape
Prominent players in the market include Alma Lasers, Angiodynamics Inc., Almirall, Pfizer, Cutera, Valeant Pharmaceuticals Bioness Inc., Coherent Inc., Biogen, PhotoMedex Inc., Lumenis, Hologic Inc., Coty Inc., Hoffman-La Roche Ltd., Biolase Inc., Allergan, Beiersdorf AG, IRIDEX Corp., IPG Photonics Corporation. Key players are investing to develop and launch the better and cost-effective product for the porokeratosis treatment market. Besides this, they are focusing on achieving licensing agreements to expand their global reach.
- In July 2016, Chugai and Galderma declared an international licensing agreement for the development and marketing of Nemolizumab worldwide, increasing the sale of skin care treatments.
More Insights on the Porokeratosis Treatment Market
In its latest report, Fact.MR offers unbiased analysis of the porokeratosis treatment market In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of treatment (topical therapies, systemic therapy, physical interventions, and laser therapy), end user (hospitals, clinics, pharmacies and drug stores, diagnostic centers, and research and academic institutes), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
Key Questions Covered in the Report
- Which factor will drive the porokeratosis treatment market?
- What is likely to be the future outlook porokeratosis treatment market?
- What are the key restraints hampering porokeratosis treatment market?
- Which region has the highest share in the porokeratosis treatment market?
- Which are the leading players operating in porokeratosis treatment market?
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