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(Health-NewsWire.Net, June 26, 2020 ) Market Overview
The Global Hyperhidrosis Treatment Market is expected to grow at a CAGR of 4.1% during the forecasting period (2020-2027).
Hyperhidrosis is a chronic condition characterized by excessive and uncontrollable sweating. This excessive sweating associated with hyperhidrosis is normally most active in the hands, feet, armpits, and the groin because of their relatively high concentration of sweat glands. This condition may be present from birth or can develop later in life. Today the Increase in incidence of hyperhidrosis is due to unhealthy diets, sedentary lifestyles, and alcohol consumption that cause multiple disease conditions such as hypoglycemia, anxiety, and hyperthyroidism.
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Market Dynamics
Hyperhidrosis treatment market is growing due to advancements in treatment and availability of safer procedures for excessive sweating along with development of new products. Companies like Dermira, Inc. have announced updates to launch QBREXZA (glycopyrronium) cloth, which is an anticholinergic indicated for the topical treatment of primary axillary hyperhidrosis in adult and pediatric patients.
Today awareness initiatives by non-profit organizations have played a major role in creating right awareness about the disease and its treatment amongst individuals. One such organization is International Hyperhidrosis Society which is a global non-profit organization dedicated entirely to improving the lives of those affected by it.
According to the study published in Journal of American Dermatology in 2017, the estimated prevalence of hyperhidrosis is 2.8% in the U.S. With the promising pipelines by key players in the market is expected to further boost the treatment of hyperhidrosis.
Today the players are taking efforts to continuously improve the efficacy of non-surgical treatments for hyperhidrosis through clinically-proven data and statistics. Today the global demand for non-surgical cosmetic and aesthetic procedures such as the botulinum toxin procedure has increased due to its minimal invasive nature of treatment. As stated by the American Society of Plastic Surgeons, the U.S. recorded 819% increase in botulinum toxin procedures from 2000 to 2017.
Market Segmentation Analysis
Based on treatment type, the global Hyperhidrosis Treatment market is segmented into tropical treatment, Botulinum Toxin A, iontophoresis, surgical treatment and other. Topical treatment such as aluminum chloride is considered the first choice for localized hyperhidrosis.
Today, novel treatment options such as iontophoresis, botulinum toxin, non-surgical microwave energy destruction of sweat glands (miraDry), and systemic medications are available in case the topical treatment is insufficient or not applicable. With the increase in the availability of these novel treatment options the demand for treatment is anticipated to boost in the future.
Among the Treatment Type, Botulinum Toxin A is accounted for the largest XX% market share in the Hyperhidrosis Treatment market.
Market Geographical Analysis
North America holds the dominant market share for Hyperhidrosis Treatment in 2019, and is expected to maintain the growth over the forecast period, increasing prevalence of Hyperhidrosis which is caused mainly due to urbanization and sedentary lifestyles.
The United States is one of the top five countries with the highest Hyperhidrosis population. Another major factor that attributed towards its high share include increased diagnosis rate of hyperhidrosis coupled with availability of technologically advanced and sophistical advanced treatment options. Availability of research funds from public as well as private sources, along with presence of key market players in the region, increase in focus on precision medicine, and rising awareness about presence of safer medicines, are among the key factors driving the market growth for Hyperhidrosis Treatment in this region.
Asia pacific region was the third largest region in 2018 and is expected to witness the highest growth rate during forecast period due to rising awareness about hyperhidrosis coupled with surge in incidences of depression and anxiety in the region.
Market Competitive Landscape
Some of the major manufacturers in the Hyperhidrosis Treatment market are Allergan, Brickell Biotech Inc, Dermira Inc, GlaxoSmithKline, Revance Therapeutics Inc, Ulthera Inc, Miramar Labs Inc, TheraVida Sientra Inc, among others.
The key players are adopting various growth strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the Hyperhidrosis Treatment market globally. For Instance:
BOTOX which is produced by Allergan Inc is the most studied brand of botulinum toxin in the world.
Revance Therapeutics Incs RT002 and Brickell Biotech Incs Sofpironium Bromide which is a topical anticholinergic are some of the products under clinical trial for the treatment of hyperhidrosis.
As diagnosis rate and market penetration endure to expand, there are expectations for market growth during forecast period.
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