According to a recent market report by Future Market Insights (FMI), the global axillary hyperhidrosis treatment industry is experiencing significant growth, with its valuation estimated at USD 1.8 billion in 2023 and projected to expand to USD 3.3 billion by 2033 at a compound annual growth rate (CAGR) of 6.7% during the forecast period.
Axillary hyperhidrosis, a condition characterized by excessive underarm sweating, impacts millions of individuals globally, leading to discomfort and social stigma. With advancements in medical technology, effective solutions, including non-invasive and minimally invasive treatments, are becoming increasingly accessible.
Innovative Solutions Driving Market Expansion:
Leading treatments such as Botox injections and miraDry have garnered attention for their ability to target sweat glands with minimal or no pain, offering long-lasting relief to patients. These cutting-edge solutions have seen growing adoption among patients seeking effective management of axillary hyperhidrosis, contributing to the market’s robust growth trajectory.
Key Market Drivers
- Rising Prevalence and Awareness:
The global prevalence of axillary hyperhidrosis continues to rise, driving the demand for reliable treatment options. Growing awareness is leading to higher diagnosis rates and an increase in patients seeking medical or cosmetic intervention.
- Advancements in Treatment Technologies:
Revolutionary minimally invasive procedures and non-invasive devices are enabling safer, quicker, and more effective treatment outcomes. These advancements are fueling innovation and attracting both patients and healthcare providers.
- Demand for Cosmetic Solutions:
For many patients, excessive underarm sweating is not only a physical challenge but also a cosmetic concern. Treatments that address both the medical and aesthetic aspects of axillary hyperhidrosis are increasingly sought after, boosting market growth.
- Popularity of Combination Therapies:
The trend of combination therapies, which integrate multiple modalities to deliver enhanced results, is gaining traction. This approach ensures comprehensive care and has become a preferred choice for both patients and clinicians.
Future Outlook:
With a confluence of technological advancements, rising awareness, and increasing demand for innovative treatments, the axillary hyperhidrosis treatment industry is set for sustained growth. As more patients prioritize solutions for both functional and cosmetic concerns, manufacturers and healthcare providers are expected to introduce groundbreaking products and services to meet evolving demands.
Key Takeaways:
Drug therapy is the leading segment of treatment among patients and professionals, and held about 62.7% market share in 2022, due to its non-invasive nature and high efficacy in reducing excessive sweating in patients.
- By distribution channel, the retail pharmacies dominated the global axillary hyperhidrosis treatment market withholding the total market share of about 34.2% by the end of 2022, owing to the convenience and ease of accessibility to a range of products from OTC/off-label products to licensed products.
- By region, North America is leading in the global axillary hyperhidrosis treatment industry and is expected to continue to do so with a projected CAGR rate of 5.4% during the forecasted years.
“Increasing adoption of combination therapies and growing awareness and diagnosis of the condition to create the lucrative potential for the market to grow,” says an analyst at Future Market Insights (FMI).
Accelerated Market Demand: Find Comprehensive Insights and Trends in Our Full Report!
Market Competition:
Key participants in the market for axillary hyperhidrosis treatment employ expansion of the company through acquisitions, mergers, collaborations, and partnerships. Key players are concentrating on strategies like expanding sales and implementing new technology for the creation of novel products.
- In December 2021, Sientra, Inc. announced that it had entered into an agreement to acquire all of the assets related to the novel fat grafting technology from AuraGen Aesthetic, LLC.
- In August 2022, GSK plc announced that it had acquired Affinivax, Inc (Affinivax), a clinical-stage biopharmaceutical company based in Cambridge, Boston, Massachusetts.
Key Players:
- Allergan plc. (AbbVie)
- Journey Medical Corporation (Dermira, Inc.)
- Riemann A/S (Orkla)
- SweatBlock
- Certain Dri
- miraDry, Inc. (Sientra)
- STRATUS PHARMACEUTICALS INC.
- Duradry
- Persn & Covey
- GlaxoSmithKline Plc.
- Carpe
- SweatStop® International
- CORAD Healthcare
- ZeroSweat
Key Segments:
By Treatment:
- Drug Therapy
- Antiperspirants (Both OTC & Rx)
- Antiperspirants Spray
- Antiperspirants Roll-On
- Antiperspirants Wipes
- Antiperspirants Lotion & Gel
- Antihypertensive Drugs
- Anticholinergic Agents
- Alpha-Adrenergic Agonists
- Antiperspirants (Both OTC & Rx)
- Botulinum Toxins
- Medicated Wipes
- Microwave Therapy
By Distribution Channel:
- Hospitals
- General Physician’s Clinics
- Retail Pharmacy Chains
- Drug Stores
- Online Sales
- Manufacturer websites
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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