The global hidradenitis suppurativa (HS) treatment market is set to surpass a remarkable valuation of USD 763.6 million in 2023, and projections indicate this figure will rise to USD 1,240.9 million by 2033, registering a steady CAGR of 4.97% during the forecast period.
Pipeline Therapies Driving Market Growth:
The HS treatment market is witnessing significant advancements, with a diverse range of therapies in the pipeline targeting interleukins (IL-17, IL-1), anti-TNF, JAK inhibitors, and anti-complement factors. Upcoming therapies promise enhanced convenience with patient-friendly administration methods and extended treatment durations, ensuring improved outcomes and market expansion.
Key Growth Drivers:
- Rising Prevalence of Skin Diseases:
The increasing number of individuals affected by hidradenitis suppurativa, compounded by secondary infections, hair follicle obstruction, and sweat gland inflammation, is a primary growth driver.
- Healthcare Infrastructure Development:
Enhanced healthcare expenditure is improving medical infrastructure, enabling better access to advanced treatments and driving market growth.
- Awareness Initiatives:
Public and private organizations are actively spreading awareness about HS, contributing to early diagnosis and treatment adoption.
- Lifestyle Changes and Demographics:
Rising disposable incomes, changing lifestyles, obesity prevalence, and an aging population are further propelling market demand.
- Technological Advancements:
Innovative treatments such as laser surgeries and other sophisticated therapeutic options are expected to accelerate market growth.
Opportunities and Challenges:
The increasing number of research and development activities in HS treatment is opening new avenues for market expansion. The surge in FDA approvals for innovative therapies, coupled with clinical trial successes, is expected to provide a significant boost to the market. Additionally, emerging markets present untapped potential for industry players, offering lucrative opportunities in the forecast period.
Future Outlook:
With a robust pipeline of advanced therapies, a growing awareness of the condition, and a rise in healthcare investment, the hidradenitis suppurativa market is poised for substantial growth. Industry leaders and stakeholders are encouraged to leverage these developments to meet the rising demand and improve the quality of life for HS patients worldwide.
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Key Takeaways from the Market Study:
- North America is expected to dominate the market of hidradenitis suppurativa treatment with market valuation to reach USD 620.4 million by end of the forecast period.
- The market in East-Asia is anticipated to record fastest CAGR of 5.1% during the projected timeline.
- By treatment type, biologics segment is expected is to lead the market with 61.4% segment share by end of 2033.
- With market share of 65%, hospital pharmacy is expected to possess market hegemony by distribution channel, by end of the forecast period.
βTechnologically sophisticated treatments like laser therapy and rapid drug approvals will fuel the market in forecast periodβ, comments an FMI analyst.
Competitive Landscape:
The global Hidradenitis suppurativa market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition. Some recent developments in this industry are as follows:
- In June 2022, Priovant Therapeutics and Ongoing Registrational Studies for Oral Brepocitinib in Dermatomyositis and Lupus were announced by Roivant and Pfizer.
- In February 2021, AbbVie Inc., received FDA approval for HUMIRA (adalimumab), which can be used to treat moderate to severe hidradenitis suppurativa.
- In March 2022, MoonLake had started the Phase II trial of nanobody, sonelokimab for treating moderate-to-severe hidradenitis suppurativa (HS). Sonelokimab has the potential to treat inflammatory diseases by inhibiting the IL-17A/A, IL-17A/F, and IL-17F/F dimers that cause inflammation in the body.
Key Companies Profiled:
- InflaRx N.V
- Novartis A.G
- Incyte Corporation
- UCB Biopharma SPRL
- Janssen Pharmaceuticals
- Amgen Inc.
- ChemoCentryx
- Priovant Therapeutics
- AnaptysBio
- AbbVie Inc.
- ACELYRIN
- Aclaris Therapeutics Inc.
Key Segments Profiled in the Hidradenitis Suppurativa (HS) Treatment Market Industry Survey:
By Clinical Stages:
- Hurley Stage 1- Low
- Hurley Stage 2- Moderate
- Hurley Stage 3- High
By Treatment Type:
- Medication
- Biologics
- Antibiotics
- Hormonal Therapy
- Immune Suppurativa Drugs
- Zinc Supplements
- Pain Medications
- Surgery
By Route of Administration:
- Oral
- Tropical
By End Users:
- Hospitals
- Homecare
- Specialty Clinics
By Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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Connected Drug Delivery Devices Industry
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