Hyperhidrosis Treatment Market Analysis, Segments, Size, Share, Industry Growth and Recent Trends by Forecast to 2027
Reports And Data
Rising incidences of hyperhidrosis, initiatives by non-profit organizations for awareness and treatments, increasing treatment alternatives
NEW YORK, NY, UNITED STATES, November 12, 2021 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global hyperhidrosis treatment market was valued at USD 1.27 Billion in 2019 and is expected to reach USD 2.10 Billion by the year 2027, at a CAGR of 6.0%. Hyperhidrosis is a severe disorder in which the patient faces excessive sweating issues which are independent of environmental conditions and thermoregulatory needs. There are two basic types of medical condition in this illness- primary focal and secondary generalized hyperhidrosis. Diaphoresis, which is a severe form of extreme, abnormal sweating is also known as secondary hyperhidrosis. The increasing awareness about the various types of treatment alternatives available to permanently cure in case of severe perspiration and to improve the quality of life in case of minor perspiration, is expected to bring traction to the hyperhidrosis treatment industry. Also there are updated reimbursement implications for hyperhidrosis expenditure in multiple regions. For instance, in U.S. recently in 2019, a reimbursement scheme code was released for operating procedures and medications, ICD-10-CM is the diagnosis code.
The condition of such excessive perspiring issues generally arises in either in the childhood itself or sometimes in the adolescence as well and can remain for many years. Majorly the cases of perspiration involves the areas of high sweat gland density such as armpits, hands, palms, feet and soles and in some rare cases it occurs on the face as well. There are various treatment options for healing this condition which can be adopted according to the severity level of the disease. It can be treated by medications such as antiperspirants, anticholinergics and botox injections as well. For excessive armpit perspiring, a product for permanent treatment was launched in 2016 called miraDry, for permanent removal of excessive sweating issues. However various measures have been suggested by doctors and specialists for removing perspiration and for improving the quality of life for such people. Less intake of alcohol is commonly suggested by doctors to slow down the onset of excessive sweating episodes. According to International Hyperhidrosis Society of U.S., proper clothing can give relief and comfort to the patients to a great extent. For example, Cool-jams performance sleep, is a clothing product manufactured especially for excessive sweating affected people. Summer Soles is a specially made sole for foot wears which reduces the sweating tendency to great extends.
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The rising incidences of problems associated with excessive sweating is due to the disruption in lifestyle of people, increasing sedentary work schedules, unhealthy food habits, and regular alcohol intakes (which is also associated with disease conditions such as anxiety, hyperthyroidism, and hypoglycemia among others). The Journal of American Dermatology published a study in 2017, stating the estimations associated with the prevalence of hyperhidrosis to be approximately 3% in the U.S. Alongside the growing interests of industry leaders of pharmaceutical industry, perspiration related treatment has led to a rise in the research and development expenses in this domain, thereby supporting the growth of this market through a promising pipeline for hyperhidrosis treatment. All these dynamics are pivotal for driving the growth of the hyperhidrosis treatment market during the forecast period.
North America has maximum increase in number of cases related to excessive sweating in the past few years, among major developed nations. The prevalence rate associated with hyperhidrosis in the U.S. was around 5% in 2017, where more than half of the cases registered were of axillary hyperhidrosis.
Furthermore, increased government and NGO initiatives, availability of research funds from private as well as public bodies, improvement in the reimbursement scenario for treatment and devices, and rising awareness about benefits of using available medications are among the key factors propelling the hyperhidrosis treatment market.
Market Overview:
The pharmaceutical and healthcare industries are among the fastest-growing sectors, particularly during the Covid-19 pandemic. The industry is vital for its life-saving medical innovation that improves people's health and quality of life in a country. Rapid technological advancements, continued growth in the biologics field, and an increase in medication manufacture and distribution all contribute to the pharma and healthcare industries' enormous growth. Rapid technological advancements include Artificial Intelligence (AI), blockchain, virtual reality, additive manufacturing, medical imaging and other Industry 4.0 technologies is revolutionizing pharma and healthcare industry. Pharmaceutical firms create jobs in technical assistance, scientific research, and production, as well as develop drugs to improve health, eradicate diseases, and extend life expectancy.
Competitive Landscape:
The global Hyperhidrosis Treatment market research report provides a competitive strategy analysis portfolios to provide a better understanding of the competitive landscape. The report further discusses in depth the business strategies undertaken by key manufacturers on mergers and acquisitions, joint ventures, and collaborations. It sheds light on the companies holding largest market share in terms of revenue in the global Hyperhidrosis Treatment market.
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Key companies profiled in the report are:
Allergan (Ireland), Brickell Biotech, Inc. (U.S), Dermira, Inc. (U.S), GlaxoSmithKline plc (UK), Revance Therapeutics , Inc. (U.S), Ulthera, Inc. (U.S), Dr. August Wolff GmbH (Germany), TheraVida, Sientra Inc. (U.S), collectively constituting a competitive market.
Further key findings from the report suggest
• For primary focal hyperhidrosis treatment, there is only one FDA approved injection in the industry which is the botox injection by Allergan. It held the highest market share in the previous year’s numbers registered for this segment. Other rising players in the industry for botox medication includes Dysport, and Xeomin, which are currently sold off-labeled in the market.
• Various new treatment methods such as microwave therapy are providing impetus to the industry due to its effectiveness for removing excessive sweat problems permanently. miraDry launched by Miramar Labs is an effective solution for sweating disorders.
• Leading companies are into new product development for bringing up better products for the target illness treatment. For instance, Candela Corp. is engaged in development of a laser therapy for primary hyperhidrosis treatment. It is a laser treatment device especially made for axillary hyperhidrosis relief. However the response towards the device by patients is expected to be slow.
• The physiotherapy type segment of treatments is anticipated to grow gradually with the increasing awareness of physiotherapy techniques such as iontophoresis in the hyperhidrosis treatment market with an expected CAGR of 6.3% and estimated market value of USD 240.1 million in 2027.
• North America remains the key revenue generating geographical segment in hyperhidrosis treatment market. The geographical segment accounted for USD 388.7 million in 2018. Availability of research funds from public as well as private sources, availability of state-of-art technologies, presence of key market players in the region, favorable reimbursements scenarios for excessive sweating based diagnostics, rising 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
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For the purpose of this report, Reports and Data has segmented the Hyperhidrosis Treatment market on the basis of disease type, treatment type, distribution channel and region:
Disease type Outlook (Revenue in Million USD; 2017–2027)
• Primary Focal Hyperhidrosis
• Palmar Hyperhidrosis
• Plantar Hyperhidrosis
• Others
Treatment Type Outlook (Revenue in Million USD; 2017–2027)
• Medications
o Antiperspirants
Prescription strength antiperspirants
Over-the-counter antiperspirants
o Anticholinergics
o Botox (botulinum toxin) – A
• Physiotherapy
• Surgical Treatments
o Invasive Treatments
o Non-invasive Treatments
Laser Treatments
Microwave Energy Destruction of Sweat Glands
Distribution Channel (Revenue in Million USD; 2017–2027)
• Hospital Pharmacy
• Retail Pharmacy
• Online Prescription Stores
The report offers extensive summary of the top companies and also provides strategic recommendations for market players and new entrants to provide a competitive edge to the readers. The reports were collected using primary and secondary research methodologies.
Regional analysis covers:
• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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In addition to corporate strategy, Hyperhidrosis Treatment market throws light on different properties to curb the progress of fuel or industry. The focus is more on applicable sales strategies to increase the company’s productivity to achieve higher economic performance. Research reports use effective graphical presentation techniques such as tables, charts, graphs, diagrams, and info graphics.
Important Coverage in the Hyperhidrosis Treatment Market Report:
• Detailed analysis of Global Hyperhidrosis Treatment Market by a thorough assessment of the technology, product type, application, and other key segments of the report
• Investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
• Comprehensive analysis of the regions of the Hyperhidrosis Treatment industry and their futuristic growth outlook
• Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies
Finally, all aspects of the Hyperhidrosis Treatment market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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