Sat, 23 Oct 2021

Rising incidences of hyperhidrosis, initiatives by non-profit organizations for awareness and treatments, increasing treatment alternatives, and rise in expenditure on research and development by leading players of the industry are key factors contributing to high CAGR of hyperhidrosis treatment market during the forecast period.

According to the current analysis of Reports and Data, The Hyperhidrosis Treatment Market is projected to grow at a rate of 5.7% in terms of value, from USD 1.27 Billion in 2019 to reach USD 2.10 Billion by 2027. 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.

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.

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Market Dynamics:

Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.

Surging demands and transition to patient-centric care delivery across geographies will change pharma and healthcare market trends through 2027.

Competitive Outlook:

The report focuses on current and emerging trends in the healthcare industry such as incorporation of IoT and Machine Learning to enhance efficiency of medical products. Top companies in the market are focusing on R&D activities to expand their product offerings and cater to unmet medical needs.

This report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.

Top companies operating in the market and profiled in the report include:

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.

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The report segments the Hyperhidrosis Treatment market on the basis of product types, applications, end-use industries, and regions among others. The report offers insights into key factors influencing the revenue growth of the segment and provides information about lucrative investment opportunities to stakeholders, investors, and clients.

Hyperhidrosis Treatment Market Segmentation:

Disease Outlook (Revenue, USD Million; 2017-2027)

Primary Focal Hyperhidrosis

Palmar Hyperhidrosis

Plantar Hyperhidrosis

Others

Treatment Outlook (Revenue, USD Million; 2017-2027)

Medications

Antiperspirants

Prescription strength antiperspirants

Over-the-counter antiperspirants

Anticholinergics

Botox (botulinum toxin) – A

Physiotherapy

Surgical Treatments

Invasive Treatments

Non-invasive Treatments

Laser Treatments

Microwave Energy Destruction of Sweat Glands

Distribution Channel Outlook (Revenue, USD Million; 2017-2027)

Hospital Pharmacy

Retail Pharmacy

Online Prescription Stores

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Regional Analysis covers:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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