The Global Rosacea Treatment Market is estimated to be valued at US$ 1.91 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Rosacea is a chronic inflammatory skin condition that commonly affects the face. It leads to visible blood vessels and pimple-like lesions on the face. Topical therapeutics including creams, gels and lotions are widely used for treatment of mild to moderate rosacea symptoms such as redness and pimples.
Market key trends:
Rising prevalence of rosacea is a major factor driving the rosacea treatment market growth. According to American Academy of Dermatology, around 16 million Americans are suffering from rosacea. In Europe, approximately 22 million people are affected by rosacea. Growing awareness about rosacea treatment options and availability of new products are also propelling the market growth. Furthermore, development ofcombination therapies to treat both inflammatory and non-inflammatory lesions of rosacea is expected to create lucrative opportunities for key players in the market. However, presence of alternative treatment options and social stigma associated with rosacea condition may hamper the market growth.
SWOT Analysis:
Strengths: Growing awareness about rosacea and its treatment. Presence of major pharmaceutical companies developing new drugs.
Weaknesses: Rosacea has no permanent cure and treatments only provide symptomatic relief. High cost of newer biologics and laser procedures.
Opportunities: Large population affected provides market potential. Development of novel drug delivery methods and therapeutics.
Threats: Increased generic competition once patents expire on leading brands. Side effects of long-term drug usage.
Key Takeaways:
The Global Rosacea Treatment Market Trend is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing availability of advanced therapies. Regionally, North America is expected to dominate the market during the forecast period due to growing patient population and rapid adoption of newer treatment approaches in the region.
The global rosacea treatment market size for 2023 is US$ 1.91 Bn. The market is expected to grow as rosacea affects around 16 million people in the United States alone. New product launches catering to different severity levels are also fueling market expansion.
Regional analysis indicates Europe is also a major market for rosacea treatment due to increasing research on the condition and availability of reimbursements supporting quality healthcare. Asia Pacific is anticipated to exhibit lucrative growth over the next decade with rising rosacea prevalence and improving access to therapies.
Key players operating in the rosacea treatment market are Galderma SA, Allergan plc (AbbVie Inc.), Bayer AG, Pfizer Inc., Leo Pharma A/S, Sol-Gel Technologies Ltd., Foamix Pharmaceuticals Ltd., Mayne Pharma, Group Limited, AnaptysBio, Inc., Mylan N.V.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
