by Rosacea is a long-term skin condition that mainly affects the face and is quite common. It causes redness, pimples, swelling, and irritation on the cheeks, nose, forehead, and chin. Burning and stinging sensations are also experienced by patients suffering from rosacea. Conventional treatment involves prescription topical antibiotics, retinoids, and therapies to reduce redness and inflammation. However, recent technological advancements have introduced laser therapy, light therapy, and photodynamic therapy to precisely target inflammatory lesions and reduce symptoms. These non-invasive procedures help control rosacea flare-ups with minimum side effects.
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 Dynamics:
The growing prevalence of rosacea across different age groups and regions has emerged as a key driver for the rosacea treatment market. According to the National Rosacea Society, 16 million Americans suffer from rosacea and it is more common among adults aged 30-50.Further, new product launches and approvals with advanced mode of action have also boosted the market growth. For instance, in 2021, Foamix Pharmaceuticals received FDA approval for its MINOCYCLINE FOAM, 1%, the first topical foam formulation of minocycline for the treatment of inflammatory lesions of rosacea.
Segment Analysis
The rosacea treatment market can be segmented based on the treatment type into topical, oral and others. Amongst these, the topical treatment dominates the market accounting for over 70% market share due to higher adoption of topical creams and gels for rosacea treatment. The creams and gels helps patients achieve quick relief from symptoms of rosacea like redness and pimples.
PEST Analysis
Political: The government policies supporting research and development for rare disease treatment including rosacea fosters market growth. Various nations have implemented national plans to improve access to rare disease diagnosis and care.
Economic: Rising healthcare expenditure across developed and developing nations positively impacts the market. Higher disposable income facilitates adoption of advanced treatment options.
Social: Growing awareness about rosacea condition and available treatment options via social media and patient support groups influences market demand. Social stigma associated with visible skin conditions boosts treatment seeking rate.
Technological: Advancements in drug delivery technologies aids development of effective rosacea therapies. Novel formulations such as microsphere technology, hydrogel and foam based products provide improved efficacy and convenience.
Key Takeaways
The global Rosacea Treatment Market Share is expected to witness high growth on account of rising prevalence of rosacea worldwide.
Regional analysis: North America leads the market and is expected to maintain its dominance over the forecast period attributable to growing public health campaigns and available reimbursement structure for rare diseases in the region.
Key players: 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. Galderma’s Soolantra remains the top branded therapy for rosacea in terms of sales. Foamix Pharmaceuticals’ minimally systemic antibiotic Minocycline foam offers an improved treatment option.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
