by The rosacea treatment market is growing with rising rosacea prevalence worldwide. Rosacea is a chronic and incurable skin condition, characterized by facial redness, pimples, and visible blood vessels. Rosacea treatments aim to relieve symptoms, reduce inflammation and redness, and prevent exacerbations and flare-ups. The global rosacea treatment market is estimated to be valued at US$ 1.91 billion 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 key trends:
Growing rosacea prevalence globally is one of the key trends spurring growth of the rosacea treatment market. According to the American Academy of Dermatology, over 16 million Americans suffer from rosacea. Other studies estimate over 400 million individuals worldwide are impacted by the condition. The rising number of rosacea cases can be attributed to growing urbanization, aging population, sedentary lifestyles, and stressful work environments – all triggers for rosacea exacerbations. This significant patient population base requires long-term treatment and management of their condition, fueling demand for advanced rosacea therapies.
SWOT Analysis
Strength: Rosacea treatment options have improved in recent years with FDA approval of new drugs and combination therapies options. This has increased treatment effectiveness.
Weakness: Rosacea has no definitive cause identified yet which makes treatment challenging. Additionally, existing options only manage symptoms and do not provide a cure.
Opportunity: Growing rosacea patient population globally driven by increased awareness and diagnosis provides market opportunity for new product launches.
Threats: Entry of generic versions once patents of branded products expire can erode prices in the long run. Additionally, the stigma around visible skin conditions remains a challenge.
Key Takeaways
The global Rosacea Treatment Market Share is expected to witness high growth over the forecast period from 2023 to 2030. Regional analysis
North America dominates currently due to higher diagnosis rates and availability of novel treatment alternatives. However, Asia Pacific is expected to grow at the fastest pace due to rising economic prosperity, increasing treatment seeking rates and expanding medical infrastructure in major countries.
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., and Mylan N.V. Galderma leads with its portfolio of prescription topicals like Soolantra and Finacea gels. Allergan is another major player commercializing Oracea, which is the first oral antibiotic approved for long-term rosacea management.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
