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The rapidly rising cases of cancer across the globe and the increased use of radiotherapy for treatment are predicted to propel the market growth of radiodermatitis. Radiodermatitis is a side effect of radiation therapy, which is believed to occur in 85 percent of cancer patients who are treated with radiation, according to the National Institute of Health. In this regard, cancer patients are increasingly looking for effective palliative care alternatives to help them cope with the severe consequences of radiation. The growing number of clinical trials being conducted to assess the efficacy of a variety of radiodermatitis treatments is expected to boost the product pipeline. Further, the rising demand for eradicating radiation therapy-related side effects is expected to provide the radiodermatitis sector with promising growth potential during the forecast period. Due to the rising prevalence of cancer in the United States, North America is expected to be a substantial market for radiodermatitis in the coming years. Moreover, the growing number of public and private healthcare organisations actively raising awareness about radiodermatitis management and treatment is expected to positively impact the industry.
The factors such as the escalating number of product launches concerning radiodermatitis treatment, fuelled by the rising consumer demand are expected to boost the overall market growth in the forecast years. For instance, in July 2017, Stratpharma AG, a company that specialises in manufacturing topical products, launched StrataXRT, a topical wound dressing for radiation dermatitis. StrataXRT is a flexible wound dressing that promotes a moist wound healing environment for quicker healing and re-epithelialisation following radiation therapy. Meanwhile, in November 2021, Enveric Biosciences (NASDAQ: ENVB), a leading biotechnology firm, announced that its EV102 has demonstrated positive preclinical results by helping in significantly reducing the dermatitis severity and skin redness. The EV102 is the company’s topical prescription treatment for radiodermatitis based on cannabidiol. Such developments are expected to support the growth of the radiodermatitis industry in the forecast period.
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The major players in the global radiodermatitis market are BMG Pharma S.p.A., and Stratpharma AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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