Topical Agents to Remain Most Widely Used Product Type for Treatment of Radiodermatitis, finds TMR
The global radiodermatitis market is consolidated, with the top five players accounting for a share of just over 47% in 2015. These are 3M Healthcare, Smith & Nephew plc, Molnlycke Health Care, Acelity, and Convatec, Inc. Transparency Market Research finds that success in the radiodermatitis market is dependent on the ability of pharma and medical device companies to develop innovative products that can address unmet consumer needs and also help differentiate the company from its competitors. Stratpharma AG, for instance, launched the StrateXRT in 2016 – a class 1 wound dressing listed with the US FDA and a medical device registered with the European CE mark. This novel and flexible wound dressing is designed for the prevention as well as treatment of radiation dermatitis. Browse Global Strategic Business Report: http://www.transparencymarketresearch.com/radiodermatitis-market.html The opportunity in the global radiodermatitis market was worth US$299.6 mn in 2015 and, registering a CAGR of 3.9% from 2016 to 2024, will be worth US$421.5 mn by 2024. Multichannel Distribution an Effective Approach in Radiodermatitis Market Topical agents are the most preferred and prescribed products in the radiodermatitis market. Accounting for a share of just under 70% in 2015, the revenue generated by this segment is projected to cross US$300 mn by 2024. The topical segment is anticipated to register a 4.2% CAGR during the forecast period, higher than any other product segment. The oral medication segment holds a negligible share in the global radiodermatitis market and is anticipated to further lose market share by 2024. By distribution channel, the retail pharmacy store segment led the radiodermatitis market in 2015, closely followed by the online store segment. TMR finds that on the whole, a multichannel approach works increasingly well in the radiodermatitis market owing to the nature of the onset of radiodermatitis, which can occur either during or after radiation therapy. Geographically, Asia Pacific led the global radiodermatitis market in 2015, accounting for a share of over 45% that year. This region, along with Latin America, are both anticipated to register a CAGR of 4.0% from 2016 to 2024, emerging as two of the most lucrative markets for radiodermatitis