Axillary Hyperhidrosis Treatment Market is projected to exhibit a CAGR of 6.7%, and cross a worth of US$ 3.3 Billion by forecast ending 2033 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
By distribution channel, the retail pharmacies dominated the global axillary hyperhidrosis treatment market withholding the total market share of about 34.2% by the end of 2022, owing to the convenience and ease of accessibility to range of products from OTC/off label products to licensed products.
NEWARK, Del, May 01, 2023 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, the valuation for the global axillary hyperhidrosis treatment market was around US$ 1.6 Billion in 2022 and is projected to exhibit a CAGR growth of close to 6.7% over the forecast period, with an estimated valuation of US$ 3.3 Billion in 2033.
Axillary hyperhidrosis is a common condition that affects Millions of people worldwide, causing embarrassment and discomfort. There are various non-invasive and minimally invasive treatments available in the market that uses advanced technology to target the sweat glands in the underarm area, providing long-lasting relief from excessive sweating. Botox injections and miraDry are such procedures that give satisfactory results with minimalistic or no pain while treating the patients. This has resulted in higher uptake from patients in recent years, as a result, owing to this trend, the market is expected to expand in the future as well.
The prevalence of axillary hyperhidrosis is increasing worldwide, which is driving the demand for effective treatment options.
As awareness of axillary hyperhidrosis is growing, more patients are being diagnosed and seeking treatment, which is causing the market for axillary hyperhidrosis treatment to further expand. Advances in technology have led to the development of new and innovative treatment options, such as minimally invasive procedures and non-invasive devices, which are driving the growth of the axillary hyperhidrosis treatment market.
Many patients with axillary hyperhidrosis seek treatment for cosmetic reasons, as excessive underarm sweating can cause embarrassment and social stigma. This is driving the demand for cosmetic treatments that address axillary hyperhidrosis. Combination therapies, which use multiple treatment modalities to address axillary hyperhidrosis, are becoming increasingly popular among patients and healthcare providers. This is driving the growth of the market for combination therapies for axillary hyperhidrosis treatment.
Overall, these factors are contributing to the growth of the axillary hyperhidrosis treatment market, and are expected to continue to drive demand for effective and innovative treatment options in the coming years.
Key Takeaways:
Drug therapy is the leading segment of treatment among patients and professionals, and held about 62.7% market share in 2022, due to its non-invasive nature and high efficacy in reducing excessive sweating in patients.
By distribution channel, the retail pharmacies dominated the global axillary hyperhidrosis treatment market withholding the total market share of about 34.2% by the end of 2022, owing to the convenience and ease of accessibility to a range of products from OTC/off-label products to licensed products.
By region, North America is leading in the global axillary hyperhidrosis treatment market and is expected to continue to do so with a projected CAGR rate of 5.4% during the forecasted years.
“Increasing adoption of combination therapies and growing awareness and diagnosis of the condition to create the lucrative potential for the market to grow,” says an analyst at Future Market Insights (FMI).
Key participants in the market for axillary hyperhidrosis treatment employ expansion of the company through acquisitions, mergers, collaborations, and partnerships. Key players are concentrating on strategies like expanding sales and implementing new technology for the creation of novel products.
In December 2021, Sientra, Inc. announced that it had entered into an agreement to acquire all of the assets related to the novel fat grafting technology from AuraGen Aesthetic, LLC.
In August 2022, GSK plc announced that it had acquired Affinivax, Inc (Affinivax), a clinical-stage biopharmaceutical company based in Cambridge, Boston, Massachusetts.
Key Players:
Allergan plc. (AbbVie)
Journey Medical Corporation (Dermira, Inc.)
Riemann A/S (Orkla)
SweatBlock
Certain Dri
miraDry, Inc. (Sientra)
STRATUS PHARMACEUTICALS INC.
Duradry
Persn & Covey
GlaxoSmithKline Plc.
Carpe
SweatStop® International
CORAD Healthcare
ZeroSweat
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the axillary hyperhidrosis treatment market in its latest study, presenting a historical demand assessment of 2017 to 2022 and projections for 2023 to 2033. The global axillary hyperhidrosis treatment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on treatment – [drug therapy (antiperspirants (both OTC & Rx) (antiperspirants spray, antiperspirants roll-on, antiperspirants wipes, antiperspirants lotion & gel) antihypertensive drugs, anticholinergic agents, alpha-adrenergic agonists), botulinum toxins, medicated wipes, and microwave therapy], distribution channel - (hospitals, general physician’s clinics, retail pharmacy chains, and drug stores (online sales and manufacturer websites)), across seven regions of the world.
5.1.3. Global Dermatology Therapeutics Market Overview
5.2. Forecast Factors - Relevance & Impact
5.2.1. Increasing Prevalence of Axillary Hyperhidrosis
5.2.2. Treatment Seeking Rate (%)
5.2.3. Adoption of Various Treatment Modalities
5.2.4. Greater Demand for Non-Invasive Procedures
5.2.5. Increasing Initiatives by Manufacturers to Educate the General Population
5.2.6. Products in Pipeline
5.2.7. Availability of Products
5.3. Market Dynamics
5.3.1. Drivers
5.3.2. Restraints
5.3.3. Opportunity Analysis
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
