July 14, 2024

Increasing Demand For Topical Therapeutics To Boost Growth Of The Global Rosacea Treatment Market

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 Overview:
Rosacea is a chronic and recurrent skin disease that mainly affects the cheeks, forehead, chin, and nose. It causes redness, flushing, dilated blood vessels, and pimple-like lesions. Most people suffering from rosacea experience redness and flushing as the main symptoms. Topical therapeutics such as anti-inflammatory and antibiotic drugs are widely used for effective rosacea treatment. This include topical gel, cream, and ointments containing metronidazole, azelaic acid, ivermectin, and sodium sulfacetamide. The advantages of topical therapeutics are their localized treatment, minimal side effects, and cost-effectiveness compared to oral medications or laser therapies.

Market key trends:
One of the key trends in the global rosacea treatment market is the increasing preference for topical therapeutics over oral medications and laser therapies. Topical treatments have gained significant popularity owing to their localized action, minimal systemic absorption, and fewer side effects. For instance, the launch of topical brimonidine tartrate gel 0.33% (Mirvaso) by Galderma has been a key breakthrough in the rosacea treatment market. It selectively constricts blood vessels in the skin to reduce facial redness associated with rosacea. Another major trend is the development of new drug formulations and delivery systems to improve the efficacy and convenience of topical therapies. Manufacturers are focusing on advanced gel, cream, and microneedle patch formulations for optimizing skin permeation and pharmacokinetics of drugs.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in rosacea treatment market is low as it requires huge capital investment for R&D. Additionally, established players have strong brand loyalty.

Bargaining power of buyers: The bargaining power of buyers is low due to the availability of limited treatment options for rosacea. Patients prefer branded drugs for effective treatment.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of alternative sourcing options and suppliers for APIs and other raw materials.

Threat of new substitutes: Threat from new substitutes is low as rosacea has limited treatment choices currently. Development of newer therapeutic agents is a challenge requiring extensive clinical research.

Competitive rivalry: The competitive rivalry is high among the major players due to their extensive product portfolios and strong geographic presence worldwide.

Key Takeaways
The Global Rosacea Treatment Market Trend is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing prevalence of rosacea globally. The market size for 2023 is US$ 1.91 Bn.

Regional analysis
North America holds the major share in the rosacea treatment market and is expected to continue dominating over the forecast period. This is attributed to thegrowing prevalence of rosacea in the region. Europe follows North America, with appreciable market share due to availability of advanced treatment options. However, Asia Pacific is expected to exhibit the fastest growth rate owing to rising rosacea patient pool and improving healthcare infrastructure in the region.

Key players analysis
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 SA dominates the rosacea treatment market owing to its strong portfolio of prescription drugs.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it