Companies in Radiation Dermatitis Market Leverage Nanomaterials for Developing Novel Therapies for Wound Healing, Valuation to Touch ~US$ 700 Mn by 2030: TMR

ALBANY, N.Y., March 9, 2021 /PRNewswire/ -- Radiation dermatitis is a predominant sequela of various radiation therapies, and is characterized by moderate-to-acute radiation-induced skin toxicity, such as acute erythema and desquamation. Patients undergo radiation therapies for range of ailments, most notably cancer. Healthcare companies and industry players are keen on testing and validating a variety of topical agents and wound dressings that have potential to treat acute radiation dermatitis. However, due to prominent absence of a common therapeutic standard, ongoing studies investigating new mechanisms of actions expand the prospect in radiation dermatitis market. Of late, non-steroidal ingredients in creams and agents for wound dressings with self-healing properties have gathered traction among companies. Many of these agents do provide symptomatic relief, but prolonged relief without side effects are still absent. The goal is being pursued by pioneers exploring alternative treatments in the radiation dermatitis market.

The market was pegged at ~US$ 400 Mn in 2019, and is slated to expand at a modest CAGR of ~5% during 2020 – 2030.

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Key Findings of Radiation Dermatitis Market Study

• Incessant Focus on Unveiling New Extracts and Topical Ingredients

Various types of ingredients are being incorporates in meeting the patients' needs for better therapeutics for radiation dermatitis. The advent of new extracts for corticosteroid creams and ointments is motivated by the concern of more efficacy as well as reduced side-effects. In this regard, corticosteroid creams and ointments are gathering traction. The rise in prevalence of some cancers such as breast cancer has indirectly spurred the growth potential in the radiation dermatitis market. The high mortality of breast cancer in low- and middle-income countries (LMICs) is a case in point. Patients undergoing radiotherapies in breast cancer suffer from numerous mild symptoms, spurring the demand for better topical ingredients in pastes and ointment.

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• Mechanisms of Film-forming Gels Extensively Being Pursued

Relentless research has been done in studying the mechanism underlying various wound dressings. Cutting-edge wound management solutions are gathering traction, particularly for healing complex wounds due to acute radiation dermatitis. There is an unmet demand for biocompatible and biodegradable materials to manage the symptoms. In the wake of demand for faster wound healing for certain cancers, the prospect of traditional Chinese medicine (TCM) is relentlessly being pursued. Companies have begun expanding their production capabilities to this end. They are also keen on leveraging the potential of film-forming gels for temporary relief. Further, the prevalence of cancer motivates companies toward developing novel dressings based on these film-forming gels for managing radiation-induced skin changes.

New Strategies Help Players Overcome Supply Chain Disruptions

Companies are keen on adopting strategies that help them overcome supply chain shocks due to COVID-19. The pandemic led to some of the most unprecedented outbreaks and economic slump in 2020. Top players are opting for new contingency plans to get microeconomic fundaments on track. This is reflected in some of their recent production and distribution activities.

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Radiation Dermatitis Market: Key Drivers

• The growing prevalence of cancers is a key trend fueling the need for wound dressings for mitigating the symptoms of radiation dermatitis.
• Strides being made in nanotechnology are boosting product development cycles
• The advent of new radiation therapies for cancer will shape the future contours of the radiation dermatitis market.
• Growing research and development on wound care is boosting the development of new topical ingredients

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Radiation Dermatitis Market: Key Players

• InterMed S.A.
• BMG PHARMA S.p.A.
• ConvaTec Group plc
• Integra Lifesciences Holdings Corporation
• Smith & Nephew plc
• 3M Company

Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:

Wound Dressings Market: https://www.transparencymarketresearch.com/wound-dressing-market.html

Radiation Therapy Market: https://www.transparencymarketresearch.com/radiation-therapy-market.html

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