Hyperhidrosis Treatment Market to Reach USD 950.7 Million, Globally, by 2031 at 5.1% CAGR: Allied Market Research

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Oct 13, 2022, 07:30 ET

PORTLAND, Ore., Oct. 13, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Hyperhidrosis Treatment Market by Type (Axillary hyperhidrosis, Palmar hyperhidrosis, Plantar hyperhidrosis, Others), by Treatment (Botulinum toxin injections, Topical treatment, Oral medication), by Age (Below 50 years, Above 50 years): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global hyperhidrosis treatment industry generated $575.3 million in 2021, and is projected to reach $950.7 million by 2031, manifesting a CAGR of 5.1% from 2022 to 2031.

Prime determinants of growth

Rise in prevalence of diseases such as axillary hyperhidrosis in developed countries, expanding product launches and product approvals, and surge in demand for improved healthcare services drive the growth of the global hyperhidrosis treatment market. However, lack of awareness and unfavorable reimbursement scenario restrain the market growth. On the other hand, rise in utilization topical treatment and technological advancements present new opportunities in the coming years.

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Covid-19 Scenario

The Covid-19 pandemic made a negative impact on the growth of the global hyperhidrosis treatment market. Hospitals either canceled or postponed the hyperhidrosis treatment due to shift in resources toward taking care of Covid-infected patients.
However, during the pandemic, many patients carried out treatments on their illnesses using self-medication or other unconventional methods.
Patients suffering from hyperhidrosis had a disproportionately larger rate of depression during the Covid-19 pandemic, particularly the female patients. In addition, some of these patients faced difficulties in receiving the therapy during the pandemic.

The axillary hyperhidrosis segment to maintain its lead position during the forecast period

Based on type, the axillary hyperhidrosis segment accounted for the highest market share in 2021, contributing to around three-fifths of the global hyperhidrosis treatment market, and is projected to maintain its lead position during the forecast period. Moreover, this segment is projected to manifest the largest CAGR of 5.4% from 2022 to 2031. This is due to high incidence of axillary hyperhidrosis among younger as well as adult generation. The report also analyzes the segments including palmar hyperhidrosis, plantar hyperhidrosis, and others.

The topical treatment segment to continue its dominant share throughout the forecast period

Based on treatment, the topical treatment segment contributed to the highest market share in 2021, accounting for more than three-fifths of the global hyperhidrosis treatment market, and is projected to continue its dominant share throughout the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 5.4% from 2022 to 2031. This is attributed to product innovation and effective & rapid effects of the topicals. The report also analyzes the segments including botulinum toxin injections and oral medication.

The below 50 years segment to continue its highest contribution throughout the forecast period

Based on age, the below 50 years segment accounted for the largest market share in 2021, holding around three-fifths of the global hyperhidrosis treatment market, and is estimated to continue its highest contribution throughout the forecast period. In addition, this segment is projected to register the fastest CAGR of 5.3% from 2022 to 2031. This is due to high incidence of hyperhidrosis disease in below 50-year age group. The report also analyzes the above 50 years segment.

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North America to maintain its leadership status throughout the forecast period

Based on region, North America held the largest market share in 2021, accounting for more than two-fifths of the global hyperhidrosis treatment market, and will maintain its leadership status throughout the forecast period. This is attributed to technological advancements in hyperhidrosis treatment, high incidence of disease, presence of key and robust hospital infrastructure in the region. However, Asia-Pacific is expected to grow at the largest CAGR of 5.9% from 2022 to 2031, owing to development of healthcare infrastructure and increase in investments projects in the region.

Leading Market Players

AbbVie Inc.
Avanor Healthcare Ltd.
Brickbell Biotech, Inc.
Dr August Wolff GmbH & Co. Kg Drugs
Dr. Reddy's Laboratories Ltd.
Eirion Therapeutics, Inc.
Eli Lilly and Company
Hugel, Inc.
Kaken Pharmaceutical Co., Ltd.
Intas Pharmaceuticals Ltd.
Roivant Sciences Ltd.
Theravida, Inc.

The report analyzes these key players and highlights various strategies such as new product launches, partnerships, expansion, and others to raise their market penetration and strengthen their position in the market. The report offers a detailed analysis that outlines product portfolio, operating segments, business performance, and key developments of each market player.

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