Rosacea is a facial skin disorder that affects millions of people around the world; however, awareness about the disease has remained extremely low, with the National Rosacea Society estimating that nearly 95% of sufferers being ignorant about the disease before their diagnosis.
Rosacea Therapeutics Market: Introduction
Research on how rosacea affects certain individuals is yet to yield any concrete answers. Currently, there is no cure for rosacea, however, through effective management, the symptoms can be managed. In addition to self-help, topical medicines, including metronidazole cream and ivermectin cream are usually prescribed by dermatologists for managing the symptoms. People with severe rosacea are often prescribed a combination of creams and antibiotics. Commonly used antibiotics used in rosacea management include tetracycline and oxytetracyline. Owing to the side effects of conventionally used management options, a number of new products have been launched in the market. Brimonidine tartrate has been well-received in the market, owing to its quick action, and long-lasting effect. While it is not completely free from side effects, they are relatively lesser than some of the gels available in the market.
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Considering the complexity involved in rosacea treatment and management, the medical therapy is categorized into various subtypes including facial redness, bumps and pimples, skin thickening, and eye irritation. These are among the most common symptoms for rosacea among patients, and effective treatment is often based on getting the correct diagnosis about the disease.
Market Forecast on Rosacea Therapeutics: 2016-2024
The global market for rosacea therapeutics is expected to grow steadily during the forecast period 2016-2024, owing to rising awareness among people. Increasing smartphone ownership and penetration of internet has enabled quick and effective dissemination of information through which many people have become aware of this ailment. As rosacea can be effectively managed through over-the-counter gels, many pharma companies have launched their products in the market.
The U.S. remains a lucrative market for rosacea therapeutics, owing to high awareness among both patients and end-users. Owing to the high demand for rosacea therapeutics in the U.S., the North America market is anticipated to remain the most lucrative for manufacturers during the forecast period. Western Europe is another key region for the rosacea therapeutics market, owing to high product availability and pervasive awareness.
Asia Pacific is a robustly expanding market for rosacea therapeutics, owing to the large consumer base in the region. Although awareness levels are lower than North America and Western Europe, the region remains important for manufacturers owing to its high population. The Asia Pacific rosacea therapeutics market is anticipated to increase at a steady CAGR during the forecast period 2016-2024 and offer lucrative opportunities to key players.
Key Players in Rosacea Therapeutics Market
Leading companies in the global rosacea therapeutics market include Hovione FarmaCiencia SA, Merz Pharma GmbH & Co. KgaA, Promius Pharma, LLC, Amorepacific Corporation, Delenex Therapeutics AG, TWi Pharmaceuticals, Inc. , Allergan Plc, Foamix Pharmaceuticals Ltd., and Valeant Pharmaceuticals International, Inc.