The global cutaneous radiation injury treatment market size is expected to be valued at US$ 4.1 Billion in 2022. It is likely to exhibit growth at a CAGR of 2.9% in the forecast period from 2022 to 2032. Increasing cases of cancer leading to the rising usage of radiation therapy are anticipated to bolster growth in future. As per FMI, sales of cutaneous radiation injury treatment options are set to reach US$ 8.6 Billion in 2032.
| Report Attribute | Details |
| Cutaneous Radiation Injury Treatment Market Estimated Base Year Value (2021) | US$ 3.7 Billion |
| Cutaneous Radiation Injury Treatment Market Expected Market Value (2022) | US$ 4.1 Billion |
| Cutaneous Radiation Injury Treatment Market Anticipated Forecast Value (2032) | US$ 8.6 Billion |
| Cutaneous Radiation Injury Treatment Market Projected Growth Rate (2022-2032) | 2.9% CAGR |
Cutaneous radiation injuries occur on a gross, cellular, and functional level. These are considered to be a significant modality in the management of cancer, along with chemotherapy and surgery.
Some of the most common side effects of cutaneous radiation injuries are swelling caused by a buildup of fluid called edema, itchiness, skin redness, and tingling.
Demand for cutaneous radiation injury treatment solutions is likely to surge with the rising prevalence of acute skin reactions that mainly range from confluent moist desquamation to mild. The introduction of cutting-edge technologies by key players is another major factor that is set to create new growth opportunities in the global market.
Cutaneous radiation injury has nowadays become a serious concern with the rising cancer morbidity and wide usage of radiation for cancer therapy. Research and development activities aiming to discover new treatment options for these injuries are anticipated to augur well for the global market.
As the prevalence of cancer is increasing worldwide, the need for radiation therapy is also surging at a rapid pace. It is leading to changes in the tumors and tissues where radiation therapy is given, thereby boosting the cutaneous radiation injury treatment market growth.
Increasing cases of cardiovascular surgeries and rising prevalence of cancer among the ever-increasing population are some of the other factors that are expected to bolster the market. According to the World Health Organization (WHO), cancer accounted for approximately 10 million deaths across the globe in 2020. The most common types of cancer are rectum, lung, prostate, colon, and breast cancers. This trend is estimated to continue in future years, thereby pushing the market.
In underdeveloped countries, cancer and cutaneous radiation injury treatment are an expensive process. Thus, not many people can afford these facilities. Also, regulatory bodies in these countries lack the fund required to install certain healthcare devices in hospitals for advanced care options. These factors may hamper the sales of cutaneous radiation injury treatment solutions in the evaluation period.
Presence of a well-developed healthcare infrastructure is expected to propel the North America cutaneous radiation injury treatment market share in the assessment period. Also, favorable reimbursement policies available in the U.S. and Canada are likely to contribute to this growth.
High demand for radiation therapy owing to the rising cases of cancer is another crucial factor that is projected to aid the regional market. The American Cancer Society, for instance, stated that in 2021, there were an estimated 1.9 million new cases of cancer in the U.S. and about 608,570 deaths. These numbers are expected to surge at a fast pace in the upcoming years, thereby propelling the North America market.
Asia Pacific is projected to remain in the second position, followed by North America. Increasing awareness programs conducted by government and private agencies in India and China to educate the masses regarding the available treatment options for cancer are likely to push the demand for cutaneous radiation injury treatment options.
Moreover, the availability of relatively low cost treatment options and high patient pool in these countries are anticipated to bode well for the regional market. The ongoing development of new drugs and increasing R&D activities conducted by key companies in this region are also expected to aid growth.
Some of the prominent companies operating in the global cutaneous radiation injury treatment market include AstraZeneca, Merck & Co., Teva Pharmaceutical, Novartis AG, Eli Lilly and Company, Pfizer Inc., Hoffmann-La Roche Ltd., Johnson and Johnson, and Amgen among others.
The majority of the leading players in the market are increasingly focusing on joining hands with cancer research institutions to help them find new treatment options for cutaneous radiation injuries.
A few other key players are engaging in joint ventures, collaborations, and mergers & acquisition activities with start-up firms and international companies to expand their product portfolios and generate high shares in the global market.
| Report Attribute | Details |
| Growth Rate | CAGR of 2.9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Customization | Available Upon Request |
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The global cutaneous radiation injury treatment market is likely to reach US$ 8.6 Billion in 2032.
North America is set to dominate the cutaneous radiation injury treatment market in the forecast period.
AstraZeneca, Merck & Co., Teva Pharmaceutical, Novartis AG, Eli Lilly and Company, Pfizer Inc., and Hoffmann-La Roche Ltd. are some of the leading companies in the cutaneous radiation injury treatment market.
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Cutaneous Radiation Injury Treatment Market
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