Hyperhidrosis is a medical condition where a person sweats excessively. This excessive sweating often occurs in areas such as armpits, palms, soles of feet and forehead. Hyperhidrosis treatments provide methods to reduce excessive sweating through antiperspirants, medicines and surgery. These treatments are helpful in improving quality of life and confidence of patients suffering from hyperhidrosis. Medications such as botox injections and iontophoresis are widely used to control sweating. Increasing prevalence of hyperhidrosis disease globally is generating high demand for advanced and effective treatment options. The global Hyperhidrosis Treatment Market is estimated to be valued at US$ 641.54 Mn in 2023 and is expected to exhibit a CAGR of 25.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving growth in the hyperhidrosis treatment market is rising adoption of minimally invasive procedures. Procedures such as endoscopic thoracic sympathectomy and microwave ablation offer permanent cure for hyperhidrosis with minimal wounds, pain and shorter recovery time compared to open surgeries. Furthermore, these procedures are covered by insurance in many countries which is increasing their acceptance among patients. According to American Society for Dermatologic Surgery, the number of minimally invasive hyperhidrosis procedures performed in the U.S. increased from around 5,000 in 2010 to over 20,000 in 2018. This rising preference for minimal invasive options is expected to positively influence the hyperhidrosis treatment market over the forecast period.
Segment Analysis
The Global hyperhidrosis treatment market Size is dominated by the axillary hyperhidrosis segment. Axillary hyperhidrosis, commonly known as excess underarm sweating, accounts for around 80% of hyperhidrosis cases. This is because the underarms have a high concentration of sweat glands and any issues tend to cause excessive sweating in this area. The segment is expected to remain dominant over the forecast period due to the high prevalence of axillary hyperhidrosis symptoms.
Key Takeaways
The global Hyperhidrosis Treatment market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 641.54 Mn by 2024, growing at an impressive CAGR of 25%.
Regional analysis: North America currently dominates the global market and is expected to maintain its position through 2030. This is owing to advanced healthcare facilities and higher treatment rates for hyperhidrosis in the region. However, Asia Pacific is projected to register the highest growth during the forecast years due to rising awareness levels and improving healthcare penetration in developing countries.
Key players: Key players operating in the Hyperhidrosis Treatment market are Medtronic, Abbott, Stryker, B. Braun Melsungen AG, Boston Scientific Corp., Baxter, OMRON Healthcare, Inc. Medtronic and Abbott are currently the market leaders due to their strong product portfolio and global market presence. The market is expected to witness increased investments from these players to consolidate their market share through new product launches and acquisitions over the coming years.
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