Prevalence of skin diseases is increasing across the globe. People are unaware of most of the rare skin diseases. The market for lichen nitidus treatment is driven by growing prevalence of this disease in both developed and developing countries. In many people, the disease is a manifestation of other skin diseases such as eczema, thus remaining undiagnosed. There has been an increase in the geriatric population suffering from skin disease, which remain untreated for a long period of time. The global lichen nitidus treatment market is expected to grow at a CAGR of 8.7% during the forecast period and is estimated to reach USD 170 million by 2023.
Major Players in Lichen nitidus treatment Market
Some of the key players in the global market are Pfizer Inc. (U.S), Novartis AG (Switzerland), Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc. (U.S), Sanofi (France), GlaxoSmithKline plc. (U.K), AstraZeneca (U.K), Hubei Gedian Humanwell Pharmaceutical Co.,Ltd (China), Farmabios SPA (Italy), Horizon Pharma plc. (Ireland).
The global lichen nitidus treatment market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas dominate the global lichen nitidus treatment market. It comprises of two regions namely North America and South America. North America is the largest market owing to rising prevalence of skin diseases in the American counties and increase in geriatric population suffering from skin diseases. According to the American Academy of Dermatology, 50% of Americans over the age of 65 have some form of skin disease.
In Europe, extensive demand of skin care and topical products to treat skin diseases drives the market growth.
Asia Pacific is the fastest growing and potential market for the lichen nitidus treatment owing to increase in the number of dermatology clinics and rising prevalence of lichen nitidus in the developing countries. Rising prevalence of eczema and tuberculosis, which act as risk factors for lichen nitidus also drive the growth of this market.
The Middle East & Africa is expected witness steady growth due to rising demand for primary healthcare services such as diagnosis and medical devices.
The global lichen nitidus treatment market is segmented on the basis of types, which includes oral and topical treatment. On the basis of treatment, the market is segmented into corticosteroids, retinoid, antihistamines, phototherapy and other treatment. On the basis of end user, the market is segmented into hospitals, dermatology clinics, and others.
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