The global Hyperhidrosis Market is projected to experience significant revenue growth during the forecast period. According to the Journal of the American Academy of Dermatology (JAAD), hyperhidrosis affects 2.8 percent of the American population. This rising incidence of the condition has led several market players to invest in the treatment market.
Hyperhidrosis is a condition characterized by excessive sweating caused by the overactivity of sweat glands. It can primarily affect certain areas of the body such as the palms, feet, and underarms.
Market Growth Factors: Drivers: The increasing prevalence of depression and anxiety is a major driver for the revenue growth of the global hyperhidrosis market. The World Health Organization (WHO) reports a 25% rise in the global prevalence of depression and anxiety.
Moreover, growing awareness about hyperhidrosis and the presence of favorable reimbursement policies are expected to contribute to the market's revenue growth.
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Restraints: The significant impediments to market revenue growth include the steep treatment expenses, the absence of FDA-approved products tailored specifically for hyperhidrosis, and the limited efficacy of current treatments in providing a cure for the condition. Furthermore, market growth can also be hindered to some degree due to the adverse effects associated with the medications used in treatment. For example, Drystol, a topical hyperhidrosis treatment, can lead to discomfort such as itching, burning sensations, allergic reactions, dizziness, and localized swelling at the application site.
Opportunity: Potential prospects for participants in the hyperhidrosis market include the need to improve healthcare quality, availability of government research funding in emerging regions, and the increasing prevalence of depression and anxiety. Furthermore, the utilization of technologies in research and development to develop new drug molecules is expected to create significant growth opportunities for new entrants.
Geographic Market Scenario: Largest Market Share: North America is anticipated to hold the largest revenue share in the global hyperhidrosis market due to technological advancements, the presence of major market players, and a higher prevalence of secondary hyperhidrosis, primary hyperhidrosis, cancer, and cardiovascular diseases.
The high prevalence of primary and secondary hyperhidrosis in North America is expected to drive more individuals to seek treatment. A research paper published in the United States National Library of Medicine in October 2021 reveals that hyperhidrosis affects around 3% of the US population, with the highest occurrence among individuals aged 20 to 60. This prevalence has led to a 20% increase in the use of over-the-counter aluminum chloride hexahydrate in the country, indicating significant market revenue growth.
Furthermore, increased research and development activities for hyperhidrosis treatment products in the US are expected to boost the adoption of these products and drive revenue growth. Brickell Biotech Inc., for example, reported positive topline results from phase 3 pivotal Cardigan I and Cardigan II studies in October 2021, evaluating the efficacy of sofpironium bromide gel, 15% as a once-daily topical formulation in patients with primary axillary hyperhidrosis.
Fastest Growing Region: The Asia-Pacific region is projected to be the fastest growing in terms of revenue due to the increasing prevalence of hyperhidrosis and growing awareness of the condition among the population. These factors are expected to contribute to the revenue growth of the hyperhidrosis market in the region.
Key Market Trends and Innovations: August Wolff GmbH Co. KG Arzneimittel is conducting clinical trials on the efficacy and safety of topical administration of 1% glycopyrronium bromide (GPB) in patients with primary axillary hyperhidrosis. Centrale du Service de santé is working on a study comparing topical aluminum chloride to onabotulinumtoxinA intradermal injections in residual limb hyperhidrosis (lower limbs).
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Competitive Landscape: Organic and inorganic strategies have been adopted by market players. Journey Medical Corporation entered into an agreement with Padagis US LLC to protect the patents of QBREXZA, the first prescription cloth towelette for the treatment of primary axillary hyperhidrosis. Botanix Pharmaceuticals acquired Sofpironium bromide gel from Brickell Biotech for the treatment of primary axillary hyperhidrosis. Brickell Biotech, Inc. launched Sofpironium Bromide, 15% for the treatment of Axillary Hyperhidrosis.
Major companies in the market include AbbVie, Brickell Biotech, Eli Lilly and Company, Dermavant Sciences, Inc., Allergan plc, TheraVida Inc., GlaxoSmithKline plc, Kaken Pharmaceutical Co., Ltd, August Wolff GmbH.
Our Report and Offering: Our report provides historical data, forecasts, and revenue growth analysis at a global, regional, and country level. It offers insights into industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and the contribution of each regional and country market. Additionally, the report includes industry analysis, competitive landscape, company financials, and impact analysis.
Scope of the Hyperhidrosis Market: Disease Type Outlook:
- Primary Hyperhidrosis
- Secondary Hyperhidrosis
Medication Outlook:
- Botulin Toxin A
- Antiperspirants
- Anticholinergic
Product Type Outlook:
- Tablet
- IV/Injections
- Lotions, Solutions
Route of Administration Outlook:
- Oral
- Parenteral
- Topical
Distribution Channels Outlook:
- Online
- Offline
End Users Outlook:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Regional Outlook:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East Africa
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