QY Research recently announced the publication a new research report. The latest publication offers a detailed understanding of the factors that are likely to drive and shape the future of the global cutaneous fibrosis treatment market. The research report, titled “Global Cutaneous Fibrosis Treatment Market Size, Status and Forecast 2019-2025”, provides a comprehensive overview of the market. It underlines the lucrative opportunities and charts out bold plans for overcoming the obstacles. Analysts have used Porter’s five forces analysis and SWOT analysis to provide the readers an accurate explanation of the market dynamics.
The global cutaneous fibrosis treatment market is expected to reach US$723 mn by the end of 2025 from US$475 mn in 2018. During the forecast years of 2019 and 2025 the global market for cutaneous fibrosis is expected to register a CAGR of 6.2%.
Global Cutaneous Fibrosis Treatment Market: Drivers and Restraints
The global cutaneous fibrosis treatment market has been steadily rising due to a high incidence of skin diseases. Diagnosis of skin disorders and disease due to cutaneous fibrosis, such as scleroderma, keloids, and hypertrophy scars is expected to boost market growth in the coming years. Market is also expected to be driven by the increasing number of clinical trials for better drugs and treatments. Improving investments in research and development have also created a positive impact on the global cutaneous fibrosis treatment market.
However, on the flip side, lack of awareness about this rare disease is projected to hamper the growth of the market. Delayed diagnosis of the disease is expected to act as a major restraint for the global cutaneous fibrosis treatment market.
Global Cutaneous Fibrosis Treatment Market: Segments
The global cutaneous fibrosis treatment market is segmented into type and application. On the basis of type, the global market is divided into corticosteroids, anti-fibrotic drugs, and immunoglobulins. In terms of application, the global market is segmented into hospital pharmacies, online pharmacies, and retail pharmacies. Out of these, the hospital pharmacies segment is expected to lead the global market as it is a trusted distribution channel.
Global Cutaneous Fibrosis Treatment Market: Regional Segments
On the basis of geography, the global cutaneous fibrosis treatment market is segmented into United States, Europe, China, Japan, Southeast Asia, India, and Central and South America. Out of these, North America is expected to dominate the global market in the coming years. Increasing number of surgical procedures, higher rate of diagnosis, and rise in geriatric population are expected to contribute this regional market during the forecast period.
Global Cutaneous Fibrosis Treatment Market: Key Players
Some of the leading players operating in the global cutaneous fibrosis treatment market are Pfizer, Novartis, Sanofi, Merck, Roche, GlaxoSmithKline, Bayer, Boehringer Ingelheim, Horizon Pharma, and Bristol-Myers Squibb. Companies are expected to focus on clinical trials and research and development in the coming to beat the competition. For instance, miRagen Therapeutics, Inc. is testing the REMLARSEN (MRG-201) for treating cutaneous fibrosis. The trial is in its Phase 2.