Wilmington, Delaware, United States, July 17, 2023 (GLOBE NEWSWIRE) -- The global palmar hyperhidrosis treatment market stood at US$ 318.1 million in 2022 and the global market is projected to reach US$ 423.2 million in 2031. Global palmar hyperhidrosis treatment is anticipated to expand at a CAGR of 3.3% between 2023 and 2031.
Investment in research & development activities to introduce advanced treatment options and address the unmet needs of patients offers lucrative opportunities to market players.
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Medical therapy, which includes the use of antiperspirants and anticholinergic medications, dominates the market due to non-invasive nature, ease of use, and widespread availability. Furthermore, technological advancements have enabled the development of improved formulations, drug delivery systems, and medical devices, which contribute to market expansion.
Key Takeaways of Market Report
- Global palmar hyperhidrosis treatment market to generate absolute dollar opportunity worth US$ 423.2 million until 2031.
- The global palmar hyperhidrosis treatment market is currently valued at US$ 318.1 million in 2022.
- Global palmar hyperhidrosis treatment market stood at US$ 417.3 million in 2023.
- Market value of the global palmar hyperhidrosis treatment market management from 2018 to 2022 is 2.8%
- North America is said to have a market share of 23.2%
- Asia Pacific market is estimated to have a market share of 39.3%
Palmar Hyperhidrosis Treatment Market: Key Players
- Dermadry received CE Mark approval for its new home-use iontophoresis device for the treatment of primary palmar hyperhidrosis. Iontophoresis is a non-invasive treatment that uses low-level electrical currents to block the production of sweat.
- a phase 3 study of topical 20% oxybutynin hydrochloride for the treatment of primary palmar hyperhidrosis was published in the Journal of the American Academy of Dermatology. The study found that topical oxybutynin hydrochloride was effective in reducing sweating in patients with primary palmar hyperhidrosis.
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Palmar Hyperhidrosis Treatment Market: Growth Drivers
- Technological advancements have played a crucial role in the treatment of palmar hyperhidrosis. One notable technological advancement is the use of minimally invasive procedures such as botulinum toxin injections. Botulinum toxin, commonly known as Botox, has gained popularity as an effective treatment for palmar hyperhidrosis.
- Use of iontophoresis devices is another significant technological advancement in the market. Technological advancements have led to the development of more targeted and precise surgical procedures. For severe cases of palmar hyperhidrosis, endoscopic thoracic sympathectomy (ETS) can be performed to interrupt the nerve signals responsible for excessive sweating.
- Increase in awareness about palmar hyperhidrosis is driving global palmar hyperhidrosis treatment market demand. Palmar hyperhidrosis is a condition characterized by excessive sweating of the palms. It is estimated that up to 3% of the global population is affected by palmar hyperhidrosis, with the prevalence being higher in adolescents and young adults.
- A number of factors contribute to the increasing awareness about palmar hyperhidrosis. The growing availability of information about the condition online and in the media is a key factor driving awareness. People are now more likely to be exposed to information about palmar hyperhidrosis, which can lead to them seeking diagnosis and treatment.
- The rise in the number of support groups and organizations for people with the condition is another factor contributing to increasing awareness about palmar hyperhidrosis. These groups provide a forum for people with palmar hyperhidrosis to connect with each other and share their experiences. This could help to reduce the stigma associated with the condition and encourage people to seek treatment.
Palmar Hyperhidrosis Treatment Market: Regional Landscape
- North America dominated the global industry in 2022. Prevalence of palmar hyperhidrosis in the region is estimated to be between 2% and 5%, which is higher than in other parts of the world.
Awareness about palmar hyperhidrosis is high in North America, which leads to more people seeking treatment. A number of effective treatments are available for palmar hyperhidrosis in the region, including both prescription and over-the-counter medications. Higher disposable income in North America allows people to afford treatment for palmar hyperhidrosis.
- Asia Pacific is projected to grow at a rapid pace during the forecast period. The region has a large population and significant prevalence of palmar hyperhidrosis, which has created a substantial patient pool.
Rise in healthcare expenditure, improving healthcare infrastructure, and increase in awareness about the condition drives demand for effective treatments. Moreover, advancements in technology, increased access to healthcare services, and surge in investment in research & development activities are propelling the palmar hyperhidrosis treatments market in Asia Pacific.
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Palmar Hyperhidrosis Treatment Market: Segmentation
- Treatment Type
- Botox (Botulinum Toxin)
- Medical Therapy
- Iontophoresis
- Endoscopic Thoracic Sympathectomy (ETS) Surgery
- End-user
- Hospitals
- Dermatology Clinics
- Aesthetic Centers
- Others (homecare settings, etc.)
- Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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