Xerostomia Therapeutics Market Segmentation by Product (Artificial Saliva, Salivary Stimulants, Saliva Substitutes, Drugs, Salivary Pens, and Others); and by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others) – Global Demand Analysis and Opportunity Outlook 2021-2029
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In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
The xerostomia therapeutics market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The increase in adoption of radiation therapy and chemotherapy is likely to lead to an increased incidence of xerostomia, which is estimated to predominantly drive the xerostomia therapeutics market. Other factors driving the market growth include increasing usage of prescription medicines, easy availability and cost-effectiveness of medicines, growing geriatric population base and increasing prevalence of diseases, such as Sjogren’s syndrome, HIV, diabetes, and Alzheimer’s disease, among other diseases. According to the Centres for Disease Control & Prevention (CDC), every year about 650,000 cancer patients receive chemotherapy in an outpatient oncology clinic.
The market is segmented based on product into artificial saliva, salivary stimulants, saliva substitutes, drugs, salivary pens and others, out of which, the salivary stimulants segment is anticipated to grab the largest share by the end of 2021 on account of being available in various forms such as mints, sugar-free chewing gums, sprays and mores. A wide range of substitutes for each product is easily available and accessible to patients, thus is expected to drive the growth of the segment.CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of distribution channel, the retail pharmacies and hospital pharmacies segments in the global xerostomia therapeutics market are projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the presence of retail and hospital pharmacies, serving to a larger customer base. Moreover, the online pharmacy segment is estimated to grow at a higher rate during the forecast period due to growing internet penetration in developing countries and changing trends of ordering medicine online.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the North America is predicted to grow at the highest CAGR over the forecast period owing to significant factors supporting the growth of this market in the region which is due to the prominent growth of cases in xerostomia as well as various other diseases associated with dry mouths such as rheumatoid arthritis, HIV, and Sjogren's syndrome. Sjogren Syndrome Foundation frequently carries out awareness camps regarding the therapies and remedies for the people with xerostomia across U.S. and Canada. Furthermore, expanding medical and healthcare infrastructure, ease of availability of treatments, and beneficial compensation scenario are some of the important factors which are helping the market to grow in the North American region. Asia Pacific’s market is expected to gain traction and is expected to grow at a faster rate during the forecast period. Increased spending towards healthcare, growing understanding and awareness about chronic diseases are anticipated to strengthen the xerostomia therapeutics market in the Asia Pacific.
The global xerostomia therapeutics market is further classified on the basis of region as follows:
Our in-depth analysis of the global xerostomia therapeutics market includes the following segments:
Ans: Increasing adoption of chemotherapy and radiotherapy in cancer treatment and growing prevalence of chronic diseases are the key factors driving market growth.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Ans: Lack of awareness of xerostomia in developing and under002Ddeveloped economies is estimated to hamper market growth.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the increasing awareness about xerostomia and increasing healthcare facilities.
Ans: The major players dominating the xerostomia therapeutics market are 3M Company, Colgate-Palmolive Co., Cumberland Pharmaceuticals Inc., GlaxoSmithKline Plc, Sun Pharmaceutical Industries Ltd. among others.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, distribution channel and region.
Ans: With respect to product, the salivary stimulants segment is anticipated to hold the largest market share owing to easy availability and accessibility to patients, thus is expected to the growth of the segment.
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