Technavio analysts forecast the global xerostomia therapeutics market to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.
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Technavio forecasts the global xerostomia therapeutics market to grow at a CAGR of over 3% by 2023. (Graphic: Business Wire)
The growing focus on biologics is one of the major trends being witnessed in the global xerostomia therapeutics market 2019-2023. Biologics are pharmaceutical drug products that are manufactured from various biological sources. They are different from chemically manufactured pharmaceuticals. Biologics include vaccines, blood, blood components, monoclonal antibodies, allergenics, somatic cells, gene therapies, tissues, recombinant therapeutic proteins, and living cells used in cell therapy.
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According to Technavio analysts, one of the key factors contributing to the growth of the global xerostomia therapeutics market is the increasing awareness of xerostomia:
Global xerostomia therapeutics market: Increasing awareness of xerostomia
Xerostomia can be a symptom of various medical conditions or a side effect of radiation therapy to the head and neck areas. Hence, patients also need to be aware and proactive while speaking to their doctors about the signs and symptoms of xerostomia. Quick diagnosis of xerostomia is crucial due to the risk factors and symptoms of the condition. Additionally, the early detection of the condition can aid in treating xerostomia more effectively. Therefore, various government and non-government organizations are creating awareness about xerostomia with the aim of preventing delays in the diagnosis and overcoming the lack of awareness of treatment.
According to a senior analyst at Technavio for research on pharmaceuticals, “In countries such as the US, the Oral Cancer Foundation is creating awareness about the common causes for and the complications associated with xerostomia, as well as the signs and symptoms, diagnosis and evaluation of the condition and the available treatment options. Thus, the increase in the number of organizations and institutes involved in creating awareness of xerostomia among people is expected to drive the growth of the global xerostomia therapeutics market during the forecast period.”
Global xerostomia therapeutics market: Segmentation analysis
The global xerostomia therapeutics market research report provides market segmentation by product (OTC and prescription) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The OTC segment held the largest market share in 2018, accounting for nearly 69% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of over 39%. This region is expected to dominate the market through 2023, however, there will be a decrease in its market share.
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