The global bruise treatment market is poised for stable growth in the coming years, with revenues surpassing US$300 million in 2021, according to a comprehensive study that delves into the markets performance and associated aspects.
Growing Prevalence of Blood Disorders to Augment Bruise Treatment Market Growth
The increasing prevalence of blood disorders such as haemophilia, anaemia, leucocytosis, and Von Willebrand Disease has led to a rise in bruises worldwide. This surge in bruise incidents has, in turn, fueled the use of drugs like anti-inflammatory and anticoagulant medications in bruise treatment, driving the growth of the bruise treatment market. Bruises often result from bleeding of small blood vessels beneath the skin, and disorders like haemophilia can prevent proper blood clotting, leading to significant bruises even from minor injuries. According to the Centres for Disease Control and Prevention (CDC), approximately 1 in every 5000 males develops haemophilia. Although a rare disorder, it affects individuals across all ethnic groups and races. Haemophilia A is prevalent in 1 in 5,000-10,000 males, while haemophilia B, though less common, affects 1 in 25,000-30,000 individuals. Of these cases, about 60% experience critical conditions due to haemophilia A.
Similarly, Von Willebrand Disease also contributes to the development of fatal bruises, particularly among the aging population. This growing burden of bruises resulting from blood disorders is expected to drive the bruise treatment market forward. Additionally, the demand for drugs used in bruise treatment is influenced by physical activities and sports. Intense workouts can lead to bruises around sore muscles, and strains can cause deep bruises beneath the skin. This, coupled with increasing sports participation, is expected to further boost the growth of the bruise treatment market.
Anti-inflammatory Drugs to Gain High Ground in Bruise Treatment Market
The bruise treatment market is expected to be significantly influenced by the increasing sales of anti-inflammatory drugs in the coming years. Bruises often cause critical inflammation, resulting in redness, severe pain, swelling, and loss of function. Nonsteroidal anti-inflammatory drugs (NSAIDs) offer effective relief from pain, swelling, and other conditions associated with bruises. They are also useful in treating painful periods, headaches, and sprains, which has led to their increased use in bruise treatments. Furthermore, when used promptly after an injury, anti-inflammatory drugs are most effective. The availability of over-the-counter (OTC) NSAIDs, including ibuprofen, aspirin, warfarin, heparin, and clopidogrel, has contributed to the growth of the bruise treatment market.
North America Remains a Highly Favourable Ground for Bruise Treatment Market
The demand for bruise treatment in developed countries in North America is expected to grow significantly in the coming years. The steady growth of North Americas bruise treatment market can be attributed to the increasing geriatric population and rising incidences of disorders such as Von Willebrand Disease. For instance, according to the National Centre for Biotechnology Information (NCBI), Von Willebrand Disease is a bleeding disorder that affects approximately 1% of the population in the United States. Moreover, Von Willebrand Disease type 3 affects around 1.38 individuals per million in the North American region.
Additionally, the Administration for Community Living, a division of the US Department of Health and Human Services, reported that individuals aged 65 and above accounted for 19% of the total population in the United States in 2019, and this percentage is expected to surpass 21% by the end of 2040. The geriatric population is highly susceptible to bruises, which plays a crucial role in driving the growth of the bruise treatment market in North America. Furthermore, significant growth in pharmaceutical and biotechnology research and development activities, coupled with increasing awareness of bruises and favorable healthcare infrastructure, continues to bolster the growth of the bruise treatment market in the region.
Bruise Treatment Market: Competitive Landscape
The bruise treatment market has witnessed an increase in product launches and approvals from regulatory authorities. For instance, in 2022, the US Food and Drug Administration (FDA) approved Takeda Pharmaceutical Company Ltds VONVENDI, a new recombinant drug used to treat Von Willebrand Disease and reduce the frequency of bleeding in patients. In the same year, BioMarins drug for haemophilia faced questions from the FDA, causing a delay in approval. However, it received conditional approval from the European Union. BioMarins Roctavian was granted conditional approval by the European Medicines Agency for the treatment of haemophilia.
Key players in the global bruise treatment market include Bioderma, Pharmavite LLC, Arnicare Boiron, Zealous Health Private Limited, Stada Arzneimittel AG, TriDerma, and Topix Pharmaceuticals Inc.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/bruise-treatment-market
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