Vulvodynia is common disease in United States as well as throughout the world. Future Market Insights has recently published a report on global vulvodynia treatment market over the forecast period (2018-2028). A reporter from FMI has been asked a series of questions on the growth of global vulvodynia treatment market.
What is your take on expansion of global vulvodynia treatment market?
Well, according to report, the global vulvodynia treatment market is anticipated to register 6.1% CAGR during the forecast period (2018-2028). The global market is estimated to reach valuation of over US$ 8 Bn by the end of 2028, raised from a valuation of US$ 4.2 Bn in the year 2017.
What factors according to you are fueling growth of the global market?
A recent Harvard study revealed that approximately 6 Mn American women are suffering from vulvodynia. The report further stated that 40% of them are not able to seek for medical treatment, who are undergoing painful symptoms. Further, National Vulvodynia Association (NVA) is spreading awareness among people related to vulvodynia treatment. NVA made an announcement of launch of an operation enabling women with vulvodynia to break its silence and enhance the path to diagnosis and treatment.
What are the strategies of leading companies to cater to increasing demands from patients?
In a bid to cater to increasing number of patients, market players are concentrating on treatment and drugs, which can subside the pain related to vulvodynia. To fulfill the demand, companies are investing more in R&D activities as well as merger and acquisitions. Such as Merck & Co, Inc. acquired a privately build U.K.-based drug discovery company, IOmet Pharma Ltd., concentrating on development of advanced drugs for cancer treatment.
What is propelling demand for vulvodynia treatment?
A large number of patients suffering from harsh nature of chronic vulvar pain and vulvodynia have led to adoption of early diagnosis as well as treatment. The adequate results of medical treatments like injections, creams and drugs have raised the demand for medication to treat vulvodynia. Additionally, rising adoption of medical treatments of vulvodynia has led to rise in the sales of local anesthetics, antidepressants as well as hormones. Furthermore, definite compensation policies in large number of economies are further anticipated to fuel growth of the global market.
What are the restraints influencing research and development activities?
Due to lack of detailed information by patients, ignoring symptoms of vulvar pain as well as satisfactory results of anticonvulsants and tricycle antidepressants, researchers are failing to find out exact causes of such type disease and thereby research and development activities are lagging behind. Additionally, only serotonin and norepinephrine reuptake inhibitors (SNRIs) drugs have exhibited positive results after tricyclic antidepressants and anticonvulsants. Research and development activities for vulvodynia are showcasing sluggish growth.
What are the prominent players operating in the global market?
Eli Lilly and Company, Allergan plc., AstraZeneca Plc., Pfizer Inc., GlaxoSmithKline Plc., and Johnson & Johnson Services, Inc., are discerned as prominent players contributing more to the growth of global vulvodynia treatment market.
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