Future Market Insights (FMI) has published a new research report on vulvodynia treatment market.
Titled, ‘Vulvodynia Treatment Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028’. the report states that a recent Harvard study showed that there are approximately six million American women that are suffering from vulvodynia.
More than 60% of patients report of visiting three or more healthcare providers for diagnosis and 40% of patients remain undiagnosed. In addition, this study also reported that 40% of women with painful symptoms did not seek medical care.
Associations such as the National Vulvodynia Association (NVA) are playing a vital role in spreading awareness regarding Vulvodynia treatment. The NVA announced the launch of Indivisible: Breaking the Silence, a campaign empowering women with vulvodynia to break their silence and improve the path to diagnosis and treatment.
To cater to the need of the growing number of patients, companies are looking out for treatments and drugs that can subside the pain related to vulvodynia. Towards this, they are investing in research and development (R&D) and mergers and acquisitions (M&A).
In January 2016, Merck & Co acquired IOmet Pharma, a privately held UK-based drug discovery company focused on the development of innovative medicines for the treatment of cancer. Other leading companies operating in the market include Eli Lilly and Company, AstraZeneca, GlaxoSmithKline, Pfizer, Johnson & Johnson Services, and Allergan.
According to the report, the global vulvodynia treatment market is expected to register a compound annual growth rate (CAGR) of 6.1% over the forecast period of 2018 and 2028. The market was worth $4.2bn in 2017 and is expected to rise to a valuation of $8bn by the end of 2028.
Global market revenue growth
The growing number of patients suffering from vulvodynia and chronic vulvar pain has led to the adoption of early diagnosis and treatment.
The adequate results of medical treatments such as drugs, injections and creams have increased the preference for medication to treat vulvodynia. Furthermore, increasing adoption of medicinal treatments of vulvodynia has resulted in an increase in the sales of hormones, local anaesthetics, and antidepressants.
In addition, promising compensation policies in most of the developed countries are also expected to act as a value driver to the growth of the global vulvodynia treatment market. On the other hand, the growing prevalence of the vulvodynia disease among women across the globe is a core factor that is pushing the growth of the vulvodynia treatment market. Vulvodynia is a very common disease worldwide. Nevertheless, the ailment remains underdiagnosed or in some cases also incompetently treated.
Lethargic R&D for vulvodynia treatment drugs to slow down market growth
Due to the lack of detailed information by patients, ignorance of the cause of vulvar pain, and satisfactory results of anticonvulsants and tricyclic antidepressants, researchers are unable to unveil the exact cause of vulvodynia and the R&D on vulvodynia drugs is limited.
After anticonvulsants and tricyclic antidepressants, only serotonin and norepinephrine reuptake inhibitors (SNRI) drugs have shown positive results. If observed, the R&D for vulvodynia treatment is also progressing very slowly.
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