Global Hemangioma Treatment Market - 2023-2030

Market Overview

Global Hemangioma Treatment Market reached US$ 284.6 million in 2022 and is expected to reach US$ 381.0 million by 2030 growing with a CAGR of 3.8% during the forecast period 2023-2030.

Infantile hemangioma is the most commonly occurring benign vascular tumor among infants affecting about 4% to 5% of newborns. The global hemangioma treatment market has witnessed significant growth in recent years due to the adoption of beta-blocker treatments. For instance, propranolol and atenolol are beta blockers that are commonly used as a treatment for infantile hemangiomas.

Furthermore, significant growth drivers such as increasing clinical trials, growing investments, and increasing research and developments give rise to future market growth. Due to the massive rise in technological advancements in countries like the U.S. and Canada, the market is experiencing a rise in demand from North American regions. Significant key players like Akorn Pharmaceuticals, Pfizer Inc., Alma Lasers Ltd., Allergan, and others are actively operating in the market.

Dynamics

Market Drivers

Rising Technological Advancements for Hemangioma Treatment

Hemangiomas are non-cancerous tumors where capillary blood vessels increase in number through the process of angiogenesis, and the major technological advancements from major companies help to drive market growth. These effective advancements help to transform research discoveries into new treatments and improve care for billions of people with hemangiomas.

For instance, in September 2020, Pierre Fabre Pharmaceuticals reported a new online tool for the early diagnosis and referral of infantile hemangioma that can help avoid complications stemming from delayed treatment. This study highlights the reliability and ease of use of the Infantile Hemangioma Referral Score (IHReS) for the early diagnosis, referral, and treatment of infantile hemangioma (IH). Thus, the above factors help to boost the market growth in the forecast period.

The Increasing Clinical Trials for Hemangioma Treatment

The rising clinical trials of hemangioma globally act as the driver to the growing demand for the hemangioma treatment market. For instance, according to ClinicalTrial.gov, on May 12, 2023, Indiana University conducted an interventional study on Natural Berry Extract Treatment of Hemangiomas. This is a prospective, randomized, double-blind, placebo-controlled parallel-group study.

The aim of this clinical trial is to evaluate the use of PediaBerry for the treatment of hemangiomas in infants less than 4 months of corrected gestation age over a 6-month treatment period. The treatment involves PediaBerry which will be mixed with a cream vehicle for topical administration or with water for oral administration.

Market Restraints

Complications Associated with Infantile Hemangiomas

Infantile hemangioma complications are classified as life-threatening, obstructive, and ulcerative. Life-threatening complications include airway and hepatic infantile hemangiomas. Functional complications obstructing vital structures or impairing function involve periocular, nasal, labial, parotid, auricular, and breast infantile hemangiomas. Thus, owing to the above factors the market is expected to hamper over the forecast period.

Segment Analysis

The global hemangioma treatment market is segmented based on type, diagnosis, treatment, end users, and region.

Laser Therapy from the Treatment Segment Accounted for Approximately 38.5% of the Global Hemangioma Treatment Market Share

The rising clinical trials of hemangiomas globally have contributed to the growing demand for hemangioma treatment. Laser therapy involves the use of specific wavelengths of light to stimulate healing by allowing surgeons to work at high levels of precision by focusing on a small area by damaging less of the surrounding tissue. The main aim of performing laser therapy is to reduce inflammation and muscle pains.

For instance, according to clinicalTrials.gov, on August 12, 2022, Massachusetts General Hospital conducted a clinical trial on pulsed-dye laser versus timolol topical solution versus observation on the growth of hemangioma in newborn. The purpose of this study is to find out if pulsed dye laser treatment or timolol maleate 0.5% gel can help infants who have a hemangioma. Thus, the above factors help to elevate the market growth.

Geographical Penetration

North America Accounted for Approximately 38.9% of the Market Share in 2022

North America has maintained a significant proportion of the hemangioma market in recent years, and this trend is anticipated to continue throughout the forecast period due to the factors such as an increase in healthcare expenditures, increasing research and developments, and technological advancementsin hemangioma treatment.

For instance, according to the National Health Expenditure Account (NHEA), the total annual healthcare expenditure in the United States is increased by 2.7% to $4.3 trillion. Physician spending grew by an average of 3.5% per year while hospital services (4.4%) and clinical services (6.7%) had higher growth rates. Thus, the above factors help to elevate the region's growth.

Competitive Landscape

The major global players in the market include: Cutera Inc., Merck & Co., AbbVie Inc, Akorn Pharmaceuticals, Pfizer Inc., Alma Lasers Ltd., Allergan, Linline Medical Systems, Pierre Fabre, and IRIDEX Corporation among others.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the hemangioma treatment market. During the height of the pandemic, many healthcare systems were overwhelmed, and non-urgent medical procedures and screenings were postponed or canceled. This led to delays in hemangioma treatment research. Clinical trials are vital for developing new treatments and improving outcomes in the hemangioma treatment market.

However, the pandemic disrupted the conduct of clinical trials, with many sites temporarily halting enrollment or modifying protocols to prioritize patient safety. This has led to delays in the completion of trials and the availability of new therapies. Moreover, the focus of research and development efforts shifted during the pandemic, with a significant emphasis on developing vaccines and treatments for COVID-19. Therefore, owing to the above factors, the hemangioma treatment market is expected to be moderately affected over the forecast period.

By Type

• Capillary Hemangioma
• Cavernous Hemangioma
• Compound Hemangioma
• Lobular Capillary Hemangioma

By Diagnosis

• Ultrasound
• MRI
• CT Scan
• Others

By Treatment

• Medical Therapy
• Laser Therapy
• Surgery
• Beta Blocker Medicines
• Others

By End Users

• Hospitals
• Clinics
• Diagnostic Centers
• Others

By Region

• North America

U.S.

Canada

Mexico

• Europe

Germany

U.K.

France

Italy

Spain

Rest of Europe

• South America

Brazil

Argentina

Rest of South America

• Asia-Pacific

China

India

Japan

Australia

Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• In June 2023, Candela Corporation announced that the Vbeam Family of Pulsed Dye Lasers (PDL) has expanded its FDA-cleared indications for use of the 595 nm wavelength to include the pediatric population for the treatment of cutaneous capillary malformations, also known as port wine stains (PWS), and infantile hemangiomas (IH) or congenital hemangiomas.
• In December 2021, research conducted led by the Centenary Institute and the Harvard Medical School, Boston, shows that a compound present in current beta blocker treatments could be repurposed to increase the efficiency and safety of infantile hemangioma therapies.
• In July 2023, the American Society for Laser Medicine and Surgery (ASLMS) worked with the Vascular Birthmarks Foundation (VBF) and an international, multidisciplinary team to create a consensus of uniform guidelines for treating vascular birthmarks with laser therapy.

Why Purchase the Report?

• To visualize the global hemangioma treatment market segmentation based on the type, diagnosis, treatment, end users, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of global hemangioma treatment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global hemangioma treatment market report would provide approximately 69 tables, 70 figures, and 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies