Lice Treatment Market, By Product Type (OTC Medication (Permethrin, Pyrethrin, and Other Product Types) and Prescription Medication (Ivermectin, Spinosad, Malathion, and Other Prescription Medications)), By Distribution Channel (Hospitals and Clinics, Retail Pharmacies, and Other Distribution Channels), and By Geography (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa) is estimated to be valued at US$ 1,049.8 Mn in 2023 and is expected to exhibit a CAGR of 6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The advent of increasing product approvals by regulatory agencies of respective countries can drive the growth of the global lice treatment market over the forecast period. For instance, In July 2020, the U.S. Food and drug Administration (FDA) approved XeglyzeTM (abametapir 0.74% lotion), manufactured by Dr. Reddy’s Laboratories Ltd- a multinational pharmaceutical company based in India, as a topical treatment for head lice infestation in patients at least six months old.
Global Lice Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global lice treatment market. This was owing to the increasing ivermectin dispensing from outpatient retail pharmacies. An article published by Lice Clinics of America in July 2020, reported that Lice Clinics of America, Bakersfield, experienced an increase in lice treatments of 37% from April to May 2020, amid the COVID-19 pandemic.
Global Lice Treatment Market: Key Developments
Strategies like mergers and acquisitions can increase the reach of the products and customer base of acquiring company, and the product can reach more regions. This is expected to boost market growth during the forecast period.
For instance, in July 2020, Oystershell- a company specializing in development and marketing of product innovations in dermatology, lice and insect treatments, and mineral supplements, acquired RID- a manufacturer of lice treatment products, a leading lice treatment brand in the U.S., to expand its sevice offerings and product portfolios.
Browse 25 Market Data Tables and 24 Figures spread through 170 Pages and in-depth TOC on Lice Treatment Market, By Product Type (OTC Medication (Permethrin, Pyrethrin, and Other Product Types) and Prescription Medication (Ivermectin, Spinosad, Malathion, and Other Prescription Medications)), By Distribution Channel (Hospitals and Clinics, Retail Pharmacies, and Other Distribution Channels), and By Geography (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/head-lice-drug-market-4152
Key Takeaways of the Global Lice Treatment Market:
- The global lice treatment market is expected to exhibit a CAGR of 6% during the forecast period. The seminars and workshops being arranged for the physicians and scientists regarding lice treatments to discuss newer technologies and treatments. For instance, in October 2022, organisers of the biennial International Sea Lice Conference, announced that Scotland would host the next meeting in 2023 to discuss newer scientific developments and drug discoveries.
- Among product type, OTC medication segment is expected to grow in the global lice treatment market over the forecast period. This is because of the ease of availability in buying and dispensing of OTC Medications. Safe and effective head lice treatments are available with or without a prescription. Greater parts of the population worldwide avoid home remedies and natural products for lice due to lack of scientific data to support the medication.
- Among region, North America is expected to be the dominant region in the global lice treatment market, owing to the increasing research activities in this region. In November 2022, U.S. FDA announced its approval of AirAlle- a medical device that uses heated air to dehydrate eggs and lice, then they comb out the hair to remove debris. The device was invented by scientists at University of Utah- a U.S.-based a public research university.
- Major players operating in the global lice treatment market include Fleming Medical Ltd, ParaPRO, LLC, Prestige Consumer Healthcare Inc., Omega Pharma (A subsidiary of Perrigo Company plc), Alliance Pharma PLC, Oystershell, Johnson & Johnson Private Limited, GSK plc, and Arbor Pharmaceuticals Inc. (A subsidiary of Azurity Pharmaceuticals, Inc.)
