Lichen planus is a chronic inflammatory condition that affects the skin and mucous membranes. It causes a purple, itchy rash and small, tough bumps on the skin. The exact cause of lichen planus is unknown but it may involve an immune system malfunction or reaction to certain medicines.
The signs and symptoms of Lichen Planus Market can range from minor to debilitating depending on whether the skin or oral cavity is affected. Topical corticosteroids are the main line of treatment for mild to moderate skin lichen planus to reduce itching and rash. Systemic corticosteroids, immunosuppressants or retinoids may be used for extensive or resistant disease.
The Global Lichen Planus Market is estimated to be valued at USD 150.1 million in 2024 and is expected to reach USD 251.2 million by 2031, growing at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Key Takeaways
Key players operating in the lichen planus market are AbbVie, Amgen, and Bristol-Myer.
The rising awareness about skin diseases and availability of various treatment options present lucrative growth opportunities in the market.
Geographically, North America dominates the global lichen planus market owing to rising healthcare expenditure. However, Asia Pacific region is expected to witness fastest growth over the forecast period with increasing medical tourism in the region.
Market Drivers
Increasing incidence of skin conditions and autoimmune diseases globally is a major factor driving the growth of the lichen planus market. According to recent studies, around 0.22–4% of the global population is affected by lichen planus. The rising cases of stress and mental health issues that may act as triggers for lichen planusalso contribute to the market growth.
PEST Analysis
Political: Lichen planus market will be impacted by any new regulations imposed on healthcare industry by governments of major countries. Healthcare reforms could increase demand.
Economic: Fluctuations in economic conditions that affect consumer spending on health affect lichen planus treatment products demand. Emerging markets growth supports the market.
Social: Awareness campaigns help reduce the social stigma around skin diseases, benefiting the lichen planus market. Growing concern for skin care promotes market growth.
Technological: Development of advanced diagnostic techniques has improved lichen planus detection rates. New drug delivery methods aid therapeutic effectiveness.
The lichen planus market in terms of value is most concentrated in North America and Western Europe. Higher per capita healthcare spending and awareness in these regions support demand. The United States accounts for the largest share due to strong reimbursement structure and large patient population requiring treatment. However, Asia Pacific is anticipated to witness fastest growth during the forecast period attributable to large population base coupled with increasing prevalence of lichen planus in the region. Rising medical tourism in Asia Pacific countries also boosts the regional market.
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