The lice treatment market is projected to register a CAGR of 6.6% over the forecast period. The major factor attributing to the growth of the market is the increasing prevalence of headlice infestation, especially in school children. Therefore, the increasing population of children is also a driving factor for the market.
- According to a survey by the United Nations in 2019, the number of children aged below 14 years is expected to cross 2.02 billion and reach 2.06 billion by 2050. This huge number of people who are prone to lice infestation increases market growth.
- A study conducted by Moussa Soleimani-Ahmadi for BMC Dermatology, in 2017, stated that the prevalence of the head lice infestation was 67.3 % in Iran. Along with the increasing prevalence of lice infestation, the easy availability of products is also boosting the market growth.
Key Market Trends
The OTC Drugs Segment is Expected to Grow at a Higher CAGR in the Forecast Period
Over-the-counter drugs have always given a tough time for prescription drugs, due to their easy availability and low cost.
Many people especially in the developing and underdeveloped countries do not consult a doctor or go to hospitals for lice infestation, as it is not considered a serious problem or they do not have enough healthcare expenditure, so they prefer OTC drugs given by the pharmacist.
Furthermore, the increasing prevalence and growing population of children who are more prone to lice infestation are the other factors propelling the segment growth. According to a study published in 2018 by Jalil NEJATI, in the Iran Journal of Public Health, 2,995 students of 28,410 participants, that is 10.5%, were infested with head lice. There was a significant difference in the prevalence of pediculosis among the boy and girl students. The prevalence of infestation was also significantly high in students living in nomad tribes, in comparison to rural and urban areas. Therefore, the above-mentioned reasons boost the segment's growth.
North America Dominates the Market and is Expected to do Same in the Forecast Period
North America is expected to dominate the overall lice treatment market, throughout the forecast period. The largest share is mainly due to the presence of a larger infestation pool and increasing children population. In the North American region, the United States holds the largest market share due to factors, such as increasing number of infestations, along with a growing number of research and development programs in the country. According to Childtrends.org, in 2017, there were 73.7 million children younger than 18 in the United States that were infested with lice, 22.6% of the total population. This number is projected to increase to 79.9 million in 2050. As per the statistics, the high prevalence and high disposable income propel the market growth in the region.
The lice treatment market is moderately competitive. A few of the crucial approaches followed by players functioning in the market were product advancement, invention, acquisitions, and mergers. Some of the companies which are currently dominating the market are Bayer, Alliance Pharmaceuticals Ltd, Omega Pharma, Arbor Pharmaceuticals Inc., Prestige Consumer Healthcare Inc., and GlaxoSmithKline.
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