Eczema, also known as atopic dermatitis, is a chronic inflammatory skin disease with symptoms like itching, dryness, redness, swelling, cracking and sometimes weeping and crusting of the skin. Main causes include genetics, dry skin, irritants, allergies and bacterial or viral infections. Eczema treatments aim to reduce itching and inflammation, prevent infections and moisturize the skin. Topical corticosteroids, calcineurin inhibitors, moisturizers and antihistamines are commonly prescribed medications.
The global eczema therapeutics market is estimated to be valued at US$ 19074.46 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of eczema has been a major driver of growth in the eczema therapeutics market. According to the National Eczema Association, about 31.6 million Americans suffer from eczema. The prevalence has increased in the last few decades, partly due to environmental factors. With a larger patient base, the demand for prescription medications and treatments has grown significantly. Companies have responded with development of innovative drugs with improved efficacy and better safety profiles. For instance, new biologic treatments targeting specific components of the immune system like interleukin inhibitors have shown promising results in clinical trials. Their market entry over the forecast period is expected to further boost the eczema therapeutics market.
Segment Analysis
The global eczema therapeutics market is dominated by the topical segment, which accounts for over 50% market share. Topical therapies are preferred first line treatments for eczema due to their localized action, minimal systemic absorption and good efficacy. They help manage the inflammation and itching associated with eczema. The oral segment is expected to witness high growth during the forecast period. This is attributed to the development and approval of novel oral medicines which offer improved treatment outcomes compared to topical drugs alone.
Key Takeaways
The Global Eczema Therapeutics Market Size is expected to witness high growth. The global eczema therapeutics market is estimated to be valued at US$ 19074.46 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
North America currently dominates the market and is expected to remain the highest revenue generating region during the forecast period. This is attributed to the presence of well-established healthcare infrastructure, high adoption of advanced therapeutics and large patient population suffering from eczema in the region. Additionally, Asia Pacific is anticipated to emerge as the fastest growing regional market for eczema therapeutics. Growing healthcare expenditure, rapid economic development and expansion of healthcare facilities in emerging economies such as China and India will boost market growth in Asia Pacific.
Key players operating in the eczema therapeutics market are Sanofi S.A., Encore Dermatology Inc, AbbieVie Inc., F. Hoffmann-La Roche AG, Novartis AG, Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Anacor Pharmaceuticals Inc., Meda AB, GlaxoSmithKline plc, AstraZeneca plc, and Pfizer Inc. Major players are focused on developing novel products and expanding further through strategic collaborations to strengthen their position in the market. Increased strategic partnerships between drug manufacturers and biotech companies in the recent past reflect high potential opportunities in this domain.
For More Insights, Read: https://www.newsstatix.com/eczema-therapeutics-market-size-share-and-growth-forecast-2023-2030/
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