Eczema therapeutics are medicines recommended for treating eczema which is a chronic, non-contagious inflammatory skin condition characterized by itchy, red and swollen skin, with oozing wet lesions. Some of the common eczema therapeutics include topical corticosteroids, topical calcineurin inhibitors, antihistamines, phototherapy etc which help in reducing itching, inflammation and flare-ups.
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 prevalence of eczema is on a rise globally particularly affecting infants, children and young adults. According to estimates, around 20% of children and 2-3% of adults worldwide suffer from eczema. The rising cases can be attributed to changing lifestyle, escalating pollution levels, increasing food & skin allergies and climate change. This has propelled the demand for effective eczema therapeutics across the globe. Various studies also indicate that the prevalence of eczema in developed nations is higher as compared to developing countries with significant urban-rural divide as well, indicating lifestyle and environmental determinants play a key role in triggering eczema disorders. However, with rapid urbanization and environmental degradation levels rising globally, the prevalence of eczema is expected to amplify considerably over the coming years, driving significant growth of the eczema therapeutics market.
SWOT Analysis
Strength: Eczema therapeutics have a large target patient pool as eczema is a highly prevalent chronic disease globally. Drugs targeting the underlying cause of the disease and promising pipeline drugs offer new treatment options.
Weakness: Eczema has no permanent cure and the high recurrence rate necessitates long-term treatment burden. Co-morbidities associated with eczema pose challenges in drug development.
Opportunity: Growing eczema incidence worldwide due to environmental and lifestyle changes present a significant market potential. Increasing healthcare expenditure in emerging nations opens new avenues.
Threats: Patent expiries of blockbuster drugs intensify competition. Stringent regulations for drug approval delay market entry of novel therapies.
Key Takeaways
The Global Eczema Therapeutics Market Size is expected to witness high growth over the forecast period. 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 owing to the high disease prevalence and availability of advanced treatment options in the region. However, Asia Pacific is likely to emerge as the fastest growing market due to improving access to healthcare services and increasing awareness about eczema management.
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. These companies are focused on developing novel treatment modalities targeting specific disease pathways to address the unmet needs in eczema management. Ongoing clinical trials evaluating pipeline drugs offer hope of better treatment outcomes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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