Eczema Therapeutics Market is Anticipated to Witness High Growth Owing to Increasing Prevalence of Atopic Eczema

 

Eczema Therapeutics Market Share

The eczema therapeutics market is focused on developing novel treatment options for atopic dermatitis or eczema patients. Eczema is a chronic inflammatory skin disease that affects millions of people globally. It is characterized by red, itchy skin rashes that may cause skin dryness, cracking, swelling, oozing, and crusting. The surging cases of eczema across the world represent a significant market opportunity for therapeutic products to effectively manage the symptoms and potential complications of the disease.

The global eczema therapeutics market is estimated to be valued at US$ 21,973.78 Bn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the eczema therapeutics market are Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG., Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemicals Co. Ltd., Tateho Chemical Industries Co., Ltd., Baymag Inc., Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Martin Marietta Materials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC. These companies are focusing on developing novel therapeutics to provide effective management of eczema symptoms and associated comorbidities.

The key opportunities in the Eczema Therapeutics Market Share include developing biologics and targeted oral therapies especially for moderate-to-severe eczema patients. Currently, only topical corticosteroids and antihistamines are approved to control flares and prevent new bout. Novel therapies can help reducing the burden of chronic disease management.

The global expansion of key market players through strategic collaborations and acquisitions is another growth driver. Companies are expanding globally especially in emerging Asian and Latin American countries where the eczema prevalence is increasing rapidly driven by changing lifestyle and environment factors. The availability of advanced therapeutics in these regions poses significant growth prospects.

Market Drivers

Rising global prevalence of atopic dermatitis is a major market driver. The cases of eczema have doubled in the last few decades. It affects over 10% of children and 1-3% of adults worldwide. The rising environmental pollution, changing lifestyle, food habits are some factors contributing to the higher disease incidence.

Increasing awareness about available treatment options is another key driver. Earlier eczema was considered a minor skin condition and less emphasis was given to management. Now, patients and physicians both recognize the chronic nature and importance of early and effective treatment to avoid complications. This awareness has boosted the adoption of prescription therapeutics.

Market Restraints

High cost of biologics targeting eczema is a key market challenge. Biologics used for moderate-severe eczema like dupilumab are very expensive costing over US$ 30,000 per patient annually in the US. This poses affordability issues.

Lack of approved drugs for specific triggers is another restraint. Eczema flares can be triggered by various allergens like food, dust mites, pollen etc. but there are limited therapies approved for trigger identification and management. This poses an unmet medical need.

Segment Analysis

The eczema therapeutics market can be segmented based on drugs, treatment, route of administration, distribution channel, and geography. Corticosteroids are the dominating sub segment under drugs segment. Corticosteroids are very effective in controlling the inflammation associated with eczema and reducing itching, scaling and redness of the skin. They are preferred options and fast acting, which has made them the dominating sub segment.

Calcineurin inhibitors are also gaining popularity due to their ability to provide relief from eczema symptoms without causing skin thinning. Topical calcineurin inhibitors are safe and preferred over oral corticosteroids for long-term control of eczema.

Global Analysis

Regionally, North America holds the largest share in the eczema therapeutics market due to the growing atopic dermatitis patient population and rising healthcare expenditure. Furthermore, increasing adoption of newer biologics and pipeline drugs in the region drives market growth. Asia Pacific is projected to witness the fastest growth during the forecast period owing to the presence of untapped opportunities and growing healthcare infrastructure in emerging countries such as India and China. Rising cases of eczema, improving access to diagnosis and treatment, and large malnutrition population base supplements market expansion within Asia Pacific. Europe follows North America in terms of market size attributed to supportive government initiatives and funds directed towards research.

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