Eczema Therapeutics Market is Anticipated to Witness High Growth Owing to Rising Incidence of Eczema Globally
Eczema Therapeutics Market |
The
global eczema therapeutics market is characterized by the presence of several
players offering a varied range of treatment drugs and therapies including
corticosteroids, calcineurin inhibitors, PDE-4 inhibitors, biologics, and
antihistamines. These therapies are used for the treatment of eczema conditions
such as atopic dermatitis and contact dermatitis. Eczema is a chronic, inflammatory
skin disease that mainly affects children but can persist into adulthood. The
global rise in eczema incidences due to changing lifestyles, environmental
factors, and genetic predispositions is the major driver of market growth.
The Global
Eczema Therapeutics Market Demand 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 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.
Key opportunities in the market include the strong pipeline of novel biologics
and new treatment alternatives beyond corticosteroids with better safety and
efficacy profiles. The introduction of newer systemic and biologic therapies
provide long-term control of moderate-to-severe eczema symptoms.
Globally, the eczema therapeutics market is anticipated to witness high growth
in Asia Pacific and Latin America due to rising awareness, expanding healthcare
infrastructure and gradual adoption of advanced treatment options in these
regions. Manufacturers are also focusing on emerging markets through
collaborations.
Market drivers and restrain:
The key driver for eczema therapeutics market is the rising global incidence of
eczema primarily due to environmental changes, genetic predisposition and westernized
lifestyle changes. According to statistics, over 20% of the global population
suffers from eczema with higher prevalence in developed nations. This
increasing patient pool drives the demand for effective therapeutic drugs. On
the other hand, side effects associated with long term use of corticosteroids
as well as high treatment costs of newer biologics are the major restraints for
market growth.
Market key restrain:
Development of novel treatment drugs requires huge capital funding and time for
clinical development and approvals. This poses a challenge for pharma companies
and delays market entry of new drugs thereby impacting overall market growth.
Stringent regulatory environment across regions also affects timely
introduction of new therapies.
Segment
Analysis
The eczema therapeutics market is segmented on the basis of drug class, route
of administration, distribution channels and end-uses. Among drug class,
emollients & moisturizers segment dominates the eczema therapeutics market
as they are first-line treatment and help provide relief from itching and dry
skin. Emollients & moisturizers help maintain skin hydration and reduce
inflammation.
Regional Analysis
The North American region dominates the global eczema therapeutics market and
is expected to continue its dominance during the forecast period. Factors such
as increasing healthcare expenditure, rising awareness about the disease,
presence of leading pharmaceutical brands and new product launches drive the
market in this region. Asia Pacific is expected to be the fastest growing
region due to rising population, increase in healthcare spending, growing
middle class population and rapid development of healthcare infrastructure.
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