ATOPIC DERMATITIS MARKET ANALYSIS

Market Challenges And Opportunities

Global Atopic Dermatitis Market Drivers:

Growing prevalence of atopic dermatitis to augment the market growth

One of the key factors expected to augment the growth of the global atopic dermatitis market over the forecast period is the rise in prevalence of atopic dermatitis across the globe. Atopic dermatitis, also known as eczema, is a chronic disease that causes inflammation, redness, and irritation of the skin. It is a common condition that usually begins in childhood; however, people of all ages live with a condition. According to the World Health Organization (WHO) Global Burden of Diseases initiative, more than 230 million people across the world have atopic eczema, and this number is expected to increase during the forecast period.

Increasing awareness among people to underpin market growth

Another factor which is driving the growth of the global atopic dermatitis market is the increasing awareness among people about atopic dermatitis. Atopic eczema is one of the most prevalent skin diseases in the world. Thus, governments worldwide and players in the market are launching novel initiative/campaign to raise atopic dermatitis awareness. For instance, Atopic Eczema Community comes together on September 14th (every year) to raise awareness for the disease, speak up about the burden it has on patients and caregivers, and to recognize the need for care and treatment that is reflective of the multi-dimensional nature of the disease.

Global Atopic Dermatitis Market Opportunities:

Increase in focus on the development of novel therapeutics is expected to offer significant growth opportunities for players in the global atopic dermatitis market. For instance, players in the market are focusing on launching novel therapeutics owing to rise in burden of atopic dermatitis. On the World Atopic Dermatitis Day, Sanofi and Regeneron announced the launch of new, global grants initiative seeking proposals for grassroot solutions to help solve some of the greatest challenges impacting people living with atopic dermatitis (AD).

Outbreak of COVID-19 across the world is expected to offer significant growth opportunities for players in the global atopic dermatitis market. For instance, the global pandemic has had a positive impact on the growth of the market due to increase in frequency of hand-washing by the population following safety and sanitation/hygiene measures, which helps in containing the spread of SARS-CoV-2 (COVID-19). Constant exposure to soap and water has increased dry skin, leading to an increase in cases of hand atopic dermatitis, driving the market growth.

Global Atopic Dermatitis Market Restraints:

Side effects of therapeutic drugs are hindering the market growth

One of the major factors hindering the market growth is the serious adverse effects associated with certain therapeutic drugs. Individuals with atopic dermatitis are at risk of developing food allergies, asthma, hay fever, itchy/scaly skin, skin infections, mental health conditions, sleep problems, and patches of skin that's darker or lighter than the surrounding area. However, developing a basic skin care routine (use a gentle/non-soap cleanser, daily bath or shower, and skin moisturize) may help prevent eczema flares as the triggers for AD vary widely from person to person.

High cost of treatment to hamper the growth of the market

Treatment cost variations (which limits patient access) is another major factor which is hampering the market growth. Atopic dermatitis is often associated with increased physician visits, emergency department visits, and hospitalizations. The cost of care is even higher with rising chronic physical illness and severely ill-patients. Moreover, in some emerging markets, AD causes a considerable consumption of financial resources as the treatment is often self-funded.