ECZEMA THERAPEUTICS MARKET ANALYSIS

Eczema, also called as dermatitis or atopic dermatitis is characterized by rashes, skin redness, and itchy skin. The area of the skin that gets affected with eczema may vary from person to person and also depends on factors such as genetics, abnormal function of the immune system, environmental factors, defects in skin barrier, and some activities may cause the skin to be extremely sensitive. The eczema treatment mostly include steroid creams and moisturizers. In some serious cases, antibiotics are also prescribed if skin infection is detected. Moreover, lots of research and development is currently being carried out by the market players, research institutes, and government bodies for eczema treatment, which act as the driving factors for the market growth.

Global Eczema Therapeutics Market - Impact of the Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic is expected to drive the growth of the global eczema therapeutics market over the forecast period. For instance, according to the Asthma and Allergy Foundation of America: 2020 report, the occurrence of dry skin, eczema, cracked skin, itchiness, and other skin conditions has increased due to the increase in the frequency of washing hands and using hand sanitizer during COVID-19 pandemic. Thus, increasing incidences of skin irritation, eczema, and other skin related conditions due to over use of hand sanitizer etc. are expected to increase the growth of the global eczema therapeutics market over the forecast period. Moreover, according to the research conducted by the researchers at the Father Muller Medical College, India, out of 582 people (291 healthcare professionals (HCPs) and 291 healthy individuals from the general population), 92.6% of HCPs and 68.7% of the general population showed hand dermatitis after following stringent hand hygiene during the COVID-19 pandemic.

Increasing awareness about eczema by the market players is expected to increase the growth of the market over the forecast period. For instance, Pfizer, Inc., had initiated a new program “Eczema Inside Out” in collaboration with patient advocacy organizations from multiple countries. The program helps the patients to interact with the healthcare providers regarding the treatment of eczema as well as to discuss about their emotional and mental health, which is affected due to the skin diseases.

The global eczema therapeutics market is estimated to be valued at US$ 15,453.4 Mn in 2021 and is expected to exhibit a CAGR of 11.1% over the forecast period (2021-2028).  

Figure 1: Global Eczema Therapeutics Market Share, (%), Analysis, By Treatment, 2021

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Increasing research and development activities by the market players for developing the treatment for eczema is expected to drive the growth of the global eczema therapeutics market over the forecast period.

Market players are involved in research and development activities for developing the treatment for eczema. This is expected to increase the growth of the market over the forecast period. For instance, in 2020, Pfizer Inc. announced positive Phase III results for its investigational drug, Abrocitinib, an oral once-daily Janus kinase 1 (JAK1) inhibitor, for the treatment of atopic dermatitis or eczema in adults.

Market players are indulged in receiving approvals for the drugs indicated for the treatment of eczema or atopic dermatitis. This is expected to increase the growth of the global eczema therapeutics market over the forecast period.

Increasing approvals from the regulatory authorities are expected to increase the growth of the market over the forecast period. For instance, on June 25, 2021, AbbVie Inc., received approval from the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP), for its drug RINVOQ (upadacitinib), an oral, selective, and reversible JAK inhibitor, for the expanded use in adults and adolescents suffering from moderate to severe atopic dermatitis.

Global Eczema Therapeutics Market – Restraints

Increasing delays in the drug approvals from the regulatory authorities for the treatment of eczema is expected to increase the growth of the global eczema therapeutics market over the forecast period. For instance, on June 16, 2021, the U.S. Food and Drug Administration (U.S. FDA) delayed further decisions for AbbVie Inc.’s Rinvoq and Eli Lily and Company’s Olumiant, which have been indicated for the treatment of moderate to severe atopic dermatitis. The drugs belong to the JAK class of medicines, and the medicines from this drug class has been associated with severe side effects such as blood clots, cancers etc.

The termination of the clinical trials, which was directed for the development of the drug for eczema, is expected to hamper the growth of the market over the forecast period. For instance, in 2019, Galapagos NV and MorphoSys AG ended their agreement with Novartis AG for the development of the drug MOR106, which was directed for the development for the atopic dermatitis. Novartis AG reported negative results during the Phase II trial for MOR106. The above factors are expected to restrain the growth of the global eczema therapeutics market over the forecast period.

Global Eczema Therapeutics Market – Regional Analysis

On the basis of region, the global eczema therapeutics market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America eczema treatment is expected to hold a dominant position during forecast period, owing to the availability of reimbursement for the treatment of eczema. For instance, in the U.S., Medicare covers the treatment for eczema. Under the policy, doctor visits, specialist appointments, and even other special treatments have coverage. Under the Medicare coverage, an eczema patient can pay nothing up to US$ 100 per month for the treatment for eczema, depending upon the seriousness of the disease.

Furthermore, Europe is also estimated to witness significant growth in the eczema therapeutics market, owing to the increasing research and development activities by the market players and research institute. For instance, on May 21, 2021, the researchers from Trinity College, Dublin, UK had conducted clinical trials for the treatment of atopic dermatitis. During their research, it was found that Upadacitinib drug was the most effective treatment for chronic, relapsing atopic dermatitis or eczema. The results for the clinical trials have been published in the Lancet Journal

Figure 2: Global Eczema Therapeutics Market (US$ Mn), by Region, 2021

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Global Eczema Therapeutics Market – Competitive Landscape

Major players operating in the global eczema therapeutics market include 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.