FISH SKIN DISEASE MARKET ANALYSIS

The Global Fish Skin Disease Market, was valued at US$ 1.4 Billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% to reach US$ 2.7 Billion by end of 2030. The growth of the market is driven by factors such as the rise in cases of genetic skin disorders and growing research and development. In addition, the constant development of new treatment methods and the rise in healthcare expenditures will further provide potential opportunities for the growth of the fish skin disease market in the coming years.

Fish Skin Disease Market Regional Insights

• Asia Pacific: The Asia Pacific region is expected to witness significant growth in the fish skin disease market, driven by the rise in the incidence of genetic skin disorders. Asia Pacific holds around 20% of the market share.
• North America: The North America market for fish skin disease is expected to grow due to the rise in investment in research and development in the region. North America accounts for approximately 40% of the market share.
• Europe: The Europe market for fish skin disease treatments is also expected to grow, driven by the increasing prevalence of fish skin disease in the region. This region holds a substantial percentage of the market share, accounting for approximately 30%.

Figure 1. Global Fish Skin Disease Market Share (%), By Region, 2023

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Fish Skin Disease Market Drivers:

The fish skin disease market is driven by several factors, including:

• Increasing prevalence of genetic skin disorders: The global fish skin disease market is driven by factors such as the increasing prevalence of genetic skin disease. For instance, in June 2020, according to a study published by the National Center for Biotechnology Information (NCBI), out of the 2214 participants in the study, 441 (20%) had skin diseases.
• Growing awareness and healthcare expenditure: The growing awareness about rare genetic skin diseases like Ichthyosis, along with increasing healthcare expenditure, is contributing significantly to the growth of the fish skin disease market. There is a rise in the diagnosis rates of ichthyosis as people are more educated now about such conditions due to the widespread availability of information on the internet and support groups creating awareness in society. This is allowing more patients to get timely treatment and take necessary precautions to manage the condition better. On July 19, 2023, according to Wolters Kluwer, an information services company, Ichthyosis vulgaris and X-linked ichthyosis were the most common types of ichthyosis, with an globally estimated incidence of 1 in 250 births and 1 in 6000 male births, respectively. However, many remained undiagnosed for a long time due to a lack of information and resources in the past. With increased knowledge, more general practitioners and dermatologists are now able to accurately identify Ichthyosis, even in moderate instances, which has increased the prevalence rates that have been recorded. This growing patient base is directly translating into rising demand for various treatment options and medication products available in the fish skin disease market.

Fish Skin Disease Market Opportunities:

• Increasing clinical trials for pipeline drugs: The fish skin disease market currently has several drugs in the pipeline that are undergoing various stages of clinical trials. These trials represent a significant opportunity for market growth in the coming years. Many of these pipeline drugs are aimed at rarer, more severe forms of ichthyosis that currently have very limited or no treatment options. If these medications prove to be effective, they may increase underprivileged patient populations' access to medicines. For instance, in June 2022, Timber Pharmaceuticals LLC, a biopharmaceutical company, initiated a Phase III, multicenter, double blinded vehicle controlled study of TMB-001 with a parallel optional maximal use arm- in treatment of RXLI or ARCI Ichthyosis in subjects aged more than 6 years. Additionally, pipeline drugs are exploring new mechanisms of action that could provide alternative treatment pathways compared to existing topical therapies. A few candidates are monoclonal antibodies targeting specific cytokines or pathways involved in skin barrier formation and desquamation. Successful clinical validation of these novel targets and mechanisms could drive brand new product approvals, label expansions, and better treatment responses for more patients.

Fish Skin Disease Market Trends:

• Rising funding for research on rare diseases: Rising funding for research on rare diseases is fueling discoveries and advancements in treatments for ichthyosis, which is positively impacting the growth of the fish skin disease market. Ichthyosis is a group of rare genetic skin disorders characterized by dry, thickened, and flaky skin. The symptoms can range from mild to severe, greatly impacting quality of life. However, more foundations and governments have stepped up in recent years to increase funding for clinical research studies to better understand the diseases and develop targeted therapies. For instance, on September 19, 2023, the National Organization for Rare Disorders (NORD) announced three new grant funding opportunities related to rare diseases.

Fish Skin Disease Market Restraints:

• Regulatory hurdles: The approval process for new treatments and therapies can be lengthy and complex, and regulatory hurdles can pose a significant challenge for companies developing new treatments for fish skin diseases. This can limit the ability of companies to bring new products to market and slow the pace of innovation.
• Lack of approved drugs for several subtypes: The lack of approved drugs for several subtypes is significantly restraining the growth of the fish skin disease market. Ichthyosis comprises several subtypes like lamellar ichthyosis, congenital ichthyosiform erythroderma, X-linked ichthyosis, and epidermolytic ichthyosis. Currently, there are no approved drugs to treat a majority of these subtypes effectively. Most drugs available in the market only provide symptomatic relief and are not curative. For instance, emollients are commonly used to soften the thickened skin but do not treat the underlying cause. Oral retinoids like acitretin are the only systemic treatment approved for some mild subtypes. However, they have serious side effects like teratogenicity and liver toxicity when used for a long time. Due to the lack of targeted and safe treatment options, many patients do not get proper long-term control of their symptoms. This leads to poor compliance and discontinuation of medication. The development of new drugs requires extensive research and clinical trials that require significant investments. However, ichthyosis is considered an orphan disease with a relatively small patient population worldwide. This limits the interest of major pharmaceutical companies in prioritizing research and development of novel treatment options for various ichthyosis subtypes.

Figure 2. Global Fish Skin Disease Market Share (%), By Type, 2023

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Fish Skin Disease Market Recent Developments

New product launches

• In September 2021, Sonnet BioTherapeutics, a clinical stage biotechnology company entered into a license option agreement with Strides Pharma Science Limited, a pharmaceutical company to develop SON-1010, an interleukin-12 (IL-12) targeted immunotherapy, for the treatment of ichthyosis. This agreement allows Sonnet to evaluate SON-1010 as a potential new therapy for improved treatment of ichthyosis.
• In April 2022, Timber Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases, announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to TMB-001, a topical isotretinoin formulated using the company’s patented IPEG™ delivery system, for the treatment of X-linked recessive ichthyosis (XRI) and autosomal recessive congenital ichthyosis lamellar ichthyosis (ARCI-LI).
• In January 2022, AbbVie Inc, a specialty biopharmaceutical company, announced the U.S. Food and Drug Administration (FDA) has approved RINVOQ (upadacitinib) for the treatment of moderate to severe atopic dermatitis in adults and children 12 years of age and older whose disease did not respond to previous treatment and is not well controlled with other pills or injections, including biologic medicines, or when use of other pills or injections is not recommended.
• In May 2020, Krystal Biotech, the leader in redosable gene therapy, announced interim results for a first-in-human Phase 1/2 placebo controlled clinical trial evaluating topical administration of KB105 in patients with autosomal recessive congenital ichthyosis (ARCI) being presented at the Society for Investigative Dermatology (SID) annual meeting.

Acquisition and partnerships:

• On August 22 2023, LEO Pharma, a pharmaceutical company, announced that it had signed an agreement to acquire Timber Pharmaceuticals.

Fish Skin Disease Market Top 12 Key Player

• GSK Plc.
• AbbVie Inc.
• Sonnet BioTherapeutics
• Krystal Biotech
• LEO Pharma
• GALDERMA
• GLENMARK PHARMACEUTICALS LTD.
• Mayne Pharma Group Limited
• Ortho Dermatologics
• Cellegy Pharmaceuticals
• Patagonia Pharmaceuticals, LLC
• Crown Laboratories, Inc.

Definition: Fish skin disease, also known as Ichthyosis, is a group of about 20 skin conditions that cause skin dryness and scaling. The symptoms can range from mild to severe. Ichthyosis can affect only the skin, but some forms of the disease can affect internal organs as well.