by Eczema Therapeutics are topical agents specifically formulated to provide relief from itching, redness, rash, swelling and other symptoms associated with eczema and related dermatological conditions. Eczema is a long term skin condition that causes the skin to become itchy, dry and cracked. Some common forms of eczema include atopic dermatitis and contact dermatitis. Eczema Therapeutics include corticosteroids, calcineurin inhibitors, antihistamines, PDE4 inhibitors and other drugs that work by reducing inflammation and preventing allergic reactions. They provide relief from flare ups and prevent future flare ups.
The global Eczema Therapeutics Market is estimated to be valued at US$ 19074.46 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Eczema Therapeutics Market is the rising focus on combination therapies and biologics. Combination therapies involving corticosteroids with antihistamines or immunomodulators are gaining traction as they help manage eczema more effectively. Biologics that target specific components of the immune system like dupilumab are also showing promise for treating severe and chronic forms of eczema. Dupilumab was amongst the first biologics approved for treating moderate-to-severe atopic dermatitis. Ongoing research is exploring other biological targets and novel formulations like nanoparticle therapies to improve treatment outcomes for eczema patients.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the high capital requirement and stringent regulations for new drugs. However, generic drugs and biosimilars pose a threat.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of generic alternatives and treatment options. However, specialty drugs reduce bargaining power.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of alternative suppliers and outsourcing options. However, licensed technologies increase supplier power.
Threat of new substitutes: The threat of new substitutes is high due to the availability of alternative treatment options and generic drugs. However, the lack of complete substitute reduces the threat.
Competitive rivalry: The competitive rivalry is high due to the many established brands and products. However, patent protection and high R&D costs reduce competition.
Key Takeaways
The Global Eczema Therapeutics Market Size is expected to witness high growth. The global Eczema Therapeutics Market is estimated to be valued at US$ 19074.46 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030.
North America dominates the global eczema therapeutics market owing to the rising prevalence of atopic dermatitis and strong presence of major market players in this region. Europe is anticipated to be the second-largest and fastest-growing regional market owing to increasing government funding for research initiatives and product development.
Key players operating in the eczema therapeutics market are 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. Sanofi S.A. dominates the global eczema therapeutics market due to its strong portfolio of anti-inflammatory and biologics drugs to treat various types of eczema. Other major players are focusing on expanding their dermatology product portfolio through acquisitions and collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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