Atopic Dermatitis Drugs Market Share And Industry Trends, Forecasts Till and Million Insights
Atopic Dermatitis Drugs Market Outlook 2031
The global atopic dermatitis drugs market was valued at US$ 6.0 Bn in 2021
The global market is projected to advance at a CAGR of 14.7% from 2022 to 2031
The global atopic dermatitis drugs market is anticipated to reach more than US$ 29.4 Bn by the end of 2031
Atopic Dermatitis Drugs Market Introduction
Atopic dermatitis, also known as eczema, is a condition that affects the skin and causes itchiness, dryness, and inflammation. The condition can be chronic and tends to flare and spread sometimes. Atopic dermatitis drugs, including atopic eczema steroids, are used to treat eczema and reduce itchiness and other conditions caused by atopic dermatitis. The global atopic dermatitis drugs market size is projected to grow at a rapid pace during the forecast period owing to the rise in investment in research & development activities and novel pipeline drugs.
Increase in Incidence of Atopic Dermatitis Driving Global Market
Dermatological disorders differ across the globe based on geographic location, climatic conditions, socioeconomic status, lifestyle, age, gender, heredity, and personal habits. According to the World Health Organization (WHO), more than 900 million people were affected with skin diseases in 2017, and the five common conditions, including atopic dermatitis, accounted for around 80% of the skin disorders. High prevalence and substantial rise in incidence rate of atopic dermatitis across the globe is the key factor driving the atopic dermatitis drugs market. Atopic dermatitis affects 15% to 20% children and 1% to 3% adults across the world per year. New approvals and commercialization of novel therapeutic drugs under clinical trial studies are projected to propel the global atopic dermatitis market size during the forecast period.
Rise in Demand for Biologics Propelling Global Market
Usage of biologic drugs in dermatology has changed the treatment procedure of dermatological disorders, especially atopic dermatitis. Leading biopharmaceutical companies are investing significantly in biologic product development, merger & acquisitions, and strategic collaborations. Atopic dermatitis has shown positive response to biologics, which has improved the overall quality of life. Hence, overall demand for biologic drugs for atopic dermatitis has increased. This trend is likely to continue in the next few years. Just one biologic product has been approved for the treatment of atopic dermatitis to date. Many more are in phase II clinical trials and are likely to receive approvals in the near future.
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Inhibition of Causative Inflammatory Response to Fuel Biologics Segment
In terms of drug type, the biologics segment dominated the global atopic dermatitis drugs market, with around 76% share in 2021. The trend is projected to continue during the forecast period. The segment is anticipated to be driven by the rise in prevalence of atopic dermatitis, as biologics inhibit the inflammatory response that is responsible for the development of the disease. According to the Dermatology Therapeutics Area Working Group, global prevalence rate of atopic dermatitis stands at 8% to 15% in children.
Retail Pharmacies Segment Lead Global Market
In terms of distribution channel, the global atopic dermatitis drugs market has been segmented into hospital pharmacies, retail pharmacies and online pharmacies. The retail pharmacies segment held major share of around 65% in 2021. Growth of the segment can be ascribed to the increase in purchasing power of patients and surge in the number of retail pharmacies.
Regional Outlook of Global Atopic Dermatitis Drugs Market
North America accounted for the largest share of around 46% of the global atopic dermatitis drugs market in 2021. This can be ascribed to large patient pool in the region that requires efficient and new therapies.
Europe held around 30% share of the global market in 2021. The market in the region is expected to grow at a faster pace from 2022 to 2031 due to the increase in focus on the development of health care infrastructure by governments and rise in demand for affordable, effective therapeutics among the significant patient population.
Asia Pacific accounted for larger market share than Latin America and Middle East & Africa in 2021. However, the market in Latin America is expected to grow at a faster pace than that in Middle East & Africa.
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Analysis of Key Players in Global Atopic Dermatitis Drugs Market
The atopic dermatitis drugs market report concludes with the company profiles section, which includes key information about major players in the global atopic dermatitis drugs market. Expansion of product portfolio and mergers & acquisitions are the key strategies adopted by the leading players in the global atopic dermatitis drugs market. Prominent players in the atopic dermatitis drugs market are Mylan N.V., Pfizer, Inc., LEO Pharma A/S, Sanofi, Novartis AG, Bausch Health, and Teva Pharmaceutical Industries Ltd.
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Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
