Coherent Market Insights

Atopic Dermatitis Market to Surpass US$ 14,941.2 Mn by 2028

Atopic Dermatitis Market to Surpass US$ 14,941.2 Mn by 2028 - Coherent Market Insights

Publish In: Jan 16, 2023

Atopic dermatitis (AD), also known as eczema, is a type of inflammatory skin disease that disrupts the skin barrier and its ability to hold moisture. It can be irritating but it's not contagious. There is no cure for AD, and many people have troubling controlling it. Many children find their symptoms naturally improve as they get older. There are treatments available, but no treatment can eliminate your symptoms 100% of the time. For instance, topical corticosteroids have been the mainstay of treatment for atopic dermatitis over the years. Doctors may prescribe oral corticosteroids, such as prednisone, for the atopic dermatitis management.

Market Statistics:

The global Atopic Dermatitis Market is estimated to account for US$ 8,549.8 Mn in terms of value by the end of 2022.

Drivers:

Increase in prevalence of atopic dermatitis across the world is expected to propel the growth of the global atopic dermatitis market over the forecast period. For instance, the increasing prevalence of AD has reached epidemic proportions and appears to be rising further in urban populations. Atopic dermatitis (AD) ranks 15th among all nonfatal diseases and has the highest disease burden among skin diseases as measured by disability-adjusted life-years (DALYs). According to World Health Organization (WHO), more than 230 million people have atopic eczema worldwide. In the U.K., it affects around 1.3 million, and those numbers have been rising for years. This in turn is expected to aid in the growth of the global atopic dermatitis market.

Opportunities:

Increase in demand for safe and effective atopic dermatitis treatment is expected to offer lucrative growth opportunities for players in the global atopic dermatitis market. For instance, with the rise in prevalence of atopic dermatitis, the demand for safe and effective atopic dermatitis treatment is also increasing with a rapid pace. In June 2022, Sanofi received the United States Food and Drug Administration (USFDA) approval for Dupixent (dupilumab) for children aged 6 months to 5 years with moderate-to-severe atopic dermatitis whose disease is not adequately controlled with topical prescription therapies or when those therapies are not advisable.

Restraints:

High cost of treatment and side effects of therapeutic drugs are major factors expected to hamper the growth of the global atopic dermatitis market. For instance, atopic dermatitis is often associated with increased physician visits, emergency department visits, and hospitalizations. Cost of care of AD is high and comparable to those of chronic physical illness, such as diabetes mellitus, and this cost is higher in severely ill-patients. Moreover, atopic dermatitis causes considerable consumption of financial resources as the treatment is often self-funded.

Global Atopic Dermatitis Market- Impact of Coronavirus (Covid-19) Pandemic:

The outbreak of COVID-19 (pandemic) has had a severe impact on the atopic dermatitis market. This is attributed to the increase in frequency of hand-washing by the population adhering to safety and sanitation measures, which help prevent the spread of the COVID-19 virus. Constant exposure to soap and water has increased dry skin, leading to an increase in cases of hand atopic dermatitis. Moreover, several initiatives are being introduced to manage COVID-19 patients suffering from atopic dermatitis. The pandemic has increased or is expected to increase demand for the safe and effective AD treatment, thereby driving the market growth.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/atopic-dermatitis-market-712

Key Takeaways:

The global atopic dermatitis market was valued at US$ 7,795.3 Mn in 2021 and is forecast to reach a value of US$ 14,941.2 Mn by 2028 at a CAGR of 9.7% between 2022 and 2028.

Among drug class segment Corticosteroids held dominant position in the global atopic dermatitis market in 2021, accounting for 31.7% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

One of the key trends expected to augment the growth of the global atopic dermatitis market is the increase in use of atopic dermatitis drugs for the management of atopic dermatitis. Corticosteroids are used as pain relief medicines for inflammation in the body and are known to reduce itching, redness, swelling, and allergic reactions. Clinical trials have also shown that topical corticosteroids are safe and effective to treat/manage atopic dermatitis flare-ups. Topical corticosteroids have been the mainstay of treatment for atopic dermatitis over the years.

Competitive Landscape:

Major players operating in the global atopic dermatitis market include Pfizer Inc., Novartis AG, Nestle, LEO Pharma, Encore Dermatology Inc., GlaxoSmithKline PLC, Allergan PLC, AbbVie Inc., Regeneron Pharmaceuticals Inc., and Bausch Health Companies Inc., among others.

Recent Developments:

In October 2022, LEO Pharma A/S announced the launch of AD Days Around the World, a global disease awareness campaign that highlights the experiences of people living with atopic dermatitis (AD); the most common form of eczema.

In January 2022, Pfizer Inc. announced that the U.S. FDA approved CIBINQO (abrocitinib), an oral, once-daily, Janus kinase 1 (JAK1) inhibitor, for the treatment of adults living with refractory, moderate-to-severe atopic dermatitis (AD) whose disease is not adequately controlled with other systemic drug products, including biologics, or when use of those therapies is inadvisable.

In December 2021, the U.S. FDA approved the treatment that addresses IL-13 cytokine in adults diagnosed with moderate to severe atopic dermatitis.

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