Eczema refers to a group of inflammatory skin conditions characterized by dry, itchy skin that may become cracked, crusted and thickened with or without blistering. It usually occurs on the inside of elbows, behind the knees, wrists, around the neck and face. The main treatments for eczema include topical corticosteroids,calcineurin inhibitors, phototherapy, antibiotics and biologics.
The global eczema therapeutics market is estimated to be valued at US$ 21973.78 Bn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period from 2024 to 2030.
Key Takeaways
Key players operating in the eczema therapeutics market are Nedmag Industries Mining & Manufacturing B.V., Nabaltec AG., Huber Engineering Materials, Kyowa Chemical Industry Co. Ltd., Konoshima Chemicals Co. Ltd., Tateho Chemical Industries Co., Ltd., Baymag Inc., Sakai Chemical Industries Co. Ltd., Lehmann & Voss & CO. KG., Martin Marietta Materials Inc., Xinyang Mineral Group, Premier Periclase Ltd., Israel Chemicals Ltd., and Premier Magnesia LLC.
The growing demand for effective treatments due to the increasing prevalence of eczema around the world is expected to drive the market during the forecast period. According to the American Academy of Dermatology, over 31 million Americans suffer from eczema every year.
The top players are focused on expanding their geographical presence through collaborations and strengthening their distribution networks globally. For instance, in June 2021, Pfizer Inc. acquired Arena Pharmaceuticals, Inc. to gain access to Arena’s portfolio of immuno-inflammatory candidates including etrasimod being developed for treatment of atopic dermatitis.
Market key trends
One of the major trends gaining prominence in The Eczema Therapeutics Market is the rise of topical biologics. Due to their superior efficacy and safety profile over traditional topical treatments, biologics such as dupilumab (Regeneron/Sanofi) are being preferred for treating moderate-to-severe forms of eczema. Dupilumab was the first FDA approved biologic for treating eczema. Ongoing research is also exploring other biologics targeting specific pathways associated with eczema.
Porter’s Analysis
Threat of new entrants: The Eczema Therapeutics industry has significant barriers for new entrants due to its capital intensive nature and stringent regulations.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of alternatives to treat eczema.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the different materials and components required to manufacture eczema therapeutics drugs.
Threat of new substitutes: Several new drugs for eczema treatment are in the pipeline which can impact the existing market players.
Competitive rivalry: Intense competition exists between key players to gain more market share.
Geographical Regions
North America accounts for the largest share of the eczema therapeutics market owing to the growing prevalence of atopic dermatitis and availability of advanced treatment options.
The Asia Pacific region is expected to witness the fastest growth over the forecast period due to rising healthcare expenditure, increasing incidences of eczema, and improving access to diagnosis and treatment in countries like China and India.