The global Hand Eczema Treatment Market Size is expected to be worth US$ 53 million in 2023 and US$ 114.42 million by 2033, with a CAGR of 8% from 2023 to 2033. From 2018 to 2022, the market for Hand Eczema (HE) Treatment increased at a CAGR of 4%.
According to studies, 31.6 million people (10.1%) in the United States have eczema, with frequency peaking during youth. Globally, the prevalence of hand eczema is rising due to factors such as increased irritating exposure, genetics, and underlying skin diseases. Furthermore, the increased emphasis on personal hygiene and skin care is driving up demand for hand eczema treatment goods and services.
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Various startups are joining the market as a result of positive growth. Derm-Biome Pharmaceuticals, a Canadian firm focusing on developing natural product pharmaceuticals for skin health enhancement, is one such example. The medications are made from betulinic acid, which is extracted from birch bark. The primary derivative of the company has showed promise in treating illnesses such as atopic dermatitis, psoriasis, acne, and neoplastic skin disease.
North America is expected to gain a market share of around 40% throughout the projection period. This increase is due to the increasing incidence of the illness in the region. Furthermore, government efforts and an increase in the number of research collaborations are encouraging market expansion in North America. Because of a shift towards point-of-care healthcare, Asia Pacific is a booming market. The growing number of hospitals in India and China creates a global business opportunity.
Key Takeaways from the Market Study
- The Hand Eczema (HE) Treatment Management market increased at a 4% CAGR from 2018 to 2022.
- From 2023 to 2033, the global Hand Eczema (HE) Treatment Management market is predicted to rise at an 8% CAGR.
- The Hand Eczema (HE) Treatment Management Market is anticipated to reach US$ 114.42 Million by 2033.
- Hospitals have the biggest market share, according to the FMI research.
- North America is anticipated to account for 40% of the Hand Eczema (HE) Treatment Management market.
- The Asia Pacific market is expected to grow significantly throughout the forecast period, accounting for 20% of the total.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Hand Eczema (HE) Treatment Management.” says an FMI analyst
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Market Competition
Key players in the market include pharmaceutical companies such as GlaxoSmithKline, Pfizer, Sanofi, Johnson & Johnson and Novartis along with the healthcare providers and technology companies among other global players.
- In June 2022, FDA approved Dupixent (dupilumab) for children aged 6 months to 5 years with moderate-to-severe atopic dermatitis who are unable to control their condition with topical prescription therapies or when such treatments are not advisable. The approval was granted under Priority Review, which is reserved for treatments that show potential improvement in efficacy or safety in treating serious conditions. The approval is based on data from a Phase 3 trial comparing Dupixent (200 mg or 300 mg every four weeks based on body weight) with low-potency topical corticosteroids (TCS) or TCS alone (placebo).
- In January 2022, Pfizer announced that the FDA has approved CIBINQO (abrocitinib), a once-daily oral Janus kinase 1 (JAK1) inhibitor, for the treatment of moderate-to-severe atopic dermatitis in adults who are not adequately controlling their condition with other systemic treatments, including biologics, or when those treatments are not advisable.
Key Segments Profiled in the Hand Eczema (HE) Treatment Industry Survey
Type:
- Topical Corticosteroids
- Topical Calcineurin Inhibitors
- UV Therapy
End-User:
- Retail Pharmacy
- Hospital Pharmacy
- Online Pharmacy
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