The global hand eczema treatment market is projected to experience robust growth, with a market value of USD 53 million in 2023, anticipated to climb to USD 114.42 million by 2033, marking an impressive compound annual growth rate (CAGR) of 8% during the forecast period. This reflects a significant leap from the historical CAGR of 4% observed between 2018 and 2022.
Hand eczema, a condition affecting the skin on the hands, continues to rise in prevalence worldwide. Studies reveal that 31.6 million people (10.1%) in the United States alone suffer from some form of eczema, with a particular concentration among children. Contributing factors include increased exposure to irritants, genetic predispositions, and preexisting skin conditions.
The surge in demand for hand eczema treatment products is further driven by heightened awareness surrounding personal hygiene and skincare. Innovative approaches are also reshaping the market landscape, with startups like Derm-Biome Pharmaceuticals leading the charge. Based in Canada, Derm-Biome is pioneering natural product pharmaceuticals derived from betulinic acid sourced from birch bark. Their developments show promise for treating not only hand eczema but also conditions like atopic dermatitis, psoriasis, and acne.
Regional Highlights:
- North America: With a projected market share of approximately 40% during the forecast period, North America is positioned as a key player in the hand eczema treatment market. The growth is fueled by rising incidence rates, increased government initiatives, and expanding research collaborations.
- Asia Pacific: This region is emerging as a promising market due to a notable shift toward point-of-care healthcare services. The growing number of hospitals and healthcare facilities in countries like India and China creates ample opportunities for market expansion.
Future Outlook:
The hand eczema treatment market’s positive trajectory signals a fertile ground for both established players and emerging innovators. The confluence of advanced research, increased healthcare investments, and a growing consumer emphasis on skin health underscores the market’s potential for exponential growth in the years ahead.
Key Takeaways from the Market Study:
- From 2018 to 2022, the Hand Eczema (HE) Treatment Management market grew at a CAGR of 4%.
- The global Hand Eczema (HE) Treatment Management market is expected to grow with a 8% CAGR during 2023 to 2033.
- As of 2033, the Hand Eczema (HE) Treatment Management Market is expected to reach USD 114.42 Million
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess 40% market share for the Hand Eczema (HE) Treatment Management market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.
“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
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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