Atopic Dermatitis Treatment Market in Good Shape in 2019; COVID-19 to Affect Future Growth Trajectory
VALLEY COTTAGE – Atopic Dermatitis Treatment Market Set to Witness Healthy Growth, Buoyed by Introduction of Novel Therapeutic Agents: FMI
According to recently published report by Future Market Insights (FMI), the global atopic dermatitis treatment market size is expected to reach US$ 26 Bn by 2029. Atopic dermatitis is a widespread chronic inflammatory skin disease that affects patients of all ages, especially children, resulting from a complex interplay of immunological, environmental, pharmacologic, and genetic factors. Higher treatment compliances, promising pipeline molecules, increasing prevalence, growing access to treatment medication in developing countries, and advancing technologies are some of the major factors that are expected to boost the market growth.
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Researchers and scientists are constantly working towards the development of medication to cure atopic dermatitis permanently. In order to ensure permanent cure, Eli Lilly and Company and Incyte declared rheumatoid arthritis (RA) drug Olumiant (baricitinib) for treating the disease. The company evaluated RA drug olumiant and showed that these drugs are safe and efficient for treatment of adults with moderate to severe atopic dermatitis. Furthermore, a study conducted at Tel Aviv University study found the precise receptor chain involved in the development of atopic dermatitis. Researchers are focusing on developing an antibody to create a therapeutic drug, which will help in curing atopic dermatitis along with other allergic diseases such as asthma or eosinophilic esophagitis.
Corticosteroids Remain the Most Preferred Drug
For pain and inflammation relief, corticosteroids inhibitors remain the drug of choice in atopic dermatitis treatment space. This drug mediates anti-inflammatory effects in affected cells that can lead to a few side effects, particularly in pediatric patients, such as swelling, itching, redness, and allergy. Additionally, corticosteroids are used as the first line of treatment for different diseases such as severe allergies, asthma, and arthritis. Owing to this, corticosteroids will continue to witness higher demand until the first half of the forecast period, while adoption of emollients is expected to pick pace and overtake corticosteroids by 2023. Furthermore, demand for PDE-4 inhibitor is projected to grow at highly remarkable CAGR of 26% over the forecast period. Currently, PDE-4 inhibitor has been developed to target the inflammatory cascade of atopic dermatitis in both topical and oral formulation.
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Dermatology Clinics Emerge as Major Distribution Channel
Atopic dermatitis treatment in dermatology clinics will continue to account for a relatively high revenue share. The demand from dermatology clinics is poised to grow at noticeable CAGR of 18% during the forecast period 2019-2029. Further, distribution of medications for atopic dermatitis treatment via hospital pharmacies is expected to generate a revenue of US$ 6.2 Bn by 2029, owing to easy and faster access to medications as per scheduled prescription.
“Growth prospects of the atopic dermatitis market are high in North America, due to early adoption of novel prescriptions, increasing business associations of pharmaceutical organizations with contract research organizations in developing markets, better and favorable reimbursement policies, advanced healthcare infrastructure, and greater treatment awareness among the patient population across the United States and Canada,” says FMI analyst.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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