Atopic Dermatitis Treatment Market (impact of COVID-19) Growth, Segmentation, Outlook, Overview with Detailed Analysis 2021-2029 | Sanofi S.A., Galderma S.A., Allergan Plc., Novartis | FMI
The atopic dermatitis treatment market is expected to expand at CAGR of 12% in terms of value through the forecast period (2019-2029). Hospitals and health centres contribute for the maximum share in the market. North America will dominate the market in terms of revenue due to better healthcare infrastructure and reimbursement policies provided by the government. Improving use in skin treatment and corticosteroids is causing market expansion.
“Better medical facilities and healthcare industry in North America with higher standards of living, increasing adoption of skin care treatments and favourable reimbursement policies by the government is expanding the growth of atopic dermatitis treatment, which will help the market witness proper growth, boosting the profit globally,” states the FMI Analyst.
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Atopic Dermatitis Market- Important Highlights
- North America and Western Europe will exhibit lucrative opportunity in the atopic dermatitis market.
- According to distribution channel, medical sector and healthcare segment is expected to expand in terms of value over the forecast period.
- Global Atopic Dermatitis Market is expected to surpass US$ 7.7 billion.
- On the basis of administration, topical antibiotic pharmaceuticals will continue to dominate the market.
Atopic Dermatitis Market – Critical Factors
- Use is largely noticed in health care industries for treatment of skin diseases and inflammatory
- Owing to the increasing number of FDA approvals and partnerships between key players, demand has witnessed steady growth.
- Improving economic conditions, better healthcare infrastructures, prevalence of highly preferred drugs for treating inflammatory diseases and positive reimbursement policies is boosting the market.
Atopic Dermatitis Market – Key Restraints
- Lack of trained healthcare professionals and less awareness regarding drugs might hinder market growth.
- Long-term use of drugs and corticosteroids can cause skin atrophy too.
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Expected Impact on Market by Coronavirus Outbreak
The pandemic has affected every small and big industry in terms of profit or production. This particular sector has not experienced much of a loss because health and skin care segment will only witness steady growth because people are now more aware towards health. Though people are shifting towards a better and safe lifestyle yet huge number of positive cases has only caused entire economy to droop down. Patients are now relying on better medical aids than before. Use of corticosteroids might be complicated but there are various factors which will drive the market in a better way.
North America and Western Europe is expected to witness a considerable amount of growth, presenting ample opportunities like it did in the past. The key players are only focussing on inorganic growth strategies like mergers and acquisitions.
Key Players are operating on the basis of market shares, strategies and product offerings. This market is largely based on demand-supply approach.
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