Hand Eczema Treatment Market is expected to grow with a 8% CAGR through 2033

The global Hand Eczema (HE) Treatment Market is predicted to generate a market value of US$ 53 Million in 2023 and a market value of US$ 114.42 Million by 2033, with a CAGR of 8% from 2023 to 2033. In the historical period 2018 to 2022, the market for Hand Eczema (HE) Treatment grew at a CAGR of 4%.

According to Studies, 31.6 million people (10.1%) in the US have some form of eczema, and prevalence peaks during early childhood. The incidence of hand eczema is increasing globally, due to factors such as increased exposure to irritants, genetics, and underlying skin conditions. Furthermore, the growing focus on personal hygiene and skin care is increasing the demand for hand eczema treatment products and services.

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As a result of positive growth, various startups are entering the market. One such startup is Derm-Biome Pharmaceuticals, a Canadian startup focused on developing natural product pharmaceuticals for skin health improvement. The pharmaceuticals are derived from betulinic acid sourced from birch barks. The company’s lead derivative has shown potential in treating conditions such as atopic dermatitis, psoriasis, acne, and neoplastic skin disease.

North America is anticipated to acquire a market share of about 40% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region. Furthermore, government initiatives and increase in the number of research partnerships are boosting the market growth across North America.  Asia Pacific is a growing market due to a shift towards point-of-care healthcare. The increasing number of hospitals in India and China presents a promising market opportunity globally.

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 US$ 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

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About the Healthcare Division at Future Market Insights

The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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