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Dermatitis Global Market Report 2024 Market Size, Forecast, Growth, Trends 2024-2033
Dermatitis Global Market Report
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According to The Business Research Company's, The dermatitis market size has grown strongly in recent years. It will grow from $6.43 billion in 2023 to $6.79 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to increased prevalence, diagnostic advancements, treatment options, regulatory approvals.
The dermatitis market size is expected to see strong growth in the next few years. It will grow to $8.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to growing patient awareness, environmental factors. Major trends in the forecast period include research and development, telemedicine and digital health, biologics and targeted therapies, personalized medicine.
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Market Drivers and Trends:
Growth in the dermatitis market is primarily driven by the increasing global prevalence of the disease. The prevalence of dermatitis in children is estimated to be around 15-20% while it is 1-3% in adults. The rising cases of food allergies are adding to the prevalence of dermatitis which ultimately leads to the increase in demand for medicines to cure this disease. For instance, in October 2022, according to the Global Atopic Dermatitis Atlas (GADA), a report published by the International Eczema Council (IEC), a US-based international dermatology association, approximately 223 million individuals were reported to be affected by atopic dermatitis in 2022. Out of this total, around 43 million were in the age group of 1 to 4 years.
The dermatitis market has witnessed a trend of increasing mergers and acquisitions (M&As), done with the purpose of business expansion and increasing visibility. M&As are playing a significant role in today's world and are assumed to expand this market in the years to come. The vendors in this industry are focusing on collaboration and partnerships to expand their portfolios and improve their market presence. Companies are also strategically making M&As to reduce competition and increase the scalability of their businesses. For instance, in March 2022, Pfizer Inc., a US-based pharmaceutical manufacturing company, acquired Arena Pharmaceuticals, Inc. for an undisclosed amount. With this acquisition, Pfizer aims to strengthen its portfolio of therapeutic candidates in various stages of development within the fields of gastroenterology, dermatology, and cardiology. Arena Pharmaceuticals, Inc. is a US-based clinical-stage company developing treatments for dermatology diseases such as atopic dermatitis (AD).
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
LEO Pharma AS, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Sanofi S.A., Bayer AG, Encore Dermatology Inc., Meda Pharmaceuticals Inc., Allergan Plc, Bristol-Myers Squibb Co., Anacor Pharmaceutical Inc., Astellas Pharma Inc., Mylan N.V., Valeant Pharmaceutical Inc., Galderma SA, Dow Inc., Connetics Corporation, Fujisawa Pharmaceutical Company Ltd., AbbVie Inc., F. Hoffmann-La Roche Ltd., Valeant Pharmaceuticals International Inc,, GlaxoSmithKline plc, Medimmune Inc., Bausch Health Co. Inc., Nestlé Skin Health India Pvt. Ltd., Aqua Pharmaceuticals Pvt. Ltd., C.H. Boehringer Sohn AG & Co. KG, Biofrontera AG, Zydus Lifesciences Limited
Dermatitis Market 2024 Key Insights:
• The dermatitis market size is expected to see strong growth in the next few years. It will grow to $8.37 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Dermatitis Market Growth Fueled By Increasing Disease Prevalence And Food Allergies
• Expanding Dermatitis Market Through Strategic Mergers And Acquisitions
• North America was the largest region in the dermatitis market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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