The global Hand Eczema (HE) Treatment Market is expected to garner a market value of USD 53 Million in 2023 and is expected to accumulate a market value of USD 114.42 Million by registering a CAGR of 8% in the forecast period 2023 to 2033. The market for Hand Eczema (HE) Treatment registered a CAGR of 4% in the historical period 2018 to 2022.
The Hand Eczema (HE) Treatment market is a segment of the healthcare industry that deals with the effective management of Hand Eczema (HE). The Hand Eczema (HE) Treatment market offers a range of products and services for its effective management and treatment such as phototherapy and other procedures. Treatment for hand eczema, a skin condition characterized by red, itchy, and dry skin on the hands, is expected to grow due to increasing awareness about skin care and an increasing incidence of hand eczema.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 53 Million |
| Anticipated Forecast Value (2033) | USD 114.42 Million |
| Projected Growth Rate (2023 to 2033) | 8% CAGR |
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According to market research and competitive intelligence provider, Future Market Insights- the market for Hand Eczema (HE) Treatment reflected a value of 4% during the historical period, 2018 to 2022.
According to Studies, 31.6 million people (10.1%) in the U.S. 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.
In its new study, Future Market Insights (FMI) offers insights about key factors driving demand for Hand Eczema (HE) Treatment. In the years to come, increasing focus by government organizations and private agencies like WHO and pharmaceutical companies to create awareness of Hand Eczema (HE) Treatments is fuelling the market growth. Thus, the market for Hand Eczema (HE) Treatment is expected to register a CAGR of 8% in the forecast period 2023 to 2033.
Growing demand for natural and organic products for the treatment of hand eczema to push the market growth
The global market for Hand Eczema (HE) Treatment is primarily driven by the increasing prevalence of the disease, the development of new and effective treatment options, advancements in treatment technologies, development of new diagnostic technologies and the availability of more effective treatments. In addition, increased awareness of Hand Eczema (HE), has led to a higher healthcare expenditure, especially on natural and organic products, globally contributing to the growth of the market.
Owing to the growing awareness of the potential side effects of chemical-based products, consumers are increasingly looking for treatments that are made from natural ingredients and are free from harmful chemicals. This increased desire for a more holistic approach to skin care has led to the development of a range of natural and organic hand eczema treatments, including topical creams, ointments, and lotions made from ingredients such as aloe vera, chamomile, and calendula.
Furthermore, the prevalence of Hand Eczema (HE) is high in low and middle-income countries, offering a significant market opportunity for companies to expand their product offerings. The prevalence of Hand Eczema (HE) has increased in recent years due to factors such as increased international travel, urbanization, and the aging of the population, which is expected to drive demand for Hand Eczema (HE) Treatments.
In September 2021, the FDA approved Opzelura, a cream containing the drug ruxolitinib, for the treatment of mild to moderate atopic dermatitis in patients aged 12 and above who either cannot use other topical treatments or have not seen enough improvement from them. Opzelura is the first JAK inhibitor, both oral and topical, to be approved for eczema. As it functions differently from other treatments for atopic dermatitis, it may provide relief to individuals who have not found success with other therapies, according to physicians.
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Expensive Cost of Treatment to restrict Market Growth
The market is projected to get significantly affected by the challenging factors such as limited availability and high cost of advanced Hand Eczema (HE) Treatment options. Expensive treatments and related costs such as hospitalization, intensive care, or specialized diagnostic tests, is expected to hinder the market growth. Furthermore, poor healthcare infrastructure, especially in developing countries, can limit access to Hand Eczema (HE) Treatment and the availability of diagnostic and therapeutic options.
Improvement in healthcare spending propelling growth of Hand Eczema (HE) Treatment in Asia Pacific
The Asia Pacific is expected to exhibit the significant growth rate over the forecast period, with a share of 20% during the forecast period. The growth is owed to increased awareness, significant increases in healthcare spending, and a rising frequency of the Hand Eczema (HE) Treatment Market in the region. Asia Pacific is an emerging market due to the increase in point of care approach to health & care. Increasing number of hospitals in India and China makes a promising market for the market worldwide.
Increasing Prevalence of Skin Conditions Shaping Landscape for Hand Eczema (HE) Treatment in North America
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. According to the National Eczema Association, in 2019, around 31.6 million people in the United States had some form of eczema. The United States of America holds the highest share in the North American market, followed by Canada. Factors such as a large and aging population, increasing awareness about Hand Eczema (HE), high disposable income levels and the presence of a large patient population are expected to further drive market growth in the United States are leading to the growth of the market.
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Hospitals to take the lead and drive market growth
According to the FMI analysis, Hospital pharmacy accounts for the largest market share. The requirement for several hospital stays and visits during the hand eczema treatment facilitates the growth of this segment. Majority of skin problems are treated in hospitals, and with the availability of trained medical personnel, it is simpler to control an individual's health more correctly.
Key startups in the Hand Eczema (HE) Treatment market include
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.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 53 Million |
| Market Value in 2033 | USD 114.42 Million |
| Growth Rate | CAGR of 8% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, End-User, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, NorHand Eczema (HE)s, BENELUX, Australia & New Zealand, China, India, Association of Southeast Asian Nations, Gulf Cooperation Council, South Africa |
| Key Companies Profiled | GlaxoSmithKline; Pfizer; Sanofi; Johnson & Johnson and Novartis |
| Customization | Available Upon Request |
The global market size to reach USD 114.42 million by 2033.
Pfizer, Sonafi and Johnson & Johnson are the top key players.
The global market is estimated to secure a CAGR 8% through 2033.
Expensive cost of treatments are likely to limit market growth.
The hospital segment is highly preferred in the global market.
1. Executive Summary | Hand Eczema (HE) Treatment Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Topical Corticosteroids 5.2. Topical Calcineurin Inhibitors 5.3. UV Therapy 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Users 6.1. Hospitals 6.2. Specialty Centers 6.3. Ambulatory Surgical Centers 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Sanofi 15.2. Incyte Corporation 15.3. Asana Biosciences 15.4. Leo Pharma 15.5. Regeneron Pharmaceuticals 15.6. Meda AB 15.7. AstraZeneca 15.8. Pfizer 15.9. GlaxoSmithKline plc 15.10. Anacor Pharmaceuticals 16. Assumptions & Acronyms Used 17. Research Methodology
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Hand Eczema (HE) Treatment Market
