Contact Dermatitis Therapeutics: Introduction
Contact dermatitis is a common skin problem characterized by itchiness, redness, swelling or peeling, and vesiculation. Contact dermatitis can be a long-term skin disease, which is classified into different types depending on skin conditions such as allergic contact dermatitis and irritant contact dermatitis. Soaps, detergents, acids, bases, solvents, saliva, urine, and stool are the most common triggers for irritant contact dermatitis. Cosmetics, clothes dyes, medicines, rubber, foods, and poison ivy are common causes of allergic contact dermatitis. The medication treatment of contact dermatitis depends on the pattern, duration, and severity of skin lesions. According to Edesa Biotech, Inc., more than 13.2 million people in the U.S. are suffering from contact dermatitis; between 20% and 60% of all cases of contact dermatitis have been diagnosed as allergic contact dermatitis.
Key Drivers and Restraints of Global Contact Dermatitis Therapeutics Market
- Advancements in therapy; and constant innovation and research in contact dermatitis treatment are expected to drive the global contact dermatitis therapeutics market during the forecast period. For instance, Edesa Biotech, Inc. is developing novel targeted therapies, such as EB01 and novel sPLA2 inhibitor, for the topical treatment of chronic Allergic Contact Dermatitis (ACD). EB01 employs a novel mechanism of action. Two clinical studies demonstrate statistically significant improvement of multiple symptoms in contact dermatitis patients.
- Increase in awareness about skin problems and allergic reactions is boosting the demand for contact dermatitis treatment. Patients are now more pro-active about their health and are willing to seek physician's advice at an early stage. Rise in literacy rate plays a significant role in general awareness among patients for managing allergic contact dermatitis (ACD) treatment. Besides, rise in per capita disposable income is encouraging people to spend freely on health care facilities, thus contributing to the growth of the contact dermatitis therapeutics market.
North America to Lead Global Contact Dermatitis Therapeutics Market
- In terms of region, the global contact dermatitis therapeutics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are likely to account for major share of the global contact dermatitis therapeutics market during the forecast period, owing to developed health care infrastructure, large patient population, and increase in technological developments in these regions. According to the National Health and Nutrition Examination Survey (NHANES), the prevalence of contact dermatitis stands at 13.6 cases per 1000 population. Additionally, development of novel therapies such as EB01 and rise in awareness about allergies are expected to drive the market during the forecast period.
- Europe is expected to constitute prominent share of the global contact dermatitis therapeutics market during the forecast period due to rise in awareness about contact dermatitis in the region
Key Players Operating in Global Contact Dermatitis Therapeutics Market
- The global contact dermatitis therapeutics market is fragmented, with presence of less number of small-scale companies in drug development. Hapten Sciences, Inc. is developing a lead product candidate, PDC-APB, which is a novel, first-in-class, compound for a new indication to prevent contact dermatitis due to exposure to poison ivy, oak, and sumac.
- Acquisition of product portfolio of emerging players is a key strategy adopted by leading players for business expansion. Companies usually acquire R&D units of emerging players in order to co-develop innovative technologies. Mergers & acquisitions offer immense opportunities to companies in terms of financial leverage for production and commercialization of products.
- Unmet needs in contact dermatitis therapeutics create significant opportunities for investors. Investment in R&D of cost-effective solutions is a focus area of major companies. This is expected to boost the global contact dermatitis therapeutics market in the next few years.
Leading companies operating in the global contact dermatitis therapeutics market are:
- F. Hoffmann-La Roche Ltd
- Brickell Biotech Inc
- Dr. August Wolff GmbH & Co KG Arzneimittel
- ILiAD Biotechnologies LLC
- Signum Dermalogix Inc
- SBI Biotech Co.,Ltd.
- ViroMed Co., Ltd.
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Sun Pharmaceutical Industries Limited
- Edesa Biotech, Inc.
- Hapten Sciences Inc
Global Contact Dermatitis Therapeutics Market: Research Scope
Global Contact Dermatitis Therapeutics Market, by Product
- Topical Steroids
- Topical Immunomodulators
- Systemic Steroids
- Other Drugs
Global Contact Dermatitis Therapeutics Market, by Type
- Irritant Contact Dermatitis
- Allergic Contact Dermatitis
Global Contact Dermatitis Therapeutics Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
Global Contact Dermatitis Therapeutics Market, by Route of Administration
Global Contact Dermatitis Therapeutics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.