Pediatric Dermatology Treatment Market size is expected to register around 9.3% CAGR during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the increasing prevalence of skin disorders around the world, and rise in awareness levels associated with the progression of dermatology diseases. As per the World Psoriasis Day consortium, as of 2020, 125 million people around the world were suffering from psoriasis, which is about 2 to 3 percent of the total population. Along with these, growing incidences of weakened immune systems among children as a result of sedentary lifestyle is also expected to drive significant growth to the market in the forthcoming years. Furthermore, high healthcare expenditures in developed countries, and surge in technological advancements to develop improved treatment options for skin diseases are projected to offer lucrative opportunities for pediatric dermatology treatment market growth in the near future.
Growth Drivers
Challenges
|
2023 |
|
|
Forecast Year |
2024–2036 |
|
CAGR |
9.3% |
|
Regional Scope |
|
The market is segmented by application into alopecia, erythromelalgia, psoriasis, atopic dermatitis, and others, out of which, the psoriasis segment is anticipated to hold the largest share in the global pediatric dermatology treatment market. This can be accounted to the increasing occurrence of psoriasis among children across the globe, and growing development of new medications for treating this condition. Additionally, on the basis of end user, the hospitals segment is assessed to acquire the largest share during the forecast period, which can be credited to the high preference of patients to be treated by a healthcare professional in a hospital facility. Apart from this, high number of admissions in hospitals is also predicted to fuel the market segment growth in the future.
Our in-depth analysis of the global market includes the following segments:
|
By Drug Class |
|
|
By Application |
|
|
By End User |
|
On the basis of geographical analysis, the global pediatric dermatology treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific industry is set to hold largest revenue share by 2036, impelled by large patient pool and growing number of incidences of dermatology diseases among children in the region. Moreover, the market in North America is expected to occupy the largest share during the forecast period ascribing to the high healthcare spending, and increasing awareness about skin diseases in the region. As per the Centers for Medicare & Medicaid Services, the healthcare spending in the United States grew 4.6 percent in 2019, reaching a value of USD 3.8 trillion. As a share of the nation's Gross Domestic Product, health spending accounted for 17.7 percent that year. In addition, strong presence of pharmaceutical companies is also anticipated to bolster the pediatric dermatology treatment market growth in the region in the coming years.
February 2021- Bristol Myers Squibb announced positive results from POETYK PSO-2, the second Phase III clinical trial evaluating deucravacitinib, which is a novel, selective tyrosine kinase 2 inhibitor for treating patients with moderate to severe plaque psoriasis.
May 2020- Sanofi S.A. received the United States Food and Drug Administration for Dupixent for the treatment of moderate-to-severe atopic dermatitis.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?