As Per the Report, the Latin America Atopic Dermatitis Market size is valued at USD 690.95 million in 2023. It is expected to grow at a CAGR of 6.3%, to reach USD 937.81 million by 2028 during the forecast period 2023 to 2028.
Growing prevalence of dermal problems called atopic dermatitis in the region. Atopic dermatitis is more common in children due to allergies, dry skin, inflammatory diseases, hay fever, etc. In 2017, according to a study by the World Health Organization (WHO), more than 950 million people were diagnosed with skin-related diseases. Atopic dermatitis is seen as a chronic inflammatory disease of the skin, affecting more than 80% of children across the world. In Latin America, one in 10 people is expected to develop atopic dermatitis in their lifetime. Furthermore, it is estimated that over 60% of people suffering from atopic dermatitis develop during their infancy.
The large population of patients suffering from atopic dermatitis, eczema, and complications attracts many international pharmaceutical companies for better growth opportunities in the regions. Other market growth drivers include the frequent launch of medicine to treat the disease and the deep penetration of these medications in the market. A significant change in the market is expected in the coming years owing to the developing healthcare system in Latin America. The costs associated with treatment for atopic dermatitis was$ 450 million in 2018, while the total medicinal cost of treating atopic dermatitis was $ 315 million, with an average of $ 102 per patient treated. These numbers are expected to increase and are estimated to drive the Latin American atopic dermatitis market during the projected period.
People also suffer from atopic dermatitis as an occupational hazard, namely occupations such as healthcare professionals, coal miners, scuba divers, geologists, etc. Constant and regular use of detergents and soaps makes the skin prone to dry skin, leading to atopic dermatitis. Atopic dermatitis is treated using oral medications, gels, and creams, etc. With advancements in research and development associated with skin disorders, the market is expected to grow during the predicted period. In addition, the growing number of favorable medical reimbursement policies in the region will also help the market's growth.
Main factors such as high costs associated with the treatment of atopic dermatitis, especially in developing economies, are negatively impacting the market growth rate. Moreover, stringent regulatory policies for new drug approvals are restraining the market in Latin America.
This research report on the Latin America Atopic Dermatitis Market has been segmented and sub-segmented into the following categories
By Treatment Type:
By Route of Administration:
By Distribution Channel:
In 2022, the Brazil atopic dermatitis market was valued at $ 0.5 billion, with annual growth of 4%. Brazil has the largest market share in the Latin America atopic dermatitis market due to a growing population with an ever-increasing prevalence of atopic dermatitis and eczema. About 5.8 million people suffer from some form of atopic dermatitis in the region. In addition, around 15-22% of children and 1-5% of adults suffer from atopic dermatitis. Therefore, Brazil is an important target market for the overall market.
Mexico atopic dermatitis market holds the place for having the highest CAGR growth rate in the Latin America Atopic Dermatitis Market due to the increasing reimbursement policies and increased investments for the development of atopic dermatitis medicines. In addition, the increase in food and skin allergies has led to a significant rise in atopic dermatitis, mainly in children, which has fueled the growth of the atopic dermatitis market in Mexico.
Argentina, Columbia, and Peru are expected to grow healthy, attributed to the developing healthcare system and rapid drug approvals. The Food and Drug Administration (FDA) is expected to reach an annual sales peak of $ 2 billion. These regions are attracting the attention of many international pharmaceutical companies due to cheap labor and the growing population in the upcoming years.
KEY MARKET PLAYERS
Noteworthy Companies dominating the Latin America Atopic Dermatitis Market Profiled in the Report are Astellas Pharma Inc., Valeant Pharmaceuticals International, Inc., and Sanofi S.A. Other players in the market include Anacor Pharmaceuticals, Inc. Meda Pharmaceuticals, Regeneron Pharmaceuticals Inc., and Novartis International AG, Pfizer Inc.
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