Middle East Healthcare Tourism

Middle East Healthcare Tourism

EUCRISA (crisaborole) was developed by Anacor Pharmaceuticals which was later acquired by Pfizer as a novel nonsteroidal treatment for mild-to-moderate eczema. The development process involved clinical trials to establish its safety and effectiveness. It was approved by the U.S. Food and Drug Administration in December 2016, and EUCRISA became available as a prescription ointment for individuals three months of age and older. Its formulation aimed to provide relief from eczema symptoms like itching and inflammation without the use of steroids. The EUCRISA market is growing at a tremendous rate owing to the rising cases of eczema. For instance, according to the National Eczema Association, it is estimated that 1 in 10 individuals will develop eczema during their lifetime, with prevalence peaking in early childhood. Other factors such as the growing awareness programs by the government, growing skin allergies and chronic skin disorders, and surge in expenditure in the healthcare sector are driving factors for the market.

The EUCRISA Market is expected to grow at a strong CAGR of 6.5% during the forecast period owing to the rising government initiatives globally. For instance, each year, the American Society for Dermatologic Surgery annual meeting is organized to the most comprehensive education in dermatologic surgery for dermatologists committed to excellence in cosmetics. Several other factors such as an increased number of product launches, increased usage of medications for skin-related diseases, awareness programs regarding skin diseases, and company collaborations are also leading to the surge in the market.

• Based on distribution channel, the market is bifurcated into online and offline. The offline category held the highest share of the market in 2022. This can be attributed to the increasing popularity of eczema drugs and medications, as well as the easy availability of those medications in the supermarket. The market for the offline segment is highly competitive and is projected to remain so in the foreseeable future. Thus, the offline segment held dominance in the market in the year 2022.
• For a better understanding of the market adoption of the EUCRISA industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is expected to grow with the highest CAGR during the forecast period. The growing number of pharmaceutical companies in Asia-Pacific contributes to the growth of the market in this region. Also, rising cases of eczema and a surge in several people engaged in finding eczema treatment, which is leading to an increase in investment in finding a potential cure for eczema. For example, according to Science Direct, nearly 10% of Indian adults suffer from eczema. Hence, given the large population size of APAC, it is expected to grow with a high CAGR during the forecast period.
• Some of the major players operating in the market are Pfizer Inc.; Abbvie Inc.; Sanofi; Bausch Health Companies Inc.; GSK plc.; LEO Pharma; Regeneron Pharmaceutical Inc.; Evelo Biosciences, Inc.; Cara Therapeutics; and Bristol-Myers Squibb Company.