Philippines Atopic Dermatitis Therapeutics Market Analysis

Philippines Atopic Dermatitis Therapeutics Market Analysis: Executive Summary

The Philippines Atopic Dermatitis Therapeutics Market is at around US $27 Mn in 2022 and is projected to reach US $55 Mn in 2030, exhibiting a CAGR of 9.3% during the forecast period.

Atopic dermatitis, commonly referred to as eczema, is a chronic skin condition characterized by inflammation, redness, and irritation. It is not contagious and can affect individuals of all age groups, often beginning in childhood. Key risk factors include a personal or familial history of eczema, allergies, hay fever, or asthma. Typical symptoms include intense itching, redness, swelling, cracking, clear fluid discharge, crusting, and scaling. Treatment approaches for atopic dermatitis may involve regular moisturizing and self-care practices, the application of medicated creams to alleviate itching and support skin repair, the use of topical or oral medications, and additional therapies such as phototherapy or immunosuppressants. Various companies, including Sanofi, Pfizer, AbbVie, Leo Pharma, Eli Lilly, and Novartis, offer therapeutic options for atopic dermatitis. Their product portfolios include topical corticosteroids, calcineurin inhibitors, and other medications designed to relieve the symptoms of this skin condition.

The estimated prevalence ranges from 8.7% to 15.1%, with a significant impact on children. The market is being driven by significant factors such as the increasing prevalence of AD, supportive government policies, and improved socioeconomic conditions. However, conditions such as limited affordability, a lack of awareness, and local competition limit the growth and potential of the market.

Market Dynamics

Market Growth Drivers

Surge in prevalence of AD: An increasing number of Filipinos are experiencing the impact of atopic dermatitis, influenced by urbanization, Westernized lifestyles, and environmental factors. The estimated prevalence varies between 8.7% and 15.1%, with a notable impact on children.

Improved socioeconomic conditions: The growth in disposable incomes among Filipinos results in higher healthcare expenditures and enhanced affordability for atopic dermatitis treatments. The concentration of the population in urban areas facilitates access to specialized dermatologists and advanced treatment options, thereby increasing market demand.

Improved government policies: Market growth is being propelled by public healthcare programs that promote awareness, facilitate access to medication, and encourage treatment. Additionally, the private sector, with pharmaceutical companies increasingly concentrating on the Philippine market, is introducing new drugs and expanding distribution channels.

Market Restraints

Limited affordability: The extended use of medications and emollients for long-term management imposes a notable financial strain on patients. Restricted disposable income in specific demographics hinders market penetration. Public reimbursement through the PhilHealth insurance system covers certain treatments, but its limitations and exclusions mean that many patients are accountable for out-of-pocket expenses.

Lack of awareness: Insufficient awareness about atopic dermatitis can result in misdiagnosis, delayed treatment, and a dependence on ineffective home remedies. This impedes the proper adoption of appropriate therapies in the market. The social stigma linked to skin conditions may dissuade patients from seeking medical assistance, thereby further restricting market growth.

Local competition: The market is saturated with generic topical steroids and emollients, sparking price competition and compressing profit margins for pharmaceutical companies. This discourages investment in research and development for innovative therapies.

Healthcare Policies and Regulatory Landscape

The healthcare regulatory landscape in the Philippines is overseen by the Food and Drug Administration (FDA) under the Department of Health. The FDA is the main regulatory authority responsible for ensuring the safety, efficacy, and quality of drugs, medical devices, and other health-related products in the country.

Companies intending to introduce new drugs to the Philippine market must adhere to the regulatory processes set by the FDA, which include the submission of comprehensive documentation demonstrating product safety, efficacy, and quality. The FDA conducts thorough evaluations to assess compliance with local standards and regulations before granting approval for the marketing and sale of pharmaceutical products in the Philippines.

For new entrants in the Philippine healthcare market, understanding and navigating the regulatory environment is crucial. Obtaining licenses for pharmaceutical products involves a systematic approach of submitting required documents, conducting necessary tests, and meeting regulatory standards set by the FDA. The regulatory environment emphasizes the importance of compliance with safety and quality standards, and new entrants should invest in regulatory affairs and quality assurance to successfully navigate the approval process.

Competitive Landscape

Key Players

• UniLab
• Bayer
• Abbott Laboratories
• GlaxoSmithKline
• Novartis
• Johnson & Johnson
• Merck Sharp & Dohme
• United Laboratories
• Pascual Laboratories
• International Pharmaceuticals