Prurigo Nodularis Treatment Market is a skin disorder where lumps or nodules that are firm and irritating appear on the skin’s surface. This disorder falls under the category of chronic inflammatory uncommon disease with unclear aetiology and can range in severity from mild to severe cases. The development of the prurigo nodularis treatment market is anticipated to be aided by improvements in diagnostic technologies and the rate of diagnosis seeking. According to Future Market Insights (FMI), in 2021 the market will expand by 3% year over year. Accelerated demand is anticipated in the near future as the disease’s prevalence is predicted to increase.
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Leading market players are currently focusing on strategic collaborations with various healthcare institutes, universities, governmental agencies, start-up organizations and industry suppliers. This is intended to expand their footprint as well as drive various research and development initiatives.
Besides efforts by market players, initiatives undertaken by regulatory bodies to improve the development and approval process of orphan drug will aid the overall prurigo nodularis treatment market growth. According to FMI, the capsaicin cream segment by drug class is anticipated to gain the momentum significantly contributing towards market growth in the coming years. It is expected to account for over 40% of the market in 2020.
Key Takeaways from Prurigo Nodularis Treatment Market Study
- The demand from the U.S. is expected to rise at a steady pace. It is expected to account for over 91% of the North America market
- France will emerge as a lucrative market, registering above 3% Y-o-Y growth in 2021
- The U.K. and Germany will emerge as other key markets for prurigo nodularis treatment in Europe
- Within East Asia, Japan and China will record rising demand for Prurigo nodularis treatment
Who is Winning?
The global market is set to expand steadily over the forecast period, driven by the increasing prevalence of prurigo nodularis, advancements in technology, and adoption of prurigo nodularis treatment drugs which can be used for long term care needs. In addition to this, changing regulatory dynamics and lack of adequate knowledge has constrained the sales of prurigo nodularis treatment drugs.
Product approvals by the U. S. Food and Drug Administration (FDA) for prurigo nodularis treatment drugs are expected to push towards high competition among market players. For Instance, in December 2019, Galderma SA announced the breakthrough therapy designation to its drug Nemolizumab from the U.S. FDA for treatment of prurigo nodularis.
Some of the key market players covered by FMI include Bayer AG, Pfizer Inc., GlaxoSmithKline Plc., Teva Pharmaceutical Industries Ltd., Johnson & Johnson Services, Inc., Merck & Co. Inc., Sanofi SA, Takeda Pharmaceutical Company Limited, Novartis AG, Celgene Corporation, Galderma SA (Nestle Skin Health Company), VYNE Therapeutics Inc., Trevi Therapeutics Inc. consolidating their positions through mergers, acquisitions and new product launches.
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Want more insights?Future Market Insights (FMI) brings the comprehensive research report on forecast revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global prurigo nodularis treatment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on prurigo nodularis treatment market on basis of drug class such as corticosteroids (injectable, topical, oral), emollients, capsaicin cream, antihistamines, anticonvulsants, antidepressants, neurokinin 1 receptor (NK1R), opiate receptor antagonists and others. And based on distribution channels such as hospital pharmacies, retail pharmacies and online pharmacies across seven major regions.
Prurigo nodularis treatment Market by Category
Drug Class
- CorticosteroidsInjectable
- Topical
- Oral
- Emollients
- Capsaicin Cream
- Antihistamines
- Anticonvulsants
- Antidepressants
- Neurokinin 1 Receptor (NK1R)
- Opiate Receptor Antagonists
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online sales
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Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the products. To understand key growth segments, Future Market Insights provides the ‘Attractiveness Index’ analysis which helps client to identify real market opportunities.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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