The global prurigo nodularis treatment market size is expected to increase USD 3.17 billion by 2033 from USD 2.13 billion in 2023 with a CAGR of 4.03% between 2024 and 2033.
Key Points
- The North America prurigo nodularis treatment market size accounted for USD 870 million in 2023 and is expected to attain around USD 1,300 million by 2033.
- North America dominated the market with the major market share of 41% in 2023.
- Asia Pacific is estimated to be the fastest growing during the forecast period of 2024-2033.
- By product type, the corticosteroids segment has held the biggest market share of 37% in 2023.
- By product type, the antihistamines segment is estimated to be the fastest growing during the forecast period.
- By distribution channel type, the retail pharmacies segment has contributed more than 42% of market share in 2023.
- By distribution channel type, the online pharmacies segment is expected to be the fastest growing during the forecast period.
The Prurigo Nodularis Treatment market encompasses pharmaceuticals and therapies aimed at managing and alleviating the symptoms of prurigo nodularis, a chronic skin condition characterized by intensely itchy nodules or bumps on the skin. This market has witnessed growth due to increasing awareness about prurigo nodularis, advancements in treatment options, and rising prevalence of the condition globally.
Get a Sample: https://www.precedenceresearch.com/sample/4279
Growth Factors
Several factors contribute to the growth of the Prurigo Nodularis Treatment market. One key driver is the growing incidence of prurigo nodularis, particularly among the elderly population. Additionally, advancements in dermatological research have led to the development of novel therapies targeting specific pathways involved in the pathogenesis of prurigo nodularis. Moreover, increased healthcare spending and improved access to healthcare services in emerging economies are expected to drive market growth.
Region Insights
The market for Prurigo Nodularis Treatment is globally distributed, with North America and Europe leading in terms of market share due to the higher prevalence of prurigo nodularis in these regions. However, Asia Pacific is anticipated to witness significant growth attributed to the increasing awareness about the condition and rising healthcare infrastructure.
Prurigo Nodularis Treatment Market Scope
Report Coverage | Details |
Prurigo Nodularis Treatment Market Size in 2023 | USD 2.13 Billion |
Prurigo Nodularis Treatment Market Size in 2024 | USD 2.22 Billion |
Prurigo Nodularis Treatment Market Size by 2033 | USD 3.17 Billion |
Growth Rate from 2024 to 2033 | CAGR of 4.03% |
Largest Market | North America |
Base Year | 2023 |
Forecast Period | 2024 to 2033 |
Segments Covered | By Product Type and By Distribution Channel |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Prurigo Nodularis Treatment Market Dynamics
Drivers
Key drivers of the Prurigo Nodularis Treatment market include the introduction of targeted therapies and biologics, increased research and development activities focusing on dermatological conditions, and growing collaborations between pharmaceutical companies and research institutions. Additionally, rising patient awareness and advocacy efforts contribute to the demand for effective treatments.
Opportunities
The market presents several opportunities for pharmaceutical companies and healthcare providers. There is a growing need for safer and more effective treatments with fewer side effects. Opportunities also lie in expanding market reach to underserved regions and developing innovative therapeutic approaches that address the underlying mechanisms of prurigo nodularis.
Challenges
Despite growth prospects, the Prurigo Nodularis Treatment market faces challenges such as limited understanding of the exact etiology of the condition, which complicates the development of targeted therapies. Additionally, reimbursement issues and high treatment costs may hinder market expansion, particularly in developing regions. Regulatory hurdles and stringent approval processes for new treatments also pose challenges to market players.
Read Also: Medical Gas Market Size to Surpass USD 32.47 Billion by 2033
Prurigo Nodularis Treatment Market Recent Developments
- In February 2023, Pfizer’s supplemental new drug applications (NDA) for abrocitinib (CIBINQO) was announced by the United States (U.S.) Food and Drug Application (FDA) for the treatment of serious atopic dermatitis, refractory, skin clearance, itching, severity, and disease extent for the 12 to less than 18 years of age group.
- In October 2023, new positive pruritus data for VTAMA Cream from their essential phase 3 trials was announced by a clinical-stage biopharmaceutical company, Dermavant Sciences (tapinarof). This is for children as young as two years old, and 1% of adults suffer from atopic dermatitis. It is also important to reduce itching, burning, redness, and itching.
- In February 2024, the Food and Drug Administration (FDA) accepted Galderma’s BLA (biological license application) for Nemolizumab to treat atopic dermatitis and prurigo nodularis.
Prurigo Nodularis Treatment Market Companies
- Bayer AG
- Celgene Corporation
- Glaxo Smith Kline plc
- Galderma Takeda Pharmaceuticals (Nestle Skin Health Company)
- Johnson & Johnson Services Inc.
- Merk & Co. Inc
- Novartis AG
- Pfizer Inc
- Sanofi SA
- Teva Pharmaceutical Industries Ltd
- Takeda Pharmaceutical Company Inc
- VYNE Therapeutics Inc.
Segments Covered in the Report
By Product Type
- Antihistamines
- Capsaicin Cream
- Corticosteroids
- Emollients
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
Contact Us:
Mr. Alex
Sales Manager
Call: +1 9197 992 333
Email: sales@precedenceresearch.com
Web: https://www.precedenceresearch.com
Blog: https://www.expresswebwire.com/
Blog: https://www.uswebwire.com/