The anticipated size of the prurigo nodularis treatment market in 2022 was USD 671.4 million and is estimated to be USD 693.3 million in 2023. Various non-government organizations with the help of different funding mechanisms, have led to transitional projects which help in enabling an ample amount of financing for the research and development of the market.
Different initiatives like activities and programs have been undertaken for growth in awareness about rare diseases with their available therapeutic options which in turn boosted the demand for prurigo nodularis treatment. According to Future Market Insights Report, the prurigo nodularis treatment market is projected to expand at a CAGR of 3.0% between 2023 and 2033, totaling around USD 930.9 million by 2033.
The Prurigo nodularis treatment market is experiencing growth due to the rising demand for orphan drugs for the treatment of rare diseases like Prurigo nodularis. Several non-governmental organizations are collaborating with diverse funding mechanisms to facilitate transitional projects that provide adequate financing for research and development in the market.
Various initiatives like awareness activities and programs are expected to increase knowledge about rare diseases and available therapeutic options, thereby driving the demand for prurigo nodularis treatment.
Demand for innovative drugs and preventative therapies to improve patient outcomes is increasing due to the expanding patient population and limited availability of biologics, drugs, and devices for associated disorders. Further, the market for prurigo nodularis therapeutics is anticipated to benefit from the increasing research and development investments aimed at developing orphan drugs for rare health conditions.
The usage of photochemotherapy, cryotherapy, and immunosuppressants for managing prurigo nodularis disease is further expected to propel the market growth during the forecast period.
| Attribute | Details |
|---|---|
| Projected Forecast Value (2022) | USD 671.4 million |
| Projected Forecast Value (2023) | USD 693.3 million |
| Projected Forecast Value (2033) | USD 930.9 million |
| Growth rate | 3.0% CAGR |
| Forecast period | 2023 to 2033 |
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The global prurigo nodularis treatment market grew at a CAGR of 2.8% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 3.0% between 2023 and 2033.
The market for prurigo nodularis treatment benefits from a diverse range of available options, including both topical and oral medications. Patients and healthcare providers can choose from multiple treatment options that suit their specific needs. Ongoing research, such as the development of monoclonal antibodies and other biologic therapies, holds promise for improving patient outcomes.
Advancements in medical technology have led to the introduction of new and innovative treatment options, such as advanced phototherapy methods, providing patients with many choices.
The usage of emollients to treat prurigo nodularis is expected to generate new growth opportunities for the market in the coming years. Emollients offer numerous benefits, including their ability to effectively soothe and heal dry skin. Further, the increase in the prevalence of prurigo nodularis has led to a high demand for effective medications that provide better and quick outcomes. These medications are particularly helpful in improving the appearance and health of the skin, thereby driving the demand for these drugs.
Flexible and easy regulatory guidelines governing the use of orphan drugs for treating prurigo nodularis are expected to shape the demand outlook for treatment drugs during the forecast period. With their well-established supply chain activities for cross-border trading, retail pharmacies are the primary distribution channel for supplying drugs for managing prurigo nodularis disorder which is expected to drive market growth in the forthcoming years further. Moreover, increasing adoption of e-commerce, online pharmacies are expected to witness significant growth which is further expected to fuel market growth in the forthcoming years.
Innovations in New Treatment Options to Drive Market Growth
The rising prevalence of conditions like prurigo nodularis and bacterial infections, coupled with an increase in patients, is expected to drive market growth. Key market players are primarily focusing on the population aged between 20 to 60 years, as well as patients with human immune deficiency virus and atopic dermatitis since they are susceptible to these diseases.
An increase in awareness about treatment options among the population is likely to drive market growth. Additionally, various innovations in the field of treatment are also expected to create new opportunities for market expansion. Further, regulatory bodies are continuously striving to create favorable outcomes for the development and commercialization of orphan drugs for patients with rare diseases. Such regulations help accelerate the development and approval process of investigational drugs.
Increasing Demand for Capsaicin Cream is Fueling the Market Growth
Burgeoning demand for capsaicin cream is further anticipated to propel market growth. Capsaicin cream is estimated to account for a significant share of the global market among different drug classes during the projection period as there is increasing demand for topical drugs that are easy to apply and highly effective. Consequently, increasing demand for capsaicin cream is thus expected to contribute to the growth of the prurigo nodularis treatment market.
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Lack of Awareness about the Disease to Restrain Market Expansion
The dearth of awareness about rare diseases like prurigo nodularis and the available treatment options is expected to hinder the market growth. Poor economic conditions and healthcare infrastructure in some countries impede the adoption of prurigo nodularis treatment. Further, market growth is limited due to the heavy reliance of emerging economies on developed nations for raw materials, skilled labor, advanced technology therapeutics, and drugs.
Germany Driving Growth with a Significant CAGR
Europe prurigo nodularis treatment market accounted for a revenue share of 58.6% in 2022. Germany is expected to dominate the regional market by expanding at a CAGR of 5.1% during the forecast period. The dominant position of Germany in the market can be attributed to the presence of leading market players and significant government-led research and development initiatives in the region.
Rising Rate of Approval and Commercialization of Drugs in the United Kingdom
The United Kingdom is said to hold a profitable market during the forecast period, driven by the increasing prevalence of prurigo nodularis disorder in the region expanding at a CAGR of 2.1% in the market. Moreover, the increasing rate of approval and commercialization of drugs for prurigo nodularis treatment in this region is expected to fuel market growth. The majority of key players have their headquarters based in the United Kingdom, which is expected to induce growth in the region.
The rise in Awareness among Health Professionals is Driving Growth in the United States
North America’s prurigo nodularis market accounted for a revenue share of 14.9% in 2022. The United States alone accounted for a revenue share of 13.7% in the same year. Market growth in this region can be attributed to various factors such as:
Presence of Developed Healthcare Industries
Japan is considered to be among the most developed nations which has the presence of various developed healthcare industries that might help in the immediate treatment of prurigo nodularis thus raising the share of the market with a value of 4.0%
Feasible Costs for the Prurigo Nodularis Treatment in India Market
Prurigo Nodularis Treatment in India is considered to be a great choice as the cost of treatment of such a disorder is reasonable in India and people can easily cure it within a proper period, thus raising the market at a CAGR of 3.5%
Economic Growth Helps China to Hold a Leading Position in the Market
Growth in the economy for prurigo nodularis treatment has led to colossal growth in China market at a CAGR of 3.6%
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Capsaicin Cream to Dominate the Market with a Sizable Share
The capsaicin cream segment dominated the prurigo nodularis treatment market by accounting for a revenue share of 40.34% in 2022.
Capsaicin creams serve as a topical remedy for alleviating primary symptoms related to prurigo nodularis. By reducing the activity of pain-related nerve cells in the skin, topical ointment helps alleviate pain in patients suffering from this skin condition.
Increase the popularity of capsaicin in treating prurigo nodularis which may help in driving the growth of the segment. The lack of effective targeted therapy for the disease is further expected to drive gains in this segment during the forecast period.
Retail Pharmacies Leading the Market with a Significant CAGR
Retail pharmacies accounted for a revenue share of 53.10% in 2022, in the prurigo nodularis treatment market.
Growth of the segment is being driven by the increasing preference for obtaining medications from retail pharmacies. Oral or topical medications are the primary treatment option for patients suffering from prurigo nodularis, with surgical procedures being reserved for cases where they are necessary. As a result, patients prefer to obtain their medications from retail pharmacies, which also offer discounts on various medications, further contributing to market growth.
Patients find retail pharmacies to be easily accessible and a convenient option for purchasing their prescribed medications. Unlike specialty pharmacies, patients do not have to wait for their medications to be delivered. They can simply walk into a retail pharmacy and fill their prescription on the spot.
Patients suffering from prurigo nodularis can find a wide range of medications, including corticosteroids, antihistamines, and other topical treatments, at their local retail pharmacy. Competitive pricing offered by retail pharmacies is an added advantage, particularly for patients without health insurance coverage or high deductibles. These factors are expected to propel growth in retail pharmacies in the prurigo nodularis therapeutics market.
Some of the prominent players in the global market
Some of the important developments of the key players in the market are:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.0% from 2023 to 2033 |
| Market value in 2023 | USD 693.3 million |
| Market value in 2033 | USD 930.9 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Country, By Drug Class, By Distribution Channel, |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; The Middle East & Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, The United Kingdom, France, Spain, Italy, Rest of Europe, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, Rest of Asia Pacific, GCC countries, South Africa, Israel, Rest of the Middle East and Africa |
| Key Companies Profiled | Bayer AG; Pfizer Inc.; GlaxoSmithKline Plc.; Teva Pharmaceutical Industries Ltd.; Johnson & Johnson; Merck & Co. Inc.; Sanofi SA; Takeda Pharmaceutical Company Limited; Novartis AG; Celgene Corporation; Galderma SA (Nestle Skin Health Company); VYNE Therapeutics Inc. |
| Customisation Scope | Available on Request |
The North America market may generate a maximum revenue by 2033.
The United States, the United Kingdom, and Germany may witness significant growth in the market.
The growing awareness and better treatment options are expected to drive sales.
Rising research and development may drive market growth over the coming years.
The market recorded a CAGR of 2.8% in 2022.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 5.1. Corticosteroids 5.1.1. Topical 5.1.2. Oral 5.1.3. Emollients 5.1.4. Capsaicin Cream 5.1.5. Antihistamines 5.1.6. Anticonvulsants 5.1.7. Antidepressants 5.1.8. Neurokinin 1 Receptor (NK1R) 5.1.9. Opiate Receptor Antagonists 5.1.10. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 6.1. Hospital Pharmacies 6.2. Retail Pharmacies 6.3. Online Pharmacies 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Bayer AG 17.2. Pfizer Inc. 17.3. GlaxoSmithKline Plc. 17.4. Teva Pharmaceutical Industries Ltd. 17.5. Johnson & Johnson 17.6. Merck & Co. Inc. 17.7. Sanofi SA 17.8. Takeda Pharmaceutical Company Limited 17.9. Novartis AG 17.10. Celgene Corporation 17.11. Galderma SA (Nestle Skin Health Company) 17.12. VYNE Therapeutics Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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Prurigo Nodularis Treatment Market
