The global prurigo nodularis treatment market is on track for significant growth, with projections estimating a rise to USD 693.3 million by 2023, according to a recent report from Future Market Insights. The market is anticipated to expand at a compound annual growth rate (CAGR) of 3.0% between 2023 and 2033, potentially reaching a valuation of USD 930.9 million by the end of the forecast period.
Prurigo nodularis, a rare and often debilitating skin condition characterized by itchy nodules, has become a focal point for medical research and orphan drug development. As a result of growing awareness and increasing research into rare diseases, the regulatory landscape has become more favorable, with accelerated approval processes designed to bring treatments to market faster. These advancements are expected to fuel market expansion as demand for effective treatment options rises.
Key Insights from the Market Study:
- The global prurigo nodularis treatment market grew at a steady pace of 2.8% CAGR from 2017 to 2022.
- Europe continues to be the leading market, accounting for 58.6% of global revenue share in 2022.
- Germany, a key European market, is expected to maintain its dominance, growing at a robust CAGR of 5.1% during the forecast period.
- North America held a 14.9% revenue share in the prurigo nodularis treatment market in 2022, with further expansion anticipated.
- The Japanese market is considered one of the most developed globally, with a market share of 4.0%.
- China’s growing economy has resulted in a significant market boom, with a projected CAGR of 3.6%.
- Capsaicin cream remains a market leader, accounting for 40.34% of the prurigo nodularis treatment market share in 2022.
- Retail pharmacies have been a major distribution channel, representing 53.10% of revenue share in 2022.
As treatment options for prurigo nodularis continue to improve, the market is poised for continued growth driven by innovative therapies, regulatory support, and expanding awareness. With key players focusing on research and development, the next decade looks promising for the treatment of this rare condition.
“Innovations in new treatment options and increasing demand for capsaicin cream are the prominent drivers to raise the market growth of the Prurigo Nodularis Treatment”, says comments a Future Market Insights Analyst.
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Competitive Landscape:
Some of the prominent players in the global market are-
- 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.
Some of the important developments of the key players in the market are:
- In June 2023, The Janssen Pharmaceutical Companies of Johnson & Johnson announced results from an interim analysis of Cohort 1 of the Phase 3 THOR study, evaluating treatment with BALVERSA® (erdafitinib) versus chemotherapy in patients with metastatic or unresectable urothelial carcinoma (UC) and selected fibroblast growth factor receptor (FGFR) gene alterations who had received prior treatment with an anti-programmed death ligand 1 (PD-[L]1) agent.
- The study met its primary endpoint of overall survival (OS) and reduced the risk of death by 36 percent. 1 Following the accelerated approval of BALVERSA® in 2019, these confirmatory data were featured in a Late-Breaking Presentation Session (Abstract # LBA4619) at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting.
Key Segmentation:
By Drug Class:
- Corticosteroids
- Topical
- Oral
- Emollients
- Capsaicin Cream
- Antihistamines
- Anticonvulsants
- Antidepressants
- Neurokinin 1 Receptor (NK1R)
- Opiate Receptor Antagonists
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East & Africa
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