Pruritus Therapeutics Market Size Worth USD 19.98 Billion By 2028
According to the current analysis of Reports and Data, the global Pruritus Therapeutics market was valued at USD 12.40 Billiion in 2020 and is expected to reach USD 19.98 Billion by year 2028, at a CAGR of 6.23 percent. The study covers therapeutic agents for ‘Pruritus’ - an unpleasant sensation that stimulates desire to scratch the skin. Pruritus therapeutics are available in wide range of skin conditions and other underlying causes of pruritus. Recent emergence of TRP channels as a drug target for treatment of itching is a major disruptive finding in pruritus sector. In line with this, TRP channel antagonists, TRPM8 agonists are some of the emerging TRP channel modulation mechanisms that can be for could be used for pruritus treatment.
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Rising prevalence of target diseases, unmet needs of pruritus patients pushing the drug development, significant focus of pharmaceutical companies on development of novel mechanisms based pruritus drugs, upcoming patent expiry, availability of public as well private funds for research, and favorable regulatory scenario, are some of the key factors propelling market growth in the industry. However, associated side effects, and availability of advanced alternative treatment options such as photo therapy, are the major hindrance for market growth during 2019-2026.
Further key findings from the report suggest
- Pruritus Therapeutics market is growing at a CAGR of 1% in Asia Pacific followed by North America and Europe, with 6.1 % and 6.0% CAGR, respectively. High pruritus prevalence across the globe is the key factor to accelerate the market growth during forecast period across all regions.
- As of 2019, Corticosteroids is the dominating pruritus therapeutics which holds 41.4% of the global market. European regional market is the chief revenue generating source for this product segment, followed by North America and Asia-Pacific regions.
- Calcineurin Inhibitors is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 6.9%. However, associated side effects and costs are major challenge for the market growth of this market segment.
- Skin conditions disease type segment (that includes xerosis, dermatitis, psoriasis, scabies, burns & scars, insect bites and hives) . was valued at USD 7.60 billion and is expected reach USD 12.60 billion by 2026.
- Asia Pacific is expected to account for the 24.3% of the global Pruritus therapeutics market. Developing nations such China, and India are likely to witness high growth
- Associated side effects related to pruritus therapeutics and lack of awareness about pruritus is likely to hinder the market growth during the forecast period.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
Allergan, Astellas Pharma, Bristol-Myers Squibb, Cipla, Eli Lilly, GlaxoSmithKline, Merck, Novartis, Pfizer, and Sanofi.
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Pruritus Therapeutics Market Segmentation:
Type (Revenue, USD Million; 2018–2028)
- Local Anesthetics
- Calcineurin Inhibitors
Disease Type (Revenue, USD Million; 2018–2028)
- Skin conditions
- Atopic Dermatitis
- Allergic Contact Dermatitis
- Internal diseases
- Nerve disorders
- Psychiatric diseases
- Irritation and allergic reactions
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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