Prurigo Nodularis Treatment Market size was valued at USD 1,125.67 Million in 2021 and is projected to reach USD 1,822.35 Million by 2030, growing at a CAGR of 5.3% from 2023 to 2030.
The skin condition known as Prurigo Nodularis develops firm, itchy bumps on the skin. It can be accompanied by substantially reduced kidney function, uremic pruritis, and may or may not be the initial sign of chronic autoimmune cholestatic hepatitis. When people scratch themselves to the point of bleeding or pain, the itching can be really bad. Scratching can also cause skin sores to develop. Heat, sweating, or irritation from the clothing may make it worse. Following a skin sample and blood testing to look for illness indicators such thicker skin nerves, the diagnosis for this is made. One of the more difficult duties is the treatment of prurigo nodularis.
Market Overview:
The market is expanding due to the rising need for orphan pharmaceuticals to treat the rare disease prurigo nodularis. Additionally, factors include increased R&D for the treatment of such diseases and rising demand for better treatments are all predicted to boost the market. These drivers include increasing government initiatives on healthcare infrastructure and awareness. The demand for improved prurigo nodularis treatment is increasing as a result of increased treatment awareness, which is anticipated to accelerate the growth of the prurigo nodularis treatment market.
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Key Companies Insights
The market for Prurigo nodularis treatment is moderately competitive. With the rising applications of Prurigo nodularis treatment, new players are considering to enter the market. The companies are also involved in activities like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the Prurigo nodularis treatment market, ultimately boosting the market growth. Some of the key companies working in the global Prurigo nodularis treatment market include:
• Johnson & Johnson Services Inc.
• Celgene Corporation
• Menlo Therapeutics Inc.
• VYNE Therapeutics Inc.
• Teva Pharmaceutical Industries Ltd
• Pfizer Inc.
• Takeda Pharmaceutical Company Limited
• Bayer AG
• Merck & Co. Inc.
• Sanofi SA
• GlaxoSmithKline plc.
• Other players
Some of the Recent Developments:
• In July, 2021 Pfizer Inc. and BioNTech SE signed a letter of intent with The Biovac Institute (Pty) Ltd to manufacture the Pfizer-BioNTech COVID-19 Vaccine for distribution within the African Union.
• In March 2021. Takeda Pharmaceutical Company Limited declared a partnership with Enzyre to fasten the development of Enzyre’s proprietary platform Enzypad, which will permit patients to test their blood coagulation at homes.
• In April 2020, the issue of the results from 2 phase three trials for the drug known as Serlopitant that is used in the management of prurigo nodularis was declared by the VYNE Therapeutics Inc.
• In December 2019, Galderma S.A stated that the U.S FDA has allowed the innovation therapy description to the new therapy of Nemolizumab for the cure of prurigo nodularis.
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Segments
By Product
• Antihistamines
• Capsacin Cream
• Corticosteroids
• Emollients
• Others
By Distribution Channel
• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
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Additionally, various non-governmental organisations support transitional initiatives with the aid of cooperative funding mechanisms, providing adequate cash for the study and development of the Prurigo Nodularis Treatment Market. Due to these activities, the Prurigo Nodularis Treatment Market has the potential to grow throughout the anticipated time frame. There are some restrictions and challenges that will hinder the market from growing. The availability of alternatives is one of the main limiting factors. There are many different therapy choices on the market, which could have an impact. Additionally, Prurigo nodularis therapy involves experience, or to put it another way, experts, therefore a shortage of expertise has the potential to restrain market expansion to some level over the course of the anticipated period.
The market is expected to develop as the incidence of diseases such prurigo nodularis and bacterial infections rises, along with the number of individuals who suffer from these conditions. The population between the ages of 20 and 60, as well as those with HIV and atopic dermatitis, are the market’s primary emphasis areas. The population’s growing awareness of the treatments may also contribute to the market’s expansion. There may be more potential for the market to expand as a result of various new developments in the treatment industry.
The prurigo nodularis treatment market is anticipated to increase, but it will be constrained by a lack of spending in the field and side effects from pharmacological therapy.
Reasons to Purchase this Report
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
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