The global prurigo nodularis treatment market is poised for substantial growth, projected to reach a valuation of USD 693.3 million by 2023, according to a recent report by Future Market Insights. The market is anticipated to expand at a compound annual growth rate (CAGR) of 3.0% from 2023 to 2033, potentially reaching USD 930.9 million by the end of the forecast period.
Prurigo nodularis, a rare and debilitating skin condition, has prompted significant advancements in orphan drug development. Regulatory bodies have implemented favorable measures to accelerate the development and approval processes for drugs targeting rare diseases. These initiatives are expected to catalyze the expansion of the prurigo nodularis treatment market.
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Key Takeaways from the Market Study:
- Global prurigo nodularis treatment market grew at a CAGR of 2.8% between 2017 and 2022.
- Europe prurigo nodularis treatment market accounted for a revenue share of 58.6% in 2022.
- Germany is expected to dominate the regional market by growing at a CAGR of 5.1% during the forecast period.
- North American prurigo nodularis market accounted for a revenue share of 14.9% in 2022.
- Japan is considered to be among the most developed nations raising the share of the market with a value of 4.0%
- Growth in the economy for prurigo nodularis treatment has led to colossal growth in China market at a CAGR of 3.6%
- Capsacin cream segment dominated the prurigo nodularis treatment market by accounting for a revenue share of 40.34% in 2022.
- Retail pharmacies accounted for a revenue share of 53.10% in 2022, in the prurigo nodularis treatment market.
“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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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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