It is estimated that the prurigo nodularis treatment market growth will reach US$ 930.9 million by 2033, having grown at a compound annual growth rate (CAGR) of 3.0% from 2023 to 2033.Due to numerous key factors, including as increased R&D expenses, a growing need for improved products, and a growing need for better medications, it is projected that the market for prigo nodularis therapy will grow significantly over the next several years.
With atopic dermatitis and other skin disorders becoming more common, there will likely be a demand for prurigo nodularis therapy medications. Additionally, the expanding rates of product uptake around the world are a result of increased understanding of the numerous therapeutic alternatives. This demographic’s high pruritus prevalence in conjunction with the ageing population
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New growth opportunities are anticipated to arise from the presence of emerging economies such as China and India. The increasing prevalence of e-commerce platforms, combined with their easy accessibility, has contributed to the widespread availability of products in different regions. This trend is anticipated to drive global sales of treatment drugs for prurigo nodularis in the coming years.
Key Takeaways from the Market Report
- Europe is expected to dominate the market while growing with a CAGR of 3% during the forecast period.
- The market in India is projected to witness a CAGR of 3.5% during the forecast period.
- The market in France is expected to grow at a 4.7% CAGR during the forecast period.
- By drug class, capsaicin cream is projected to lead the segment and is estimated to grow with a CAGR of 3.6% during the forecast period.
- By distribution channel, retail pharmacies are expected to lead the market. It is expected to grow with a CAGR of 3.9% throughout the forecast period.
“Growing prevalence of atopic dermatitis and rising investments to develop advanced products are expected to drive market growth in the forecast period,” comments an FMI Analyst
Competitive Landscape
The prurigo nodularis treatment market is extremely competitive and consists of various key industry players. These players are heavily investing in manufacturing prurigo nodularis treatment drugs.
Key industry players leverage organic growth strategies like acquisition, agreements, mergers, partnerships, and collaboration to strengthen their product portfolio. This is expected to fuel the demand for prurigo nodularis treatment drugs in the forecast period.
The key industry players are Bayer AG, Pfizer, Inc., GlaxoSmithKline Plc., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Johnson & Johnson, Merck & Co. Inc., Sanofi SA, Novartis AG, Celgene Corporation, Galderma SA (Nestle Skin Health Company), VYNE Therapeutics Inc.
Some recent developments in the market are:
- In 2021, Curadigm, a company in collaboration with NANOBIOTIX, announced a new agreement. NANOBIOTIX is a clinical-stage biotechnology company with a primary focus on developing first-in-class product candidates that utilize proprietary nanotechnology to revolutionize cancer treatment.
- In 2021, Takeda Pharmaceutical Company Limited initiated a partnership agreement with Enzyre to enhance the development of Enzyre’s proprietary platform Enzypad which will allow patients to test their blood coagulation at home.
- In 2021, Teva Pharmaceuticals introduced a generic version of SOOLANTRA (ivermectin) Cream, 1%, that needs to be applied once daily to cure rosacea inflammatory lesions in the United States.
- In March 2021, Pfizer Inc. announced that the FDA had approved its supplemental new drug application (sNDA) for EUCRISA® (crisaborole) ointment, 2%, for the treatment of mild-to-moderate atopic dermatitis in patients aged 3 months and older.
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Key Segments Profiled in the Prurigo Nodularis Treatment Industry Survey
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
- Middle East & Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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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