High target disease prevalence, product launches, increasing strategic developments such as partnerships and agreements, favorable research funding scenario
NEW YORK, NY, UNITED STATES, November 9, 2021 /EINPresswire.com/ — 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.
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 2020-2028.
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A comprehensive analysis of the value chain and downstream raw materials and upstream essentials is offered in the report. The market report also covers technical data, manufacturing and production costs, research and development activities, regulatory framework, macro and micro-economic factors, and globalization. The report further segments the Pruritus Therapeutics market on the basis of key companies, product types, applications, and key regions to impart better understanding of the Pruritus Therapeutics market.
Leading Companies Profiled in the Report are:
Allergan, Astellas Pharma, Bristol-Myers Squibb, Cipla, Eli Lilly, GlaxoSmithKline, Merck, Novartis, Pfizer, and Sanofi.
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.
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For the purpose of this report, Reports and Data has segmented the Pruritus Therapeutics market on the basis of type, disease type, treatment type, end use, and region:
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
Treatment Type (Revenue, USD Million; 2018–2028)
• Itchy skin treatment
• Corticosteroid creams and ointments
• Other creams and ointments
• Oral medications
End Use (Revenue, USD Million; 2018–2028)
Key Regions Covered in the Report:
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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The pharma and healthcare industry, over the recent past, has undergone a paradigm shift with regards to the adoption of advanced technologies. Integration of AI, ML, 3D printing, and AR/VR have accelerated the R&D process, develop innovative and personalized medicines and therapies, and have improved efficiency and effectiveness of overall healthcare processing thereby improving patient outcomes. In addition, growing popularity and acceptance of wearable tech that enables patients to manage their health and make fruitful decisions and increasing integration of patient monitoring systems have further contributed to the revenue growth of the market. Progress in genomics and proteomics, focus on personalized medicine, and increasing number of clinical trials for pipeline therapeutics are further expected to create lucrative opportunities for key players in the market.
Key Benefits of the Global Pruritus Therapeutics Market Report:
• In-depth analysis of the market potential, threats, limitations, growth prospects and opportunities, drivers, restraints, challenges, and risks
• Analysis of the market opportunities and key trends to help stakeholders capitalize on the emerging prospects
• Analysis and accurate forecast estimation of the Global Pruritus Therapeutics Market
• Study of the key players including SWOT analysis and Porter’s Five Forces
• Analysis of each segment and sub-segment of the market to determine the growth trends and their market contribution
• Study of the developments in the competitive landscape such as agreements, partnerships, expansions, new product launches and brand promotions, and other market features
Highlights of the TOC of the report:
• Chapter 1: Market overview
• Chapter 2: Global Pruritus Therapeutics market analysis
• Chapter 3: Regional analysis of the Pruritus Therapeutics industry
• Chapter 4: Market segmentation based on types and applications
• Chapter 5: Revenue analysis based on types and applications
• Chapter 6: Market share
• Chapter 7: Competitive Landscape
• Chapter 8: Drivers, Restraints, Challenges, and Opportunities
• Chapter 9: Gross Margin and Price Analysis
• So on
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Source: EIN Presswire