Prurigo Nodularis Treatment Market Set to Register a CAGR of 3.70% and Reach US$ 3.40 Billion by 2031 – Growth Plus Reports
Newark, New Castle, USA, April 19, 2023 (GLOBE NEWSWIRE) — According to a recent Growth Plus Reports assessment, the Prurigo Nodularis Treatment Market is estimated to reach US$ 3.40 billion by 2031, with a revenue CAGR of 3.70%. The report examines the vital growth strategies, factors and prospects, competitive scenarios, shifting industry trends, market dynamics, data and forecasts, and ideal investment regions.
- Increased prevalence of prurigo nodularis will drive market revenue growth.
- North America will register the fastest revenue growth in the global Prurigo nodularis treatment market.
- The increasing awareness will fuel the growth of the market.
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Prurigo Nodularis Treatment Market Scope
|Market Size Value in 2022||US$ 2.5 billion|
|Market Size Value in 2031||US$ 3.4 billion|
|Growth Rate||CAGR of 3.7% from 2023 to 2031|
|Base Year for Estimation||2022|
|Forecast Period||2023 to 2031|
|Segments Covered||Product, Distribution Channel, and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
The increasing prevalence of prurigo nodularis is the major factor driving the revenue growth of the global prurigo nodularis treatment market. Furthermore, increasing research for developing novel therapies for prurigo nodularis, advancements in medical technology, and improved awareness of prurigo nodularis among patients and healthcare providers contribute to the market’s revenue growth rate.
Growth Plus Reports has analyzed the global prurigo nodularis treatment market from four perspectives: Product, Distribution Channel, and Region.
Product Segmentation: Based on the product, the global prurigo nodularis treatment market is segmented into antihistamines, corticosteroids, capsaicin cream, emollients, and others. The corticosteroids segment dominates the market with the largest revenue share because they are very effective in minimizing inflammation and itching associated with prurigo nodularis, and they are frequently used as first-line treatment for mild to severe cases.
Distribution Channel Segmentation: Based on the distribution channel, the global prurigo nodularis treatment market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies. The retail pharmacies segment dominates the market because retail pharmacies are easily accessible to patients and provide a convenient option for patients to purchase medications prescribed by their healthcare providers.
Regional Growth Dynamics
Based on the region, the global prurigo nodularis treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the global prurigo nodularis treatment market with the largest revenue share. The dominance of North America can be attributed to the increased prevalence of prurigo nodularis, increased awareness of prurigo nodularis among healthcare providers and patients, increased diagnosis rates and demand for treatments, a well-developed healthcare infrastructure, development of new prurigo nodularis treatments, a growing preference for topical prurigo nodularis treatments, and increased investment in research and development of new prurigo nodularis treatments.
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The prominent players in the global prurigo nodularis treatment market are:
- Bayer AG
- Merck & Co. Inc.
- Pfizer, Inc.
- GlaxoSmithKline Plc.
- Teva Pharmaceutical Industries Ltd.
- Johnson & Johnson
- Sanofi SA
- Takeda Pharmaceutical Company Limited
- Novartis AG
- Celgene Corporation
The prurigo nodularis treatment market is extremely competitive, with many players involved. Market leaders increasingly use mergers, collaborations, and acquisitions to increase their market share and launch new drugs and products.
- Regeneron Pharmaceuticals, Inc. and Sanofi obtained FDA approval for Dupixent (dupilumab) to treat adult patients with prurigo nodularis in September 2022. With its approval, Dupixent became the first and only drug in the United States that was specifically indicated to treat prurigo nodularis.
- Trevi Therapeutics, Inc. announced a good outcome from Haduvio’s Phase 2b/3 Pruritus Relief via Itch-Scratch Modulation (PRISM) study in treating prurigo nodularis in June 2022.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- MARKET DYNAMICS
- GLOBAL PRURIGO NODULARIS TREATMENT MARKET – ANALYSIS & FORECAST, BY PRODUCT
- Capsaicin Cream
- GLOBAL PRURIGO NODULARIS TREATMENT MARKET – ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
PRURIGO NODULARIS TREATMENT MARKET TOC
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