High target disease prevalence, product launches, increasing strategic developments such as partnerships and agreements, favorable research funding scenario, and drug development pressure on pharmaceuticals due to upcoming patent expiries are key factors contributing to high CAGR of Pruritus Therapeutics during forecast period.
According to the current analysis of Reports and Data, the global Pruritus Therapeutics market was valued at USD 11.09 Billion in 2018 and is expected to reach USD 17.99 Billion by year 2026, at a CAGR of 6.2 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 2019-2026.
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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 2018, 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.
- Key participants include Allergan, Astellas Pharma, Bristol-Myers Squibb, Cipla, Eli Lilly, GlaxoSmithKline, Merck, Novartis, Pfizer, and Sanofi.
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; 2016–2026)
- Local Anesthetics
- Calcineurin Inhibitors
Disease Type (Revenue, USD Million; 2016–2026)
- Skin conditions
- Atopic Dermatitis
- Allergic Contact Dermatitis
- Internal diseases
- Nerve disorders
- Psychiatric diseases
- Irritation and allergic reactions
Treatment Type (Revenue, USD Million; 2016–2026)
- Itchy skin treatment
- Corticosteroid creams and ointments
- Other creams and ointments
- Oral medications
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End Use (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
Key Points Covered in the Report:
- Key insights into the latest growth trends, developments, technological and product advancements, and research and development scenario
- Analysis of micro- and macro-economic factors and regulatory framework
- In-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends
- SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the competitive landscape
- Strategic recommendations to established market players and new entrants to overcome limitations and entry-level barriers in the global market landscape
- Analysis of market drivers, restraints, challenges, limitations, threats, growth prospects and opportunities
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