The 2023 report on the “Pruritus Therapeutics Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Pruritus Therapeutics Market is valued at approximately USD 7.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3.6% over the forecast period 2022-2029. Pruritus is a medical term for itchy skin. Most of the itchy skin conditions are associated with Dry skin, allergies, and underlying Skin disease. Moreover, certain types of pruritus are associated with various diseases including cancer, diabetes, HIV, liver & gallbladder diseases among others.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
This condition can be treated using oral treatments. The increasing prevalence of skin diseases worldwide and growing emergence of e-pharmacy as well as strategic initiatives from leading market players are key factors accelerating the market growth.
The increasing incidences of skin disorders such as Atopic Dermatitis, Allergic Contact Dermatitis, Urticaria are contributing to the growth of the Global Pruritus Market. For instance, according to the National Center for Biotechnology Information (NCBI) – as of 2019, in Europe about 20% of the general population is affected by contact allergies.
Moreover, as per World Allergy Organization – as of 2020, globally contact dermatitis accounts for approximately 85 – 95% of all occupational skin diseases in industrialized countries and contributes to an estimated 5.7 million physician visits per year. Also, growing healthcare infrastructure in developing regions and rising number of geriatric individuals would create a lucrative growth prospectus for the market over the forecast period. However, lack of awareness towards underlying disease stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Pruritus Therapeutics Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to growing prevalence of skin disorders as well as presence of leading pharmaceutical companies in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising geriatric population and rising expansion of pharmaceutical sector in the region.
Major market players included in this report are:
AbbVie Inc.
Amgen Inc.
Bausch Health Companies Inc.
Cara therapeutics, Inc.
Cipla Ltd.
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Eilly Lilly and company
Evelo Biosciences
Galderma S.A.
LEO Pharma
MC2 therapeuitics
Recent Developments in the Market:
In August 2021, Cara Therapeutics received FDA approval for its (CARA.O) drug to treat moderate-to-severe itching in patients undergoing dialysis with chronic kidney disease.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Drug Type
Corticosteroids
Antihistamines
Local Anesthetics
Immunosuppressant
Others
By Disease Type
Atopic Dermatitis
Allergic Contact Dermatitis
Urticaria
Others
By Distribution Channel
Hospital Pharmacies
Drug stores & Retail Pharmacies
Online providers
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Some of the Key Questions Answered in this Report:
Market dimension: What is the size of the market at the regional and country level?
Drivers, restraints, opportunities, and challenges: What are the key factors influencing the market and how are they expected to impact it?
International revenue, manufacturing value, consumption value, import and export: What is the economic value and trade dynamics of the market across different regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa)?
Key producers and their working state of affairs: Who are the leading manufacturers in the market industry and what is their current capacity, production, sales, pricing, costs, gross, and revenue?
Possibilities and threats for market carriers: What opportunities and challenges are faced by the vendors in the global market industry?
Incremental growth prospects for application/end-users and product types: Which specific applications or product types are expected to experience growth opportunities? What is the market share of each type and application?
Targeted strategies and constraints: What strategies are being implemented and what constraints are affecting the market?
Sales, marketing, and distribution channels: What are the different channels used for sales, marketing, and distribution in the global industry?
Upstream raw materials, production equipment, and manufacturing process: What are the raw materials, production equipment, and manufacturing processes involved in the market?
Key market trends: What are the significant trends impacting the growth of the market?
Economic impact and development trends: How does the market industry impact the economy, and what are the development trends within the market?
Overall, the report provides comprehensive insights into the market’s size, drivers, challenges, key players, opportunities, trends, and economic impact, offering a holistic understanding of the market industry.
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