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Prurigo Nodularis Treatment Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

A10939
Pages: NA
Jun 2021 | 41 Views
 
Author(s) : Onkar Sumant
Tables: NA
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Prurigo Nodularis Treatment Market Outlook - 2027

Prurigo Nodularis is a rare disease that affects a small population. Prurigo Nodularis disease treatment is associated with the skin that leads to development of itchy lumps on skin layer. The severity of itching is so high that the scratching leads to bleeding and further injuries. It can worsen on excessive sweating and temperature in contact with the garments. The symptoms of this disease being rare in nature are very hard to detect, and is characterized by itchy nodules on skin. It is typically found on outer arms, legs and shoulders. The therapeutics for curing the disease include combination therapy comprising of various forms of topical creams and steroids as of now with majority of treatments in development phases. The drugs used in Prurigo Nodularis treatment are termed as orphan drugs. Majority of the rare diseases are genetic in nature accounting for 80%. There are around 7000 variable types of rare diseases.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Products, Distribution Channels and Region

  Regions covered

•             North America (U.S., Canada, Mexico)

•             Europe (France, Germany, UK, Italy, Spain, Rest of Europe)

•             Asia-Pacific (Japan, China, India, Australia, South Korea, Rest          of Asia-Pacific)

•             LAMEA (Brazil, South Arabia, South Africa, Rest of LAMEA)

  Companies covered

Bayer AG, GlaxoSmithKline plc., Pfizer Inc., Teva Pharmaceutical Industries Ltd, Merck & Co. Inc., Johnson & Johnson Services Inc., Sanofi SA, Takeda Pharmaceutical Company Limited


COVID – 19 scenario analysis:

  • The COVID-19 pandemic has emerged as a humanitarian as well as economic crisis, creating strain on the society and affecting millions of people and businesses
  • Industry closures and people are asked to stay in their homes which has cause taken a huge toll in terms of money and economic growth
  • Over 4 million people affected globally, with 300 thousand losing their lives due to SARS-CoV-2
  • Healthcare organizations are already working in battle mode, preparing new plans to respond growing COVID-19 patients, right from sourcing rapid diagnosing kits to sufficient PPE kits for workers
  • Due to diversion of medical field towards treating COVID-19, the funding to R&D activities related to prurigo nodularis treatment has been reduced and this segment have to face negligence subsequently causing negative impact on prurigo nodularis treatment market

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Rising healthcare expenditure to meet the demand for quality of life and growing incidences of rare diseases are key factors driving the prurigo nodularis treatment market growth. The rising demand for better therapeutics, management and preventive medications of Prurigo Nodularis is expected to boost the growth of the market over the forthcoming years. Supportive policies implemented by the government is also favoring prurigo nodularis market. The global market is currently experiencing tremendous demand for topical creams such as capsaicin cream as well as antihistamines that are of clinical importance in prurigo nodularis therapeutics. Extensive research and development activities could set growth trajectory for the development of the global prurigo nodularis treatment market. Furthermore, being rare in nature, a very few cases of this disease have been reported globally. As per the National Institutes of Health (NIH) studies, rare diseases are anticipated to surge in number with the steady but progressive pace of 250 cases annually. Although, mere 5% of these cases have been reported and dealt with as of now. The prurigo nodularis treatment market would be benefitted with this surge in cases of diseases and growth would be ensured by spreading awareness regarding the disease and the treatment.

On the other side, presence of alternative therapeutic options, lack of well-trained medical professionals and poor regulatory framework in under-developed and developing geographies, are the factors that would impede the prurigo nodularis treatment market growth to certain extent.

However, collaborative funding by private entities for transitional projects in the field of prurigo nodularis treatment is expected to create immense avenues for market players in this market.

R&D activities to drive the market

Growing initiatives for discovering a breakthrough therapy in order to treat prurigo nodularis would have significant contribution to the market growth. Collaborative ventures by various non-government organizations, private entities and government authorities allowing adequate funding as well as proper utilization of resources for research and development activities as related to prurigo nodularis treatment would propel the growth. In addition to this, financial support coupled with favoring policies and initiative undertaken by the government for development of better prurigo nodularis treatment, and socio-economic aspects such as growing cases of rare diseases, use of orphan drugs in treatment of rare diseases would soar the market growth in the foreseeable future.

European region dominates the market

Europe is expected to lead the prurigo nodularis treatment throughout. The dominance is due to factors like growing number of favoring initiatives implemented to promote the prurigo nodularis treatment and higher adoption of technology in the region. Additionally, supportive government initiatives for development of treatment of rare diseases stimulating the market growth in this region. Moreover, heavy investment in research and development activities would contribute to this market. Drastic rise in healthcare expenditure and availability of a well-developed infrastructure coupled with presence of major industry players are the other factors fostering the market in the near future.

Key segments:

Segments

Sub-segments

  Product

  • Antihistamines
  • Capsacin Cream
  • Corticosteroids
  • Emollients
  • Others

  Distribution Channel

  • Retail Pharmacies
  • Hospital Pharmacies
  • Online Pharmacies

  Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

                             
Key benefits of the report:

  • This study presents the analytical depiction of the global prurigo nodularis treatment market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global prurigo nodularis treatment market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global prurigo nodularis treatment market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global prurigo nodularis treatment market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Prurigo Nodularis Treatment Market research report:

  • What are the leading market players active in the prurigo nodularis treatment market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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