Global Nodular Prurigo Market – Industry Trends and Forecast to 2030

Global Nodular Prurigo Market, By Product (Antihistamines, Capsaicin Cream, Corticosteroids, Emollients, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2030.

Nodular Prurigo Market Analysis and Size

The increasing demand for orphan drugs for treating rare diseases such as prurigo nodularis is boosting the market's growth. Furthermore, several non-government organizations with the help of different funding mechanisms, lead to transitional projects which enable sufficient financing for the R&D of the market. Several initiatives such as activities and programmes undertaken for growing awareness about rare diseases and available therapeutic options are anticipated to boost the demand for prurigo nodularis treatment.

 Data Bridge Market Research analyses a growth rate in the nodular prurigo market in the forecast period 2023-2030. The expected CAGR of nodular prurigo market is tend to be around 5.8% in the mentioned forecast period. The market is valued at USD 1160.7 million in 2022, and it would grow upto USD 1822.3 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Nodular Prurigo Market Scope and Segmentation

Market Definition

Prurigo nodularis is a type of disease associated to the skin which causes itchy lumps on the skin. The itching turns to be so serious that it leads to scratches and bleeding, mainly categorized as the rare disease. The treatment for these rare disease is termed as prurigo nodularis treatment. It can get adverse when comes in contact with clothes and the common symptom associated with this disease is itchy nodules on the skin. It can be found on outer arms, legs and shoulders.

Nodular Prurigo Market Dynamics

Drivers

• Increasing Favourable Regulations Towards the Treatment Process

Regulatory bodies are persistently trying to create favourable outcomes for developing and commercializing orphan drugs serving patients suffering from rare diseases. These regulations help to accelerate the development and approval process of drugs under investigation. For instance, the U.S. FDA has dedicated Orphan Products Development (OOPD) office to improve the assessment and development of products which involves biologics, drugs, medical food and devices. Therefore, these favourable regulations for the huge development of orphan drugs are anticipated to increase the demand for prurigo nodularis treatment market.

• Rising Demand of Capsaicin Cream

Capsaicin cream results for more than 40% of the global share among the different drug class through the forecast period 2023-2030. This is because of the growing demand for topical drugs that are very easy to apply and highly effective therefore capsaicin cream helps to increase the prurigo nodularis treatment market.

Opportunities

• Huge Adaptation of Emollients

Emollients has several advantages such as effectively soothing and healing dry skin by emollients. Growing incidence of prurigo nodularis has increased the demand for effective medications for better and faster outcomes. These medicines are very helpful in making the skin look better and healthy. This as a result, increases the demand for the market.

• Increasing Demand of Retail Pharmacies

The easy and flexible regulatory guidelines for orphan drugs that are used in the treatment of prurigo nodularis is anticipated to increase the demand for prurigo nodularis treatment market during the forecast period 2023-2030. Retail pharmacies with the well-emerged supply chain activities for trading across borders is the top distribution channel for prurigo nodularis treatment market. Whereas, with the growing adaption of e-commerce activities, online pharmacies will witness high growth rate in the upcoming decade.

 Restraints/Challenges

• Less Awareness About the Disease and Its Associated Complications

There is considerably less awareness about rare diseases such as prurigo nodularis and its therapeutic options that are available which pose a hindrance to the market growth. Also, the poor economic conditions and healthcare infrastructure impedes the adoption of prurigo nodularis treatment in several countries. The huge dependency on developed countries for raw materials, drug, skilled labour and advanced technology therapeutics limits the market growth.

This nodular prurigo market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the nodular prurigo market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In 2021, NANOBIOTIX announced a new collaboration agreement secured by Curadigm.  NANOBIOTIX is a clinical-stage biotechnology company is primarily focused on developing first-in-class product candidates which use proprietary nanotechnology to transform cancer treatment.
• In 2021, Takeda Pharmaceutical Company Limited announced partnership with Enzyre to increase the development of Enzyre’s proprietary platform Enzypad that will enable patients to test their blood coagulation at homes.
• In 2021, Teva Pharmaceuticals announced the launch of its generic version of once-daily SOOLANTRA (ivermectin) Cream, 1% for the treatment of rosacea inflammatory lesions in the U.S
• In 2020, Johnson & Johnson announced the completion of its all-cash acquisition of Momenta Pharmaceuticals, Inc. It is a company which discovers and manufactures novel therapies for immune-mediated diseases, for around $6.5 billion.

Global Nodular Prurigo Market Scope

The nodular prurigo market is segmented on the basis of product, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Antihistamines
• Capsaicin Cream
• Corticosteroids
• Emollients
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Nodular Prurigo Market Regional Analysis/Insights

The nodular prurigo market is analyzed and market size insights and trends are provided by product, end-users and distribution channel as referenced above.

The major countries covered in the nodular prurigo market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America has been witnessing a positive growth for nodular prurigo market throughout the forecasted period because of the increase in the presence of major market players, rise in the R&D expenditure, rise in the focus on product innovation, and huge incidence of dermatological diseases in this region.

Asia-Pacific dominates the market because of the growing prevalence of prurigo nodularis and the development of many major regional companies. The increasing burden of chronic diseases among the aged population has improved the industry in the region. 

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Nodular Prurigo Market Share Analysis

The nodular prurigo market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to nodular prurigo market

Key players operating in the nodular prurigo market include:

• Johnson & Johnson Services, Inc. (U.S.)
• Teva Pharmaceutical Industries Ltd (Israel)
• Pfizer Inc (U.S.)
• Hikma Pharmaceuticals PLC (U.K.)
• Takeda Pharmaceutical Company Limited (Japan)
• Bayer AG (Germany)
• Merck & Co., Inc. (U.S.)
• Sanofi (France)
• GSK plc (U.K.)
• BRISTOL-MYERS SQUIBB COMPANY (U.S.)
• GALDERMA LABORATORIES, L.P. (U.S.)
• Mayne Pharma Group Limited (Australia)
• VYNE Therapeutics Inc. (U.S.)
• Trevi Therapeutics (U.S.)