According to the latest report published by Future Market Insights titled ‘Prurigo Nodularis Treatment Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028’, the global prurigo nodularis treatment market is poised to expand at 3.4% compound annual growth rate (CAGR) over the 2018–2028 forecast period.
The global market for prurigo nodularis treatments is expected to reach a valuation of $697.9m by the end of 2028, attesting one of the highest growth rates in the Middle East and Africa, which is expected to expand at 4.8% CAGR over the 2018–2028 period.
Factors influencing growth in the global prurigo nodularis treatment market
Favourable regulations and initiatives for orphan drug development in various regions are expected to fuel the market for prurigo nodularis treatments in the near future.
The rapidly developing healthcare infrastructure and increasing awareness programmes in the highly populated regions of the Asia Pacific and China are expected to play important roles in driving revenue growth.
Segmental insights into the global prurigo nodularis treatment market
The global prurigo nodularis treatment market has been segmented on the basis of product type, distribution channel and region.
Prurigo nodularis treatment product types include corticosteroids, emollients, capsaicin creams and antihistamines.
Globally, capsaicin creams are the most attractive form among the different product types. Among all distribution channels of prurigo nodularis treatments, retail pharmacies are anticipated to be the most lucrative, followed by hospital pharmacies.
Global prurigo nodularis treatment market regional highlights
Western Europe dominated the global prurigo nodularis treatment market in 2017, partly due to the presence of leading market players and key research and development initiatives taken by governments in the region.
In developing regions such as Latin America, advanced medical facilities are helping the region cope with the current healthcare crisis. North America is the second largest regional market for prurigo nodularis treatment and is expected to be valued at $75.6m by 2028, with the markets in the US and Canada growing at a faster rate.
Eastern Europe is projected to be the third largest market for prurigo nodularis treatments.
Key research findings
Key findings of the research include:
Global prurigo nodularis treatment market vendor insights
The global market for prurigo nodularis treatment is highly competitive with many players operating in the global market.
Some of the companies identified in the global prurigo nodularis treatment market include Bayer, Pfizer, GlaxoSmithKline, Teva Pharmaceutical Industries, Johnson & Johnson Services, Merck & Co, Sanofi and Takeda Pharmaceutical Company.
To increase market coverage, companies are focusing on building close collaborations with local distributors as these partnerships allow firms to grow and expand in the global market.
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