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% CAGR over the forecast period of 2018–2028. The global market for prurigo nodularis treatment is expected to reach a valuation of US$ 697.9 Mn by 2028 end, attesting the highest growth rate by Middle East & Africa, which is expected to expand at 4.8% CAGR over 2018–2028.
Global Prurigo Nodularis Treatment Market: Factors Influencing Growth
Favourable regulations and initiatives for orphan drug development in various regions is expected to fuel the market for prurigo nodularis treatment in the near future. The rapidly developing healthcare infrastructure and increasing awareness programmes in the highly populated regions of Asia Pacific and China is expected to play an important role in driving revenue growth of the global prurigo nodularis treatment market.
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Global Prurigo Nodularis Treatment Market: Segmental Insights
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, capsacin cream, antihistamines and others. Globally, capsacin cream under the product type segment stands the most attractive product form amongst the different product types. Among all distribution channels of prurigo nodularis treatment, retail pharmacies are anticipated to be the most lucrative distribution channel followed by hospital pharmacies.
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Global Prurigo Nodularis Treatment Market: Regional Highlights
With nearly 40% – 45% market share, 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. Moreover, 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 US$ 75.6 Mn by 2028, with the markets in U.S.A and Canada growing at a faster rate. Eastern Europe is projected to be the third largest market for prurigo nodularis treatment.
Key Research Findings
- The global prurigo nodularis treatment market is expected to create incremental opportunity of US$ 197.9 Mn between 2018 and 2028
- The prurigo nodularis treatment market is expected to witness fast and steady growth, partly due to the rising government support across various regions and increasing demand for prurigo nodularis treatment across the world.
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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 global prurigo nodularis treatment market are Bayer AG, Pfizer Inc., GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd, Johnson & Johnson Services Inc., Merck & Co. Inc., Sanofi SA, Takeda Pharmaceutical Company Limited and others. In order to increase market coverage, companies are focussing on building close collaborations with local distributers as these partnerships allow firms to grow and expand in the global market.