Pruritus, commonly known as itch, is an abnormal sensation that causes the desire to scratch. Several medical conditions can result in itching such as atopic dermatitis, psoriasis, kidney disease, liver disease, infections and cancer. There are various prescription and over-the-counter medications available for treating itch including topical corticosteroids, emollients, antihistamines, hypnotics, antidepressants and immunotherapies. Topical agents are often preferred as first-line treatment owing to their localized effect and fewer systemic adverse effects. Increasing prevalence of itch-related diseases and growing demand for innovative drugs and therapies provide a huge potential for growth of pruritus therapeutics market.
The Global Pruritus Therapeutics Market is estimated to be valued at US$ 81.38 Mn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Pruritus Therapeutics are Levantina, Polycor, Indian Natural Stones, Topalidis, Dermitzakis, Antolini, Amso, Pakistan Onyx Marble & Granite, Etgran, Mumal Marbles, Tepia, Arizona Tile, Vetter Stone, Tekmarble & Granite, Temerty Stone, Dal Tile, M S International, Pokarna Limited, Cosentino.
The growing prevalence of chronic pruritic conditions such as atopic dermatitis and psoriasis is expected to drive the demand for therapeutics. It is estimated that around 25% of adults and 30% of children worldwide suffer from atopic dermatitis.
Pharmaceutical companies are focused on expanding their presence in emerging markets of Asia Pacific, Latin America, and Middle East & Africa owing to high unmet needs and increasing healthcare expenditure in these regions.
Market Key Trends
Innovation in itch management is a key trend in pruritus therapeutics market. Many companies are engaged in development of novel formulations, drug delivery technologies and disease targeting approaches. For example, companies are developing neurokinin-1 receptor antagonists, cannabinoid receptor agonists and itch-specific nanoparticles to enhance targeted delivery of anti-itch agents. Such new modalities have the potential to significantly improve efficacy and compliance over conventional remedies. Increasing focus on developing biologics for chronic pruritic conditions like atopic dermatitis also presents exciting opportunities over the forecast period.
Porter's Analysis
Threat of new entrants: The biopharmaceutical industry requires high capital investment in research and development which poses high entry barriers for new companies.
Bargaining power of buyers: The bargaining power of buyers is moderate since many alternative treatment options are available for pruritus.
Bargaining power of suppliers: The bargaining power of suppliers in the pharma industry is low as suppliers usually cater to large customer base with various products.
Threat of new substitutes: The threat of substitutes is moderate as alternative drugs can be developed for the treatment of pruritus.
Competitive rivalry: The competition in the pruritus therapeutics market is high between existing key players due to extensive R&D activities and product launches.
Geographical Regions with High Market Value
North America dominates the Pruritus Therapeutics Market Size in terms of value owing to high healthcare expenditure and presence of major players. The US contributes largest revenue share due to rising prevalence of atopic dermatitis and availability of treatment options.
Europe is the second largest market due to increasing research activities for novel drugs and supportive regulatory environment for drug approvals.
Fastest Growing Geographical Region
Asia Pacific region exhibits fastest growth for pruritus therapeutics market during the forecast period. Rising geriatric population, improving healthcare infrastructure and changing lifestyle conditions are mainly boosting the regional market growth. In addition, emerging economies like China and India provide lucrative opportunities for market players due to increasing patient pool suffering from atopic dermatitis.
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