Increasing Prevalence of Dermatological Disorders will drive the global pruritus therapeutics market

calendar_today 01 December, 2022 person_outline Growth Plus Reports

According to the deep-dive market assessment study conducted by Growth+ Reports, the global pruritus therapeutics market was pegged at ~US$ 4.22billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of ~5.1 % from 2022 to 2030.

The global market for pruritus therapies is anticipated to expand as a result of the rise in dermatitis and allergic illnesses. For Instance, a 2020 article in the Indian Journal of Dermatology reported that dermatitis accounted for 24.5% of all cases of allergic skin disorders, making it the most prevalent subgroup of hypersensitivity diseases. The most frequently identified skin condition in the dermatitis category of disorders was determined to be contact dermatitis (17.54% of the total).

The expansion of the global pruritus therapeutics market is also anticipated to be aided by the rising number of product releases and approvals. For instance, May 2020, Sanofi, a multinational biopharmaceutical company committed to improving human health. Announced that The U.S. Food and Drug Administration (FDA) has approved Sanofi's Dupixent (dupilumab) for use in children between the ages of 6 and 11 who have moderate-to-severe atopic dermatitis (eczema), with pruritus as one of its primary symptoms. Topical prescription therapies or those that are not recommended do not adequately control this condition in youngsters. For treating eczema with pruritus in this patient population, dupixent is the only biologic drugs that has received approval.

Furthermore, an increase in mergers, collaborations, and acquisitions by industry participants will also propel the growth of the market. For instance, in August 2020, Pharmaceutical company MC2 Therapeutics, which creates topical treatments announced a partnership with EPI Health, LLC to market WYNZORA Cream in the United States. EPI Health is a well-known pharmaceutical company in the dermatology sector. WYNZORA Cream has received approval from the U.S. Food and Drug Administration for the topical treatment of plaque psoriasis, a common cause of adult-onset psoriasis pruritus. These factors are anticipated to promote market expansion for treatments for pruritus. However, some of the primary hurdles to the market's expansion are the lack of a universally acknowledged therapy, associated side effects, and the availability of cutting-edge alternative treatment options like phototherapy.

Another reason boosting the rise of the pruritus therapeutic market share globally is the adoption of novel technology. One of the emerging market trends is the use of cutting-edge technology in the creation of products for the treatment of fungal infections, including pruritus. Abbott's Meltrex technology was used in the creation of Merz Pharmaceuticals' ONMEL, which contains the active ingredient itraconazole. This method allows for the use of drugs that would not normally be well soluble, increasing the drug's bioavailability and effectiveness in tablet form. Thus, Celtic Pharmaceutical is working on the development of TDT-067, a proprietary drug delivery system that uses Transferosomes and the active component terbinafine. Transferosomes were first created by IDEA.

North America is anticipated to hold the highest share of the global pruritus therapeutics market during the forecast period due to the approval of medicines by regulatory agencies for the treatment of pruritus. For instance, in March 2021, For KORSUVA (difelikefalin) injection solution to treat moderate-to-severe pruritus in hemodialysis patients, the U.S. Food and Drug Administration (FDA) accepted and granted Priority Review for the New Drug Application (NDA). Additionally, the expansion of the pruritus therapeutic market in North America throughout the projected period would be aided by the rising prevalence of a number of disorders that cause pruritus, including chronic renal failure, cirrhosis, atopic eczema, psoriasis, and other conditions.

Asia Pacific has emerged as the region with the fastest rate of growth in the pruritus treatments market due to unmet healthcare infrastructure demands, rising rates of atopic dermatitis and urticaria. Moreover, manufacturers can anticipate profitable future growth prospects owing to favourable government measures in nations like Japan and Australia regarding medicine price adjustment and the development of innovative drugs for the treatment of atopic dermatitis and other skin conditions.

Some of the prominent market players in the global pruritus therapeutics market include Cara Therapeutics, AbbVie, Inc., Sanofi Aventis, UCB Pharma, Pfizer, Inc. Amgen, Inc., Actavis Plc, GlaxoSmithKline, Galderma, Chongqing Huapont Pharm Co. Ltd., Bayer AG, UCB Pharma, LEO Pharma, EPI Health, LLC, Galderma Laboratories, LP., Novartis AG, Mc2 Therapeutics A/S among others. These company invests heavily in R&D to create novel treatments that have higher efficacies in an effort to maintain their market dominance. Unmet medical demands are also taken into account when creating new products. The market for pruritus therapies now has a wide range of products in development, and the eventual commercialization of these products is anticipated to fuel global expansion.
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