The global pruritus therapeutics market is witnessing significant growth owing to the rising technological developments in the treatment of pruritus. Pruritus, commonly known as itching, is a distressing sensation that prompts the desire to scratch. It is a very common problem associated with various disease conditions and medical treatments. Effective management of pruritus is challenging as its pathogenesis is complex with involvement of peripheral and central itch pathways. Various systemic and topical treatment approaches are available for managing pruritus depending on the underlying cause.
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 2031.
Key Takeaways
Key players: Key players operating in the pruritus therapeutics market 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.
Key players operating in the pruritus therapeutics market are focusing on R&D to develop novel therapeutics with improved efficacy and safety. For instance, in 2021, Trevi Therapeutics announced positive results from a phase 2/3 trial evaluating its drug candidate nalbuphine ER for pruritus.
Key opportunities: The rising cases of dermatological disorders, chronic kidney disease, malignancies and awareness about available treatment options present significant opportunities in the Pruritus Therapeutics Market Growth. Development of non-invasive treatment approaches would further aid market growth.
Technological advancements: Introduction of novel mechanisms of action like gabanergic, selective itch pathway targeting and monoclonal antibody based therapies present lucrative opportunities.
Market drivers
Growing geriatric population: Ageing is associated with increased prevalence of various diseases causing pruritus like atopic dermatitis, psoriasis, chronic kidney disease, etc. The rising geriatric population worldwide is a major driver of market growth.
Increasing healthcare expenditure: Growing desire to achieve better quality of life and rising investment in R&D by pharmaceutical companies for developing new drugs are expected to fuel the market growth over the forecast period.
Current challenges in Pruritus Therapeutics Market
The pruritus therapeutics market faces various challenges currently. Finding new and more effective drug candidates for the treatment of chronic pruritus conditions like atopic dermatitis and psoriasis is one of the major challenges. These conditions often do not respond well to existing therapies. Another challenge is the lack of understanding about the exact mechanisms and pathways involved in inducing the itch sensation. This hinders the development of targeted and mechanism-based therapies. Adherence to treatment protocols also poses a challenge due to the chronic nature of the diseases and various adverse effects of drugs. High development costs of novel drug molecules and biosimilars also restrict market growth.
SWOT Analysis
Strength: Growing research into the pathophysiology of pruritus and novel targets and molecules. Increasing awareness about available treatment options.
Weakness: Lack of safe and effective therapies for chronic pruritic conditions.higher treatment costs.
Opportunity: Unmet needs in refractory patient populations. Developing user-friendly formulations and combination therapies.
Threats: Patent expiries of blockbuster drugs. biosimilars erosion. regulatory issues in pipeline approvals.
Geographical Regions
North America currently dominates the pruritus therapeutics market in terms of value, owing to growing prevalence of atopic dermatitis and high healthcare spending. The U.S. represents the single largest market due to widespread adoption of new drugs and biologics. Asia Pacific region is expected to witness the fastest growth during the forecast period backed by improving access to healthcare facilities in developing countries. Rising awareness and demand for effective antipruritic therapies also support market growth in Asia.
Fastest Growing Region
The Asia Pacific region is projected to be the fastest growing regional market for pruritus therapeutics during 2024-2031. This is attributable to factors such as the rising burden of chronic dermatological and systemic diseases inducing pruritus in the region. Rapid improvements in healthcares infrastructures and increasing disposable incomes are enhancing access to innovative therapies in Asia Pacific countries. Government initiatives to offer universal healthcare are attractively driving the adoption rates in this region. Favorable regulatory guidelines also support the industry's expansion in Asia Pacific.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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