Pruritus therapeutics products like antihistamines, corticosteroids, local anesthetics, counterirritants, emollients and others are used for the management and treatment of itching caused due to various skin diseases, allergies and other conditions. The use of these products provides relief from chronic and acute itching or pruritus. The need for effective pruritus therapeutics is rising due to increasing prevalence of pruritic conditions like atopic dermatitis, urticaria, eczema, scabies and other infestations.
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 key players are mainly focused on developing generics and novel formulations of antihistamines and corticosteroids to increase their market share.
The rising prevalence of chronic pruritic conditions and increasing research for development of biologic therapies provides significant opportunities in the Pruritus Therapeutics Market Demand. Growing acceptance of biologics and demand for safe and efficacious drugs for management of severe itching is estimated to contribute to market growth over the forecast period.
Asia Pacific region is estimated to witness fastest growth in the pruritus therapeutics market owing to rising geriatric population, increasing healthcare expenditures and high patient population. In addition, growing acceptance of topical and biologic therapies in the region further raises the demand for products in the pruritus therapeutics market.
Market drivers
Increasing cases of atopic dermatitis and other chronic skin diseases drives the pruritus therapeutics market. According to recent estimates, atopic dermatitis affects over 10% of children and 1-3% of adults globally. The intense itching associated with these conditions increases the demand for antipruritic therapies. Rising awareness regarding available treatment options also boosts the adoption of prescription and OTC antipruritic drugs and devices.
PEST Analysis
Political: Healthcare reforms in several countries have made treatment of skin conditions more accessible. Government initiatives have also supported R&D in this sector.
Economic: Rising income levels have increased healthcare spending globally. Expanding health insurance coverage has lowered out-of-pocket costs for patients.
Social: Growing awareness about various skin conditions and their treatment options. Changing lifestyle factors have contributed to higher incidence rates of conditions like eczema and psoriasis.
Technological: Adoption of novel drug delivery mechanisms and biologic therapies has provided better treatment outcomes. Use of digital health tools for remote monitoring and diagnosis.
North America holds the largest share of the global market currently, led by the US. This is due to the high incidence of chronic pruritic conditions, rising healthcare spending, and presence of major market players. Asia Pacific is poised to grow at the fastest rate during the forecast period. China and India have a huge patient population suffering from pruritic conditions. Rising incomes and emergence of localized manufacturing will further support market growth in the Asia Pacific region.
Europe also has a significant share owing to the availability of advanced treatment options and favorable reimbursement policies. However, market growth is anticipated to be higher in developing regions due to increasing disease awareness, improving access to care, and healthcare infrastructure development projects underway. Overall, global demand for effective pruritus therapeutics will remain robust over the next decade driven by the growing global disease burden and expanding treatment-seeking rates worldwide.
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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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