New York, June 08, 2022 (GLOBE NEWSWIRE) -- One of the essential elements predicted to drive the cutaneous fibrosis treatment market over the coming years is the rising incidence of cutaneous fibrosis conditions such as systemic sclerosis and keloids, which has led to an increase in clinical trials for developing new therapies for treatment. The global cutaneous fibrosis therapy market growth was worth US$ 574.4 Mn in 2021 and it is expected to increase at a CAGR of 6.8% over the forecast period (2022-2032).
Although illnesses such as keloid, scleroderma, radiation-induced skin fibrosis, and chronic graft-versus-host disease-associated (GVHD) are common, there is less knowledge regarding the therapeutic options for cutaneous fibrosis associated with these diseases. Various firms and healthcare professionals are putting forth a lot of effort to address this low level of awareness.
- According to the U.S. CDC, almost 75,000 people in the country suffer from systemic scleroderma.
Several environmental factors play a key role in the occurrence of systemic scleroderma, with the European region projecting high prevalence rates, following the U.S. Greater awareness of the disease and associated indications assist with augmenting diagnosis rates, which is then followed by enhanced treatment-seeking rates.
Request for sample copy of report: https://www.persistencemarketresearch.com/samples/33114
For the treatment of cutaneous fibrosis, several pharmaceutical companies are testing an array of pharmacological compounds, including biologics. A few key players are already testing pharmacological compounds for the treatment of cutaneous fibrosis, while others are waiting for regulatory authorizations to begin with the clinical assessments of their products.
Likewise, the development of many different targeted biologics and small molecule combination therapies have been introduced in recent years, which is driving the cutaneous fibrosis treatment market.
Key Takeaways from Market Study
- By drug class, immunotherapy drugs are expected to hold 45.6% market value share by the end of 2032.
- Oral route of administration is leading with 68.2% market share in 2021.
- Scleroderma dominated the market by indication with a share of around 63.4% in 2021.
- By distribution channel, retail pharmacies are expected to be the most lucrative segment with a value share expected to reach 47% by 2032.
- North America is set to be the leading region with a projected value share of 37.4% by 2032.
Get customized report as per requirement: https://www.persistencemarketresearch.com/request-customization/33114
“Rising prevalence of skin diseases and increasing awareness regarding cutaneous fibrosis treatments are set to propel the growth of the global cutaneous fibrosis treatment market,” says an analyst of Persistence Market Research.
Market Competition
Manufacturers and key competitors in the cutaneous fibrosis treatment market employ a variety of key promotional strategies. Acquisition is a widely-used primary marketing approach, as it allows companies to assist patients with their specific disease indications by expediting innovation and driving productivity.
Novartis and Galapagos and MorphoSys signed an exclusive license agreement in July 2018 for MOR106, an experimental biologic drug that is a new antibody aimed against IL-17C.
- In March 2022, Pfizer Inc. signed an agreement for the acquisition of Arena Pharmaceuticals, a company that develops innovative potential therapies for the treatment of immune-inflammatory diseases.
- In March 2019, the European Commission approved Roche’s “MabThera” (rituximab) for a rare autoimmune disease.
- In October 2021, Amgen completed its acquisition of Teneobio, Inc. This acquisition helped in advancing R&D activities to develop highly innovative products for patients.
Get full access of report: https://www.persistencemarketresearch.com/checkout/33114
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the cutaneous fibrosis treatment market in its latest study, presenting historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on the- drug class (corticosteroids, anti-fibrotic drugs, immunotherapy, and immunoglobulins) route of administration (oral, injectable, and topical), indication (keloid, scleroderma, radiation-induced skin fibrosis, and chronic graft-versus-host disease (GvHD)-associated cutaneous fibrosis), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, and online pharmacies), across seven key regions of the world.
Trending Related Reports:
- Home Care Services Market
- Soft Tissue Repair Market
- Oligonucleotide Synthesis Market
- Cardiac Arrhythmia Monitoring Devices Market
- Photodynamic Therapy Market
- Medical Image Analysis Software Market
- Hemodynamic Monitoring Systems Market
- Orthopedic Veterinary Implants Market
- Rheumatoid Arthritis Market
About Persistence Market Research:
Persistence Market Research (PMR), as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Overview:
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
