Portland, OR, Sept. 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pruritus therapeutics market generated $7.9 billion in 2021 and is estimated to hit $11.2 billion by 2031, registering a CAGR of 3.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $7.9 billion |
| Market Size in 2031 | $11.2 billion |
| CAGR | 3.6% |
| No. of Pages in Report | 385 |
| Segments covered | Drug Type, Disease Type, Distribution Channel, and Region |
| Drivers | Investment in R&D to create innovative pruritus therapies and advance the existing therapeutics |
| High demand for over-the-counter topical treatments | |
| Launching new medications and building a strong product pipeline | |
| Opportunities | Patent expiry of various pruritus therapeutic products |
| Recent developments in diagnosis of pathophysiology of pruritus | |
| Restraints | Lack of knowledge regarding cause of the disease |
Covid-19 scenario-
- The Covid-19 outbreak had a moderate impact on the growth of the global pruritus therapeutics market.
- Consumer demand for pruritus therapeutics slightly decreased as people focused more on reducing non-essential expenses from their budgets as the economic condition of majority of people was adversely impacted by the pandemic.
- Urticaria was one of the most prevalent skin symptoms observed in COVID-19 patients. Due to this indication, the pandemic provided an opportunity for an increase the sales of pruritus products, keeping the market growth at a steady level.
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The report offers detailed segmentation of the global pruritus therapeutics market based on drug type, disease type, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on drug type, the corticosteroids segment accounted for around one-third of the overall pruritus therapeutics market in 2021, and is projected to lead the trail by the end of 2031. The same segment would cite the fastest CAGR of 4.4% throughout the forecast period. The report also discusses antihistamines, local anesthetics, immunosuppressant, and other segments.
Based on disease type, the atopic dermatitis segment contributed to nearly half of the global pruritus therapeutics market in 2021, and is expected to maintain its dominance through 2031. The others segment, on the other hand, would grow at the fastest CAGR of 4.2% from 2022 to 2031. The report also discusses the allergic contact dermatitis and urticaria segments.
Based on distribution channel, the drug stores & retail pharmacies segment captured the largest share of more than three-fifths of the global pruritus therapeutics market in 2021, and is likely to exhibit a noteworthy growth during the forecast period. Nonetheless, the online providers segment would grow at the highest CAGR of 5.5% from 2022 to 2031. The report also analyzes the hospital pharmacies segment.
Based on region, the market across North America contributed to nearly two-fifths of the total pruritus therapeutics market in 2021, and is expected to maintain its dominance during the forecast period. The Asia-Pacific region, on the other hand, would grow at the fastest CAGR of 4.7% from 2022 to 2031. The other two provinces discussed in the report include Europe and LAMEA.
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The key market players analyzed in the global pruritus therapeutics market report include AbbVie Inc., Amgen Inc., Bausch Health Companies Inc., Caratherapeutics, Inc., Cipla Ltd., Eilly Lilly and Company, Evelo Bioscience, Galderma S.A., LEO Pharma, MC2 Therapeuitics, Novan Inc., Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals, Inc., Sanofi, Trevi therapeutics and Viatris Inc.
The report analyzes these key players of the global pruritus therapeutics market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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