February 23, 2024
Pruritus Therapeutics Market

Pruritus Therapeutics Market is Expected to be Flourished by Growing Itch Population

The pruritus therapeutics market include pharmaceutical drugs targeting neurological systems or directly responsible for itching. Some common pruritus therapeutics used for treating itching associated with dry skin conditions, skin inflammation and infections include antihistamines, corticosteroids, antibiotics, calcineurin inhibitors, and immunomodulators. Pruritus is commonly associated with dermatological disorders like atopic dermatitis and psoriasis. The global prevalence of these conditions and their impact on quality of life has driven significant research efforts towards developing novel and effective pruritus therapeutics. Pharmaceutical companies are focusing on molecular targets and innovative drug delivery methods to relief itching in chronic conditions without systemic side effects.

The global pruritus therapeutics market is estimated to be valued at US$ 70.64 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The growing prevalence of pruritic dermatological conditions is a key factor driving the pruritus therapeutics market. According to recent estimates, over 300 million people globally suffer from atopic dermatitis, which is one of the most common causes of chronic itching. Furthermore, the market is witnessing growing adoption of combination therapy approaches involving immunomodulators and biologics to treat severe or recalcitrant cases of pruritus. Major pharmaceutical companies are focusing on development of novel neuromodulators and antibodies targeting proteins involved in itch transmission with the objective of developing safer and effective therapies for chronic itch complaints. For instance, Novartis is currently evaluating a sodium channel blocker for treating cholestatic pruritus while other potential molecular targets in clinical trials include cytokines, kinin receptors and proteases. With rising healthcare expenditure on managing dermatological diseases and growing awareness, the pruritus therapeutics market is expected to witness significant growth over the forecast period.

Segment Analysis
The pruritus therapeutics market size is segmented by route of administration into topical, oral, and parenteral. The topical segment accounts for the largest market share as it is the most widely used route of administration for pruritus. Topical therapies are easily available, provide quick relief from itching, and have negligible systemic side effects. Within the topical segment, creams and ointments dominate the market due to their superior efficacy and easy application on the skin.

PEST Analysis
Political: Government regulations around drug approval processes influence the market. Stringent approval times by regulatory bodies can delay market entry of new drugs.

Economic: Rising healthcare spending globally is driving market growth. The increasing disposable income allows people to spend more on expensive biologic therapies. However, the high cost of biologics remains a challenge.

Social: Growing awareness about various skin conditions and available treatment options is supporting the market. Patients are increasingly seeking prescription medications to get long-lasting relief from severe itching.

Technological: Advances in drug delivery technologies are expanding treatment opportunities. Novel formulations such as topical patch systems provide sustained drug release for better symptom management. Research into biologics and small molecule pathways also holds potential.

Key Takeaways
The global Pruritus Therapeutics market is expected to witness high growth during the forecast period 2023-2030.

North America is expected to dominate the market throughout the forecast period. The surge is attributed to developed healthcare infrastructure, high adoption of innovative therapeutics, and presence of major market players in the region.
Asia Pacific region is anticipated to witness fastest growth over the forecast period backed by increasing awareness regarding availability of treatment options for pruritic conditions coupled with rising healthcare expenditure in emerging countries like India and China.

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. Major players are focused on new product launches and expansion of regional presence to strengthen their market positions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it