A rare disease is defined as a diseases which affects small population when compared to the general population. Drugs used for the treatment of rare diseases is called as orphan drugs. Prurigo Nodularis treatment is the treatment for a rare diseases called Prurigo Nodularis. More than 80% of rare diseases are of genetic origin. There are approximately 7000 different types of rare diseases. The recognized number of rare disease is expected to rise at a rate of 250 per annum according to the National Institutes of Health. Only 5 % of all rare disease have been addressed so far. Majority of the treatments of rare diseases are currently in research and development.
The report classifies global Prurigo Nodularis Treatment Market by product type, distribution channel and regions.
Market Value and Forecast
The global Prurigo Nodularis Treatment Market is poised to expand at CAGR of 3.4% over the forecast period of 2018–2028 to reach US$ 697.91 Mn by 2028. By Country, U.S. dominated North America Prurigo Nodularis Treatment Market and is expected to be the most lucrative market in the region
Increasing healthcare expenditure and prevalence of rare diseases are the prime factor driving the growth of Prurigo Nodularis Treatment Market. The increasing demand of better treatment of prurigo nodularis is anticipated to drive the growth of the prurigo nodularis treatment market over the forecast period. Growing number of initiatives for prurigo nodularis treatment with the help of various non-government organisations, collaborative funding mechanisms help in transitional projects enabling adequate financing for the research and development of Prurigo Nodularis Treatment market.
In addition, growing development is increasing the demand for prurigo nodularis treatment, coupled with socio-economic factors such as increasing number rare diseases are driving the growth of the market globally.
However, availability of alternative treatment options, dearth of skilled healthcare professionals and lack of regulatory framework in emerging economics, are factors expected to restrain growth of the prurigo nodularis treatment market over the forecast period.
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Market Segmentation by Product Type
Based on product type, global Prurigo Nodularis Treatment Market has been segmented into corticosteroids, emollients, capsacin cream, antihistamines and others. Amongst them, the antihistamines segment is anticipated to register the highest CAGR of 4.9% over the forecast period for the prurigo nodularis treatment market. Capsacin cream segment is expected to register the market share of 49.2% for prurigo nodularis treatment market in 2028.
Market Segmentation by Distribution Channel
Distribution channel of prurigo nodularis treatment covered in this report include hospital pharmacies, retail pharmacies and online pharmacies. The retail pharmacies segment contributed the leading shares, and the trend is expected to continue over the forecast period for prurigo nodularis treatment market. Next to retail pharmacies segment, hospital pharmacies segment also anticipated to occupy the significant market share over the forecast period for prurigo nodularis treatment.
Geographically, global Prurigo Nodularis Treatment Market has been segmented into eight major regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding China and Japan (APEJ), China, Japan and Middle East and Africa (MEA). Globally, in terms of revenue, Western Europe has been estimated to account for the highest share in global Prurigo Nodularis Treatment Market with approximately 40%-45% in 2017 end. Meanwhile, revenue from the market in Middle-East & Africa is expected to expand at the significant CAGR of 4.8% over the forecast period.
However, matured markets such as North America and Western Europe are expected to witness a modest growth in market share due to maturation of the prurigo nodularis treatment market.
Market for prurigo nodularis treatment is highly consolidated with many players’ operating in global market. Some of the key players identified in global Prurigo Nodularis Treatment Market are Bayer AG, Pfizer Inc., GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd, Johnson & Johnson Services Inc., Merck & Co. Inc., Sanofi SA, Takeda Pharmaceutical Company Limited and others. Companies in the global Prurigo Nodularis Treatment Market are focusing on strategic alliances such as strategic agreements, collaborations, rising research and development activities, new product launches, joint ventures, partnerships, and mergers & acquisitions to sustain in the overall competition in the Prurigo Nodularis Treatment Market.
Key Segments Covered
Global Prurigo Nodularis Treatment Market has been segmented on the basis of:
- Product Type
- Distribution Channel
The report analyses global Prurigo Nodularis Treatment Market in terms of value (US$ Mn). Report begins with the market definition and explaining different product types which fall und prurigo nodularis treatment. The market view point section includes FMI’s analysis on key trends, drivers, restraints, opportunities and macro factors influencing global market for prurigo nodularis treatment. Opportunity analysis provided in the section allows client to better equip clients with crystal clear decision making insights.
The report analyses market based on regions and presents the forecast in terms of value for the next 10 years for prurigo nodularis treatment. Regions covered in the report include:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding China and Japan (APECJ)
- Middle East and Africa (MEA)
The next section of report analyses the market based on product type and presents the forecast in terms of value for the next 10 years. Prurigo Nodularis treatment product type covered in the report include:
- Capsacin Cream
The next section of report analyses the market based on distribution channel of the Prurigo Nodularis treatment and provides forecast in terms of value for the next 10 years. On the basis of distribution channel, the Prurigo Nodularis Treatment Market is segmented into:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies