NEW YORK, May 8, 2019 /PRNewswire/ -- Globally and especially in developed countries the clinical trials for developing novel therapy for the cutaneous fibrosis are on the rise which is expected to arrive in market soon. This is one of the important factor that is expected to fuel the growth of the cutaneous fibrosis treatment market overh the forecast period.
According to the latest research by the company, the global cutaneous fibrosis treatment market is projected to account for a market value of US$ 771.4 Mn by the end of 2026. The report also projects significant growth potential for the cutaneous fibrosis treatment market throughout the forecast period.
The prevalence of the conditions such as keloid and scleroderma is comparatively more but very little awareness is spread about the treatment options for cutaneous fibrosis associated with above diseases. To overcome this state of comparatively low awareness various manufacturers, healthcare professionals are making an extended effort.
Prevalence of the keloids is specifically very high in African countries but as the fibrosis occur in the wound healing, many people tend to ignore it as no major pain or irritation occurs. Increasing awareness in turn helping to enhance the diagnosis rate followed by treatment seeking rate in the cutaneous fibrosis treatment market.
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Various pharmaceutical manufacturers are evaluating different drug molecules for the treatment of cutaneous fibrosis. A few manufacturers are already evaluating drug molecules for the treatment of cutaneous fibrosis, and a few are seeking approvals from regulatory bodies for commencing clinical trials. miRagen Therapeutics, Inc. is currently evaluating a molecule named REMLARSEN (MRG-20) for the treatment of the cutaneous fibrosis and it is currently in phase 2 of the clinical trials.
The global cutaneous fibrosis treatment market based on drug class, route of administration, indication, distribution channel, and region.
- In terms of revenue, the immunotherapy segment by drug class in the cutaneous fibrosis treatment market is expected to be the dominant segment over the forecast period.
- By route of administration, the oral segment in the cutaneous fibrosis treatment market is expected to be the most lucrative segment during the forecast period.
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- By indication, the scleroderma segment in the cutaneous fibrosis treatment market is expected to hold a significant share over the forecast period.
- By distribution channel, the retail pharmacies segment is expected to be the most lucrative segment in the cutaneous fibrosis treatment market.
- By region, the North America cutaneous fibrosis treatment market is among the most lucrative region in the global cutaneous fibrosis treatment market.
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The diagnosed and undiagnosed prevalence of the cutaneous fibrosis varies greatly in developing and developed world and it is the most important factor in terms of the cutaneous fibrosis treatment market growth. The undiagnosed prevalence of the keloids is reasonably high in the regions such as Middle East & Africa, some part of the Asia-Pacific. The high number of trauma injuries in these two regions often responsible for the high prevalence of the keloids.
Non-spreading keloids are generally not harmful but keloids which spread need medical attention as they represent significant risk of developing cutaneous fibrosis and further may affect the internal organs which may lead to systemic fibrosis. Increasing prevalence of the conditions such as keloids, scleroderma, Graft Versus Host Disease, Radiation Induced Fibrosis further represents significant revenue generation opportunity in the cutaneous fibrosis treatment market in the near future.
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The report also profiles some of the key companies operating in the cutaneous fibrosis market, such as Novartis AG, Pfizer Inc., Genentech, Inc. (Merck & Co. Inc.), Sanofi S.A., Boehringer Ingelheim International GmbH, Jubilant Cadista, Horizon Pharma USA, Inc., and Bristol-Myers Squibb Company.
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