Analysis of the Prurigo Nodularis Therapeutics Market: 2021-2028
Prurigo Nodularis is skin disease that causes hard and itchy lumps on skin, which usually appears on the arms or legs. Prurigo nodularis is a rare disease and currently, the treatment of the disease is still in research and development process. Treatments may include topical, oral, and intralesional corticosteroids; phototherapy; antihistamines; anxiolytics; opiate receptor antagonists; and thalidomide.
Key players are focusing on product approvals to strengthen their position in the global Prurigo nodularis therapeutics market. For instance, in October 2020, Kiniksa Pharmaceuticals, Ltd., a biopharmaceutical company announced that the U.S. Food and Drug Administration has granted Breakthrough Therapy designation to its Vixarelimab drug for the treatment of pruritus associated with prurigo nodularis.
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Thus, COVID-19 pandemic has affected the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets
Moreover, in May 2020, the Government of India announced relief for daily wage workers and construction workers for an amount of US$ 13.3 per person of all states and union territories
Furthermore, the Brazilian government announced the economic assistance to the Brazilian population to fight against the economic crises such as unemployment and others observed in Brazil. According to the Ministry of Economy, Public Banks and the Central Bank, Brazil in March 2020, the Brazil government released the economic stimulus package, which involves the disbursement of funds to the following conditions-
- Salary allowances and salary benefits up to US$ 2.5 billion and US$ 9.2 billion respectively to the individuals suffering from unemployment and financial crisis
- Relaxation in the labor laws to maintain the jobs of common people in Brazil
- Temporary reduction on the TAX
Moreover, the healthcare facilities are taking initiatives to support the COVID-19 vaccination drives in India by focusing on partnership with the Government of India to facilitate the COVID-19 vaccination drive from the Healthcare facilities.
For instance, in January 2021, Amrita Institute of Medical Sciences (AIMS) announced the partnership with Kerala Government, to facilitate the COVID-19 drive in Kerala
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Major players operating in the global prurigo nodularis therapeutics market Bayer AG, GlaxoSmithKline Plc., Johnson & Johnson Services, Inc., Sanofi SA, Takeda Pharmaceutical Company Limited, Novartis AG, Celgene Corporation, VYNE Therapeutics Inc., Trevi Therapeutics Inc., Galderma SA, Pfizer Inc. and Teva Pharmaceutical Industries Ltd., and Merck & Co. Inc.
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