The chronic idiopathic urticaria (CIU) treatment market consists of products used for the management of chronic idiopathic urticaria, which is characterized by the appearance of raised, itchy hives on the skin lasting for more than 6 weeks. Antihistamines are generally used as the first line treatment option for chronic idiopathic urticaria. Second generation antihistamines such as Cetirizine and Loratadine are preferred over first generation antihistamines due to better efficacy and safety profile. In severe cases, low dose oral steroids, leukotriene receptor antagonists, and immunomodulators are used.
The Chronic Idiopathic Urticaria (CIU) treatment market is estimated to be valued at USD 15.12 Bn in 2024 and is expected to reach USD 25.91 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8% from 2024 to 2031.
Rising prevalence of autoimmune disorders and allergies is a major factor driving the demand for CIU therapeutics. Moreover, increasing awareness about available treatment options is encouraging more patients to seek medical help.
Key Takeaways
Key players operating in the chronic idiopathic urticaria treatment market are Johnson & Johnson, Bayer AG, Pfizer, Allergan, and Novartis. These companies hold a major share of the Chronic Idiopathic Urticaria Treatment Market owing to their diverse product portfolios and global distribution networks.
The growing incidence of chronic hives and autoimmune illnesses worldwide is propelling the growth of the CIU therapeutics market. According to estimates, CIU affects nearly 0.5%-1% of the global population at some point in their lifetime. Untreated chronic hives can severely impair the quality of life of patients.
Several drug manufacturers are focusing on expanding their reach in developing Asian and Latin American countries where the awareness about CIU is increasing rapidly. The emergence of local generic drug producers is also positively impacting the accessibility and affordability of treatment in low and middle-income nations.
Market Key Trends
One of the key trends gaining momentum in the CIU treatment market is the rising popularity of biologics and other targeted therapies. Biologics such as monoclonal antibodies that selectively inhibit inflammatory pathways associated with CIU are demonstrating encouraging results in clinical trials. Their ability to induce long-lasting remission with minimal side effects compared to conventional drugs is increasing their uptake among dermatologists. This trend is expected to significantly rewrite treatment guidelines and paradigms for chronic idiopathic urticaria over the coming decades.
Porter's Analysis
Threat of new entrants: Low capital requirements make entry easy but established brands create customer loyalty.
Bargaining power of buyers: Buyers have high bargaining power due to availability of generic alternatives.
Bargaining power of suppliers: Suppliers of active ingredients have bargaining power due to differentiated products and capabilities.
Threat of new substitutes: Potential threat exists from alternate therapies used for relieving chronic itch and hives such as antihistamines and immunosuppressants.
Competitive rivalry: Intense competition exists between major players due to generic alternatives and similar product varieties offered by competitors.
Geographical regions with highest value concentration
North America dominates the market due to high treatment rates and increasing prevalence of chronic idiopathic urticaria. The large healthcare expenditure and presence of major players in the region attracts higher adoption of branded drugs.
Fastest growing region
Asia Pacific is expected to witness highest growth during the forecast period majorly due to expanding pharmaceutical industry, availability of generics and improving access to diagnosis and treatment in emerging countries. Rising incidence of allergies and increasing demand for effective therapies support market growth in the region.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
