The Scabies Treatment Market is anticipated to witness a steady revenue growth rate during the forecast period. The primary driving factors contributing to this growth are the increasing prevalence of scabies diseases and the growing awareness among individuals.
Scabies is a contagious skin infestation caused by the Sarcoptes scabiei mite. These tiny mites can reside on the skin for months, reproducing on its surface and eventually burrowing into it to lay eggs if left untreated. As a result, severe itching and red rashes occur in the areas where the mites burrow. Scabies is transmitted through direct skin-to-skin contact.
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The following factors are supporting the growth of the scabies treatment market:
Drivers:
- Rising Prevalence: The increasing prevalence of scabies is a significant driver of market growth. According to the World Health Organization (WHO) scabies report of 2020, the disease affects over 200 million people worldwide at any given time, with prevalence rates ranging from 0.2% to 71%. Factors such as poor hygiene conditions, overcrowding, poverty, and hot tropical climates contribute to the rising number of people affected by scabies.
- Awareness: Growing awareness among individuals about available treatment options is also driving market revenue growth.
Restraining Factors:
- Home Remedies: Effective home care remedies for scabies treatment pose a restraint to market growth, as some individuals may opt for these remedies instead of seeking medical interventions.
- Side Effects: The side effects associated with existing drugs used for scabies treatment can hinder revenue growth in the market.
- Research and Development Expenses: The high costs associated with research and development of new drugs, along with the stringent regulations imposed on drug approvals, are expected to hamper market revenue growth.
Opportunities:
- Research and Development: Increased focus on research and development activities for innovative drugs and the development of low-cost treatment options present opportunities for major players in the market.
- Healthcare Infrastructure Development: The increased spending on healthcare infrastructure development in developed countries creates opportunities for market growth.
Geographic Market Scenario:
- Largest Market Share: North America is expected to dominate the scabies treatment market due to factors such as increased research and development efforts, rising healthcare expenditures, and growing awareness among the population about the disease.
- Fastest Growing Region: The Asia Pacific region is anticipated to be the fastest-growing market during the forecast period, driven by the high prevalence of infectious diseases and its large population base.
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Key Market Trends and Innovation: In August 2021, ParaPRO LLC, a specialty pharmaceutical company focused on anti-parasitic treatments, received approval from the U.S. Food and Drug Administration (FDA) for Natroba (Spinosad) topical suspension, 0.9%, for scabies treatment.
Major Companies in the Market: Key players in the scabies treatment market include Renaissance Pharma Inc., Merck & Co. Inc., Sun Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Ranbaxy Laboratories Inc., Unichem Laboratories Ltd., Prestium Pharma, Perrigo Company plc, Mankind Pharma, Encube Ethicals Pvt Ltd., and ParaPRO LLC. Start-ups and innovators in the market include Dermia Conticare and Connote Healthcare.
What Our Report Provides and Why Our Offering Is Better: Our report offers historical data, forecasts, and revenue growth analysis at a global, regional, and country level. It provides in-depth analysis of industry trends, consumption patterns, and segment details for each region, major country, and product type from 2019 to 2030.
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Detailed Market Segmentation: The market is segmented based on the type of scabies (typical scabies, nodular scabies, and Norwegian scabies or crusted scabies), route of drug administration (topical, injectable, and oral), product type (tablets, capsules, ointments, lotions, creams, injections, vials, and spray), end users (hospital pharmacy, online pharmacy, retail pharmacy), and distribution channel (online and offline).
Geographical segmentation includes North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Sweden, BENELUX, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and the rest of APAC), Latin America (Brazil and the rest of LATAM), and the Middle East & Africa (Saudi Arabia, UAE, South Africa, Israel, and the rest of MEA).
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