Chronic Idiopathic Urticaria (CIU), commonly known as chronic hives, is a type of hives that appears for more than 6 weeks without a known cause. Patients suffering from CIU experience redness, swelling and itching of the skin. While antihistamines are typically the first line of treatment for relieving symptoms, some patients may require additional treatment options such as immunosuppressants or biologics. The global CIU treatment market consists of drugs for treating symptoms as well as disease modifying therapies targeting the underlying cause.
The Global Chronic Idiopathic Urticaria Treatment Market is estimated to be valued at US$ 2.5 Billion in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the CIU treatment market are Pfizer, GSK, Teva Pharmaceutical Industries Ltd, Novartis AG and AstraZeneca.
Growing research and development of novel targeted therapies and biologics is expected to open attractive opportunities for market growth. Several pharmaceutical companies are conducting clinical trials to evaluate the efficacy of biologics such as dupilumab and lebrikizumab for treating CIU.
The market is witnessing significant expansion in areas such as Asia Pacific and Latin America driven by growing incidences of CIU, increased awareness and availability of advanced treatment options.
Market Drivers
Growing adoption of novel therapeutic options such as biologics among patients with severe and refractory CIU is a major factor accelerating market growth. Biologics offer targeted treatment approaches with better efficacy and safety outcomes over conventional oral antihistamines. Additionally, the development of more convenient oral versions of existing injectable biologics is also expected to bolster their adoption.
PEST Analysis
Political: Regulations and compliances related to drug development and approval processes play an important role. Government policies regarding approval and adoption of newer treatment options impact the market.
Economic: Economic growth, inflation rates, and healthcare spending influence spending on CIU treatment drugs. High treatment costs of biologics pose affordability challenges in some regions.
Social: Growing social awareness about CIU symptoms and available treatment options aids adoption. Stigma associated with visible symptoms of hives reduces quality of life and drives demand for treatment.
Technological: Advancements in drug development technologies help design newer and targeted treatment options. Development of biologics has provided effective alternate treatment options to patients responding poorly to conventional antihistamines.
Geographical Regions of Concentration
North America holds the major share of the global chronic idiopathic urticaria treatment market, in terms of value, owing to developed healthcare infrastructure and availability of high-priced targeted biologics in the region. The United States accounts for the majority share due to presence of major pharmaceutical companies conducting research and approval of newer drugs.
Fastest Growing Geographical Region
Asia Pacific region is poised to witness the highest growth over the forecast period owing to rapidly developing healthcare sector and increasing spending on specialty drugs like biologics in countries like China and India. Growing urbanization, rising disease awareness through diagnostic campaigns, and increasing adoption of Western lifestyles boost the regional market growth.
What Are The Key Data Covered In This Chronic Idiopathic Urticaria (CIU) Treatment Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Chronic Idiopathic Urticaria (CIU) Treatment’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Chronic Idiopathic Urticaria (CIU) Treatment and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Chronic Idiopathic Urticaria (CIU) Treatment Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Chronic Idiopathic Urticaria (CIU) Treatment vendors
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Ravina Pandya
Ravina Pandya,a 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, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile