Skin Fibrosis Treatment Market, by Drug Type (Corticosteroids, Antifibrotic, Immunotherapy Drugs, Other(Immunosuppressant)), by Route of Administration (Oral, Parenteral, Other(Topical)), by Application (Localized forms of scleroderma, Eosinophilic fasciitis, Scleromyxedema (papular mucinosis), and Scleredema), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Sep 2022

Code : CMI5255

Pages :156

Formats :

Excel and PDF

Industry : Pharmaceutical

Market Challenges And Opportunities

Restraints

The major factors that hinder growth of the global skin fibrosis treatment market include high cost of the skin fibrosis drugs. For instance, in April 2017, according to the data published by the Vertex Pharmaceuticals, Biotech Company, include Orkambi (ivacaftor/lumacaftor), Trikafta (ivacaftor/tezacaftor/elexacaftor), carry high list prices between US$ 270,000 and US$ 310,000 per year. The patients with skin fibrosis needs treatment for life time which becomes difficult for people with low income to continue with the skin fibrosis treatment therapy.

Global Skin Fibrosis Treatment Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global skin fibrosis treatment market, owing to the decrease in research and development activities for the treatment of the skin fibrosis. For instance, in December 2020, according to the data published by the National Center for Biotechnology Information, the research and development activities for the development of vaccines for prevention of coronavirus was on priority. The clinicians and the medical physicians were engaged in the clinical trials and Food and Drug Administration approval for the vaccines used in immunization against COVID-19. The research and development activities for the development of skin fibrosis drugs was slowdown as the impact and response of the Covid-19. The government of different countries imposed lockdown which restricted the availability of the required biological molecules for development of the skin fibrosis treatment drugs.

Restraints