The Rise of Targeted Therapies in the Lichen Planus Market
The Rise of Targeted Therapies in the Lichen Planus Market
Blog Article
The lichen planus market involves the pharmaceutical treatment of a chronic inflammatory disease that affects the skin and mucous membranes. The disease is considered an autoimmune disorder that results in itchy small raised bumps or blisters on the skin or inside the mouth. The treatment options involve topical corticosteroids that help reduce inflammation and discomfort. The underlying pathophysiology involves the activation of T-cells against constituent self-antigens.
The Global Lichen Planus Market is estimated to be valued at USD 150.1 million in 2024 and is expected to reach USD 251.2 million by 2031, growing at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
The Lichen Planus Market growth can be attributed to rising cases of autoimmune diseases globally along with spreading awareness about the benefits of early treatment. Various stakeholders in the industry are focusing on drug discovery and developing novel topical therapeutics to treat the inflammatory condition more effectively.
Key Takeaways
- Key players operating in the lichen planus market are AbbVie, Amgen, Bristol-Myer Squibb. AbbVie dominates with its topical corticosteroid products to reduce inflammation and itching.
- Growing patient pool suffering from autoimmune disorders is a major factor driving the demand for various treatment options in the market. According to estimates, 1-2% of the global population is impacted by lichen planus annually.
- Researchers are investigating the pathogenesis of lichen planus to develop targeted therapies. Advanced research in immunodermatology and immunogenetics has facilitated better understanding of the immunological mechanisms to accelerate development of new treatment paradigms.
Market Trends
- Combination therapies have emerged as a key trend with companies exploring biologics in combination with topical medications to achieve a synergistic treatment response.
- Adoption of advanced drug delivery systems holds potential to enhance efficacy of existing topical corticosteroids. Technologies such as nanoparticles, patch-based systems and gels are being evaluated for controlled and localized drug release.
Market Opportunities
- Developing countries present lucrative opportunities for market players due to growing medical infrastructure and increasing healthcare expenditure in these regions.
- Nutraceuticals with immunomodulatory properties indicate new avenues for adjunctive management of lichen planus. Compounds from natural sources are being researched for their anti-inflammatory and anti-oxidant benefits.
Impact of COVID-19 on Lichen Planus Market Growth
The COVID-19 pandemic negatively impacted the lichen planus market growth during 2020-2021. Government measures like lockdowns and restrictions on non-essential medical services significantly reduced the number of dermatology clinic visits. This led to fewer new cases being diagnosed. Additionally, limited research activities and halted clinical trials obstructed market progress. However, with increasing vaccination rates and easing restrictions post 2021, the market is recovering steadily.
In the pre-pandemic period, the market was expanding at a noticeable pace owing to the growing prevalence of lichen planus, increasing research funding for treatment development, and rising healthcare expenditures worldwide. However, the pandemic stalled this upward movement temporarily as the healthcare systems prioritized COVID-19 management. Now, as normalcy is returning, sales of drugs like corticosteroids and immunosuppressants are rising again. The demand is also being supported by telemedicine provisions for dermatological consultations.
Looking ahead, focusing on digital health solutions, pandemic preparedness, novel biologics research and ensuring adequate supply chain resilience will be critical for sustaining long term growth in the post-COVID scenario. Continued policy support for the sector will further aid recovery.
The lichen planus market in terms of value is highly concentrated in North America and Western Europe. This is attributed to the strong presence of major pharmaceutical companies, higher diagnosis and treatment rates, and rising expenditure power in these regions.
However, the Asia Pacific market is emerging as the fastest growing regional market for lichen planus treatment. This is majorly driven by increasing medical insurance penetration, growing dermatological disorders due to changing lifestyles and pollution levels, and improving access to quality healthcare in developing nations like India and China. Rising medical tourism is also benefiting the APAC lichen planus market.
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About Author: 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)