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Psoriasis Treatment Market expected to grow at a decent rate of 5.10% CAGR during 2016 to 2024

Psoriasis is an autoimmune condition and cannot be cured completely. The current treatment methods, to an extent, effectively work in controlling the disease. Hence, the opportunities for consumption remains worthy for players in the global psoriasis treatment market in the coming years. However, with time, companies would want to stay ahead in the league and hence are working on developing drugs that are more effective. The current drug pipeline appears to be promising and any launch in the next few years will have a significant impact on the growth of the global psoriasis treatment market.

Transparency Market Research has recently published a report on the global psoriasis treatment market. It states that the market is expected to grow at a decent rate of 5.10% CAGR during 2016 to 2024. The potential players in the global psoriasis treatment market include LEO Pharma, AbbVie, AstraZeneca, Pfizer, and Biogen.

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Rise in Psoriasis Cases to Favor Growth

The overall number of cases of psoriasis has steadily increased. While the incidence of the disease is on the rise due to several factors that trigger gene mutation such as pollution and lifestyle habits. At the same time, the general awareness among the public about the disease is considered to be the larger reason for the rise in number of cases. With internet and social media presence, healthcare organizations and governments have been able to conduct awareness campaigns that reach out to the people. As a result, people have realized the importance of early diagnosis and timely treatment for the disease. This has been one of the largest factors for growth in the global psoriasis treatment market.

While there has been general awareness among the public, governments across the world have taken initiatives to help people suffering from these conditions, especially in the rural areas. Consistent campaigns and efforts to ensure people from the rural and deeper areas where the access to healthcare is poor, has raised the demand for products in the global psoriasis treatment market.

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Favorable Healthcare System to Augment Growth in North America

Undoubtedly the developed healthcare system in North America, especially the United States, favors growth for the global psoriasis market. The regulated healthcare system coupled with organized policies that aid in diagnosing diseases and treating them on time have been of solid support to all healthcare markets. At the same time, the buzzing pharmaceutical business environment keeps the North American region sound for business. These aspects have a substantial impact on the growth of the global psoriasis treatment market.

Besides North America, Europe and Asia Pacific will also remain important for players in the global psoriasis treatment market. Companies will be looking to explore business potential in new areas in the coming years to be able to expand and sustain in the business.

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The global psoriasis treatment is segmented based on

Drug Class

  • TNF Inhibitors
  • Interleukin Inhibitors
  • Vitamin D Analogs
  • Corticosteroids

Route of Administration

  • Oral
  • Parenteral
  • Topical

Distribution Chanel

  • Hospital Pharmacies
  • Retail Pharmacies

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Global psoriasis treatment market size was valued at USD 18,378.0 Million in 2018 and is projected to reach USD 37,634.2 Million by 2026, exhibiting a CAGR of 9.4% in the forecast period (2019-2026).

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Psoriasis Treatment market.

Trusted Business Insights presents an updated and Latest Study on Psoriasis Treatment Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Psoriasis Treatment market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Psoriasis Treatment Market Size, Share and Industry Analysis By Drug Class (TNF Inhibitors, Interleukins, Others), By Type (Plaque Psoriasis, Psoriatic Arthritis, Others), By Route of Administration (Oral, Parenteral, Topical), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online pharmacies), and Regional Forecast 2020-2029 (Includes COVID-19 Business Impact)

The global psoriasis treatment market size was valued at USD 18,378.0 Million in 2018 and is projected to reach USD 37,634.2 Million by 2026, exhibiting a CAGR of 9.4% in the forecast period (2019-2026).

We have updated Psoriasis Treatment Market with respect to COVID-19 Impact.
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Psoriasis is a common, chronic, non-communicable skin disease, with no clear cause or cure. It is an autoimmune inflammatory disorder resulting in overproduction of skin cells, leading to an itchy and painful skin condition characterized by inflammation, red lesions, and plaques formation on the skin. It can occur at any age and is most common in the age group from 50 to 70 years.

According to the World Health Organization (WHO), the prevalence of psoriasis is estimated to vary between 0.09% to 11.0% across all nations, making psoriasis a serious global problem, increasing the demand for psoriasis treatment, and spelling good news for the global psoriasis treatment market share.

In most of the developed countries, the prevalence of psoriasis is between 1.5 to 5.0%, and an upward trend in the disease prevalence has been observed in recent years. The disease can be categorized into two major types, plaque psoriasis, and psoriatic arthritis. According to a study published by Celgene Corporation, about 30% of the patients with psoriasis develop the inflammatory condition of joints, known as psoriatic arthritis.

Rapidly increasing geriatric population, growing prevalence of plaque psoriasis and psoriatic arthritis, the huge pipeline of biologic and biosimilar products, favorable reimbursement policies, and growing prescription volume of the biologic products are some of the major factors contributing the global psoriasis treatment market growth.

“”Growing prevalence of psoriasis, the surge in biological therapy approvals, recent changes in the treatment guidelines, growing adoption of novel biologicals, and increase in the healthcare awareness leading to early diagnosis of the disease are projected to augment the market for psoriasis treatment revenue during the forecast period.””
The rise in the prevalence of psoriasis around the globe has led to an upsurge in the demand for safe and effective therapies for the treatment of psoriasis. According to the National Psoriasis Foundation (NPF), it is estimated that in 2017, around 125 million people globally had psoriasis, out of which 10-20% population developed psoriasis arthritis.

Moreover, a recent wave of biologicals for psoriasis treatment is likely to double the global psoriasis treatment market size by the end of 2026 leveraging a great market potential for investment in the novel product developments and clinical trials. A wide opportunity for many key players to enter the global psoriasis treatment market to launch new products through investments in research and development activities.

Additionally, growing strategic collaborations and mergers among various key players in the market for psoriasis treatment are increasing the penetration of innovative products. For instance, in February 2018, UCB S.A. presented its new data on CIMZIA, and another key pipeline molecule, bimekizumab, at the 2018 American Academy of Dermatology (AAD) Annual Meeting in San Diego, CA.

This data demonstrated positive treatment results of CIMZIA in adults with moderate-to-severe chronic plaque psoriasis. However, the global psoriasis treatment market faces some of the major challenges such as limited penetration of biologics in emerging regions due to the high cost of products, delay in diagnosis, gaps in clinical management, and lack of consensus on treatment outcomes, which are likely to hamper the growth of the psoriasis treatment market during the analysis period.

Market Segmentation

Based on drug class, the market segments include TNF Inhibitors, interleukin inhibitors, and others. Among them, the TNF inhibitors segment dominated the market, holding a share of 46.3% in the year 2018. The segment is expected to lose its portion in global psoriasis treatment market share owing to the decline in the prices of branded products resulted in from the entry of biosimilar versions and growing prescription volume for interleukin inhibitors segment. Plaque psoriasis segment dominated the market; however, growing applications of biologics in the management of psoriatic arthritis are likely to push the growth of the psoriatic arthritis segment significantly during the forecast period.

Regional Analysis

“”Easy access to medical care in the U.S., high prescription volume of biologics, high cost of the biologic products, and growing prevalence of psoriasis in the region contribute to the dominance of North America region in the global psoriasis treatment market””

The growing burden of psoriasis in the North American countries is likely to drive the demand for novel and effective psoriasis treatment options for management of the condition. According to the National Psoriasis Foundation, currently, about 8 million Americans are living with psoriasis.

The region is likely to continue its dominance in the global psoriasis treatment market throughout the forecast period and this is attributable to high adoption of biological therapies, high research and development spending by the players in the region on clinical trials on psoriasis management, and increase in long-term & preventive healthcare facilities.

Development of strong healthcare reforms in the U.S. will provide psoriasis patients with greater accessibility to medical care, which, in turn, will fuel the psoriasis treatment market growth during the forecast period. Europe was the second-largest market for psoriasis treatment while Asia Pacific is projected to expand at the highest rate in the global market during the forecast period. Latin America and the Middle East & Africa regions are considered to be the emerging markets leveraging a great opportunity for the players to innovate different psoriasis treatment methods and to establish their footprints in these regions.
North America Psoriasis Treatment Market Size, 2018

Key Market Drivers

The global psoriasis treatment market is a fairly consolidated market with industry behemoths holding major chunk of the market. AbbVie held leading position with its leading brand Humira which is still the most prescribed biologic for the management of psoriasis. Moreover, the company recently got an approval for Skyrizi (risankizumab) for the treatment of psoriasis patients on 23 April 2019. Other leading players in the market includes industry giants such as Novartis AG, Pfizer Inc., Amgen, Merck etc.

List of Companies Profiled

  • AbbVie Inc.
  • Novartis AG
  • Johnson & Johnson Services, Inc.
  • Pfizer Inc.,
  • LEO Pharma A/S
  • Merck & Co., Inc.
  • Amgen Inc.
  • Eli Lilly and Company
  • CELGENE CORPORATION
  • UCB S.A.
  • Sun Pharmaceutical Industries Ltd.
  • Other prominent players

Report Coverage
The report provides qualitative and quantitative insights on psoriasis treatment industry trends and detailed analysis of market size & growth rate for all possible segments in the market. The psoriasis treatment market segments include drug class, type, route of administration, and distribution channel. Based on drug class, the global market is segmented into TNF inhibitors, interleukin inhibitors, and others.

Based on type, the global psoriasis treatment market is segmented into plaque psoriasis and psoriatic arthritis. In terms of route of administration, the market is categorized into oral, parenteral, and topical. Based on the distribution channel, the global psoriasis treatment market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.

Along with this, the report analysis comprises of market dynamics and competitive landscape. Additionally, the report offers insights on the prevalence of psoriasis and psoriatic arthritis for key countries/region, recent industry developments such as partnerships, mergers & acquisitions, new product launches, etc.; pipeline analysis for key companies, the regulatory framework by key countries, and global reimbursement scenario.
SEGMENTATION

SEGMENTATION

 

By Drug Class

  • TNF Inhibitors
  • Interleukins
  • Others

By Type

  • Plaque Psoriasis
  • Psoriatic Arthritis
  • Others

By Route of Administration

  • Oral
  • Parenteral
  • Topical

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online pharmacies

By Geography

  • North America (U.S. and Canada)
  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Key Industry Developments

 In May 2019, Mayne Pharma Group Limited received FDA approval to use SORILUX Foam for the treatment of plaque psoriasis of the body & scalp in patients aged 12 years and older.

 In April 2019, Ortho Dermatologics received FDA approval to use Duobrii (halobetasol propionate and tazarotene) which is the first and currently only lotion indicated for adults with plaque psoriasis by limiting the overgrowth of cells responsible for plaque psoriasis formation.

 In February 2019, Janssen Pharmaceuticals, Inc. (Johnson & Johnson Services, Inc.) received FDA approval to use TREMFYA, One-Press, a single-dose, patient-controlled injector for the treatment of moderate-to-severe plaque psoriasis in adults.

 In December, 2017, Pfizer Inc. announced that USFDA has approved its product Infliximab, a chimeric human-murine monoclonal antibody (mAb) against tumor necrosis factor, as a biosimilar to Remicadeas a treatment for patients with rheumatoid arthritis, Crohn”s disease, pediatric Crohn’s disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and plaque psoriasis

 

Looking for more? Check out our repository for all available reports on Psoriasis Treatment in related sectors.

Quick Read Table of Contents of this Report @ Psoriasis Treatment Market Size, Share and Industry Analysis By Drug Class (TNF Inhibitors, Interleukins, Others), By Type (Plaque Psoriasis, Psoriatic Arthritis, Others), By Route of Administration (Oral, Parenteral, Topical), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online pharmacies), and Regional Forecast 2020-2029 (Includes COVID-19 Business Impact)

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