Psoriasis is a chronic non-contagious disease in which a person’s immune system sends faulty signals directing skin cells to grow too quickly. New skin cells forms in days rather than weeks resulting in their pilling up on the surface of the skin, causing patches of psoriasis. Most of the time it also affects fingers and nails resulting in painful disfiguration and partial disability. Psoriasis affects mostly knees, elbows, and scalp, but other body parts may also be affected. Thus, it has a heavy negative effect on the quality of life and results in social stigma. Although it can occur at any age but most commonly it occurs in the age group of 50–70. The exact cause and etiology of psoriasis is still unknown but usually auto-immunity, genetics and environmental factors are involved. Psoriasis is also associated with a host of co-morbidities such as psoriatic arthritis, ophthalmologic pathologies, diabetes, inﬂammatory bowel disease etc. According to the World Health Organization (WHO), 1.3% to 34.7% of individuals with psoriasis develop chronic psoriatic arthritis which may lead to joint deformations and disability. From 4.2% to 69% of all patients suffering from psoriasis develop nail changes. WHO also predicts that psoriasis affects about 100 million people with prevalence rates ranging from 0.09% to 11.43% in different countries. Plaque psoriasis is the most common form of psoriasis affecting 90% of all cases of psoriasis.
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Rise in screening and growing prevalence of psoriasis remains the most critical market driving factor of the global psoriasis treatment market. In general an upward trend is observed in several countries throughout the world. For example data from the national health and nutrition examination survey revealed that in United States prevalence of psoriasis increased from 1.62% to 3.10% from 2004 to 2010.
The other market driving factors for the global psoriasis treatment market is growing awareness, rise in risk factors such as autoimmune diseases, diabetes etc. and greater exposure to environmental factors such as chemicals, allergens etc. The market’s constraints include lack of effective and permanent treatment for the disorder. There is no cure for psoriasis and most treatment is either symptomatic or is temporary in nature. Other market restraints include high cost of drug development, patent expiry of a number of blockbuster drugs such as humira, enbrel and remicade etc, side effects associated with present medications such as hypertension, liver and kidney damage etc. The high cost of drugs coupled with their low efficacy and the advent of biosimilars also hampers the growth of the market.
The global psoriasis treatment market was valued to be US$7.0 billion in 2016 and is expected to reach US$10.68 billion by 2022. Thus the market is expected to grow at a CAGR of 7.3% from 2016 to 2022.
Key Players for Global Psoriasis Treatment Market
Some of the key players of this market are namely Novartis International AG, Johnson & Johnson, Pfizer Inc, Merck and Co. Inc, AbbVie and Amgen and Eli Lilly.
Global psoriasis treatment market has been segmented on the basis of mechanism of action, route of administration and by drug types.
Regional Analysis of Global Psoriasis Treatment Market
Globally North America is the largest market of global psoriasis treatment. Europe is the second largest market for global psoriasis treatment. However the developing market is Asia Pacific that will be the fastest growing region and will be the key to the future.
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Detailed Table of Contents:
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
List Of Tables
Table 1 global psoriasis treatment market, 2013-2022 (usd million)
Table 2 global psoriasis treatment market, by mechanism of action, 2013-2022 (usd million)
Table 3 global psoriasis treatment market, by route of administration, 2013-2022 (usd million)
Table 4 global psoriasis treatment market, by drug types, 2013-2022 (usd million)
Table 5 global psoriasis treatment market, by region, 2013-2022 (usd million)
List of figures
Figure 1 research process
Figure 2 porters five forces model
Figure 3 global psoriasis treatment market, by mechanism of action
Figure 4 global psoriasis treatment market, by route of administration
Figure 5 global psoriasis treatment market, by drug types
Figure 6 global psoriasis treatment market, by region
Figure 7 global psoriasis treatment market: company share analysis, 2015 (%)
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