Psoriasis Treatment Market Analysis
Psoriasis treatment market is predicted to touch USD 13.1 billion at a 7.3% CAGR between 2019-2025, states the latest Market Research Future (MRFR) report. Psoriasis, simply put, is an autoimmune condition that causes rapid development of cells on the skin. The overgrowth can result in scaly, thick plaques that may itch and cause discomfort. Scales generally develop on joints, especially the knees and elbows, but it may appear in any part of the body including the face, scalp, neck, feet, and hands.
Various factors are propelling the global psoriasis treatment market growth. Such factors, according to the latest Market Research Future report, include vulnerability towards psoriatic arthritis, favorable reimbursement policies, growing awareness about psoriasis, increasing availability of biosimilars and biologics, aging population and changing lifestyle. Additional factors propelling the growth of the psoriasis treatment market include rising prevalence of autoimmune diseases, increasing incidence of psoriasis, increasing R&D activities for psoriasis treatment, and technological advancements.
On the contrary, lack of knowledge regarding the exact cause of psoriasis and its etiology, the high price of medications with their low efficacy and efficiency, side effects associated with symptomatic treatments, and lack of permanent and effective treatment are factors that may hamper the psoriasis treatment market growth during the forecast period.
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Psoriasis Treatment Market Segmentation
The Market Research Future report offers a complete segmental analysis of the psoriasis treatment market based on treatment type and drug class.
By drug class, the psoriasis treatment market is segmented into vitamin D analogues, InterleU.K.in-inhibitors, and tumor necrosis factor inhibitors. The tumor necrosis factor inhibitors segment is again segmented into etanercept, infliximab, and adalimumab. The InterleU.K.in-inhibitors segment is again segmented into brodalumab, ixekizumab, SecU.K.inumab, and ustekinumab. The vitamin D analogues segment is again segmented into tacalcitol, calcipotriol, and calcitriol.
By treatment, the psoriasis treatment market is segmented into biologics, systematic, and topicals. The topicals segment is again segmented into topical steroids, topical non-steroids, and over the counter topicals. The systematic segment is again segmented into methotrexate, cyclosporine, and retinoid. The biologics segment is again segmented into T cell inhibitor, InterleU.K.in 17 (IL-17) inhibitor, InterleU.K.in 12 and 23 (IL-12/23) inhibitors, and tumor necrosis factor-alpha (TNF-a) inhibitors.
Psoriasis Treatment Market Regional Analysis
By region, the psoriasis treatment market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific, the Middle East and Africa, and Latin America. Of these, North America will spearhead the market during the forecast period. Various factors are propelling the growth of the psoriasis treatment market in the region, such as the growing awareness about psoriasis treatment, rising prevalence of psoriasis, presence of key manufacturers, and increasing health infrastructure.
The psoriasis treatment market in Europe will have the second-largest share during the forecast period. Various factors are propelling the growth of the psoriasis treatment market in the region such as growing awareness about psoriasis, the launch of biosimilars (amzevita, elerzi), and increasing prevalence of psoriasis.
The psoriasis treatment market in the APAC region will grow at the fastest pace during the forecast period. Various factors are propelling the growth of the psoriasis treatment market in the region such as growing geriatric population, large patient pool, improving medical facilities and healthcare infrastructure, increasing participation of key market players, increasing investments to develop new therapeutics to treat psoriasis, and increasing awareness.
The psoriasis treatment market in the MEA will have a small share during the forecast period for the low economic development in Africa.
The psoriasis treatment market in Latin America will have a favorable growth during the forecast period owing to the focus of manufacturers to create novel therapeutics and rise in the psoriasis patient pool.
Psoriasis Treatment Market Key Players
Notable players profiled in the psoriasis treatment market report include Eli Lilly and Company (US), Amgen (US), AbbVie (US), Merck and Co. Inc (US), Pfizer Inc (US), Johnson & Johnson (US), Celgene Corporation (US), AstraZeneca (UK), UCB (Belgium), and Novartis International AG (Switzerland).
Psoriasis Treatment Industry News
Dec 2019: Daavlin, a renowned US-based phototherapy units’ manufacturer that utilizes therapeutic UV light to effectively and safely treat patients with eczema, vitiligo, and psoriasis have joined hands with HealthLens to give patients better access to receive a dermatology consultation as well as treatment right from their home. The patient just needs to book a consultation online, followed by uploading some pictures of the skin condition and brief health history, after which the information will get electronically encrypted and sent securely to the physician who will respond within 1-2 days.
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