The increasing prevalence of psoriasis around the world is boosting the market, says Fortune Business Insights in their recent report. The report is titled “Psoriasis Treatment Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2025.” According to the report, the market will reach US$ 37,634.2 Mn by 2026 from US$ 18,378.0 Mn in 2018, exhibiting a CAGR of 8.2% between 2018 and 2026.
According to the report prepared by Fortune Business Insights, the TNF inhibitors segment emerged dominant among drug classes. In 2018, the TNF inhibitor segment held 46.3% share in the market. However, in the coming years, the market may witness higher demand for biosimilar version leading to the decline in the price of TNF inhibitors. This, accompanied by the increasing prescription volume for interleukin inhibitors segment may help the interleukin inhibitors to emerge as the dominant segment in the coming years.
- Market Dynamics of the Industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in Terms of Value
- Recent Market Trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage
North America to Continue Dominating Market with Rapid Adoption of Biological Therapy
Fortune Business Insights foresees the global psoriasis market to witness dominance of North America followed by Europe. As per the National Psoriasis Foundation, there are about 8 million people in America living with psoriasis.
Owing to its quick rate of biological therapy adoption, and rise in investments on research and development for clinical trials, North America is likely to continue dominating the global market for psoriasis in the forecast period as well. On the other side, the emerging markets in the Middle East and Africa, Latin America, and Asia Pacific are expected to offer lucrative growth opportunities because of large patient pool, the improving healthcare infrastructure and medical facilities; increasing awareness, and with rising investments for development of new therapeutics for psoriasis.
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Rising Prevalence of Plaque Psoriasis to Increase Demand for Treatment, Boosting Market
One of the major factor boosting the global psoriasis treatment market is the increasing prevalence of the disease itself. The World Health Organization states that the prevalence of psoriasis is estimated to vary between 0.09% to 11.0% across all nations. This ultimately means that psoriasis is a serious problem. Psoriasis can occur to anyone irrespective of age but is usually reported to occur to aged people between 50 to 70 years. The rising geriatric population and their vulnerability towards diseases such as psoriatic arthritis are factor propelling growth of the market. These, coupled with the rising prevalence of plaque psoriasis, are likely to create growth opportunities for the market in the forecast period.
Key Companies and Manufacturers Covered:
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight.
- 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
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By Route of Administration
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online pharmacies
- 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)
Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.
Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Reasons to Purchase this Report:
- Estimates psoriasis treatment market trends with SWOT analysis.
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players.
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion.
- Market dynamics and opportunities for growth for players in the near future.
- Competitive landscape describing the market revenue shares of key players.
- Market segmentation analysis that deals with quantitative and qualitative research, discussing the influence of policy-based and economical aspects.
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KEY QUESTIONS ANSWERED:
- What are the key technological and psoriasis treatment market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the psoriasis treatment market growth?
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