Psoriasis Treatment Market Insights
Global Psoriasis Treatment Market share is expected to register 7.3% CAGR across the evaluation period 2019 to 2025. It is also projected to touch USD 13.1 Billion mark by the end of 2025. The Psoriasis Treatment Market 2020 is supposed to witness breakthroughs with the development of new drugs. The market is foreseen to be lucrative soon.
The patients prone to the disease are generally older adults about 55 years of age. This factor is supposed to influence the growth trajectory of the Psoriasis Treatment Market positively since geriatric population is increasing exponentially. Also, governments are investing in clinical trials and drug discovery. These factors are further supposed to expand the Psoriasis Treatment Market soon.
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Rising awareness about the treatment has led to acceleration of revenue generation. It has catalyzed investments in preventive care, thus, expanding the Psoriasis Treatment Market. The prevalence rate of the disease ranges from 0.09-11.4% population of most of the countries around the world. It implicates that the disease has a huge patient population and is also supposed to encourage governments to invest in the availability of medical facilities. Hence, the market is supposed to scale new heights in the upcoming years.
Psoriasis Treatment Market Segmentation
The psoriasis treatment market, by drug class, is segmented into Tumour Necrosis Factor Inhibitors (Infliximab, Adalimumab, and Etanercept), InterleU.K.in-Inhibitors (Ixekizumab, SecU.K.inumab, Ustekinumab, and Brodalumab), Vitamin D Analogues (Calcipotriol, Calcitriol,and Tacalcitol).
On the basis of treatment type, the Psoriasis Treatment Market has been segmented into topicals (topical non-steroids, over-the-counter OTC topicals, and topical steroids), systemic (cyclosporine, retinoid, and methotrexate), biologics (interleu.k.in 12 and 23 (il-12/23) inhibitors, tumour necrosis factor alpha (TNF-α) inhibitors, t cell inhibitor, and interleu.k.in 17 (il-17) inhibitor).
Psoriasis Treatment Market Regional Analysis
The geographical study of the global Psoriasis Treatment Market is covered for the following regions – Americas, Europe, Asia-Pacific (APAC), and the Middle East and Africa (MEA). The country-based assessment of each of the region is also included in this MRFR report. Americas is supposed to lead the Psoriasis Treatment Market. Increasing patient population, in conjunction with rising geriatric population, is projected to boost the growth curve of the regional market. Also, increasing standardization of drug research and discovery in the region is presumed to augment the psoriasis therapeutics market. It has been seen that the awareness about the disease is increasing. It is anticipated to catalyze preventive medicine sales. This is also supposed to support the expansion of the Psoriasis Treatment Market in the foreseeable future.
Europe is a major region in the Psoriasis Treatment Market. Increasing investments in research & development of drugs are expected to accelerate revenue growth in the region. Asia Pacific is foreseen to exhibit robust growth. The focus of the governments in the development of the healthcare industry is presumed to lead the proliferation of the psoriasis drugs market in the coming years. Also, the population of older adults in the region is rising. It is another major factor prognosticated to develop the Psoriasis Treatment Market in the region. Lastly, the Middle East and Africa region are anticipated to hold the least share of the market. The region is supposed to grow but at a limited pace. Lack of awareness in the underdeveloped regions of the segment poses challenge to market players.
Psoriasis Treatment Market Competitive Dashboard
Novartis International AG (Switzerland), AstraZeneca (UK), UCB (Belgium), Celgene Corporation (US), Pfizer Inc (US), Johnson & Johnson (US), Merck and Co. Inc (US), Amgen (US), AbbVie (US), and Eli Lilly and Company (US) are the major participants of the Psoriasis Treatment Market.
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