Psoriasis Treatment Market Overview
The Global Psoriasis Treatment Market size can balloon to USD 13.1 billion by 2025. It can exhibit a CAGR of 7.3% over the forecast period. Psoriasis is a skin disorder characterized by scales, rashes, and dry patches. Research on psoriasis and its effective treatments have been linked to genetics and lapses in the immunity system. Conduction of clinical trials and therapies for this skin disorder due to its prevalence in developed and developing countries will drive the need for antibodies and antagonists. The global psoriasis treatment market report by Market Research Future (MRFR) contains drivers, challenges, trends, and opportunities for the period of 2019 to 2025 (forecast period).
High prevalence of psoriasis is the primary driver of the market. According to the National Psoriasis Foundation, more than 8 million Americans have psoriasis. It is prevalent in all races and affects patients commonly in the range of 50 to 69. Other major drivers of the market include investments in research and development into novel personalized therapies, awareness of the treatment, and encouragement for the growth of new technologies.
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The use of novel biomarkers for investigating the pathogenesis of psoriasis will bolster the psoriasis treatment market demand owing to its role in its early diagnosis. Results of these biomarkers are validated via techniques such as Western blot, ELISA, IHC, and qRT-PCR. Recently, etanercept, adalimumab, and infliximab have successful targeted tumour necrosis factor alpha (TNF-α) successfully and prevented its adhesion to its receptor in cells.
Psoriasis Treatment Market Segmentation
The global psoriasis treatment market is segmented by drug class and treatment type.
The global psoriasis treatment market, by drug class, is segmented into vitamin D analogues, tumour necrosis factor inhibitors, and Interleukin-inhibitors. Moreover, tumour necrosis factor inhibitors are further segmented into etanercept, adalimumab, and infliximab. Similarly, Interleukin-inhibitors is segmented into ustekinumab, secukinumab, ixekizumab, and brodalumab. Vitamin D analogues are segmented into calcitriol, calcipotriol, and tacalcitol.
Based on treatment, the global psoriasis treatment market is segmented into biologics, topicals, and systemic. Biologics is sub-segmented into tumour necrosis factor-alpha (TNF-a) inhibitors, InterleU.K.in 12 and 23 (IL-12/23) inhibitors, InterleU.K.in 17 (IL-17) inhibitor, and T cell inhibitor. Similarly, topicals are further sub-segmented into topical steroids, over the counter (OTC) topicals, and topical non-steroids. Systemic is segmented into methotrexate, retinoid, and cyclosporine.
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Psoriasis treatment market Regional Analysis
The global psoriasis treatment market covers the four regions, namely, the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas can lead the psoriasis treatment market owing to prevalence of psoriasis, awareness of treatment methods among the masses, and presence of prominent drug manufacturers. Prescribed treatments of topical agents and phototherapy for patients in Canada and the U.S. and approval of biologics will augur favorably for the market.
APAC can exhibit a stupendous growth rate during the forecast period owing to the expanding geriatric populace and the entry of psoriasis treatment market players in the region. Prescription of biologics and diagnostic tests used for development of customized therapies can drive the regional psoriasis treatment market growth. Clinical trials for the efficacy of alefacept and efalizumab conducted in Japan, South Korea, and Taiwan is an indicator of the huge potential of the market. On the other hand, the MEA region holds the lowest share of the global psoriasis treatment market owing to low economic development in Africa.
Psoriasis treatment market Competition Outlook
Eli Lilly and Company, Amgen, AstraZeneca, Merck and Co. Inc, Novartis International AG, Celgene Corporation, Pfizer Inc, AbbVie, Johnson & Johnson, and UCB are key players operating in the global psoriasis treatment market. The industry is complex with medications as a first line of treatment for cases of psoriasis based on the severity of their indication.
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