Market Overview:
The most prevalent form of psoriasis is chronic plaque psoriasis. It could be tiny or big, well-marked, red, scaly, and thickened skin regions. The elbows, knees and lower back are most probable to be affected, but can occur on any portion of the body. It appears to be a quite persistent or chronic pattern of psoriasis which may improve with treatment but is tough to cure entirely with only topical medications.
It is characterized by big plaques with a typical silver scale and flat regions of psoriasis. These plaques can unite in large areas of the skin, especially on the trunk and limbs. Scalp and nail psoriasis is often associated with it. Approximately 90% of psoriasis kinds are chronic plaque psoriasis, which are well-marked, dense, and often symmetrically dispersed red, scaly plaques, with a white accumulation of dead cell. Psoriasis often develops between 15 and 35 years of age, but can grow at all ages. Of those with psoriasis, about 10 to 15% get it before age 10. Although this is uncommon, some babies have psoriasis. According to the World Psoriasis Day consortium, 125 million individuals globally, 2-3 percent of the total population, have psoriasis. Studies reveal that psoriatic arthritis develops between 10 and 30 percent of individuals with psoriasis. It is unknown exactly why psoriasis occurs even if environmental factors, skin barrier disorders, and immune disorders are thought to be important elements in psoriasis growth. The major types of plaque psoriasis are more than four-fifths of the worldwide pain of the whole patient base.
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Competitive Landscape:
The major psoriasis drug manufacturers focus on new marketing strategies to boost product penetration. The psoriasis market businesses continue to regard acquisitions as an important aspect of their growth strategy The companies are also aiming on to form a value chain for their interested areas, develop sustainable formulations and innovate new products for psoriasis.
For instance, Novartis International AG provides a variety of products including Cosentyx, Neoral and Ilaris for psoriasis treatment. Cosyntex, a large share in the company’s income, led to an innovative product and reportedly raised USD 2071 million in 2018.
Some of the major players operating in chronic plaque psoriasis market are Novartis International AG, Sun Pharmaceutical Industries Ltd, Eli Lilly & company, Amgen Inc., Abb Vie Inc., Merck & Co., Pfizer Inc., Boehringer Ingelheim GmbH, and Janssen Biotech Inc. among others
Market Dynamics: Drivers, Restraints, Opportunities Challenges
- The new product launches will fuel the market growth significantly over the forecast period.
A wide variety of patient decisions and complicated patient psychology continue to contribute to suboptimal treatment. With the advent of new medicines almost every year, psoriatic therapy is continually developing. The market for Plaque psoriasis is very expansive and new therapies are being developed for pipeline. In addition to the launch of Sun Pharma’s Ilumya and UCB’s Cimzia, are will turn to be challenging for the existing IL-17 and IL-23 inhibitors, tumor necrosis factor (TNF), and for small molecule compounds as well.
- Rising Demand for Minimally Invasive Therapies
In order to achieve quicker and more effective results in a short time, patients with psoriasis management options increasingly adopt technologically advanced non-invasive or minimally invasive psoriasis treatment procedures. Manufacturers use biotechnology for the development of new biological drugs, which are effective for the long term, to address this question. These biological treatments are an alternative treatment for moderate and chronic psoriasis to conventional psoriasis drugs. Biosimilar emergence is also a trend which is increasingly adopted by key players in the drug psoriasis market, thus driving market growth in chronic psoriasis over the forecast period.
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Key Segments
Chronic Plaque Psoriasis Market by Drug Class
- Tumor Necrosis Factor Inhibitors
- Interleukin Inhibitors
- Vitamin-D Analogues
- Others (Anti-inflammatory, Corticosteroids etc.)
Chronic Plaque Psoriasis Market by Product Type
- Topicals
- Oral
- Injectable
Chronic Plaque Psoriasis Market by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- E-Commerce
Geographic Landscape
- North America Dominates the Market and is expected to do so in the Forecast Period.
The market for chronic plaque psoriasis is currently dominated by North American countries and is anticipated to persist for a few years. The U.S. holds the leading market share in North America. The increased incidence of psoriasis, the presence of favorable public policies, advanced health facilities, elevated therapeutic acceptance and the presence of key drug producers can largely be ascribed to this. According to recent studies, over 8 million Americans are suffering from psoriasis. In African Americans, the psoriasis incidence is 1.3% compared with 2.5% of Caucasians. Followed by Europe is estimated to hold the second largest market share globally, as most of the main academic study institutions are situated in the region. Whereas, the Asia Pacific region is projected expand at highest CAGR during the forecast period.
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Conclusion:
Growing prevalence of chronic plaque psoriasis owing to which the use of different psoriatic products and treatments around the world has risen significantly. The main drivers of development for the market include increased awareness of therapy and increased demand for enhanced health facilities. By implementing policies, including partnerships and acquisitions for the growth of novel products, companies focus on company expansion in developing and emerging economies such as India, China and South Korea.
Table of Content
- Introduction
- Research Methodology
- Executive Summary
- Market Overview
- Industry Insights
- Chronic Plaque Psoriasis Market, by Drug Class
- Chronic Plaque Psoriasis Market, by Product Type
- Chronic Plaque Psoriasis Market, by Distribution Channel
- Chronic Plaque Psoriasis Market, by Region
- Competitive Landscape
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