The increasing prevalence of psoriasis around the world is boosting the global psoriasis treatment 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.
The research report gives an entire study of the Psoriasis Treatment Market leaders with key statistics like sales, revenue, price, product picture and specifications, contact information, cost, capacity, production and company profile. The report offers critical information at the state of the enterprise. Marketing channels and development trends of the market is also well-found inside the report, making it a valuable source of information and path for agencies and individuals.
- Raw material suppliers
- Regulatory bodies, including government agencies and NGO
- Commercial research and development (R&D) institutions
- Importers and exporters
- Government organizations, research organizations, and consulting firms
- Trade associations and industry bodies
- End-use industries
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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.
Leading Players operating in the Psoriasis Treatment Market are:
- Merck & Co., Inc.,
- LEO Pharma A/S,
- Pfizer Inc.,
- Sun Pharmaceutical Industries Ltd,
- AbbVie Inc.,
- UCB S.A.,
- Amgen Inc.,
- Johnson & Johnson Services, Inc.,
- Eli Lilly and Company,
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Increasing Investment on Development of Biologicals for Treatment will Augment Growth
The World Health Organization predicts the frequency of psoriasis to vary from 0.09% to 11.0% throughout all nations, thereby making it a serious problem worldwide. The increasing prevalence of this disease is a major psoriasis treatment market growth driver. Besides this, the advent of novel biologicals for treating various diseases is also expected to add impetus to the market. Product development, clinical trials, and innovation to cure this non-communicable disease are expected to bode well for the market.
On the negative side, the lack of consensus for treatment outcomes, expensive products, and delays in diagnostic procedures may cause major hindrance to the market in the forecast years. This, coupled with the delays associated with clinical management may also hamper the overall market size.
By Drug Class
- TNF Inhibitors
- Plaque Psoriasis
- Psoriatic Arthritis
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)
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FDA Approvals for Clinical Trails – Key Objective of Players
Companies are engaging in clinical trials, research and development, and other innovative ideas and massively investing in the same to make their mark in the competition. They are also focused on gaining clinical approvals from the Food and Drug Administration (FDA) which will further add more revenue to the market.
Major Industry Developments of the Psoriasis Treatment Market include:
February 2019 – FDA approved the use of TREMFYA, an injector that can be controlled by the patient single-handedly by Janssen Pharmaceuticals, a part of Johnson & Johnson Services Inc., for treating both severe and moderate cases of Psoriasis.
April 2019 – Duobrii the first and only lotion for adults suffering from psoriasis manufactured by Ortho Dermatologics received FDA approval.
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- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
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- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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