Psoriasis Treatment Market Indicating Strong Growth Signals, Know the Reasons with Insights | Glenmark Pharmaceuticals Limited, Sun Pharmaceuticals Industries Ltd., Cipla Ltd

Market Overview

Psoriasis is a common inflammatory skin condition. This disease affects both men and women equally. A person with psoriasis will exhibit red, silvery, flaky patches on their skin. Although there is no known cause for psoriasis, the immune system is believed to be at fault. The most common type of psoriasis is plaque psoriasis. The symptoms of this disease can be easily treated by topical treatment. The treatment for psoriasis usually involves the use of biologic drugs. These drugs change the immune system and are approved for severe cases. A doctor will prescribe the medication based on the results of the biopsy.

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Market Dynamics

Increasing prevalence of psoriasis is expected to propel the global psoriasis treatment market growth over the forecast period. According to the World Psoriasis Day consortium, around 125 million people across the globe suffer from psoriasis every year. According to the study report Psoriasis Prevalence in Adults in the United States, in June 2021, over 8 million people across the U.S. have psoriasis. Psoriasis can be treated with photodynamic therapy, medications such as steroids, and self-care.

However, adverse effects of existing medications combined with a high cost of psoriasis treatment are expected to hamper the global psoriasis treatment market growth over the forecast period.

Impact of COVID-19 Pandemic

The outbreak of the COVID-19 pandemic has massively impacted growth of the global psoriasis treatment market. Following the pandemic, many countries decided to implement nationwide lockdown policies, in order to curb the spread of the virus. Manufacturing companies had to shut down their operations, in order to comply with regulations, which further impacted growth of the said market. However, the rollout of vaccines and many countries undertaking mass vaccination programs is expected to aid in regaining the lost traction of the market in the near future.

Key Takeaways

• For instance, in June 2021, Novartis received the U.S. Food and Drug Administration (FDA) approval for its Cosentyx for the treatment of moderate to severe plaque psoriasis in patients aged six years and above, who are candidates for phototherapy.

• Among regions, North America is expected to witness significant growth in the global psoriasis treatment market during the forecast period. This is owing to increasing number of patients seeking treatment.

• Key companies involved in the global psoriasis treatment market are AbbVie Inc., Amgen Inc., Novartis AG, Pfizer Inc., Eli Lilly and Company, Dr.Reddy`s Laboratories, AstraZeneca, Stiefel Laboratories Inc., Boehringer Ingelheim, and Takeda Pharmaceutical Company Limited.

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Reasons to Purchase this Report

• Current and future of global Psoriasis Treatment Market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players

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Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Psoriasis Treatment Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Psoriasis Treatment Industry Impact

Chapter 2 Global Psoriasis Treatment Competition by Types, Applications, and Top Regions and Countries
2.1 Global Psoriasis Treatment (Volume and Value) by Type
2.3 Global Psoriasis Treatment (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Psoriasis Treatment Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Psoriasis Treatment Market Analysis
Chapter 6 East Asia Psoriasis Treatment Market Analysis
Chapter 7 Europe Psoriasis Treatment Market Analysis
Chapter 8 South Asia Psoriasis Treatment Market Analysis
Chapter 9 Southeast Asia Psoriasis Treatment Market Analysis
Chapter 10 Middle East Psoriasis Treatment Market Analysis
Chapter 11 Africa Psoriasis Treatment Market Analysis
Chapter 12 Oceania Psoriasis Treatment Market Analysis
Chapter 13 South America Psoriasis Treatment Market Analysis
Chapter 14 Company Profiles and Key Figures in Psoriasis Treatment Business
Chapter 15 Global Psoriasis Treatment Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology