Psoriasis Treatment Market Overview
The global psoriasis treatment market is anticipated to expand market value at 7.3% CAGR during the predicted timeframe. Further, the worldwide market has been projected to achieve approximately USD 13.1 billion during the forecast period.
The growing events for the treatment of advanced technology development and the growth in research and development for psoriasis treatment are driving the growth of the psoriasis treatment market during the forecast timeframe. Further, the surge in biological therapy approval is projected to enhance the market growth during the forecast period.
Moreover, the rising prevalence of Psoriasis rising incidence of Psoriasis worldwide is projected to bring lucrative opportunities for the worldwide market for Psoriasis Treatment. However, the high medication cost associated with Psoriasis Treatment is expected to hamper the growth of the psoriasis treatment market.
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Psoriasis Treatment Market segmentation
According to the psoriasis treatment market report, the current market has been segmented based on the type and treatment.
In terms of the treatment segment, the worldwide psoriasis treatment market has been segmented into biologics, topical, and systemic. Further, the systemic segment is sub-segmented into methotrexate, retinoid, and cyclosporine. Also, the topical segment is sub-segmented into topical steroids, counter OTC topicals, and topical non-steroid. Additionally, the biologics segment is sub-segmented into Interleukin-17, tumor necrosis factor-alpha TNF-a, T-cell, and IL-17 inhibitors.
On the basis of drug type segment, the global psoriasis treatment market has been classified into vitamin D analogs, interleukin inhibitors, and tumor necrosis factor inhibitors. Further, the interleukin- inhibitors segment is sub-classified into secukinumab, ustekinumab, brodalumab, and ixekizumab. Alternatively, the tumor necrosis factor inhibitors are further sub-classified into infliximab, adalimumab, and etanercept. On the other hand, the vitamin D analogues are sub-classified into tacalcitol, calcitriol, and calcipotriol.
Psoriasis Treatment Market Regional Analysis
Geographically, the psoriasis treatment market is spread across various areas like America, the Middle East, Africa, Asia Pacific, Europe, and others.
Among all, the American market for Psoriasis Treatments is predicted to lead the market growth along with the increasing value of the psoriasis treatment industry. This region is fueled because of the presence of major manufacturers, awareness growth among people, and the rising prevalence of Psoriasis in the region. The research report shows that nearly 8 million people in America are suffering from Psoriasis, and more than 1500,000 new cases are coming every year in the US.
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Apart from this region, the second-largest market is held by the European psoriasis treatment market in 2018 and is further estimated to grow fastest during the analysis period. This region is expanding because of the increasing geriatric population and increasing participation of the prominent market players of the region. Further, it has been found that the least psoriasis treatment market share has been generated by the Middle East & Africa regional market because of the less awareness among the people and the low economic developments in the region.
Psoriasis Treatment Industry News
In November 2021, the European Commission gave approval to the prominent player AbbVieinc.for its SKYRIZI subcutaneous injection. It has aimed to treat active psoriatic arthritis.
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