Psoriasis is a chronic autoimmune disease that causes skin cells to build up rapidly, resulting in itchy, red, scaly patches of skin. The psoriasis drugs market refers to the market for drugs used to treat this condition. The global psoriasis drugs market is expected to grow significantly in the coming years, driven by factors such as the increasing prevalence of psoriasis, the development of novel drugs, and the growing adoption of biologics in the treatment of psoriasis.
Worldwide sales of psoriasis drugs amounted to around US$ 11.37 Bn in 2021. The global psoriasis drugs market is predicted to progress at a CAGR of 6.5% to reach a valuation of US$ 21.48 Bn by 2031.
|Psoriasis Drugs Market Size (2021)||US$ 11.37 Bn|
|Projected Market Value (2031)||US$ 21.48 Bn|
|Global Market Growth Rate (2022-2031)||6.5% CAGR|
|Market Share of Top 3 Countries||35.6%|
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The global psoriasis drugs market is expected to grow at a significant rate during the forecast period, driven by factors such as increasing prevalence of psoriasis, growing acceptance of biologics as a treatment option, and increasing R&D in the field.
The market is segmented based on drug class, route of administration, and region. On the basis of drug class, the market is segmented into biologics, small molecules, and others. On the basis of route of administration, the market is segmented into oral and injectable. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
- Janssen Biotech, Inc.
- Novartis International Ltd.
- Amgen Inc
- Pfizer Inc.
- Takeda Pharmaceutical Company Ltd.
- Merck & Co, Inc.
- Abb Vie Inc.
- Eli Lilly and Company
- Boehringer Ingelheim GmbH
- Sun Pharmaceutical Industries Ltd
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The major players operating in the psoriasis drugs market include AbbVie Inc., Amgen Inc, Celgene Corporation, Janssen Biotech, Inc., and others. These players have adopted various strategies, such as partnerships, collaborations, and new product launches, to increase their share in the market.
In conclusion, the global psoriasis drugs market is expected to grow at a significant rate during the forecast period, driven by factors such as increasing prevalence of psoriasis, growing acceptance of biologics as a treatment option, and increasing R&D in the field. The major players operating in the market are focusing on strategies such as partnerships, collaborations, and new product launches to increase their share in the
Leading manufacturers of psoriasis drugs are focusing on launching new products and promoting their brands in order to gain maximum market share.
To boost product penetration, psoriasis medication manufacturers are focused on new marketing strategies. Companies continue to see approval and product launch as a critical component of their growth strategy. They are also concentrating on developing a value chain for major regional market, as well as developing new psoriasis drugs and long-term solutions.
In February 2021, Amgen announced the submission of a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for Otezla® (apremilast) for the treatment of adults with mild-to-moderate plaque psoriasis.
In April 2021, AbbVie announced that it has submitted applications seeking approval for SKYRIZI® (risankizumab-rzaa, 150 mg) to the U.S. Food and Drug Administration (FDA), and for SKYRIZI® (risankizumab, 150 mg) to the European Medicines Agency (EMA), for the treatment of adults with active psoriatic arthritis.
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Key Segments Covered in Psoriasis Drugs Industry Research
Psoriasis Drugs Market by Product:
Topical Psoriasis Drugs
Oral Psoriasis Drugs
Injectable Psoriasis Drugs
Psoriasis Drugs Market by Drug Class:
Tumor Necrosis Factor Inhibitors
Psoriasis Drugs Market by Distribution Channel:
Psoriasis Drugs Market by Indication:
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