Psoriasis Treatment Market By Drug Class (TNF Inhibitors, Interleukin Inhibitors, Vitamin D Analogs, Corticosteroids, and Others); By Route Of Administration (Oral, Parenteral/Systemic, Topical); By Type (Plaque Psoriasis, Psoriatic Arthritis, Others); By End-User (Hospital Pharmacy, Clinics, Retail Pharmacies, Online Sales); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Psoriasis Treatment Market Insights
Psoriasis is a chronic skin disease that reasons cells to rapidly accumulate at the pores and skin's surface. The psoriasis remedy strategy is determined through the severity of the ailment and the precise symptoms that a patient is experiencing. Topical lotions and ointments containing corticosteroids, diet D analogs, and retinoids can be used to deal with slight psoriasis. Moderate to severe psoriasis may require systemic therapy, such as oral or injectable medications. In addition to medication, lifestyle adjustments also can be useful in managing psoriasis. These can encompass quitting smoking, dealing with strain, and retaining a wholesome diet and weight.
Psoriasis Treatment Market Size and Share
The global psoriasis treatment marketplace is expected to grow due to different factors along with growth within the wide variety of patients with psoriasis, approval of recent biologic tablets for psoriasis, a promising pipeline of recent drugs, and stepped forward get entry to psoriasis treatment in improvement. This development is likely to create opportunities for businesses operating in the psoriasis treatment market to expand their operations and increase their revenue. The global Psoriasis Treatment marketplace become worth approximately USD 15.05 billion in 2022 and is projected to achieve USD 37.29 billion with the aid of 2032, with a compound annual fee of increase (CAGR) of 9.5% all through the forecast period (2023-2032). Some of the important thing gamers in the psoriasis treatment market include AbbVie Inc., Amgen Inc., Janssen Biotech, Inc., Novartis AG, Pfizer Inc., and Celgene Corporation.
Psoriasis Treatment Market: Report Scope |
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Base Year |
2022 |
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Base Year Market Size |
USD 15.05 billion |
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Forecast Year |
2023-2032 |
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Forecast Year Market Size |
USD 37.29 billion |
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CAGR Value |
9.5% |
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Segmentation |
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Challenges |
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Growth Drivers |
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Psoriasis Treatment Market Key Driving Factors
There are several driving factors contributing to the growth of the psoriasis treatment market:
- Increase in prevalence of psoriasis: The worldwide prevalence of psoriasis is growing. The prevalence of psoriasis is increasing globally, with an estimated 2-3% of the arena's populace affected. What's driving the demand for psoriasis remedies?
- Advancements in treatment options: The development of new and more effective treatments, such as biologics and small molecule drugs, is driving the growth of the psoriasis treatment market.
- Rising awareness about psoriasis: Increased awareness about psoriasis and its impact on quality of life is leading to greater demand for treatment.
- Growing geriatric population: The aging population is more susceptible to psoriasis, which is driving the growth of the psoriasis treatment market.
- Increase in healthcare expenditure: The increasing expenditure on healthcare is leading to greater access to treatments for psoriasis, driving the growth of the market.
- Government initiatives and reimbursement policies: Government initiatives to increase awareness about psoriasis and reimbursement policies for psoriasis treatment are also driving the growth of the market.
- Increase in research and development activities: Companies are investing more in research and development activities to develop more effective treatments for psoriasis, driving the growth of the psoriasis treatment market.
Psoriasis Treatment Market Key Trend & Development:
There are several key trends and development in the field of the psoriasis treatment market:
- Biologic therapies: Biologic therapies, such as adalimumab, etanercept, and ustekinumab, have become increasingly popular in the treatment of psoriasis. These treatment plans goal unique immune device cells and proteins that make contributions to the development of psoriasis, offering extra targeted and powerful treatment.
- Small molecule drugs: small molecule drugs, such as apremilast, have been developed to treat psoriasis. These drugs target particular enzymes involved in the improvement of psoriasis, presenting a more centered and powerful treatment.
- Combination therapies: Combination therapies, such as phototherapy combined with topical treatments, have become increasingly popular in the treatment of psoriasis. These treatment plans use a combination of different treatment modalities to provide more effective remedy.
- Personalized medicine: The use of personalized medicine in the treatment of psoriasis is becoming increasingly popular. This technique includes using genetic checking out to become aware of the particular genetic mutations that make contributions to the development of psoriasis in a person affected person, making an allowance for extra focused and personalized remedy.
- Telemedicine: Telemedicine has become increasingly popular in the treatment of psoriasis, providing patients with greater access to treatment, regardless of their location. Telemedicine can be used for consultations, monitoring, and remote management of psoriasis.
- Artificial intelligence: Artificial intelligence is being increasingly used to analyze patient data and provide more accurate diagnosis and treatment recommendations for psoriasis.
Psoriasis Treatment Market Segmentation:
The Psoriasis Treatment market can be segmented based on the following:
- By Drug Class
- TNF Inhibitors
- Interleukin Inhibitors
- Vitamin D Analogs
- Corticosteroids
- Others.
- By Route Of Administration
- Oral
- Parenteral/Systemic
- Topical
- By Type
- Plaque Psoriasis
- Psoriatic Arthritis
- Others
- By End-User
- Hospital Pharmacy
- Clinics
- Retail Pharmacies
- Online Sales
- By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Psoriasis Treatment Market Regional Synopsis
North America is predicted to dominate the worldwide psoriasis remedy market due to the high prevalence of psoriasis and the supply of advanced treatment alternatives in the region. By 2032, the market is predicted to be worth $11.46 billion, growing at a CAGR of 9.8% (2023-2032) against an earlier estimation of worth $4.515 billion in 2022.
Europe is also anticipated to keep a large share of the worldwide psoriasis treatment market due to the excessive prevalence of psoriasis and the supply of advanced treatment options. By 2032, the market is predicted to be worth $9.14 billion, growing at a CAGR of 9.3% (2023-2032) against an earlier estimation of worth $3.76 billion in 2022.
The Asia-Pacific psoriasis treatment market is anticipated to grow at a massive rate because of the increasing incidence of psoriasis, growing healthcare expenditure, and authorities’ initiatives to increase cognizance about psoriasis in the region. By 2032, the market is predicted to be worth $10.9 billion, growing at a CAGR of 12.2% (2023-2032) against an earlier estimation of worth $3.46 billion in 2022.
The Latin America and Middle East and African psoriasis treatment markets are expected to grow at a minor rate due to the growing occurrence of psoriasis, rising healthcare expenditure, and government tasks to increase attention about psoriasis inside the vicinity. However, the marketplace growth inside the area can be hampered by way of the shortage of healthcare infrastructure and restricted availability of superior treatment alternatives. By 2032, the market is predicted to be worth $6.31 billion, growing at a CAGR of 6.7% (2023-2032) against an earlier estimation of worth $3.3 billion in 2022.
Psoriasis Treatment Market Challenges
Despite the growth prospects of the Psoriasis Treatment market, several challenges could impact the development and commercialization of Psoriasis Treatment
- High cost of treatment: The cost of treatment for psoriasis, particularly for biologic drugs, can be high and may not be affordable for all patients.
- Limited access to treatment: Access to psoriasis treatment can be limited in some regions, particularly in developing countries, due to a lack of healthcare infrastructure and limited availability of specialized treatments.
- Side effects of treatment: Some psoriasis treatments, such as systemic medications, can cause significant side effects, which may discourage patients from continuing treatment.
- Lack of awareness and understanding: Despite the condition's rising prevalence, there is still a deficiency of knowledge and comprehension of psoriasis, which is capable of resulting in a delayed or inaccurate diagnosis and course of treatment.
- Stringent regulatory requirements: The psoriasis treatment market is subject to stringent regulatory requirements, which can slow down the approval and launch of new treatments.
- Competition from alternative therapies: The psoriasis treatment market faces competition from alternative therapies, such as herbal and traditional remedies, which can limit the uptake of modern treatments.
- Reimbursement scenario: The reimbursement scenario for psoriasis treatment varies across different countries and regions, which can affect the adoption and affordability of treatments.
Psoriasis Treatment Market Key Players
The psoriasis treatment market is a highly competitive market with a number of key players. Some of the major companies in the market include:
- AbbVie Inc.
- Amgen Inc.
- Janssen Biotech, Inc. (Johnson & Johnson)
- Novartis AG
- Pfizer Inc.
- Celgene Corporation (Bristol-Myers Squibb)
- Eli Lilly and Company
- Galderma S.A.
- GlaxoSmithKline plc
- Merck & Co., Inc.
Other players in the market include Sun Pharma, Biocon, Mylan, Sandoz, Suneva Medical, and more. These companies are also actively involved in the development and commercialization of products for psoriasis treatment and are also investing in R&D activities to develop new and innovative therapies.
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- Publication date: 25th January 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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