Psoriasis Treatment Market : Global Share, Size, Growth, Trends & Outlook ( 2022 – 2032 )
Healthcare & PharmaceuticalRequest PDF Sample Request Discount
- Status : Published
- Published on: Feb 2023
- Report ID: KDMI-7153
- Available Format: PDF/Excel/DOC
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Psoriasis Treatment MarketRequest PDF Sample
Psoriasis Treatment Market Insights:
Psoriasis Understanding and Treatment Algorithm
Psoriasis is a chronic skin condition that causes the surface of the skin to rapidly accumulate cells. The severity of psoriasis and the specific symptoms a patient is experiencing determine the treatment strategy. Topical creams and ointments containing corticosteroids, vitamin D analogs, and retinoids can be used to treat mild psoriasis. Mild psoriasis can also be treated with phototherapy, also known as light therapy.
Systemic therapy, such as oral or injectable medications, may be necessary for moderate to severe psoriasis. These may include biologic medications like adalimumab, etanercept, and ustekinumab in addition to conventional systemic therapies like methotrexate and acitretin. Psoriasis can be managed through lifestyle changes as well as medication. Maintaining a healthy weight and diet, managing stress, and quitting smoking are examples.
For a precise diagnosis and individualized treatment plan, psoriasis patients should visit a dermatologist. It is recommended that follow-up appointments be scheduled regularly to evaluate the treatment's efficacy and make any necessary adjustments.
Psoriasis treatment emerging drugs
Several emerging drugs for the treatment of psoriasis treatment are currently being developed or are in late-stage clinical trials. These drugs include:
- Bimekizumab: The immune system's interleukin-17A and interleukin-17F cytokines, which cause psoriasis, are the target of the monoclonal antibody-based Bimekizumab. It has shown its efficacy in treating psoriasis in clinical trials and may act more quickly than other medications currently on the market.
- Roflumilast cream: Roflumilast cream, a phosphodiesterase-4 (PDE4) inhibitor, is used topically. Due to their anti-inflammatory qualities, PDE4 inhibitors might be useful in the treatment of psoriasis.
- Tirbanibulin: The topical medication Tirbanibulin inhibits the protein kinase C (PKC) pathway, which controls the growth of psoriasis skin cells with minimal risk of side effects during trials and is helpful in treating psoriasis.
- Gusacitinib: An inhibitor of Janus kinase (JAK), Gusacitinib blocks specific signaling pathways to prevent the immunological response that results in psoriasis. Clinical trials have shown that Gusacitinib is effective in treating psoriasis and may have a decreased risk of side effects when compared to other JAK inhibitors that are currently available.
- Vixarelimab: Vixarelimab is a monoclonal antibody that targets the protein semaphorin 4D, which is involved in the immunological response that results in psoriasis.
Psoriasis Treatment Market Size
The market for psoriasis treatment worldwide was worth $12.8 billion in 2021 and is projected to reach $32.5 billion by 2032, growing at a CAGR of 8.8% between 2022 and 2032.
Psoriasis Treatment Market
Due to several factors, including the rising prevalence of psoriasis, the rising demand for biologic drugs, and the development of new drugs and therapies, the global market for psoriasis treatment is anticipated to expand significantly in the coming years. Products like phototherapy (light-based therapy), systemic therapies like oral medications and injections, and topical treatments like creams and ointments make up the market. AbbVie, Amgen, Eli Lilly and Company, Johnson & Johnson, Novartis, Pfizer, and Sun Pharmaceutical Industries are among the market leaders in the treatment of psoriasis. There is a lot of competition in the market, and new drugs and therapies are being developed and approved for use all the time.
Psoriasis Treatment Market Driving Factors:
Several factors are driving the growth of the Psoriasis treatment market:
- Increasing incidence of psoriasis: Treatments for psoriasis are in high demand as a result of the worldwide rise in the incidence of the disease.
- Advances in treatment options: The market is expanding because such as biologics and small-molecule drugs are being developed to treat psoriasis. Patients with psoriasis should have a better chance of survival thanks to these treatments, which have demonstrated promising results in clinical trials.
- Growing geriatric population: The number of older people around the world is growing, and older people are more likely to get psoriasis treatment. The demand for treatment markets for psoriasis is being driven by this.
- Increase in healthcare expenditure: The Psoriasis treatment market is anticipated to expand due to rising healthcare costs worldwide. Investment in research and the creation of novel psoriasis treatment therapies is being fuelled by rising healthcare costs for both public and private entities.
- Increase in awareness: Market expansion is anticipated to be fuelled by rising psoriasis treatment awareness and the availability of novel therapies. The need for therapies for psoriasis treatment is being driven by rising illness awareness and the presence of efficient cures.
- Increase in R&D investments: The market for treatments for psoriasis treatment is anticipated to rise as a result of pharmaceutical and biotech businesses investing more money in research and development.
Psoriasis Treatment Market Segmentation:
The Psoriasis Treatment market can be segmented based on the followings:
- By drug class: Topical treatments, Light therapy, Systemic treatments, Biologics
- By route of administration: Oral, Topical, Injectable
- By indication: Plaque psoriasis, Guttate psoriasis, Inverse psoriasis, Erythrodermic psoriasis, Pustular psoriasis.
- By end-user: Hospitals, Clinics, Homecare
- By region: North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa
- By age group: Paediatric, Adult
Psoriasis treatment market regional synopsis
The psoriasis treatment market is segmented by region, including North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America is anticipated to dominate the global psoriasis treatment market mainly due to the high prevalence of psoriasis and the availability of cutting-edge treatment options in the region High healthcare expenditures, a sizable patient population with psoriasis, and supportive reimbursement rules all contribute to the market's growth in the US.
Due to the prevalence of psoriasis and the availability of cutting-edge treatment options, Europe is also anticipated to hold a significant share of the global psoriasis treatment market. The presence of a large number of psoriasis patients, rising healthcare costs, and favorable reimbursement policies further propel the region's market.
With the rising healthcare costs and government efforts to raise public awareness of psoriasis in the region, the Asia-Pacific psoriasis treatment market is anticipated to expand at a significant rate. The presence of a large number of psoriasis patients, rising healthcare costs, and favorable reimbursement policies further propel the region's market.
With the rising prevalence of psoriasis, rising healthcare costs, and government initiatives to raise psoriasis awareness in the region, the psoriasis treatment markets in Latin America, the Middle East, and Africa are anticipated to expand at a moderate rate. However, the region's market expansion may be hindered by a lack of advanced treatment options and healthcare infrastructure.
Psoriasis Treatment Challenges
There are several challenges facing the Psoriasis treatment market.
- Adverse effects and limited efficacy of treatment: Some psoriasis treatments, such as systemic medications, can cause significant side effects, which may discourage patients from continuing treatment A major obstacle for the market is the limited efficacy of the treatments.
- High cost of treatment: The cost of treating psoriasis can be high, and many patients might not have access to quality medical care or insurance. The high cost of Psoriasis treatments, especially for novel targeted medicines and immunotherapies, is a significant commercial problem.
- Lack of awareness: A major obstacle for the market is that people, particularly in developing nations, are unaware of psoriasis treatment and its symptoms leading to lead to delayed or incorrect diagnosis and treatment.
- Lack of early detection methods: The efficiency of available treatment options is presently limited by the lack of a good early diagnosis tool for psoriasis.
- Limited access to healthcare: In many parts of the world, particularly in low-income nations, healthcare access is a major issue, making Psoriasis treatment options scarce.
- 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 Industry Developments
The market for treatments for psoriasis treatment has seen several recent developments. The following are some significant industry developments:
- Biologic therapies: Biologic medicines including adalimumab, etanercept, and ustekinumab have gained popularity in the treatment of psoriasis as they target certain immune system proteins and cells involved in the development of psoriasis, allowing for more precise and effective treatment.
- Small-molecule drugs: Small-molecule medicines like apremilast can target certain enzymes that are involved in the onset of psoriasis, making therapy more targeted and effective.
- Combination therapies: The popularity of combination therapies, such as phototherapy and topical medications, which combine multiple treatment methods to produce a more efficient course of treatment, has increased.
- Personalized medicine: Utilizing genetic testing, personalized medicine identifies the psoriasis patient's specific genetic mutations, enabling more precise and individualized treatment.
- Telemedicine: Psoriasis patients now have greater access to treatment no matter where they live thanks to the growing popularity of telemedicine. Consultations, monitoring, and remote management of psoriasis can all be done through telemedicine.
- Artificial intelligence: Analyzing patient data and providing more precise psoriasis diagnosis and treatment recommendations are becoming increasingly common applications of artificial intelligence.
Psoriasis Treatment Market Key Players
There are several key players in the psoriasis treatment market, including:
- AbbVie: Humira (adalimumab), Skyrizi (risankizumab-rzaa). Market share: 30%
- Amgen: Enbrel (etanercept), Otezla (apremilast). Market share: 14%
- Eli Lilly and Company: Taltz (ixekizumab), Olumiant (baricitinib). Market share: 13%
- Johnson & Johnson: Stelara (ustekinumab), Tremfya (guselkumab). Market share: 12%
- Novartis: Cosentyx (secukinumab), Siliq (brodalumab). Market share: 12%
- Pfizer: Xeljanz (tofacitinib). Market share: 3%
- Sun Pharmaceutical Industries: Ilumya (tildrakizumab-asmn). Market share: 1%
Custom Research Requirement? Questions to ask?Get in touch
Custom Research requirement.