Market Overview:
Psoriasis is a chronic inflammatory skin disease connected with systematic manifestation. The Psoriasis Treatment Market will notice massive growth due to the rise in the number of psoriasis cases. The demand for better treatment is a growing trend that is driving the market. The market will show a higher growth rate due to the growing research and development activities for the better treatment of the disease. The awareness about the availability of treatment procedures is also propelling the market. The concern among the patients to know about the treatments and the growing medical expenditure is a major driver.
The major growth factors contributing to the Psoriasis Treatment Market are research and development activities for treatment and events and programs for implementing advanced technology.
The Psoriasis Treatment Market is noticing wide opportunities at the global level due to the increase in the prevalence of psoriasis, which is contributing highly to the growth. Some regions are showing serious health problems due to psoriasis, which is aiding the market towards growth. The disease has become a global concern.
The Psoriasis Treatment Market will reach a 7.3 % CAGR and a value of USD 13.1 billion by 2025 in the forecast period.
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Market Segments:
The Psoriasis Treatment Market is segmented into drug class and treatment type.
The drug class segment is categorized into tumor necrosis factor inhibitors, interleukin inhibitors, and vitamin D analogs. The tumor necrosis factor inhibitors are further divided into infliximab, adalimumab, and etanercept. The interleukin inhibitors are also divided into secukinumab, ixekizumab, ustekinumab, and brodalumab. Furthermore, the vitamin D analogs are classified into calcitriol, calcipotriol, and tacalcitol.
The treatment type segment for psoriasis is classified into topical, systemic, and biologics. Topical is sub-divided into counter OTC topicals, topical non-steroid, and topical steroids. The systemic segment consists of retinoid, cyclosporine, and methotrexate. The biologics are further categorized into tumor necrosis factor-alpha TNF-a, Interleukin-17, IL-17 inhibitors, and T-cell inhibitors.
Regional Analysis
The geographical analysis of the Psoriasis Treatment Market shows the major regions covered, such as the Americas, Asia Pacific, Europe, the Middle East, and Africa.
America will lead the psoriasis treatment market with higher trends among the above regions. The region is driving due to a rise in awareness of the treatment among people. The presence of chief industrial manufacturers and the prevalence of psoriasis are chiefly driving the market. Europe is noticing significant growth in the forecasted period as the second-largest share-holder.
The Asia Pacific will grow fastest in the forecasted period with the growing participation of prominent market players. The increased growth of the senior population is also driving its regional market. The Middle East in Africa will hold the least share of the market due to the lower economic developments and lack of awareness among the people in Africa.
Industry News
In April 2022, Alembic Pharmaceuticals announced that Aleor Dermaceuticals had got approval from the US health regulator for the treatment of plaque psoriasis.
The approval was granted by the US Food & Drug Administration (USFDA) for the abbreviated new drug application (ANDA) for Clobetasol Propionate foam, 0.05 percent.
Competitive Landscape:
The most important psoriasis key players operating in the global psoriasis treatment market are as follows-
Novartis International AG (Switzerland)
UCB (Belgium)
AstraZeneca (UK)
Celgene Corporation (US)
Johnson & Johnson (US)
Pfizer Inc (US)
Merck and Co. Inc (US), AbbVie (US)
Amgen (US)
and Eli Lilly and Company
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