The Global Psoriasis Drugs Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Global Psoriasis Drugs Market is predicted to rise to USD 10.8 billion with a CAGR of 7.30% from USD 7.6 billion in 2016. The global Psoriasis Drugs Market is segmented on the basis of Drug Type, Route of Administration, and Target. Based on Drug Type, the market is classified into Pharmaceuticals and Biopharmaceuticals. On the basis of Route of Administration, the market is classified into Topical and Systemic (Oral, Intravenous, and Others). On the basis of Target, the market is classified into Tumour Necrosis Factor (TNF), Phosphodiesterase Type 4 (PDE4), Interleukin, and Others
The growth of Psoriasis Drugs market is majorly driven by factors such as rising healthcare expenditure, boost in psoriasis Research and Development investment, introduction of novel and more efficient drug, and increasing demand of psoriasis medicines in emerging economies. Additionally, psoriasis requires long term treatment as it can reoccur after the first line treatment, thereby increasing sales revenue. Also, with the availability of better diagnostic devices will result in building confidence in people, thereby resulting in increasing treatment-seeking population. People seeking treatment for Psoriasis are also showing interest in combination therapies. A combination therapy of Topical and Systemic (Alefacept, etanercept, and others taken with methotrexate) have shown better results in patient. Expected entry of late-stage pipeline products (Xeljanz and the biosimilar adalimumab by Pfizer) are anticipated to accelerate the growth of the product. The key restraints of the market are high cost involved in drug development, patent expiry of brand name drugs, increasing availability of generic products, side effects from the systemic and biologics medication (high blood pressure, liver and kidney damage, infection, and cancer of the lymph nodes), lack of access to healthcare, health insurance issues, and low efficacy of the product.
North America is expected to command the major market share of 41% in 2016 followed by Europe. Asia Pacific is anticipated to be the fastest growing region for the product with a CAGR of 8.24% during the forecast period 2016-2021.
The major companies dominating the global Psoriasis Drugs market are Johnson & Johnson (USA), Novartis International AG (Switzerland), Pfizer Inc (USA), Merck and Co. Inc (USA), Celgene Corporation (USA), Janssen Biotech Inc (USA), Stiefel Laboratories Inc (USA), Takeda Pharmaceutical Company Limited (Japan), Amgen (USA), and AbbVie (USA)
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