The North America Psoriasis Drugs Market size is forecasted to grow USD 5.33 billion by 2027 from USD 3.82 billion in 2022, registering a CAGR of 6.91% from 2022 to 2027.
The North American psoriasis drugs market is forecasted to be driven by the rising prevalence of psoriasis patients. The immune system, genetics, and the environment all have a role in the development of psoriasis. Climate change, stress, and an unhealthy lifestyle have increased people living with psoriasis in recent years. The market is growing due to an increase in psoriasis research and pipeline medications and an increase in disease burden and demand for psoriasis treatments in this region. Patients who are afraid of needles now have options due to new medicines that may be taken orally. The disease's treatment focuses mostly on reducing inflammation and clearing the skin. Topical therapy is utilized for mild to severe psoriasis and is typically done on an individual basis. It is typically considerably more successful and safer to combine a biologic with a faster-acting systemic medication, such as cyclosporine. Many doctors prescribe combination treatments because they provide faster, longer-lasting benefits with fewer side effects and need lower doses, which is likely to drive the psoriasis drugs market in North America.
Furthermore, the growing prevalence of plaque psoriasis and psoriatic arthritis, the large pipeline of biologic and biosimilars medicines, favorable reimbursement policies, and increased prescription volume of biologic drugs contribute to the psoriasis treatment market's growth. The region's dominance is anticipated to persist during the forecast period due to high adoption of biological treatments, high R&D investment by regional companies on clinical trials for psoriasis management, and growth in long-term and preventive healthcare facilities.
However, factors such as the high cost of psoriasis therapy may restrict the North American psoriasis drugs market growth. In addition, the severe side effects of most existing medications are likely to hamper market expansion. Because people are avoiding dermatology clinics for psoriasis treatment, the market for psoriasis therapy is anticipated to slow down. Apart from limits on non-emergency medical treatments, new government laws in this region have led some businesses in the dermatological medication industry to stop operations, affecting the expansion of the market.
This research report on the North America Psoriasis Drugs Market has been segmented and sub-segmented into the following categories:
By Drug Type:
By Route of Administration:
During the forecast period, North America is likely to lead the psoriasis market. Because of the high incidence of psoriasis in North America, the United States has the highest market share. Psoriasis Prevalence among Children and Adolescents in the United States Furthermore established healthcare infrastructure, strong treatment acceptance, significant manufacturers, rising psoriasis incidence, high treatment adoption, significant drug manufacturers, and favorable drug manufacturers government efforts are boosting market expansion. All of these reasons are likely to boost the market in the US. In addition, the rising prevalence of psoriasis in North American countries is anticipated to increase demand for new and effective treatment options for psoriasis management. According to the National Psoriasis Foundation, psoriasis affects around 8 million people in the United States. People living with Psoriasis would have easier access to medical treatment due to robust healthcare reforms in the United States, which will drive market growth during the forecast period.
KEY MARKET PLAYERS:
A few of the noteworthy players operating in the North America psoriasis drugs market profiled in this report 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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