The size of the European Psoriasis Drugs Market is expected to worth USD 4.23 billion by 2027 from USD 2.96 billion in 2022, showcasing a CAGR of 7.36% from 2022 to 2027.
Psoriasis is no communicable inflammatory skin condition that alters the life cycle of skin cells by speeding up the growth of cells on the skin's surface. The rapid development of cells produces thick, silvery scales and makes the skin red, dry, flaky, and itchy. Currently, no permanent cure is available for the disease,
However, preventative measures can be adopted to slow down skin cells' growth on the surface of the skin. Psoriasis can be treated either with pharmaceuticals or biopharmaceuticals therapies through the topical and systemic process.
These medications are administered either by applying on the skin or consumed orally or through injections that specifically block parts of the immune system by specifically targeting Tumor Necrosis Factor, Phosphodiesterase Type 4, Interleukin, among others. In Europe, approximately 3.7 million people are affected by psoriasis as per the European Federation of Pharmaceutical Industries and Associations.
The growth of the Psoriasis Drugs market is majorly driven by factors such as increasing public awareness, approval of new drugs (interleukin-17 inhibitor, Taltz - ixekizumab by Eli Lily), and boost in psoriasis Research and Development investment. The key restraints of the market are the high cost involved in drug development, patent expiry of brand name drugs, side effects from the systemic and biologics medication, and health insurance issue.
This research report on the European Psoriasis Drugs Market has been segmented and sub-segmented into the following categories:
By Drug Type:
By Route of Administration:
Prominent companies dominating the European 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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