Share on

Global Psoriasis Drugs Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Drug Type, Route of Administration, Target & Region – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 1635
Pages: 182

Global Psoriasis Drugs Market Size (2022 to 2027)

The size of the global psoriasis drugs market is expected to be worth USD 13.35 billion by 2027 from USD 9.39 billion in 2022, growing at a CAGR of 7.30% from 2022 to 2027. Expanding awareness concerning the treatment and rising interest for improved health care structure are some of the major factors driving growth to the global psoriasis drugs market.

Psoriasis is a persistent provocative skin problem; it is caused by hereditary air and other natural components. The immune framework plays a significant part being the development of psoriasis. It affixes the existing pattern of skin cells. In psoriasis, cells will, in general, form quickly on the outside of the skin. The extra dermal cells structure scales and red patches, which are bothersome and create itching. Psoriasis drugs include skin creams, oral medicines, and injectables.

MARKET DRIVERS:

A more extensive base of patients who are undergoing psoriasis is propelling global psoriasis drug market growth. Growing investment in developing innovative products in developed and developing countries is estimated to raise market growth. The increasing knowledge among the population and the treatment available for various health disorders drive the demand of the global psoriasis drugs market.

Increasing demand for improved healthcare infrastructure is the primary factor for the psoriasis drug market to grow. Growing disease burden and authority for medicines in existing economies and an increase in merging or joining therapies are also solely to level up the growth rate of the global psoriasis drugs market.

The rise in the incidences of various health disorders worldwide is lucrative to create growth opportunities for the global psoriasis drugs market. Increasing investments in healthcare by public and private sectors is also one factor leveling up the growth rate of the market.  An excellent opportunity for several key players to enter the psoriasis treatment market allows research and development centers to develop innovative products.

MARKET RESTRAINTS:

The high expense of psoriasis treatment is a limitation for the growth of the global psoriasis drugs market. As per a study directed by JAMA Dermatology in 2019, the normal psoriasis medicines with biologics are expensive, pricing between USD 10,000 to USD 25,000 per year. The high cost is due to patent securities are forestalling numerous elective medications. The high cost of psoriasis treatment is a limitation for the psoriasis market.

The person or organization (payers) faces challenges deciding which treatment is average to very significant psoriasis to include on their formularies. The report covers the present challenges that are connected with each primary psoriasis treatment strategy.

Impact of COVID-19 on the global psoriasis drugs market:

COVID-19 is a pandemic declared by the World Health Organization (WHO). There is an increasing number of people with coronavirus across the world. The global psoriasis drugs market has been slightly affected by the spread of the COVID 19 worldwide. Governments have imposed strict lockdown guidelines in their respective countries to curb the transmission of the disease, which lead to disrupted supply chain and manufacturing units. Though the pharmaceutical companies have increased the production rate due to a ban on flights and restrictions on movement, the growth rate of the psoriasis drugs market has declined in the lockdown period. But with the unlock guidelines by the government, the market has started to grow at a higher rate in the last months of 2020. Researchers estimated that the market would fall into the normal state by the end of 2021. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Analysed

By Drug Type, Route of Administration, Target & Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Analysed

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa

 

This research report on the global psoriasis drugs market has been segmented and sub-segmented based on drug type, route of administration, target, and region.

Psoriasis Drugs Market - By Drug Type:

  • Pharmaceuticals
  • Biopharmaceuticals

Based on the drug type, the pharmaceutical is expected to lead the global market due to the rising scale of the hospitals and increasing patient pool. The biopharmaceuticals segment is positioned second in leading the dominant shares of the market.

Psoriasis Drugs Market - By Route of Administration:

  • Topical
  • Systemic
    • Oral
    • Intravenous
    • Others

Based on the route of administration, the topical segment is the first line of treatment of psoriasis. With the rising awareness over the availability of different treatment procedures, this segment is expected to lead and register healthy growth during the forecast period. For better results, these topicals are used in a single with a combination of other therapies. When the topical treatment fails, or the patient doesn’t respond, Systemic drugs are used.

The systemic segment is growing at a higher rate for the past few years and has a significant CAGR in the near future. 

Psoriasis Drugs Market - By Target:

  • Tumour Necrosis Factor (TNF)
  • Phosphodiesterase Type 4 (PDE4)
  • Interleukin

Based on the target, the Tumour necrosis factor segment is gaining traction over the market shares in the forecast period. Growing incidences of cancer and rapid adoption of advanced technologies are propelling the growth rate of the market.

Psoriasis Drugs Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Geographically, the North American market is expected to command a significant share in the global psoriasis drugs market during the forecast period, followed by Europe in the global psoriasis drugs market. The market strength of the district is resultant of the high selection of therapeutics, progressed medical care system, and high awareness about the condition. In North America, the United States holds the biggest share. This can be significantly present to the expanding prevalence of psoriasis, the presence of great government activities, the presence of created medical care structure, high reception of therapeutics, and the presence of key medication producers. 

The Asia Pacific market is anticipated to be the fastest-growing region for the product, with a CAGR of 8.24%. The amount of development saw by the area is attributed to a rise in awareness relating to the meaning of early diagnosis of the illness and neglected medical services requirements of healthcare clients that are giving new freedoms to the market in this region.

KEY MARKET PLAYERS:

Companies that are playing a promising role in the global psoriasis drugs market profiled in the 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).

RECENT HAPPENINGS IN THIS MARKET:

In November 2019, Amgen (NASDAQ: AMGN) announced its completion of obtaining of overall rights to Otezla® (apremilast), the solitary oral, non-biologic treatment for moderate-to-serious plaque psoriasis and psoriatic joint pain. Otezla was obtained from Celgene Corporation (NASDAQ: CELG) regarding its recently declared consolidation with Bristol-Myers Squibb Company (NYSE: BMY), which was completed.

Please wait. . . . Your request is being processed

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 4255

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

Click for Request Sample