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.
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.
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.
Market Size Available
2021 to 2027
2022 to 2027
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
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:
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:
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:
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:
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.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Drug Type
5.1.4 Y-o-Y Growth Analysis, By Drug Type
5.1.5 Market Attractiveness Analysis, By Drug Type
5.1.6 Market Share Analysis, By Drug Type
5.2 Route of Administration
5.2.4 Y-o-Y Growth Analysis, By Route of Administration
5.2.5 Market Attractiveness Analysis, By Route of Administration
5.2.6 Market Share Analysis, By Route of Administration
5.3.2 Tumour Necrosis Factor (TNF)
5.3.3 Phosphodiesterase Type 4 (PDE4)
5.3.6 Y-o-Y Growth Analysis, By Target
5.3.7 Market Attractiveness Analysis, By Target
5.3.8 Market Share Analysis, By Target
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Product
184.108.40.206 By Type
220.127.116.11 By Application
18.104.22.168 By Indication
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Type
184.108.40.206 By Application
220.127.116.11 By Indication
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Product
126.96.36.199 By Type
188.8.131.52 By Application
184.108.40.206 By Indication
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Johnson & Johnson
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Novartis International AG
8.3 Pfizer Inc
8.4 Merck and Co. Inc
8.5 Celgene Corporation
8.6 Janssen Biotech Inc
8.7 Stiefel Laboratories Inc
8.8 Takeda Pharmaceutical Company Limited
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
Talk to our analyst and get customised report done according to your research needs
Check if you can avail any discount. Submit your details and our team will get back to you.
Request to avail a free sample report that reflects this market and its growth.