“The Global Psoriasis Treatment Market poised to reach US$ 20,388.2 Mn by 2023 with a significant CAGR over the forecast period (2018-2023) owing to increase in prevalence of the psoriasis conditions all across the globe”
Global Psoriasis Drugs Market
Global Psoriasis Treatment Market:
Psoriasis is a chronic autoimmune disease characterized by abnormal growth of the skin cells. It forms skin patches above the skin and it is not contagious. Psoriasis skin patches are red and itchy. There are different types of psoriasis namely guttate psoriasis, plaque psoriasis, pustular psoriasis, erythrodermic psoriasis and inverse psoriasis. Plaque psoriasis is common and constitutes about 90% of psoriasis cases. The diagnosis of psoriasis is typically made by obtaining information from the physical examination of the skin, medical history, and relevant family health history. Psoriasis affects skin over the elbows, knees, and scalp and is often itchy. Although any area may be involved, it tends to be more common at sites of friction, scratching, or abrasion. Currently, there was no cure for psoriasis. However, treatment is focused on curing the symptoms. Treatment may include steroid creams, vitamin D3 cream, UV light, and immunosuppressants.
Global Market Outline: Psoriasis Treatment Market
Global psoriasis treatment market is driven by increase in smoking and alcohol consumption trends globally. Increased spending on medicines and escalating health care expenditure are the key growth drivers of the market. Psoriasis treatment mainly treated by topical agents only. The recent launch of systemic products into the market expected to drive the growth of the market. However, high cost of the drugs and side-effects associated with the existing medication for psoriasis are expected to hinder the psoriasis treatment market during the forecast period.
Psoriasis treatment market segmented on the basis of drug class, type, route of administration, and distribution channel
Based on drug class, global psoriasis drugs market is segmented into
- TNF Inhibitors
- Vitamin D Analogues
- Interleukin Blockers
- Topical Corticosteroids
- Monoclonal Antibodies
Based on psoriasis type, global psoriasis drugs market is segmented into
- Plaque Psoriasis
- Guttate Psoriasis
- Flexural Psoriasis
- Inverse Psoriasis
- Psoriatic Psoriasis
Based on route of administration, psoriasis drugs market is segmented into
Based on distribution channel, psoriasis drugs market is segmented into
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Psoriasis treatment market is expected to show significant growth rate owing to prevalence rates and severity of the disease. According to World Health Organization (WHO), 1.3%-34.7% of psoriasis patients develop chronic psoriatic arthritis, which may lead to joint deformations and disability. World Health Organization (WHO) also predicts that psoriasis affects about 100 million people with prevalence rates of 0.09% to 11.43% in different countries. The most common type of psoriasis is plaque psoriasis, affecting 90% of all psoriasis cases. Market players are focusing on R&D to develop new drugs and treatments for psoriasis. The market has a handful of drugs and dominated by generics and biologics. Market players heavily influencing the treatment decisions. Due to the entry of biosimilars into the market, there is availability of cheaper drugs to treat psoriasis and it leading to increased availability and increase market size. In addition, market has drug pipelines which are expected to boost the psoriasis treatment market during forecast period.
Geographically, global psoriasis treatment market has been segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounts largest market in the global psoriasis treatment market due to high prevalence of the disease. According to American Academy of Dermatology, approximately 7.5 Mn people in the United States have psoriasis. In Europe, the psoriasis treatment market is expected to grow at significant rate due to factors such as increased prevalence and growing awareness about skin diseases and recent launch of biosimilars such as elerzi, amzevita. In Asia-Pacific region, India and China are expected to be fastest growing market due to developing infrastructure and rapid growth in awareness and available treatment options for psoriasis.
Some of the market players in global psoriasis treatment market include Amgen Inc. (U.S), Eli Lilly and Company(U.S), Novartis AG (Switzerland), Merck & Co., Inc. (U.S), Johnson & Johnson Services, Inc., (U.S) Pfizer, Inc. (U.S), AstraZeneca (U.K), AbbVie Inc. (U.S), LEO Pharma A/S (Denmark) and Biogen (U.S) to name a few.
- In July 2017, Janssen Biotech, Inc.’s tremfya (guselkumab) approved by U.S. Food and Drug Administration (FDA) for the treatment of adults living with moderate to severe plaque psoriasis
- In February 2017, US Food and Drug Administration (FDA) approved siliq(brodalumab) injection for the treatment of adult patients with moderate-to-severe plaque psoriasis. This drug was developed by Valeant Pharmaceuticals by partnering with AstraZeneca
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