Global Psoriasis Treatment Market was valued at USD 16.7 billion in the year 2019. Rising prevalence of psoriasis affected people, rise in research and investments in developing biological treatment, rise in awareness of psoriasis coupled with the rising demand for healthcare products are the major factors impelling the market growth. Major growth in the forecast period is likely to be demonstrated from the various drugs that are in the clinical stages and would be available commercially in the next 3-5 years. This includes among others, the most promising ARQ-154 Foam for scalp psoriasis, from the US biotechnology company, Arcutis, which has the potential to become a billion-dollar opportunity for the treatment of psoriasis.
Genetic disposition, rising geriatric population and increasing government initiatives creating psoriasis awareness have been anticipated to infuse growth in the market for Psoriasis during the forecasting period of 2020-2025. Factors such as rising geriatric population, practice of unhealthy lifestyle such as heavy consumption of alcohol, smoking tobacco, enaction of immunity framework, stress and sunburn are crucial factors are supposed to trigger Psoriasis and Psoriasis arthritis that is consequently accelerating the demand for Psoriasis treatment and medication. The growth of the market is hampered in 2020 due to the occurrence of coronavirus pandemic in which all worldwide business activities are put at hold for the first few months of the year. IPC recommended physicians to discontinue or postpone use of immunosuppressant medications for the psoriasis patients, which is negatively affecting the Psoriasis drugs market growth. However, as per National Psoriasis Foundation the Medicare extended its inclusion of telehealth administrations in amid COVID-19 pandemic due to which the treatment has been resumed and the drug market has been supported in few first few months of 2020 that are anticipated to recover and accelerate the demand for the treatment in the coming years.
Under the Type Segment, Plaque Psoriasis is the most common type of psoriasis and dominates the overall psoriasis market. The developing number of advanced medicines for the treatment of plaque psoriasis by the key players is augmenting the demand for enhanced medication.
The continual research and development in a number of biologics and biosimilars by the drug developing companies are expected to propel market demand of biologics treatment method for psoriasis. Among the regions, North America is followed by and Europe and Asia Pacific. Asia Pacific region is the most attractive region for the growth of Psoriasis treatment owing large targeted population base coupled with increasing healthcare spending, prevalence of psoriasis or psoriatic arthritis patients, rise in government contribution and awareness programs.
Scope of the Report
- The report analyses Psoriasis market By Value
- The report analyses Psoriasis Market By Type (Plaque Psoriasis, Inverse Psoriasis, Guttate Psoriasis, Pustular Psoriasis, Erythrodermic Psoriasis)
- The report assesses the Psoriasis market By Treatment Method – (Biologics, Systemic Treatment, Topical Treatment, Others).
- The Global Psoriasis Market has been analysed By Region (North America, Europe, Asia Pacific) and By Country (US, Canada, Norway, UK, Spain, Germany, China, India, South Korea, Japan).
- The key insights of the report have been presented through the attractiveness of the market has been presented By Type, By Treatment Method and By Region. Additionally, the major opportunities, trends, drivers, challenges and pipeline products of the industry has been analysed in the report.
- The companies analysed in the report include UCB, Sun Pharmaceutical Industries LTD, Boehringer Ingelheim, Almirall, Bausch Health, Abbvie Inc, Eli Lilly and Company, Pfizer Inc., Amgen Inc., Johnson & Johnson.
- The report presents the analysis of Psoriasis market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
- AD and Psoriasis Drug Developers
- Pharmaceutical and Biotechnology Companies
- Consulting and Advisory Firms
- Government and Policy Makers
- Investment Banks and Equity Firms
- Regulatory Authorities