Market Insights:
Psoriasis is a highly common chronic skin condition. Market Research Future's (MRFR) in-depth market report on the global psoriasis treatment market Size has disclosed that the market is anticipated to witness a promising CAGR of 7.3% during the forecast period of 2016 to 2022. The social stigma and discomfort that is associated with psoriasis is expected to promote swift market growth. Valued at USD 7 Bn at the beginning of 2016, the global market is expected to witness increased revenue which results in an approximate evaluation of over USD 10 bn by the end of the assessment period.
Rising awareness and screening for psoriasis is the leading factor driving growth in the demand for psoriasis treatment. This chronic condition is exacerbated by several factors which can vary from patient to patient, thus further increasing the demand for appropriate and effective treatment options. Increasing exposure to chemicals and polluted environments have resulted in an increase in the diagnosis of psoriasis. Presently, all treatment options are temporary in nature or need ongoing patient involvement with no concrete cure. Drugs for psoriasis treatment carry a high cost which will hamper market growth. However, increasing adoptions of alternative psoriasis treatments, and the race among market players to develop an effective psoriasis treatment solution will lead to market opportunities.
Market Segmentation:
The global psoriasis treatment market is segmented in MRFR's competitive analysis on the basis of mechanism of action, route of administration, drug types, and region. Based on mechanism of action, the market is segmented into interleukin blockers, phosphodiesterase inhibitors, TNF inhibitors, and others.
By route of administration, the market is divided between oral, injectable, and topical. Oral treatment options are highly popular and capture around 40% of the global market.
On the basis of drug types, the market is segmented into biologics and small molecules.
Globally, the market is divided into the Americas, Europe, Asia-Pacific (APAC), and the Middle East and Africa.
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Regional Analysis:
Due to the presence of North America, the Americas account for the largest share of the global market. The presence of several market players and a high patient population afflicted with psoriasis is expected to lead to increased revenue generated for market growth. Moreover, the awareness about this condition is quite high in the region and has led to an increased demand for effective treatment options. Increasing R&D activities to develop a long-term solution for psoriasis is expected to facilitate market expansion opportunities.
Meanwhile, the Asia Pacific is the fastest growing region due to the swiftly developing healthcare sector and the growing awareness regarding conditions like psoriasis which has resulted in increased demand. The affinity for natural skin care methods is expected to reveal effective alternate treatment strategies that may assist future market growth.
Key Players:
Market leaders who participate in the competitive landscape of the global psoriasis treatment market include Eli Lilly, Novartis International AG, Johnson & Johnson, Pfizer Inc., Merck and Co Inc., Amgen and AbbVie.
Latest Industry News
Eli Lilly & Company in Korea has received government approval from the Ministry of Health & Welfare for the reimbursement for its psoriasis treatment drug Taltz.
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Market Overview:The global psoriasis treatment market size is anticipated to touch USD 37,634.2 million by 2026 owing to the increasing number of psoriasis cases.
These include non-melanoma skin cancer, psoriatic arthritis, lung cancer, depression, metabolic syndrome, cardiac disorders, COPD (chronic obstructive pulmonary disease), and others.
As per this report titled, “Psoriasis Treatment Market Size, Share and Industry Analysis By Drug Class (TNF Inhibitors, Interleukins, Others), By Type (Plaque Psoriasis, Psoriatic Arthritis, Others), By Route of Administration (Oral, Parenteral, Topical), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online pharmacies), and Regional Forecast 2019-2026,”According to this report, the market value stood at USD 18,378.0 million in 2018 and will exhibit a CAGR of 9.4% between 2019 to 2026.Request a Sample Copy of the Research ReportCOVID-19 ImpactThe on-going corona virus pandemic has created an unprecedented health and economic crisis globally.
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This, coupled with the delays associated with clinical management may also hamper the overall market size.Nevertheless, heavy investments in research and development for treating psoriasis and a rise in penetration of innovative products will create better growth opportunities in the near future.Quick Buy Psoriasis Treatment MarketSegment-TNF Inhibitors Segment to be Overpowered in Forecast Years Due to Declining Prices of Branded ProductsBased on segmentation by drug class, the TNF inhibitors segment was dominating the market in the past.
Psoriasis Treatment Market by Drug Class [Tumour Necrosis Factor Inhibitors (Adalimumab, Infliximab and Etanercept), Interleukin-Inhibitors (Ustekinumab, Secukinumab, Ixekizumab and Brodalumab), Vitamin D Analogues (Calcitriol, Calcipotriol and Tacalcitol)], Treatment Type {Topicals [Over-the-counter (OTC) Topicals, Topical Non-Steroids and Topical Steroids], Systemic (Retinoid, Cyclosporine and Methotrexate), Biologics [Tumour Necrosis Factor Alpha (TNF-α) Inhibitors, Interleukin 12 and 23 (IL-12/23) Inhibitors, Interleukin 17 (IL-17) Inhibitor, T cell Inhibitor]} - Forecast till 2027Market SnapshotAs per the analysis by Market Research Future Reports (MRFR), the global psoriasis treatment market is anticipated to garner the market value of USD 13.1 billion, expanding at a CAGR of 7.3% during the assessment period from 2019 to 2025.The psoriasis condition is estimated to be driven by environmental and genetic factors.
The psoriasis treatment market 2020 is predicted to be majorly boosted by the rising awareness regarding the treatment, along with better healthcare infrastructure.
Further, the adoption of a sedentary lifestyle, increased alcohol consumption, smoking, and an unhealthy diet are some of the other vital factors augmenting the global market.
Nevertheless, the growing adoption of alternative psoriasis treatments and the prevailing competition among the key players is projected to enhance the psoriasis treatment market considerably.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/2769 Market SegmentationThe segment evaluation of the global psoriasis treatment market is done by treatment type and drug class.The global market for psoriasis treatment, by drug class, is segmented into Interleukin-inhibitors, tumor necrosis factor inhibitors, and vitamin D analogs.
Moreover, tumor necrosis factor inhibitors are segmented into infliximab, adalimumab, and etanercept.
Vitamin D analogs are segmented into calcipotriol, calcitriol, and tacalcitol.The global market for psoriasis treatment, by treatment, is segmented into systemic, topicals, and biologics.
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Hence, the opportunities for consumption remains worthy for players in the global psoriasis treatment market in the coming years.
The current drug pipeline appears to be promising and any launch in the next few years will have a significant impact on the growth of the global psoriasis treatment market.Read Report Overview - https://www.transparencymarketresearch.com/psoriasis-treatment-market.htmlTransparency Market Research has recently published a report on the global psoriasis treatment market.
The potential players in the global psoriasis treatment market include LEO Pharma, AbbVie, AstraZeneca, Pfizer, and Biogen.Rise in Psoriasis Cases to Favor GrowthThe overall number of cases of psoriasis has steadily increased.
This has been one of the largest factors for growth in the global psoriasis treatment market.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=17960While there has been general awareness among the public, governments across the world have taken initiatives to help people suffering from these conditions, especially in the rural areas.
Consistent campaigns and efforts to ensure people from the rural and deeper areas where the access to healthcare is poor, has raised the demand for products in the global psoriasis treatment market.Favorable Healthcare System to Augment Growth in North AmericaUndoubtedly the developed healthcare system in North America, especially the United States, favors growth for the global psoriasis market.
These aspects have a substantial impact on the growth of the global psoriasis treatment market.Request COVID Analysis on Psoriasis Treatment Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=17960Besides North America, Europe and Asia Pacific will also remain important for players in the global psoriasis treatment market.
