Changing lifestyle, rising awareness about the condition, and advancements in genetic medicine have resulted in boosting the Psoriasis Drugs market.
Market Size – USD 16.21 Billion in 2018, Market Growth – CAGR of 9.6%, Market Trends – The rising demand for Interleukin Inhibitors
The global psoriasis drugs market is forecast to reach USD 39.00 Billion by 2027, according to a new report by Reports and Data. Psoriasis can be defined as a skin condition, which accelerates the life cycle of skin cells. It results in cells to develop on the surface. It is usually considered to be a chronic condition. The condition has an unpredictable course of symptoms, significant comorbidities, and various external triggers impacting the condition that includes metabolic syndrome, arthritis, and cardiovascular diseases, among others. The immune system is considered to play an integral role in the condition. The condition also affects nails apart from skin. When a particular area on the skin is affected by the disease, the skin lesion is usually localized, which are sharply demarcated by plaques and red papules that are covered by silver or white scales. These lesions are generally symmetrical and cause stinging, itching, and pain. Herein the main aim of the treatment is to prevent the skin cells from growing quickly. There is no cure to the disease; however, these drugs help in managing the symptoms.
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In context to region, Europe can be seen to occupy a prominent market share. The market share held by the region is attributed to continuously developing healthcare sector, rising focus on management of not just the condition but comorbidities as well, which are supporting the market growth in this region.
Further key findings from the report suggest
- The Psoriasis Drugs market held a market share of USD 16.21 Billion in the year 2018 that is forecasted to grow at a rate of 9.6% during the forecast period.
- In context to Treatment Type, the Biologics segment generated the highest revenue of USD 6.32 Billion in the year 2018, with a growth rate of 9.9% during the forecast period. The ability of these drugs to treat the condition by targeting particular areas of the immune system thereby treating the condition form the base, results in its high acceptance among care providers that contributes to the revenue generated by this segment.
- In context to Therapeutic Class, the Interleukin Inhibitors segment is projected to witness the fastest growth rate of 10.3% during the forecast period, which is expected to occupy 27.5% of the market by 2027. The growth rate witnessed by the segment is attributed to the significant role it plays in the pathogenesis of plaque psoriasis, one of the most common form of psoriasis, which results in its elevated demand among care providers.
- In context to distribution channel, it is mentionable here that the E-commerce segment is projected to witness the fastest growth rate of 11.6% during the forecast period, which is expected to generate USD 7.80 Billion by 2027. The growth rate witnessed by the segment is resultant of continuous growth in the online medicine store and associated upsurge in online medicine shopping culture.
- In context to Application, the Plaque Psoriasis segment held the largest market share of 53.0% in 2018, with a CAGR of 9.7% during the forecast period. The high occurrence rate of the condition and associated increased demand for drugs and medications for treating the disease contributes to the market share occupied by this segment.
- In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 10.3% during the forecast, which is expected to hold 4% of the market by 2027. The growth rate witnessed by the region is resultant of rising awareness about the importance of early diagnosis of the condition and unmet healthcare needs of care users that are opening new avenues for the market in this region.
- Key participants include Amgen, Inc., AbbVie Inc., Novartis AG, Johnson & Johnson, AstraZeneca, Eli Lilly and Company, UCB, Celgene Corporation, Merck, and Sun Pharmaceutical Industries Ltd.
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For the purpose of this report, Reports and Data have segmented the global Psoriasis Drugs market according to Treatment Type, Therapeutic Class, Distribution Channel, Application, and Region:
Treatment Type Outlook (Revenue, USD Billion; 2016-2027)
- Topicals
- Systemic
- Biologics
Therapeutic Class Outlook (Revenue, USD Billion; 2016-2027)
- Tumor Necrosis Factor Inhibitor
- Interleukin Inhibitors
- Anti-Inflammatory
- Corticosteroids
Distribution Channel Outlook (Revenue, USD Billion; 2016-2027)
- Hospitals and Clinics
- E-commerce
- Retail Pharmacies
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Application Outlook (Revenue, USD Billion; 2016-2027)
- Plaque Psoriasis
- Guttate Psoriasis
- Nail Psoriasis
- Erythrodermic Psoriasis
- Pustular Psoriasis
- Intertriginous psoriasis
- Others
Regional Outlook (Revenue, USD Billion; 2016-2027)
- North America
- S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
Key Benefits of Buying the Global Psoriasis Drugs Report:
- Comprehensive analysis of the changing competitive landscape
- Assists in decision making processes for the businesses along with detailed strategic planning methodologies
- The report offers an 8 year forecast and assessment of the Global Psoriasis Drugs Market
- Helps in understanding the key product segments and their estimated growth rate
- In-depth analysis of market drivers, restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Psoriasis Drugs Market
- Extensive profiling of the key stakeholders of the business sphere
- Detailed analysis of the factors influencing the growth of the Global Psoriasis Drugs Market
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