The global psoriasis treatment market size was surpassed at US$ 14.2 Bn in 2019 and is set to hit US$ 38.2 Mn by the end of 2027 with a 6% CAGR during 2020 to 2027. The potential players in the global psoriasis treatment market include LEO Pharma, AbbVie, AstraZeneca, Pfizer, and Biogen.
Psoriasis is an autoimmune condition and cannot be cured completely. The current treatment methods, to an extent, effectively work in controlling the disease. Hence, the opportunities for consumption remains worthy for players in the global psoriasis treatment market in the coming years. However, with time, companies would want to stay ahead in the league and hence are working on developing drugs that are more effective. 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.
Rise in Psoriasis Cases to Favor Growth
The overall number of cases of psoriasis has steadily increased. While the incidence of the disease is on the rise due to several factors that trigger gene mutation such as pollution and lifestyle habits. At the same time, the general awareness among the public about the disease is considered to be the larger reason for the rise in number of cases. With internet and social media presence, healthcare organizations and governments have been able to conduct awareness campaigns that reach out to the people. As a result, people have realized the importance of early diagnosis and timely treatment for the disease. This has been one of the largest factors for growth in the global psoriasis treatment market.
While 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.
Personalised Medicine Gaining Popularity
As a significant aspect of value-based medicine that aims at improving the quality of care, due to advancements in technology, personalized medicine is quickly gaining traction in the psoriasis treatment market. The management of this disease, has, in recent years, moved from a one-drug-fits-all solution to a tailor-made plan, backed by newer modalities and drugs, and the increasing availability of predictive biomarkers. This is opening up opportunities for manufacturers in the psoriasis treatment market for the development of biological therapies, which is shaping the evolution of the market.
Psoriasis treatment is moving towards molecular medicine, driven by rapidly growing knowledge and understanding of the disease. This is leading to the evolution of specific biological therapies, expanding the potential of personalised medicine in psoriasis treatment.
Biologics in Psoriasis Treatment
Biologics are drugs that are designed to impact only a particular part of the immune system, and are increasingly being used for the treatment and management of psoriasis. Being more effective in the treatment of moderate to severe cases of psoriasis, biologics have entirely reshaped the market. The benefits offered by biologic-based treatments for psoriasis include better control and management of the symptoms and improved quality of life for patients.
The use of biologics in psoriasis treatment has resulted in lucrative prospects for manufacturers in the market, as they compete for the development of new products to stay relevant in the landscape. For instance, in April 2019, Novartis AG, a major player in the psoriasis treatment market, launched Cosenty, the first-in-class interleukin-17A (IL-17A) inhibitor for moderate to severe plaque psoriasis. Innovation and product development continues to have a major role to play in the psoriasis treatment market.
Key players operating in the global psoriasis treatment market include
The global psoriasis treatment is segmented based on
Route of Administration
The report has been prepared after extensive research. Primary research involves bulk of the research efforts, wherein, analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global psoriasis treatment market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have also employed a combination of the top-down and bottom-up approach to study various phenomena in the global market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on the changing competitive dynamics in the global psoriasis treatment market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market. The next section of the global psoriasis treatment report highlights the USPs, which include regulatory scenarios for psoriasis treatment, globally, psoriasis treatment pipeline analysis, and potential mergers & acquisition in the global psoriasis treatment market.
The report delves into the competitive landscape of the global psoriasis treatment market. Key players operating in the global market have been identified, and each one of these have been profiled for their distinguishing business attributes. Company overviews, financial standings, recent developments, and SWOT are some of the attributes of the players profiled in the global market report.
Key Questions Answered in Global Psoriasis Treatment Market Report
Research Objectives and Research Approach
The comprehensive report on the global psoriasis treatment market begins with an overview of the said market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of this study, and the healthcare compliances laid down by accredited agencies in the purview of research. It is followed by market introduction, market dynamics, and an overview of the global market, which includes VRR’s analysis of the market drivers, restraints, and trends affecting the growth of the market. Furthermore, Y-o-Y analysis with elaborate insights have been provided to understand the Y-o-Y trends of the psoriasis treatment market. The next section of the global psoriasis treatment report highlights the USPs, which include regulatory scenarios for psoriasis treatment, globally, psoriasis treatment pipeline analysis, and key mergers & acquisitions in the global market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into small sections. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of the key segments is visually appealing to the readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
Revenue generated by key psoriasis treatment market manufacturers have been mapped to ascertain the size of the global market in terms of value. The forecasts presented here assess the total revenue generated in the market. In order to provide an accurate forecast, we initiated by sizing up the current market with the help of the parent market.
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