The global psoriasis therapeutics market size was US$ 25.2 billion in 2022. The global market is projected to reach US$ 55.72 billion by 2031, growing at a compound annual growth rate (CAGR) of 9.3% during the forecast period from 2023 to 2031.
Psoriasis is regarded as a chronic skin condition that is primarily distinguished by skin irritability and scaly rashes where skin cells reproduce up to ten times more quickly than normal. It is an autoimmune, non-contagious condition that causes aberrant skin patches owing to the rapid and excessive multiplication of skin cells. It is regarded as a chronic skin condition marked by plaques and thicker skin. It primarily affects the scalp, knees, and elbows. The main goal of treatment for this condition is to slow the growth of skin cells. The intensity and extent of skin affected by psoriasis determine the treatment strategy.
Market Driving Force Factors
An increase in the prevalence of psoriasis and skin problems is the main reason driving the market growth. Skin conditions are among the top 10 causes of disability and the third most common cause of illness, according to the WHO. They rank among the top 10 reasons for outpatient visits and are frequently linked to mental health issues, long-term disabilities, and stigma. Additionally, an article by MedPage Today, LLC mentioned that even a six-month delay in the diagnosis of psoriatic arthritis increases the risk of joint erosions, damage, and disability.
One of the most often used therapeutic modalities is biologic therapy. The launch of new items has been recognized by some sizable businesses as the best potential for market expansion. Market participants are also concentrating on forming strategic alliances and mergers, which produce a number of ground-breaking products. For instance, Otezla, developed by Amgen Inc., was given the go-ahead to treat mild to moderate plaque psoriasis in adults in December 2021. These elements have aided the business in increasing the number of products it offers for oral administration.
The health hazards associated with the medications and the high cost of therapies may restrain the overall market expansion.
Market Segmentation Insights
By Drug Class
In 2022, the interleukin inhibitor segment was the highest revenue contributor in the psoriasis therapeutics market share and is likely to maintain its dominance trend during the forecast period. This is due to the increased use of interleukin inhibitors by psoriasis patients as well as improved safety and efficacy of TNF-alpha inhibitors compared to other classes of psoriasis drugs.
By Type
In 2022, the plaque psoriasis segment accounted for the highest share of the psoriasis therapeutics market and is likely to continue this trend during the forecast period. This is due to the rising prevalence of the patient population with plaque psoriasis, which also raises the adoption of medication for the treatment of plaque psoriasis.
Geographical Overview
In 2022, North America generated the highest revenue share and is likely to remain dominant during the forecast period. This is due to the existence of significant key actors in the area as well as an increase in the number of people with psoriasis in developed nations like the U.S. Additionally, the high levels of disposable money in North America's population have fueled the rise of the healthcare sector because it is affordable to invest in highly advanced medications that address the region's population's specific medical needs.
On the other hand, Asia Pacific is anticipated to witness the highest CAGR throughout the projection period. This is due to an increase in the number of major companies producing psoriasis products, an increase in the incidence of skin conditions like psoriasis, and an increase in the population in India, where psoriasis is more common. The increase in government initiatives to educate the populace about the negative effects of protracted psoriasis also contributes to the market's expansion in the region.
List of Key Competitors
Segmentation Outline
The global psoriasis therapeutics market segmentation focuses on Drug Class, Type, Route of Administration, and Region.
By Drug Class
By Distribution Channel
By Type
By Route of Administration
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL PSORIASIS THERAPEUTICS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: PSORIASIS THERAPEUTICS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL PSORIASIS THERAPEUTICS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL PSORIASIS THERAPEUTICS MARKET, BY DRUG CLASS
5.1 OVERVIEW
5.2 TNF-ALPHA INHIBITORS
5.3 INTERLEUKIN INHIBITORS
6 GLOBAL PSORIASIS THERAPEUTICS MARKET, BY DISTRIBUTION CHANNEL
6.1 OVERVIEW
6.2 HOSPITAL PHARMACIES
6.3 DRUG STORES AND RETAIL PHARMACIES
6.4 ONLINE PROVIDERS
6.5 OTHERS
7 GLOBAL PSORIASIS THERAPEUTICS MARKET, BY TYPE
7.1 OVERVIEW
7.2 PLAQUE PSORIASIS
7.3 PSORIATIC ARTHRITIS
7.4 OTHERS
8 GLOBAL PSORIASIS THERAPEUTICS MARKET, BY ROUTE OF ADMINISTRATION
8.1 OVERVIEW
8.2 ORAL
8.3 PARENTERAL
8.4 TOPICAL
9 GLOBAL PSORIASIS THERAPEUTICS MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL PSORIASIS THERAPEUTICS MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 LEO PHARMA
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 JOHNSON AND JOHNSON
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 AMGEN INC.
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 VIATRIS INC. (MYLAN NV)
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 ABBVIE INC.
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 BAUSCH HEALTH COMPANIES INC.
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 PFIZER INC.
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. ELI LILLY AND COMPANY
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 NOVARTIS AG
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 NOVAN INC. (EPI HEALTH LLC)
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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