Psoriasis Treatment Market Trends to Record Robust Compound Annual Growth Rate by 2030
Psoriasis treatment market insights and analysis by drug class, treatment type by topicals - forecast till 2030
As per the analysis by Market Research Future Reports (MRFR), the global psoriasis treatment market is anticipated to garner the market value of USD 48.33 billion, expanding at a CAGR of 7.8% during the assessment period from 2022 to 2030.
It is believed that both genetic and environmental factors contribute to the onset of the psoriasis condition. In 2023, it is projected that increased treatment awareness and enhanced healthcare infrastructure would significantly benefit the market for psoriasis therapies. The adoption of a sedentary lifestyle, growing alcohol consumption, smoking, and an unhealthy diet are additional significant factors driving the global industry. Also, the market has expanded as a result of the rise in psoriasis instances brought on by the increased exposure to chemicals and pollutants.
On the other hand, it is anticipated that during the review period, market expansion will be constrained by high related costs. Yet, it is projected that the market for psoriasis treatments will expand significantly due to the rising usage of alternative psoriasis medicines and the continued competition among the top players.
Key Players
The renowned global psoriasis treatment market players are UCB (Belgium), Novartis International AG (Switzerland), AstraZeneca (UK), Johnson & Johnson (US), Celgene Corporation (US), Pfizer Inc (US), AbbVie (US), Merck and Co. Inc (US), Amgen (US), and Eli Lilly and Company (US).
Market Segmentation
The segment evaluation of the global psoriasis treatment market trends 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. Furthermore, Interleukin-inhibitors is segmented into secukinumab, ustekinumab, ixekizumab, and brodalumab. 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. Topicals are further segmented into topical non-steroid, over the counter (OTC) topicals, topical steroids. Systemic is segmented into cyclosporine, retinoid, and methotrexate. Biologics is sub-segmented into InterleU.K.in 12, and 23 (IL-12/23) inhibitors, tumour necrosis factor-alpha (TNF-a) inhibitors, InterleU.K.in 17 (IL-17) inhibitor, and T cell inhibitor.
Regional Analysis
Based on the region, the global psoriasis treatment market is segmented into the Americas, Asia-Pacific. Europe, and the Middle East and Africa.
As per the analysis, the global market is projected to be dominated by the Americas. The region is estimated to flourish owing to the increased awareness, rising patient pool, and the presence of established key players. According to a recent study, more than 8 million Americans are estimated to have been infected with psoriasis, with the US reporting 150,000 cases every year. In North America, the US and Canada are predicted to make the most significant contribution in boosting the regional market in the forthcoming period.
Europe is likely to obtain a second position by acquiring the second largest market share. The regional market is flourishing owing to the increased awareness about the ailment and the growing demand for an efficient treatment. Further, the rise in R&D activities to produce a long-term solution to the disease is likely to be another crucial factor in boosting the regional market.
The APAC region, on the other hand, is considered to have the fastest market growth due to the presence of a developing nation and its emphasis on expanding the healthcare infrastructure. It is anticipated that developing nations like India, China, and Japan will accelerate market growth by significantly funding research and development..
The MEA region is anticipated to acquire the least market share during the review period owing to the presence of underdeveloped economies and lack of awareness.
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