Psoriasis Treatment Market was Valued at US$ 21,478.0 Mn in 2018
Global Psoriasis Treatment Market was Valued at US$ 21,478.0 Mn in 2018, Rising Prevalence of Psoriasis Among People
Analyst Speak:
“The Global Psoriasis Treatment Market was valued around US$ 21,478.0 Mn by 2018 and growing at a CAGR of 11.1% over next seven years 2019-2025 due to rising prevalence of psoriasis among people”
The global Psoriasis Treatment market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Rapid availability of biologic and biosimilar products, frequently growing geriatric populations, increasing biological therapy approvals are some the key factors fostering the market growth. However, factors such as huge cost involved in drug development and side effects associated with psoriasis such as hypertension and kidney damage are inhibiting the market growth.
Global Psoriasis Treatment market segmented on the basis of psoriasis type, drug class, route of administration, end user and region.
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Plaque Psoriasis dominate the Global Psoriasis Treatment Market
Based on psoriasis type, global psoriasis treatment market is segmented into psoriatic psoriasis, plaque psoriasis, inverse psoriasis, guttate psoriasis and flexural psoriasis. Plaque psoriasis held considerable market growth during estimated period. Chronic plaque psoriasis is the most common type of psoriasis. Plaques of psoriasis are usually present on the knees, elbows, trunk, scalp, behind ears and between the buttocks although other areas are also involved. A variety of nondrug therapies for chronic plaque psoriasis have been suggested, including acupuncture, psychotherapy etc. Psoriasis is a common, chronic inflammatory skin disease affecting worldwide population in both men and women thus increasing the market demand.
Asia Pacific Leads the Global Psoriasis Treatment market
PBI’s global Psoriasis Treatment market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Middle East & Africa accounted for larger revenue share in global psoriasis treatment market with considerable CAGR. Factors which are favouring the growth in this region are presence of large patient pool, growing awareness about the disease among the people, investments made by the manufactures to develop new therapeutics for psoriasis, rising healthcare expenditure, rapidly improving healthcare systems.
Strategic New Product Launches are the Key Strategies Adopted by Market Players
Global psoriasis treatment market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, in 2018, Sun Pharmaceutical launched plaque psoriasis treatment drug Ilumya (tildrakizumab-asmn) in the US market. Ilumya offers a new, safe and effective treatment option for people struggling to manage their moderate-to-severe plaque psoriasis
Key player’s profiles in the report are Pfizer, Inc. (U.S), Novartis AG (Switzerland), Merck & Co., Inc. (U.S), LEO Pharma A/S (Denmark), Johnson & Johnson Services, Inc., (U.S), Eli Lilly and Company (U.S)
Biogen (U.S), AstraZeneca (U.K), Amgen Inc. (U.S) and AbbVie Inc. (U.S).
Precision Business Insights (PBI) in its report titled “Global Psoriasis Treatment Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
Detailed Segmentation
By Psoriasis Type
o Psoriatic Psoriasis
o Plaque Psoriasis
o Inverse Psoriasis
o Guttate Psoriasis
o Flexural Psoriasis
By Drug Class
o Vitamin D Analogues
o Topical Corticosteroids
o TNF Inhibitors
o Others
o Monoclonal Antibodies
o Interleukin Blockers
By Route of Administration
o Oral
o Topical
o Parenteral
By End User
o Hospital Pharmacies
o Retail Pharmacies
o Online Pharmacies
By Geography
o North America
• US
• Canada
o Europe
• Germany
• France
• UK
• Italy
• Spain
• Russia
• Poland
• Rest of Europe
o Asia-Pacific
• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• Israel
• South Africa
• Rest of MEA
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