Psoriasis Drugs Market Revenue Predicted to Go Up by 2025

Psoriasis is an autoimmune disease characterized by red, itchy abnormal skin patches. There are five types of psoriasis: inverse, pustular, guttate, plaque, and erythrodermic. Psoriasis is considered to be a long-term skin disorder that produces plaques of scaling and thickened skin. The most commonly affected areas on the body are around the scalp, knees, navel, and back of the forearms. Psoriasis is triggered by various factors such as environmental factors and genetic deformity. Psoriasis is considered to be a non-curable disorder; however, a few drugs are available that ease the symptoms. Psoriasis therapies include topical therapeutic drug, systemic therapeutic drug, and combination of two or more therapies. A report published by the Alabama Pharmacy Association stated that around 17 million people in North America and Europe are affected by psoriasis. According to the treatment report, the frequency of occurrence of the disease is low in Africans, Americans, and Asians, and higher in Caucasians. According to a WHO report, males and females are almost equally affected. According to the WHO’s global report on psoriasis in 2016, the trends during 1979–2008 indicate that prevalence of psoriasis has increased from 4.8% to 11.4%.

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Rising number of psoriasis patients and FDA approval of new biologics are the major factors driving the companies to invest in R&D. The psoriasis drugs market is likely to become more competitive with the approval of new biologics. Several drug classes competing for the same moderate to severe patient population is expected to drive the psoriasis drugs market during the forecast period. Awareness about the disease is increasing in developing countries such as China and India through various campaigns by government and health care professionals. It has become easy to access physicians or dermatologists for drugs in developing countries. This is expected to increase the number of patients treated for psoriasis which in turn is likely to boost the growth of the psoriasis drugs market. Some of the psoriatic drugs shows adverse side effects upon administration. Common side effects include injection site reactions such as hardening of the skin, stabbing chest pain, feeling short of breath, cold symptoms, headache, tired feeling, diarrhea, or skin rash or itching. These side effects are hampering the growth of the psoriasis drugs market.

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The global psoriasis drugs market has been segmented based on product type, type of therapy, distribution channel, and region. In terms of product type, the global psoriasis drugs market has been segmented into tissue necrosis factor (TNF) inhibitors, vitamin D analogues or combinations, interleukin blockers, and others. TNF inhibitors is projected to be the largest segment in terms of revenue during the forecast period. In terms of type of therapy, the global psoriasis drugs market has been segmented into topical therapeutic drugs, systemic therapeutic drugs, combinations, and others. Topical therapeutic drugs constitute a key therapy of the psoriasis drugs market as it is a patient convenient process as well as conventional use of this therapy by patients and physicians is high. Based on distribution channel, the global psoriasis drugs market has been segmented into hospital pharmacy, retail pharmacy, and online sales.

The global psoriasis drug market has been categorized into five major regions: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America dominated the global psoriasis drugs market and is expected to be one of the highly attractive markets for psoriasis drug during the forecast period. This can be attributed to the growing disease prevalence as well as high cost of approved biologics in the region. Growth of the psoriasis drug products market in Europe is attributed to expected introduction of biosimillars during the forecast period. North America and Europe are anticipated to be key markets due to high consumption of psoriasis drug products as compared to other regions. Asia Pacific and Latin America are expected to witness significant growth in the latter half of the forecast period due to the introduction of biosimillars.

Key players in the global psoriasis drugs market are Merck & Co., Johnson & Johnson, AstraZeneca, Amgen, Inc., Novartis AG, Eli Lilly and Company, Inc., Pfizer, Inc., AbbVie, Inc., LEO Pharma A/S, and Biogen.

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