Psoriasis Treatment Market Unlocking Growth Opportunities: Analysis and Forecast 2024-2032

Key Insights

The Psoriasis Treatment Marketsize was valued at USD 26.37 USD billion in 2023 and is projected to reach USD 47.59 USD billion by 2032, exhibiting a CAGR of 8.8 % during the forecast period. Psoriasis is a medical condition that has a complex range of management options that are focused on the process of soothing the symptoms and healing the skin. Non systems including topical corticosteroids and vitamin D derivatives are typically employed to decrease inflammation and decrease the rate of cell proliferation. If patients undergo phototherapy under the direction of a doctor, the symptoms of the disease may improve for many patients. Organic treatments such as oral medications that include methotrexate and biological agents are employed to address severe cases as they affect the entire body because they act on the immune system of the body. Both treatment types can be significantly different regarding the impact of the treatment, for example, where topical treatments mainly affect one area of the body, biologic agents have a systemic effect on the body. The treatment offered to the patient is determined by the psoriasis severity and the effect that the treatment had on the individual to avoid or minimize the side effects and ensure that the treatment is consistent and effective with the purpose of offering the best quality health services with a positive impact on the patient’s quality of life. 

Psoriasis Treatment Trends

• Increasing adoption of biologics and targeted therapies
• Growing preference for oral and topical medications
• Emphasis on personalized treatment plans

Driving Forces: What's Propelling the Psoriasis Treatment Market

• Increasing Prevalence: Escalating incidence of psoriasis attributed to genetic susceptibility, environmental influences, and unhealthy lifestyle choices.
• Pharmaceutical Innovation: Advancements in drug therapy, including the development of highly effective biologics and targeted small molecules.
• Enhanced Awareness: Government initiatives, advocacy groups, and patient support organizations play a crucial role in educating individuals about psoriasis and available treatment options.
• Governmental Support: Financial investments in research and clinical trials foster the development of novel and efficacious psoriasis treatments.

Challenges and Restraints in the Psoriasis Treatment Market

• High Cost of Treatments: Biologics and other advanced therapies can be expensive, limiting accessibility for some patients.
• Side Effects: Concerns about potential adverse effects associated with certain medications.
• Treatment Resistance: Some patients may develop resistance to existing therapies.

Emerging Trends in Psoriasis Treatment

• Precision Medicine: Tailoring treatments based on individual patient characteristics and genetic makeup.
• Digital Health: Use of mobile applications and telemedicine to improve patient engagement and treatment adherence.
• Combination Therapies: Combining different types of medications to enhance efficacy and reduce resistance.

Growth Catalysts in the Psoriasis Treatment Industry

• Government Initiatives: Support for clinical trials and research.
• Pharmaceutical Innovation: Continuous development of new and improved treatments.
• Patient Education: Programs to educate patients about psoriasis and its management.

Market Segmentation: Psoriasis Treatment Analysis

Drug Class:

• TNF Inhibitors
• Interleukins Inhibitors
• Others

Type:

• Plaque Psoriasis
• Psoriatic Arthritis
• Others

Route of Administration:

• Oral
• Parenteral/Systemic
• Topical

Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Leading Players in the Psoriasis Treatment Market

• AbbVie Inc. (U.S.)
• Novartis AG (Switzerland)
• Johnson & Johnson Services, Inc. (U.S.)
• Pfizer Inc. (U.S.)
• LEO Pharma A/S (Denmark)
• Merck & Co., Inc. (U.S.)
• Amgen Inc. (U.S.)
• Eli Lilly and Company (U.S.)
• Evelo Biosciences, Inc. (U.S.)
• UCB S.A. (Belgium)
• Sun Pharmaceutical Industries Ltd. (India)

Significant Developments in the Psoriasis Treatment Sector

• September 2022: Bristol Myers Squibb received FDA approval for Sotyktu, an oral treatment for plaque psoriasis.
• July 2022: Health Canada accepted the New Drug Submission review for Roflumilast cream by Arcutis Biotherapeutics, Inc.
• January 2022: UCB S.A. received market authorization for Bimzelx from the Japanese MHLW.
• November 2021: AbbVie Inc. received EU approval for its SKYRIZI subcutaneous injection for psoriatic arthritis.

Comprehensive Coverage Psoriasis Treatment Market Report

The market report provides comprehensive coverage of the following aspects:

• Market size and growth projections
• Historical and forecast market data
• Competitive landscape and market share analysis
• Drivers, restraints, and industry trends
• Market segmentation by drug class, type, administration route, and distribution channel
• Company profiles of leading players
• SWOT analysis and strategies for growth
• Comprehensive industry analysis

Regional Insight

The report provides comprehensive insights into key regions, analyzing market size and growth prospects:

• North America: Leading the global market due to high disease prevalence and the presence of major pharmaceutical companies.
• Europe: Significant market due to well-established healthcare systems and a large patient population.
• Asia-Pacific: Growing market potential driven by rising disposable incomes, increasing urbanization, and improved access to healthcare services.
• Latin America: Emerging market with increasing awareness and expanding access to psoriasis treatments.
• Middle East and Africa: Region with untapped potential due to improving healthcare infrastructure and increasing awareness.

Segmentation

The report provides a detailed segmentation of the market, including:

• Drug class
• Type (Psoriatic Arthritis)
• Administration route
• Distribution channel

Patent/Trademark Analysis

The report provides an analysis of patents and trademarks related to psoriasis treatments.