Global Psoriasis Treatment Market To Be Driven By Robust Research And Development (R&D) For The Development Of An Effective Treatment Method In The Forecast Period Of 2023-2028 | EMR Inc.
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- Olivia Grande
- April 12, 2023
The new report by Expert Market Research titled, ‘Global Psoriasis Treatment Market Growth, Size, Price, Share, Analysis, Key Players, Report and Forecast 2023-2028’, gives an in-depth analysis of the global psoriasis treatment market, assessing the market based on its segments like drug classes, types, routes of administration, distribution channels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 21.9 Billion
- Forecast CAGR (2023-2028): 9.23%
- Forecast Market Size (2026): USD 37.20 Billion
The global market for psoriasis treatment is being driven by the rising incidences of psoriasis making it a critical global issue, hence augmenting the demand for an effective treatment. According to the World Health Organisation, the reported prevalence of psoriasis in countries range from between 0.09% to 11.4%. Thus, robust investments towards the development of advanced treatment to control the spread of psoriasis disease is aiding the market growth of psoriasis treatment.
Industry Definition and Segmentation
Psoriasis refers to a common inflammatory condition in which skin cells build up and form scales and itchy, dry patches. Treatment such as topical ointments, light therapy, and medication aims to remote scales and stop the robust growth of skin cells.
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On the basis of drug class, the market can be divided into:
- TNF Inhibitors
Based on type, the market can be categorised into:
- Plaque Psoriasis
- Psoriatic Arthritis
The market, based on administration, can be segmented into:
On the basis of distribution channel, the market can be classified into:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
The regional markets for the product include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The growth in the global market for psoriasis treatment is being driven by the unawareness regarding the origin of the disease. As a result, robust research and development (R&D) about the cause, potential effects, and effective treatments is expected to have a significant influence over the growth of the market. In addition to this, favourable government measures such as reimbursement schemes, subsidised treatments, and other thoughtful measures are also expected to boost the market growth. A combination of topical and systematic therapies to reduce the effects of psoriasis in a lifelong treatment, aimed at remission, is thus driving the growth of the market.
Key Market Players
The major players in the market are AbbVie Inc., Novartis AG, Johnson and Johnson Services, Inc., Pfizer Inc., and Merc and Co., Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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