Global Psoriasis Drugs Market By Overview
Introduction:
Psoriasis is a painful, chronic, disfiguring, non-communicable, and disabling autoimmune disease with a limited treatment option. Due to which, it has a great negative impact on the patient's life. Psoriasis involves the nails, skin, and also associated with several comorbidities. Moreover, it causes great social, emotional and physical burden and often leads to impairment. Disability, disfiguration, and obvious loss of Therapeutic Classivity are common challenges for the people suffering from psoriasis. Furthermore, psoriasis is of five types, namely Guttate, Plaque, Pustular, Inverse, and Erythrodermic. The alarming increase in the number of psoriasis patient ultimately raises the demand for proper treatment management. The Global Psoriasis Drugs Market accounted for US$ 15.85 billion in 2020 and is estimated to be US$ 37.07 billion by 2030 and is anticipated to register a CAGR of 8.90%.
Global Psoriasis Drugs Market By Drivers & Restraints
Growing awareness regarding disease
Growing awareness regarding disease, rising number of reimbursement strategies for biologics, and advanced technological and diagnostic tools are likely to increase the adoption of the global psoriasis drugs market. In 2016, according to the World Health Organization (WHO), psoriasis had affected at least 100 million individuals globally. Also, expanding the base of patients suffering from psoriasis is expected to propel the growth of the target market during the forecast period. As per the International Federation of Psoriasis Associations (IFPA), approximately 3% of the global population has psoriasis. Thus, it is projected to gain more share value over the forecast period.
Increasing FDA approvals for new drugs
Further, with the increasing Food and Drug Administration (FDA) approval for the new drugs and therapies for the psoriasis disease is expected to surge the growth of the global market to a significant extent. Besides, to tap into an emerging market, the manufacturer is constantly improving product pipeline and the rising awareness of psoriasis and its treatment in developing countries which in turn is boosting the growth of the target market. However, the high cost of psoriasis therapy is hampering the growth of the global market. According to data published in JAMA Dermatology Journal in 2019, the typical psoriasis treatments with biologics costs higher, ranging between US$10,000 to US$25,000 annually.
High cost
The high cost is due to patent protections preventing many alternative drugs. Nevertheless, the approval process of psoriasis drugs is becoming easier worldwide. For example, in Japan in 2019, the first regulatory approval of SKYRIZI (risankizumab) for the treatment of plaque psoriasis and the approval of a new treatment for plaque psoriasis in Europe in 2018. Hence, the increasing ease of drug approvals is anticipated to propel the psoriasis drugs market in the coming years.
Global Psoriasis Drugs Market By Segmentations & Regional Insights
The global psoriasis drugs market is segmented based on therapeutic class, treatment, type, distribution channel and region.
Based on therapeutic class, the global psoriasis drugs market is segmented into tumour necrosis factor-inhibitors, interleukin-inhibitors, and vitamin D analogues. Based on treatment, the target market is classified into topicals, systemic, and biologics. Based on type, the target market is classified into Plaque Psoriasis, Psoriatic Arthritis and Others. Based on distribution channel, the target market is classified into hospital pharmacies, retail pharmacies and online pharmacies.
Regional Insights:
For detailed understanding of market dynamics, On the region, the global psoriasis drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America estimates for highest share in the global psoriasis drugs market owing to various acquisitions and mergers taking place in the global psoriasis drugs industry. Currently, Europe is the second-highest market due to the growing number of sufferers seeking treatment for the disease. The Asia Pacific market is projected to register relatively high growth over the forecast period due to increasing awareness regarding the disease and growing government funding for R&D.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
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Market Segmentation |
By Gene Therapy Type- Germline Gene Therapy and Somatic Gene Therapy By Type of Vector- Viral Vector and Non-viral Vector By Disease Indication- Cardio Vascular Diseases, Cancer, Genetic Disorders, Neuro Disorders, Infectious Diseases, and Others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Global Psoriasis Drugs Market report based on product, mode of delivery and region.
Global Psoriasis Drugs Market, By Therapeutic Class:
- Tumor Necrosis Factor-inhibitors
- Interleukin-inhibitors
- Vitamin D Analogues
Global Psoriasis Drugs Market, By Treatment:
- Topicals
- Systemic
- Biologics
Global Psoriasis Drugs Market, By Type:
- Plaque Psoriasis
- Psoriatic Arthritis
- Others
Global Psoriasis Drugs Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Psoriasis Drugs Market, By Region:
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- North America
- North America Psoriasis Drugs Market, By Therapeutic Class
- North America Psoriasis Drugs Market, By Treatment
- North America Psoriasis Drugs Market, By Type
- North America Psoriasis Drugs Market, By Distribution Channel
- North America Psoriasis Drugs Market, By Country
- U.S.
- Canada
- Europe
- Europe Psoriasis Drugs Market, By Therapeutic Class
- Europe Psoriasis Drugs Market, By Treatment
- Europe Psoriasis Drugs Market, By Type
- Europe Psoriasis Drugs Market, By Distribution Channel
- Europe Psoriasis Drugs Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Asia Pacific Psoriasis Drugs Market, By Therapeutic Class
- Asia Pacific Psoriasis Drugs Market, By Treatment
- Asia Pacific Psoriasis Drugs Market, By Type
- Asia Pacific Psoriasis Drugs Market, By Distribution Channel
- Asia Pacific Psoriasis Drugs Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Latin America Psoriasis Drugs Market, By Therapeutic Class
- Latin America Psoriasis Drugs Market, By Treatment
- Latin America Psoriasis Drugs Market, By Treatment
- Latin America Psoriasis Drugs Market, By Distribution Channel
- Latin America Psoriasis Drugs Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Middle East & Africa Psoriasis Drugs Market, By Therapeutic Class
- Middle East & Africa Psoriasis Drugs Market, By Treatment
- Middle East & Africa Psoriasis Drugs Market, By Type
- Middle East & Africa Psoriasis Drugs Market, By Distribution Channel
- Middle East & Africa Psoriasis Drugs Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- North America
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Recent Development:
- In November 2022, Dermavant has launched first streaming commercial for new psoriasis topical skin drug ‘Vtama’. Newly launch is its first streaming commercial as part of multimedia campaign targeting adults with plaque psoriasis. The streaming video will be appearing on multimedia platforms such as Roku, YouTube and Paramount along with the radio and other social media channels.
- In September 2022, Bristol Myers Squibb new drug ‘Sotyktu’ (deucravactinib), is approved by US FDA for oral treatment for adults who are having moderate to severe plaque Psoriasis. Newly approved Sotyktu is a first in class, selective, oral, allosteric tyrosine kinase 2 (TYK2) inhibitor.
Global Psoriasis Drugs Market By Competitive Landscape & Key Players
The key players operating the global psoriasis drugs market AbbVie, Inc., Pfizer Inc., Novartis, Eli Lilly and Company, Johnson & Johnson, Celgene Corporation, Amgen Inc., Boehringer Ingelheim GmbH, Merck & Co Inc., and Janssen Biotech Inc. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the Therapeutic Class to gain a competitive edge in the target market. For instance, on December 2017, Pfizer Inc. declared that the United States Food and Drug Administration (FDA) has approved XELJANZ 5 mg twice daily (BID) and XELJANZ XR (tofacitinib) extended-release 11 mg once daily (QD) for the treatment of adult patients with active psoriatic arthritis (PsA). It had an inadequate response or intolerance to methotrexate or other disease-modifying antirheumatic drugs (DMARDs).
Global Psoriasis Drugs Market By Company Profile
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- AbbVie, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Pfizer Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Novartis
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Eli Lilly and Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Johnson & Johnson
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Celgene Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Amgen Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Boehringer Ingelheim GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Merck & Co Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Janssen Biotech Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- AbbVie, Inc.
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FAQs
The global psoriasis drugs market is segmented based on therapeutic class, treatment, and region.
Growing awareness regarding disease, rising number of reimbursement strategies for biologics, and advanced technological and diagnostic tools are likely to increase the adoption of the global psoriasis drugs market
North America estimates for highest share in the global psoriasis drugs market owing to various acquisitions and mergers taking place in the global psoriasis drugs industry.
The high cost of psoriasis therapy is hampering the growth of the global market.
The key players operating the global psoriasis drugs market AbbVie, Inc., Pfizer Inc., Novartis, Eli Lilly and Company, Johnson & Johnson, Celgene Corporation, Amgen Inc., Boehringer Ingelheim GmbH, Merck & Co Inc., and Janssen Biotech Inc.