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The report titled “Psoriasis Treatment Market -Forecast to 2022″ is a direct appreciation by Market Research Future of the market potential of the Psoriasis Treatment Market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today’s winner takes all market!
Psoriasis is associated with a lifelong stigma due to its chronic nature. Psoriasis results when the immune system directs skin cells to grow too quickly resulting in piles of skin flakes on the surface. Apart from skin Psoriasis also affects fingers, nails, knees, elbows, and scalp causing painful disfiguration and even disability. The global psoriasis treatment market was estimated to generate USD 7.0 billion in 2016 which is anticipated to reach USD 10.68 billion by 2022 with a CAGR of 7.3%.
Some of the key players of the global psoriasis treatment market are Novartis International AG, Johnson & Johnson, Pfizer Inc, Merck and Co. Inc, AbbVie and Amgen and Eli Lilly
- Global psoriasis drugs manufacturers
- Research and development laboratories
- Market research and consulting service providers
The heavy negative quality of life, the large unmet needs and others are the prime drivers of the market. The growing geriatric populations is a risk factor indirectly driving the market as Psoriasis mostly occurs in during the age of 50–70. Psoriasis is also a cause of numerous comorbidities such as diabetes, psoriatic arthritis, inﬂammatory bowel disease, ophthalmologic pathologies, etc.
According to the World Health Organization (WHO) estimates about 1.3% to 34.7% of psoriasis cases develop into chronic psoriatic arthritis leading to joint deformations while about 4.2% to 69% of all cases develop nail changes. Psoriasis affects approximately 100 million people with 0.09% to 11.43% prevalence rates. Plaque psoriasis accounts for approximately 90% of all cases of psoriasis. Thus a large market is well evident from the figures.
Other drivers of the market are growing screening resulting in upward trend. The national health and nutrition examination survey of U.S. records increase in prevalence of psoriasis from 1.62% to 3.10% during 2004 to 2010. Growing awareness, rise in risk factors such as autoimmune diseases, diabetes and others, greater exposure to environmental triggers such as chemicals, allergens etc. are further charging the market. The stronger research pipeline of psoriasis which include the novel acting biologics such as TNF-α inhibitors, IL-17 inhibitors etc. are a cause of high expectations. Product development strategies especially the biologics are expected to result in high market equity for the global psoriasis treatment market.
Lack of effective and permanent treatment is the critical restraint on the market. The symptomatic treatment is also associated with side effects including hypertension, liver and kidney damage and others. The high cost of drugs with their low efficiency and efficacy is hampers the growth of the market. Research has been hampered by lack of knowledge about the exact cause and etiology of psoriasis.
North America is the dominant region in the global psoriasis treatment market, which is led by the U.S. Europe is expected to be the second largest market led by Nordic countries such as Germany, France, Norway and others. However Asia Pacific is estimated to be the fastest growing region due to large unmet needs from China, Indonesia and India. The Middle East and Africa region is estimated to generate moderate growth due to lower prevalence of psoriasis.
The report of global psoriasis treatment market by Market Research Future comprises extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size in terms of value & volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies followed by top key players in the industry. The report also gives a broad study of different markets segments and regions.
The global psoriasis treatment market has been dissected by basis of mechanism of action, route of administration, drug types and regions so as to assess the differential potential and equity of the market.
Mechanism of action – TNF inhibitors, phosphodiesterase inhibitors, Interleukin blockers and others
Route of Administration – Oral, Tropical and Injectable
Drug Types – small molecules and biologics
Regions – North America, Europe, Asia Pacific, Middle East and Africa
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