- Appetite of personalized treatments high in North America and Asia, Robust Product Pipelines to Help Psoriasis Treatment Market to Clock CAGR of ~11 During 2019 – 2027
- Established Players Commit Sizable Research Funding to Accelerate Product Launches, While Getting Into Strategic Collaborations Help Them Unveil Novel Drug Classes Faster in Treatment Of Moderate-to-Severe Cases
ALBANY, N.Y., Sept. 8, 2020 /PRNewswire/ -- Drug pipelines are continuously expanding in psoriasis treatment market, with biologics fast becoming accessible in emerging markets. The need for potential, targeted treatments in patients with moderate to severe cases triggers a spirit of innovations. Personalized treatment as a part of newer modalities is thus a huge avenue for stakeholders in the psoriasis treatment market.
Of all the drug classes, interleukin inhibitors segment accounts for a high market share. A growing number of tailored therapies approved by FDA in recent years have shaped the evolution.
Clocking a CAGR of ~11% from 2019 to 2027, psoriasis treatment market is expected to witness new avenues on the back of research on psoriasis pathogenesis.
Of all the drug classes, interleukin inhibitors accounted for a high market share and will continue to gather traction
Of the various key routes of treatment in the market, parenteral held the leading share in 2018
Of all the key distribution channels, retail pharmacies held the major market share in 2018
Geographically, North America is the leading segment in psoriasis treatment market
Asia Pacific psoriasis market is expected to rise at promising growth rate during 2019 – 2027
Latin America and the Middle East & Africa are expected to rise at remarkable pace during assessment period
Explore 200 pages of top-notch research, incisive insights, and detailed country-level projections on Psoriasis Treatment Market (Drug Class: TNF Inhibitors, Interleukin Inhibitors, Vitamin D Analogs, Corticosteroids, and Others; Route of Administration: Oral, Parenteral, and Topical; Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/17960
Psoriasis Treatment Market: Key Driving Factors and Promising Avenues
Drug makers aimed at strengthening their positions in psoriasis treatment market are increasingly leaning on delivering value-based medicine to reduce the prevalence of psoriasis. The average worldwide prevalence is around 2%.
Over the years, psoriasis treatment market has seen research and investments in targeted therapies.
A better understanding of pathophysiology of psoriasis and skin biology is helping drug makers to come out with potent biologics and biosimilars, thus boosting the market.
Growing use of predictive biomarkers has helped improve the incidence rate, thereby boosting demand for psoriasis treatment.
Regulatory bodies, such as the U.S. FDA, are promoting the constant development of biologics and newer modalities. New modalities focus on managing more number of symptoms.
Growing presence of comorbidities in patients is opening new demand potential in the market. A case in point is the strong likelihood of patients to develop arthritis, especially in population of the U.S.
Psoriasis Treatment Market: Key Impediments to Growth and Competitive Landscape
The competitive landscape in the global psoriasis treatment market is abuzz with the approval of new drug classes, notably in developed countries. Aspiring players are unlocking revenue streams in biological therapies that target specific cytokines. Some companies are seeing attractive opportunities in parenteral delivery modes.
Top stakeholders will garner revenue gains by leveraging the synergies of strategic collaborations.
Some of the top players in the psoriasis treatment market are Johnson & Johnson, AstraZeneca plc., Pfizer, Merck & Co., Novartis AG, and Amgen, Inc.
The U.S. and Canada have been seeing substantial sales of psoriasis drugs in retail pharmacies. The North America market as a whole is highly lucrative with vast appetite for the uptake of biologics, despite their being on higher side of prices. The remarkable effectiveness of these as a part of other tailored therapies has lent the regional market high growth momentum.
On the other hand, Asia Pacific is emerging as a highly lucrative regional market and is projected to rise at marked CAGR during 2019 – 2027. Strides being made by the pharmaceutical sector in the regions are helping drive the rapid generation of opportunities for drug makers.
The Psoriasis Treatment Market can be segmented as follows:
Vitamin D Analogs
Route of Administration
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
TNF Inhibitors Market: Expansion of the global TNF inhibitors market is driven by strong research & development and increasing awareness regarding usage of TNF inhibitors for the treatment of various rheumatic conditions during the forecast period. In terms of revenue, the global TNF inhibitors market was valued at US$ 40,369.9 Mn in 2017 and is projected to reach US$ 53,745.37 MN by 2026. It is expected to expand at a CAGR of 2.54% from 2018 to 2026.
Interleukin Inhibitors Market: Increase in the prevalence of chronic inflammatory diseases such as arthritis, psoriasis, and asthma is a major factor fuelling the global interleukin inhibitors market. In addition to this, increase in FDA approvals for novel drugs and therapies for chronic inflammatory disease treatment is further boosting the market.
Vitamin D Testing Market: Analysts of the vitamin D testing landscape have a positive outlook for market growth during the forecast period of 2019-2027. The vitamin D testing market is estimated to rise at a CAGR of ~6%. North America and Europe dominate the global market share in the vitamin D testing landscape, whereas, Asia Pacific has high growth potential in the coming years.
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