Psoriasis Drugs Market by Therapeutic Classes (Tumor Necrosis Factor Inhibitors, Interleukin Inhibitors, Vitamin-D Analogues, and Others), Treatments (Topicals [Steroids, OTC Drugs, and Non-Steroids], Systemic, and Biologics), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa)- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

The global Psoriasis drugs market size was valued at USD 14.9 billion in 2020 and is anticipated to expand at a significant CAGR of 9.3% during the forecast period, 2021-2028. The growth of the market is attributed to the rising awareness in regard to the treatment of Psoriasis along with the increasing demand for the improved healthcare infrastructure of various developing economies.
 

Psoriasis is a pre-defined genetic condition which is not present at the time of birth. It is a condition which might be triggered from the cause of genetic and environmental factors. Skin cells tends to build up forming itchy, dry, and scaly patches. This disease ca be affected when there are multiple problems in the host’s immune system which can be both medical in terms of having frequent infections & common cold and psychological in terms of poor stress & anger management. The main treatment aim from the Psoriasis drugs perspective is to remove the scales from the skin of the host and to halt the rapid growth of skin cells.

According to the International Federation of Psoriasis Association in 2019, more than 5% of the entire world population suffer from at least one form of psoriasis. In North America, the Centre for Disease Control and Prevention or the CDC reported more than 7.5 million people being affected by psoriasis which is approximately 2% of the globe population. Moreover, there are more than 100,000 new cases being reported and registered every year. The COVID-19 pandemic has hindered the growth of global Psoriasis drugs market initially. However, scientists & researchers, upon further research, reported & identified that the coronavirus has numerous viral genes that can accelerate the present weakness of the hosts. This leads to the rapid arrangement of clinics, healthcare laboratories, and hospitals to expand novel innovations in Psoriasis drugs. This has led to its market growth in the later stages of the pandemic.

Market Trends, Drivers, Restraints, and Opportunities

• Increase in spending and investing by key companies towards the development of new and advanced Psoriasis drugs along with the latest research and development studies are primary reasons to boost the market growth during the forecast period.
• Rapid growth of the biopharmaceutical companies and existing wide demand for Psoriasis drugs worldwide are major factors that help boost the market.
• High prices for the development of Psoriasis drugs and high cost of services from the company’s perspective are anticipated to hinder the global market growth.
• Psoriasis drugs are advised to be used under medical supervision and failure to comply this can lead to various side-effects ranging from dry lips, cracked skin, hair loss, nosebleed to depression and vision impairments. This can hamper the Psoriasis drugs market growth.
• R&D investment and technological advancement are expected to offer significant opportunities for the market players. Researchers and scientists have found novel methods for the treatment of psoriasis apart from drugs such as the IL-inhibitor therapy which used along with the Remicade & Humira shows the most effective treatment for Psoriasis till date.

Scope of the Report

The report on the global Psoriasis drugs market size includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Psoriasis Drugs Market Segment Insights

Tumor necrosis factor inhibitors segment is projected to represent a large market share
Based on therapeutic classes, the global Psoriasis drugs market is divided into tumor necrosis factor inhibitors, interleukin inhibitors, vitamin-D analogues, and others. The tumor necrosis factor inhibitors segment constituted a major market share in 2019. The major reason for this segment growth is the use of the most effective drugs used for the treatment of Psoriasis in tumor necrosis factor inhibitors namely Humira (adalimumab), Remicade (infliximab), Cimzia (certolizumab pegol), and Enbrel (etanercept).
Meanwhile the interleukin inhibitors segment is anticipated to expand at a significant CAGR during the forecast period, owing to the improved efficacy and safety profiles along with the increasing adaption amongst end-users. Latest drugs with more effectiveness such as Cosentyx (secukinumab), Stelara (ustekinumab), Tremfya (guselkumab), Ilumya (tildrakizumab), Siliq (brodalumab), and Taltz (ixekizumab) have all been approved under interleukin inhibitors for the treatment of psoriasis.
 

Biologics segment is anticipated to register a large market share
On the basis of treatments, the global Psoriasis drugs market is segmented into topicals, systemic, and biologics. The topicals segment is further divided into steroids, OTC drugs, and non-steroids. The biologics segment constituted a major market share in 2019 and is anticipated to expand at a significant CAGR during the forecast period. The major reason for this segment growth is the methodology of the biologics and how they perform. Biologics have a different approach in terms of specifically targeting the weak immune system areas of the host and formulating drugs to strengthen this core. This method can provide specific drugs to certain patients resulting in limited side-effects compared to other methods.

North America is anticipated to dominate the market
On the basis of regions, the global Psoriasis drugs market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to dominate the global market with a 37.9% market share in the coming years owing to the growing research & development expenditure along with the rising in adoption of the latest technology in the region. The demand of Psoriasis drugs is increasing rapidly in this region due to the presence of the major market players in the market. The cost of expenditure is significantly lower in North America than that of other economies. However, the market in Asia Pacific is anticipated to expand at a significant CAGR of 12.9% during the forecast period, 2021-2028 as they have prioritized the cost-efficiency perspective of Psoriasis drugs combined with their growing population.