Psoriasis Treatment Market Size, Growth, Demand, Opportunities & Forecast To 2030
Latest Study on “Psoriasis Treatment Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.
The global Psoriasis Treatment market size is expected to be worth around US$ 51.24 billion by 2030, according to a new report by Nova one advisor.
The global Psoriasis Treatment market size was valued at US$ 25.3 billion in 2021 and is anticipated to grow at a CAGR of 8.16% during forecast period 2022 to 2030.
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- North America psoriasis treatment market was accounted at USD 10.9 billion in 2021.
- In 2021, the TNF inhibitors drug class segment accounted 47.5% revenue share.
- The Asia Pacific market is expected to exhibit strongest CAGR between 2022 to 2030.
- North America region generated revenue share of around 41.7% in 2021.
Overview of Psoriasis Treatment Market
Rise in the psoriasis patient pool, approval of new biologic drugs for psoriasis, novel drug pipeline, and increase in access to psoriasis treatment in developing countries are anticipated to propel the global psoriasis treatment market.
Psoriasis is an autoimmune noncontagious disorder characterized by rapid and excessive proliferation of skin cells, resulting in patches of abnormal skin. Psoriasis is considered a long-term skin disorder characterized by plaques and thickened skin. Commonly affected areas on the body are around the scalp, knees, navel, and back of the forearms. Psoriasis is triggered by various factors, including environmental factors and genetic deformity. It is considered a non-curable disorder; however, a few treatments can ease the symptoms. Patients are likely to develop psoriatic arthritis at a faster rate. The number of patients with psoriatic arthritis has increased significantly over the last few years.
Report Scope of the Psoriasis Treatment Market
Market Size in 2022
USD 27.36 Billion
Market Size by 2030
USD 51.24 Billion
Growth Rate from 2022 to 2030
CAGR of 8.16%
2022 to 2030
Drug Class, Treatment Type, Type, Route of Administration, Distribution Channel, Geography
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Approval of New Biologics for Psoriasis Treatment to Benefit Healthcare Companies
Biologics have altered the landscape in the management of moderate to severe psoriasis by achieving improved skin clearance, control of symptoms, and quality of life for many affected people. Usage of biologics in psoriasis treatment has resulted in lucrative prospects for manufacturers in the market, as they compete for the development of new products to stay competitive in the market.
In April 2019, Novartis AG announced that the China Health Authority NMPA approved Cosentyx (secukinumab), the first-in-class interleukin-17A (IL-17A) inhibitor for moderate-to-severe plaque psoriasis in adult patients who are candidates for systemic therapy or phototherapy. This indicates promising potential of the plaque psoriasis treatment among patients.
Increase in Access to Psoriasis Treatment in Developing Economies to Propel Global Market
Psoriasis diagnosis and treatment alternatives are undergoing a sea change in emerging economies. Awareness about psoriasis is increasing in developing countries such as China and India due to various campaigns by governments and healthcare professionals. It has become easy to access physicians or dermatologists for treatment in developing countries.
In November 2018, Novartis Corporation Malaysia launched ‘Be Pso Positive’, a psoriasis campaign in Malaysia. The campaign was created by Edelman Malaysia in association with the Psoriasis Association of Malaysia and True Complexion. This is expected to increase the number of patients treated for psoriasis, thereby augmenting the psoriasis treatment market during the forecast period.
Drug Class Insights
On the basis of the drug, TNF inhibitors have shown the maximum growth in the market by holding the largest share during the forecast period. The segment of interleukins is seen to record the fastest growth in the forecast period as a result off the growing prescriptions which is facilitated by its similarity in biological constitution.
On the basis of type, the plaque psoriasis I've recorded the fastest growth as a result of its rapid prevalence in the market. A huge number of people are seen suffering with this type of skin disorder and hence it records the highest return during the forecast period. The rapid advancements which are taking place in order to treat such skin disorders have helped the market to record a tremendous growth.
Psoriatic arthritis forms the next segment under this heading which is commonly found in the people. The new products which are launched by the key market players in order to treat these diseases have proved to be the driving forces for the growth of the market during the forecast period.
Route of Administration Insights
On the basis of administration, the parenteral route as recorded the highest share in the market as a result of its high level of convenience. It is the easiest way of application which is considered by the people all over the world. A rapid sales and supply are observed over the counter which helps the market to record a considerable revenue. The rapid development seen in the medical industry has enhanced the confidence people have over these applications.
The oral route of administration has seen a secondary place in the market as a result of the rapid prescriptions. The rapid research and development performed by the key market players regarding these applications as boosted the size of the market considerably.
Distribution Channel Insights
On the basis of distribution channel, the retail pharmacies have dominated the segment as a result of the huge sales and supply which is recorded by the high demand of the market. Increasing awareness regarding the available medicines and products in order to treat these skin disorders has boosted the demand and supply in the market.
On the other hand, the next segment which has shown a considerable growth is of online pharmacies which has formed the recent trend. Rapidly increasing fashion of online shopping has boosted the demand and sales of the online pharmacies. Hospitals and clinic from the next segment which shows a steady rise with the increasing number of patients in the market.
North America dominated the global psoriasis treatment market in 2021 owing to the increase in incidence of psoriasis and favorable reimbursement policies in the region. Higher cost of biologics in North America than that in other regions is also likely to make it a primary market for players offering psoriasis treatment products. Additionally, robust product pipeline of key players is projected to boost the market in the region.
The psoriasis treatment market in Asia Pacific is anticipated to grow at a higher CAGR than that in North America during the forecast period due to the increase in awareness about psoriasis in developing countries of the region. Rise in diagnosis and management of psoriasis in healthcare systems & clinics in emerging economies is boosting the market in Asia Pacific. Furthermore, growth in usage of biologics in China and Japan is expected to augment the market in the region.
Recent advancements in psoriasis treatment is being witnessed in terms of new product approvals. In August 2021, Novartis secured a new approval for Cosentyx (secukinumab) for the treatment of pediatric moderate to severe plaque psoriasis in China.
The market in Latin America and Middle East & Africa is likely to grow at a considerable CAGR during the forecast period owing to the increase in psoriasis patient pool and focus of manufacturers on the development of novel therapeutics in these regions.
Some of the prominent players in the Psoriasis Treatment Market include:
- Johnson & Johnson Services, Inc. (U.S.)
- Pfizer Inc. (U.S.)
- AbbVie Inc. (U.S.)
- Novartis AG (Switzerland)
- LEO Pharma A/S (Denmark)
- Merck & Co., Inc. (U.S.)
- UCB S.A. (Belgium)
- Sun Pharmaceutical Industries Ltd. (India)
- Amgen Inc. (U.S.)
- Eli Lilly and Company (U.S.)
- Evelo Biosciences, Inc. (U.S.)
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 in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Psoriasis Treatment market
By Drug Class
- TNF Inhibitors
By Treatment Type
- Biologic Drugs
- Small Molecule Systemic Drugs
- Tropical Therapies
- Psoriatic Arthritis
- Plaque Psoriasis
By Route of Administration
By Distribution Channel
- Hospital Pharmacies
- Online pharmacies
- Retail Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Psoriasis Treatment industry analysis from 2022 to 2030 to identify the prevailing Psoriasis Treatment industry opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global Psoriasis Treatment industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Psoriasis Treatment industry trends, key players, market segments, application areas, and market growth strategies.
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