Global Psoriasis Drugs Market Forecast From 2022 To 2032

Posted by sandeep gade on November 22nd, 2022

Psoriasis is a chronic inflammatory skin disease that occurs due to genetic disposition and environmental factors. Psoriasis is a systemic disease associated with psychological, metabolic, arthritic, and cardiovascular comorbidities. On an average, psoriasis affects around 2 – 3% of the population globally.

Plaque psoriasis, being the number one and most common indication, held nearly 85% share of the US$ 11.37 Bn psoriasis drugs market in 2021, with the market estimated to expand at a CAGR of nearly 6.5% over the next ten years.

An array of agents exist for the symptomatic treatment of psoriasis. Patients with mild-to-moderate psoriasis typically receive topical treatments that modulate gene transcription, promote keratinocyte differentiation, and inhibit cell proliferation.

A number of innovative and advanced therapies for the treatment and management of psoriasis are under development, many of which have novel targets and mechanisms of action. Psoriasis is linked with a number of medical conditions inclusive of psoriatic arthritis, depression, and cardio metabolic syndrome. The most commonly occurring form of psoriasis is chronic plaque.

Common treatment methods of psoriasis include topical administration of vitamin D analogues, glucocorticoids, and phototherapy. Moderate to severe psoriasis often calls for systemic treatment.

Prevalence of psoriasis has displayed a growing trend over the past decade. Rising awareness initiatives regarding psoriasis disease and its management & treatment options, increasing reimbursement support, and growing research & development with the adoption of biologics and biosimilars are some of the factors responsible for impacting the psoriasis drugs market and aiding sales growth.

Key Takeaways from psoriasis drugs market

•          Topical products are expected to continue holding over one-third Market Research Report value share through 2031, primarily because of clinically approved topical ointments, foams, and creams available for the management of inflammation and rash due to psoriasis.
•          Efficiency of corticosteroids for skin irritability and inflammation makes corticosteroid the leading segment with over 34% of revenue share in 2021.
•          Easy availability of psoriasis drugs in hospital pharmacies and large distribution networks of hospital chains make it the largest segment, with more than 39% market share.
•          Plaque psoriasis is the most commonly occurring autoimmune disease, accounting for a revenue share of around 85% in 2021.
•          Presence of a large number of manufacturers, rising public awareness, and easy availability of psoriasis drugs and treatment options make North America the leading regional market with over 27% market share in 2021.

“Growing adoption of combination therapy and favourable reimbursement support for psoriasis to drive Market Research Report growth,” says an analyst of Persistence Market Research.

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