With 8.7% CAGR, Psoriasis Treatment Market Size worth USD 47.24 billion by [2022-2029]

Pune, India, Oct. 07, 2022 (GLOBE NEWSWIRE) — The psoriasis treatment market size was USD 24.33 billion in 2021. The market is projected to grow from USD 26.37 billion in 2022 to USD 47.24 billion in 2029 at a CAGR of 8.7% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Psoriasis Treatment Market, 2022-2029.” Factors, such as rising geriatric population, increasing prevalence of plaque psoriasis, and psoriasis arthritis, will increase the footprint of the market during the forecast period. Additionally, increased focus on biologics by prominent players will foster the market growth.

Industry Development

  • October 2021 – Sun Pharmaceutical Industries Ltd. announced the availability of ILUMYA in Canada for the treatment of moderate-to-severe plaque psoriasis to strengthen its presence in Canada.

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Report Scope & Segmentation

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2021 to 2028 CAGR 8.7%
2029 Value Projection USD 47.44 Billion
Base Year 2021
Market Size in 2022 USD 26.37 Billion
Historical Data for 2018 to 2020
No. of Pages 166
Key Players AbbVie Inc. (U.S.), Novartis AG (Switzerland), Johnson & Johnson Services, Inc. (U.S.), Pfizer Inc. (U.S.), LEO Pharma A/S (Denmark), Merck & Co., Inc. (U.S.)
Psoriasis Treatment Market Growth Drivers Growing Prevalence of Psoriasis
The rise in prevalence of psoriasis around the globe has created a huge demand for safe and effective therapies for the treatment.
Biologics or biological therapy is one of the most adopted treatment options.

Drivers & Restraints

Rising Prevalence of Psoriasis & Rocketing Biological Therapy Approvals to Augment Market Growth

Factors such as the increasing occurrence of psoriasis on a global scale and rising demand for safe and effective therapies will boost the psoriasis treatment market growth during the forecast period. Integration of biologicals in the treatment of psoriatic disorders and rising collaborative efforts among the dominant players will increase the footprint of the market. Also, increased focus on developing biologics will fuel the growth of the market.

However, high medications costs will limit the growth of the market during the forecast period to a certain extent.

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COVID-19 Impact

Increasing Demand for Treatment to Boost Sales During Pandemic

The ongoing pandemic resulted in a positive impact on the market for psoriasis treatment due to contributing factors, including higher demand for treatment, increased investments for R&D, and rising revenue among the dominant players. Additionally, few research organizations linked COVID-19 and psoriasis, which triggered growth in the market volume. The rising telemedicine sector played a great role in increasing the footprint of the market during the forecast period.

Psoriasis Treatment Market Segmentations:

Segmentation By Drug Class

  • TNF Inhibitors
  • Interleukins Inhibitors
  • Others
By Type

  • Plaque Psoriasis
  • Psoriatic Arthritis
  • Others
By Route of Administration

  • Oral
  • Parenteral/Systemic
  • Topical

Segments

Drug Class, Type, Route of Administration, Distribution Channel, and Region are Studied

Based on drug class, the market is divided into TNF inhibitors, interleukin inhibitors, and others.

By type, the market is broken down into plaque psoriasis, psoriatic arthritis, and others.

With respect to route of administration, the market is segmented across oral, parenteral/systemic, and topical.

By distribution channel, the market is fragmented across hospital pharmacies, retail pharmacies, and online pharmacies.

In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Report Coverage

The market report for psoriasis treatment contains a detailed view by pivoting across critical factors such as leading companies and various segments & sub-segments. Additionally, the report also contains the ongoing industry developments and future market trends. Also, the report also provides the factors that are expected to impact the sector in a meaningful way.

Regional Insights

North America to Steer Toward Dominance Due to Rising Awareness Among Consumers 

North America will occupy the largest psoriasis treatment market share during the forecast period due to the rising adoption of biological therapies, increasing investment regarding research & development, and rising consumer awareness among the general population. Additionally, a strong presence of well-built infrastructure and rising investments in long-term and preventive healthcare facilities will boost the market in the region.

Europe will account for a substantial market share in terms of global contribution due to increasing prevalence of psoriasis across European countries.

Asia Pacific will witness considerable market growth due to increasing government initiatives toward raising awareness among the general population.

Competitive Landscape

Diversified Distribution Networks & Collaborative Efforts to Push Prominent Players Towards a Profitable Path

The sector of psoriasis treatment is highly fragmented with players, including Johnson & Johnson Services, Inc., and AbbVie Inc. occupying a major share. These players are attributed to the top position due to their vast distribution networks. Additionally, they are focused on mergers & acquisitions and collaborations with major dermatology and immunology organizations. For example, in July 2020, Johnson & Johnson Services, Inc announced that it received approval from the U.S. FDA for Stelara. Stelara is a product that is used for treating moderate psoriasis in children from ages 6-11. Others are focused on introducing novel biologics products by introducing huge investment opportunities in R&D.

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List of Key Players Present in the Market

  • AbbVie Inc. (U.S.)
  • Novartis AG (Switzerland)
  • Johnson & Johnson Services, Inc. (U.S.)
  • Pfizer Inc. (U.S.)
  • LEO Pharma A/S (Denmark)
  • Merck & Co., Inc. (U.S.)
  • Amgen Inc. (U.S.)
  • Eli Lilly and Company (U.S.)
  • Evelo Biosciences, Inc. (U.S.)
  • UCB S.A. (Belgium)
  • Sun Pharmaceutical Industries Ltd. (India)

Table Of Content

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Prevalence of Psoriasis and Psoriatic Arthritis for Key Countries/Region
    • Recent Industry Developments Such as Partnerships, Mergers & Acquisitions, New Product Launches Etc.
    • Pipeline Analysis for Key Companies
    • Regulatory Framework by Key Countries
    • Global Reimbursement Scenario
  • Global Psoriasis Treatment Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Drug Class
      • TNF Inhibitors
      • Interleukins
      • Others
    • Market Analysis, Insights and Forecast – By Type
      • Plaque Psoriasis
      • Psoriatic Arthritis
      • Others
    • Market Analysis, Insights and Forecast – By Route of Administration
    • Market Analysis, Insights and Forecast – By Distribution Channel
      • Hospital Pharmacies
      • Retail Pharmacies
      • Online pharmacies
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia pacific
      • Latin America
      • Middle East & Africa

ToC Continue…!

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Frequently Asked Questions

How much is the global psoriasis treatment market worth?

According to Fortune Business Insights the global market stood at USD 24.33 billion in 2021 and is projected to reach USD 47.24 billion by 2029.

What are the key factors driving the psoriasis treatment market growth?

The rise in prevalence of the disease around the globe, growing strategic collaborations and mergers among key players, and the demand for safe and effective therapies for treatment are some of the factors expected to drive the market during the forecast period.

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