Global Psoriasis Market, By Types (Nail Psoriasis, Guttate Psoriasis, Psoriatic Arthritis, Others), Treatment (Medication, Phototherapy, Others), Diagnosis (Physical Examination, Skin Biopsy, Others), Route of Administration (Oral, Topical, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others) – Industry Trends and Forecast to 2029.
Market Analysis and Size
In recent years, the psoriasis market is anticipated to proliferate during the forecast period. Despite the fact that healthcare is progressively migrating to value-based care for better patient outcomes and enhanced quality of life, the global rise in psoriasis prevalence is encouraging investments in treatment and management strategies. As a result, manufacturers in the psoriasis industry have shifted their focus to research and development in order to improve disease management, resulting in the creation of newer, more effective medications.
Data Bridge Market Research analyses that the psoriasis market was valued at USD 24.33 billion in 2021 and is expected to reach USD 49.20 billion by 2029, registering a CAGR of 9.20% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Psoriasis is a skin condition in which skin cells reproduce 10 times quicker than they should. This causes rough red patches with white scales to form on the skin. They can grow on the scalp, elbows, knees, and lower back, but they are most common there. It is impossible to spread psoriasis from one person to another. Early adulthood is when psoriasis first emerges. It only impacts a few locations for most people. Psoriasis can spread across the body in extreme situations.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2019 - 2014)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Types (Nail Psoriasis, Guttate Psoriasis, Psoriatic Arthritis, Others), Treatment (Medication, Phototherapy, Others), Diagnosis (Physical Examination, Skin Biopsy, Others), Route of Administration (Oral, Topical, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others)
|
|
Countries Covered
|
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
|
|
Market Players Covered
|
Pfizer Inc. (US), GlaxoSmithKline plc (UK), Novartis AG (Switzerland), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd.(Israel), Sanofi (France), Boehringer Ingelheim International GmbH. (Germany), AstraZeneca (UK), Johnson & Johnson Private Limited (US), Bayer AG (Germany), Merck & Co., Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bristol-Myers Squibb Company (US), Cadila Pharmaceuticals (India), Eli Lilly and Company (US), LEO Pharma A/S (Denmark), Cipla Inc. (US), Aurobindo Pharma (India), Lupin (India), Sumitomo Corporation (Japan)
|
|
Market Opportunities
|
|
Psoriasis Market Dynamics
Drivers
- Rise in the prevalence of psoriasis
The rising prevalence of psoriasis is a major factor driving the psoriasis market's growth rate. Although the actual cause of psoriasis is unknown, some genetic and environmental factors may contribute to the disease's onset. The majority of current therapies try to slow disease progression by preventing keratinocyte hyperproliferation.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of psoriasis market is the rising healthcare expenditure which helps in improving its infrastructure.
Furthermore, rising initiatives by public and private organizations to spread awareness about the will expand the psoriasis market. Additionally, high disposable income and changing lifestyle of people will result in the expansion of psoriasis market. Along with this, rising geriatric population and surge in biological therapy approval will enhance the market's growth rate.
Opportunities
- Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the psoriasis market growth. The rising number of psoriasis cases worldwide has prompted manufacturing companies to embark on research and development initiatives to develop new psoriasis treatment alternatives.
Moreover, rising investment for the development of advanced technologies and an increase in the number of emerging markets will provide beneficial opportunities for the psoriasis market growth during the forecast period.
Restraints/Challenges
On the other hand, the high cost of the medication will obstruct the market's growth rate. The lack of healthcare infrastructure in developing economies and low awareness about psoriasis and its associated complications will pose major challenges to the market's growth rate. Additionally, the dearth of favourable reimbursement policies will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This psoriasis market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the psoriasis market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
Psoriasis is becoming more common all over the world. According to the World Psoriasis Day consortium, 125 million individuals suffer from psoriasis each year, accounting for 2 to 3% of the global population.
Psoriasis market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
COVID-19 Impact on Psoriasis Market
Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. Due to the financial crisis and the delay in specialty healthcare delivery while prioritizing COVID-19-related treatments, healthcare systems worldwide have been severely disrupted in the aftermath of the coronavirus pandemic. Patients were unable to see their controls for a variety of reasons, including difficulty accessing a doctor, fear of infection transmission, inability to continue therapies and essential procedures due to pandemic restrictions. Such considerations may have a negative impact on the market of psoriasis in recent months.
Recent Development
- In January 2022, The US Food and Drug Administration (FDA) had approved AbbVie's SKYRIZI (risankizumab-rzaa) for the treatment of individuals with active psoriatic arthritis (PsA). This systemic inflammatory disease affects the skin and joints and affects around 30% of psoriasis patients.
Global Psoriasis Market Scope
The psoriasis market is segmented on the basis of types, treatment, diagnosis, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Types
- Nail Psoriasis
- Guttate Psoriasis
- Psoriatic Arthritis
- Others
Treatment
- Medication
Tumour necrosis factor inhibitors
Interleukin-inhibitors
Vitamin D analogues
Others
- Phototherapy
- Others
Diagnosis
- Physical Examination
- Skin Biopsy
- Others
Route of Administration
- Oral
- Topical
- Others
End-Users
- Hospitals
- Specialty Clinics
- Homecare
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
Psoriasis Market Regional Analysis/Insights
The psoriasis market is analysed and market size insights and trends are provided by country, types, treatment, diagnosis, route of administration, end-users and distribution channel as referenced above.
The countries covered in the psoriasis market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the psoriasis market because of the growing presence of major key players and the rising number of research and development activities will further propel the market's growth rate in this region.
Asia-Pacific are expected to grow during the forecast period due to the surging number of generic manufacturers and growing government initiatives in this region. Also, the development of healthcare infrastructure will further propel the market's growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Psoriasis Market Share Analysis
The psoriasis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to psoriasis market.
Some of the major players operating in the psoriasis market are:
- Pfizer Inc. (US)
- GlaxoSmithKline plc (UK)
- Novartis AG (Switzerland)
- Mylan N.V. (US)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Sanofi (France)
- Boehringer Ingelheim International GmbH. (Germany)
- AstraZeneca (UK)
- Johnson & Johnson Private Limited (US)
- Bayer AG (Germany)
- Merck & Co., Inc. (US)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Bristol-Myers Squibb Company (US)
- Cadila Pharmaceuticals (India)
- Eli Lilly and Company (US)
- LEO Pharma A/S (Denmark)
- Cipla Inc. (US)
- Aurobindo Pharma (India)
- Lupin (India)
- Sumitomo Corporation (Japan)
SKU-