The global psoriasis treatment market is on track to reach $35.07 billion by 2031, growing at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031, according to a new report by Meticulous Research®. The rise in market value is being propelled by the increasing prevalence of psoriasis, advancements in treatment options, and improved understanding of the disease. Additionally, higher rates of diagnosis, particularly among the elderly who are more susceptible to the condition, are helping to boost market growth.
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Other contributing factors include rising awareness about psoriasis, a growing preference for combination therapies, and ongoing research aimed at better understanding the disease and its treatments. These trends are expected to create numerous opportunities for companies operating in this market.
Key Players in the Psoriasis Treatment Market
Major pharmaceutical companies leading the way in psoriasis treatment include AbbVie Inc. (U.S.), AstraZeneca Plc (U.K.), Boehringer Ingelheim (Germany), Celgene Corporation (U.S.), Eli Lilly and Company (U.S.), Johnson & Johnson (U.S.), Merck KGaA (Germany), Novartis AG (Switzerland), Pfizer Inc. (U.S.), Takeda Pharmaceutical Company Limited (Japan), Biogen, Inc. (U.S.), LEO Pharma A/S (Denmark), Sun Pharmaceutical Industries Ltd. (India), and Dr. Reddy’s Laboratories Ltd. (India).
Market Segmentation and Future Outlook
The psoriasis treatment market is divided into several segments based on treatment type, disease type, route of administration, and distribution channels.
- Treatment Type:
- The market is categorized into biologic drugs, topical treatments, and systemic treatments. Among these, the biologic drugs segment is expected to witness the highest growth during the forecast period. This is largely due to the increasing use of Interleukin inhibitors, which have shown high efficacy and safety in treating psoriasis. Advancements in the development of biologic drugs and ongoing initiatives by pharmaceutical companies to introduce new biologics further support the growth of this segment.
- Disease Type:
- Psoriasis treatments are aimed at managing various forms of the disease, including plaque psoriasis, psoriatic arthritis, and others. Of these, the psoriatic arthritis segment is expected to grow at a 7.1% CAGR through 2031. This growth is driven by the increased risk of patients with plaque psoriasis developing psoriatic arthritis, rising awareness about the condition, and continuous improvements in treatment options.
- Route of Administration:
- Psoriasis treatments can be administered orally, topically, or through injections, with the choice of treatment depending on the severity of the condition and the patient's needs.
- Distribution Channels:
- The market is segmented into hospital pharmacies, retail pharmacies, and online/e-commerce platforms, with patients accessing treatment through a variety of channels depending on convenience, price, and availability.
Geographic Outlook
The report also provides a detailed analysis of the psoriasis treatment market across major global regions, with a focus on the dynamics and growth potential in various countries.
In conclusion, the psoriasis treatment market is experiencing robust growth, fueled by advancements in biologic drugs, increased awareness of psoriasis, and new treatment approaches. With the ongoing development of more effective therapies, this market is expected to continue expanding, offering promising opportunities for industry players.
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