Psoriasis is a chronic non-communicable disorder in which the immune system sends wrong signals directing skin cells to grow too quickly which results in patches of skin to be deposited on the body surface. Psoriasis mostly affects the knees, elbows and scalp, although other body parts may also be affected. Adults over 50 years are more prone to develop psoriasis and it also affects Caucasians disproportionately. Symptoms include pain, disfiguration and partial disability. The patient also suffers from social stigma and exclusion. The cause of psoriasis is unknown but risk factors include genetics, autoimmune diseases along with environmental factors such as pollution, exposure to allergens, chemicals etc. The greater concern is likelihood of patients with psoriasis developing cardiac disorders and chronic psoriatic arthritis. WHO estimates that psoriasis affects about 100 million people with prevalence rates ranging from 0.09% to 11.43% in different countries of the world. Plaque psoriasis is the most common form of psoriasis affecting 90% of all cases of psoriasis.
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The market for global psoriasis treatment is rising due to market driving factors such as rise in screening and growing prevalence of psoriasis. For example, the data from National Health and Nutrition Examination Survey revealed that in the United States prevalence of psoriasis increased from 1.62% to 3.10% from 2004 to 2010. Other market driving factors for the global psoriasis treatment market is rise in risk factors such as autoimmune diseases, diabetes etc.; greater exposure to environmental factors such as exposure to chemicals, allergens etc. along with growing awareness and screening of psoriasis. Critical market constraints include lack of effective and permanent curative treatment since most treatment is of symptomatic nature. Other market restraints include high cost of drug development which raises the cost of drug, patent expiry of a number of blockbuster drugs such as humira, enbrel and remicade, etc. side effects associated with present medications such as hypertension, liver and kidney damage etc. The advent of biosimilars also hampers growth of the market.
The psoriasis treatment market also favours companies with strong research pipeline which is reflected in the latest market trends by the launch of novel acting biologics such as TNF-α inhibitors, IL-17 inhibitors etc. Thus, product development is the critical strategy required to be followed to become a market leader in global psoriasis treatment market.
Global Psoriasis Treatment Market
The psoriasis treatment market has been evaluated to be growing with a CAGR of ~7.3% during the forecasted period of 2016 to 2022.
Major participants of this market are namely Novartis International AG, Johnson & Johnson, Pfizer Inc, Merck and Co. Inc, AbbVie and Amgen, Eli Lilly and others.
Depending on the geographic region, psoriasis treatment market is segmented into four key regions which includes Americas, Europe, Asia Pacific, and Middle East & Africa. Globally developed countries led by North America is the largest market for psoriasis treatment. Europe is the second largest market for psoriasis treatment. Developing regions such as Asia Pacific and Middle East & Africa are also high growing market of psoriasis.
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The latest market trends include huge potential reflected by novel acting biologics such as TNF-α inhibitors, IL-17 inhibitors etc. The psoriasis treatment market also favors companies with a strong research pipeline. Thus novel drug development especially involving biologics will be the best strategy and will lead to fast growth of the market along with least marketing expenditure. Thus product development is the critical strategy to be a market leader of global psoriasis treatment market.
The global psoriasis treatment market was valued to be US$7.0 billion in 2016 and is expected to reach US$10.68 billion by 2022. Thus the market is expected to grow at a CAGR of 7.3% from 2016 to 2022.
Study Objectives Global Psoriasis Treatment market:
- To provide detail analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the global psoriasis treatment market.
- To provide insights about factors affecting the market growth.
- To analyze the market based on various analyses which includes price analysis, supply chain analysis, Porters Five Force analysis etc.
- To provide past and estimated future revenue of the market’s segments and sub-segments with respect to four main geographies and their countries including Americas, Europe, Asia-Pacific, and Middle East & Africa.
- To provide country level analysis of the market with respect to the current market size and future growth prospect.
- To provide country level analysis of the market for segments by mechanism of action (TNF inhibitors, phsophodiesterase inhibitors, interleukin blockers and others), by route of administration (oral, tropical and injectable) and by drug types (small molecules and biologics)
- To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies and drawing a competitive landscape of the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments along with research and developments globally.
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The report of global psoriasis treatment market by Market Research Future comprises extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size in terms of value & volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies followed by top key players in the industry. The report also gives a broad study of different markets segments and regions.
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