Psoriasis Treatment Market Business Insights
According to SNS Insider, the global psoriasis treatment market was valued at USD 28.15 billion in 2023 and is projected to reach USD 54.87 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.7% over the forecast period from 2024 to 2031.
Market Overview
Psoriasis is a chronic autoimmune condition that accelerates the life cycle of skin cells, leading to red, scaly patches on the skin. The demand for effective psoriasis treatments has been increasing due to the rising prevalence of the condition and growing awareness about advanced therapeutic options. The market encompasses various treatment modalities, including topical treatments, phototherapy, and systemic medications such as biologics. Technological advancements and increased R&D investments are driving the market growth.
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Key Players
- AbbVie Inc.
- Amgen Inc.
- Eli Lilly and Company
- Johnson & Johnson
- Novartis AG
- Pfizer Inc.
- Merck & Co., Inc.
- Biogen Inc.
- Celgene Corporation
- Bristol-Myers Squibb Company
KEY MARKET SEGMENTATION
- By Treatment Type
- Topical Therapies
- Systemic Therapies
- Biologics
- Phototherapy
- Others
- By Route of Administration
- Oral
- Topical
- Injectable
- By Distribution Channel
- Hospitals
- Retail Pharmacies
- Online Pharmacies
Market Dynamics
- Rising Prevalence of Psoriasis: The growing number of individuals diagnosed with psoriasis, coupled with an increased understanding of the disease's impact on quality of life, is driving demand for effective treatments.
- Advancements in Biologic Therapies: The development of biologics that target specific immune pathways has revolutionized psoriasis treatment, offering more effective and long-lasting solutions compared to traditional therapies.
- Increased Healthcare Spending: Growing healthcare expenditure, particularly in developed regions, is supporting the adoption of advanced treatments and driving market growth.
- Growing Awareness and Early Diagnosis: Initiatives aimed at increasing awareness about psoriasis and the importance of early diagnosis are leading to higher treatment rates, further boosting market expansion.
Regional Insights
- North America: Dominates the market due to a high prevalence of psoriasis, robust healthcare infrastructure, and significant investments in research and development.
- Europe: Exhibits substantial growth potential, driven by increasing healthcare expenditures, a growing number of treatment options, and a strong focus on patient care and outcomes.
- Asia-Pacific: Expected to experience rapid growth due to an expanding patient population, improving healthcare infrastructure, and rising awareness about advanced psoriasis treatments.
Key Players
Major companies in the Psoriasis Treatment Market include:
- AbbVie Inc.
- Amgen Inc.
- Eli Lilly and Company
- Johnson & Johnson
- Novartis AG
Future Outlook
The Psoriasis Treatment Market is poised for significant growth, driven by the rising prevalence of the disease, advancements in biologic therapies, and increasing healthcare investments. Continued research and development efforts are expected to yield innovative treatments, further enhancing market expansion and improving patient outcomes.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Psoriasis Treatment Market Segmentation, By Drug Class
9. Psoriasis Treatment Market Segmentation, by Type
10. Psoriasis Treatment Market Segmentation, by Route of Administration
11. Psoriasis Treatment Market Segmentation, by Distribution Channel
12. Regional Analysis
13 Company profile
14. Competitive Landscape
15. Used Cases & Best Practices
16. Conclusion
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