Psoriasis Treatment Market poised to reach US$ 20,388.2 Mn by 2023

The Global Psoriasis Treatment Market poised to reach US$ 20,388.2 Mn by 2023 with a significant CAGR over the forecast period (2018-2023) owing to increase in prevalence of the psoriasis conditions all across the globe

Psoriasis Treatment Market: By drug class (TNF Inhibitors, Vitamin D Analogues, Interleukin Blockers, Topical Corticosteroids, Monoclonal Antibodies, Other) By psoriasis type (Plaqu Psoriasis, Guttate Psoriasis, Flexural Psoriasis, Inverse Psoriasis, Psoriatic Psoriasis), By route of administration (Oral,Topical, Parenteral), By distribution channel (Hospital Pharmacies, Retail Pharmacie, Online Pharmacies) – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024

Psoriasis is a perpetual immune system sickness portrayed by irregular development of the skin cells. It frames skin fixes over the skin and it isn't infectious. Psoriasis skin patches are red and bothersome. There are diverse sorts of psoriasis specifically guttate psoriasis, plaque psoriasis, pustular psoriasis, erythrodermic psoriasis and reverse psoriasis. Plaque psoriasis is normal and constitutes around 90% of psoriasis cases. The conclusion of psoriasis is normally made by getting data from the physical examination of the skin, restorative history, and pertinent family wellbeing history. Psoriasis influences skin over the elbows, knees, and scalp and is regularly irritated. Albeit any region might be included, it has a tendency to be more typical at locales of erosion, scratching, or scraped spot. At present, there was no cure for psoriasis. Be that as it may, treatment is centered around curing the side effects. Treatment may incorporate steroid creams, vitamin D3 cream, UV light, and immunosuppressants.

Global psoriasis treatment market is driven by increase in smoking and alcohol consumption trends globally. Increased spending on medicines and escalating health care expenditure are the key growth drivers of the market. Psoriasis treatment mainly treated by topical agents only. The recent launch of systemic products into the market expected to drive the growth of the market. However, high cost of the drugs and side-effects associated with the existing medication for psoriasis are expected to hinder the psoriasis treatment market during the forecast period.

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Psoriasis treatment market segmented on the basis of drug class, type, route of administration, and distribution channel

Based on drug class, global psoriasis treatment market is segmented into
• TNF Inhibitors
• Vitamin D Analogues
• Interleukin Blockers
• Topical Corticosteroids
• Monoclonal Antibodies
• Others

Based on type, global psoriasis treatment market is segmented into
• Plaque Psoriasis
• Guttate Psoriasis
• Flexural Psoriasis
• Inverse Psoriasis
• Psoriatic Psoriasis

Based on route of administration, global psoriasis treatment market is segmented into
• Oral
• Topical
• Parenteral

Based on distribution channel, psoriasis treatment system is segmented into
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

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Psoriasis treatment market is expected to show significant growth rate owing to prevalence rates and severity of the disease. According to World Health Organization (WHO), 1.3%-34.7% of psoriasis patients develop chronic psoriatic arthritis, which may lead to joint deformations and disability. World Health Organization (WHO) also predicts that psoriasis affects about 100 million people with prevalence rates of 0.09% to 11.43% in different countries. The most common type of psoriasis is plaque psoriasis, affecting 90% of all psoriasis cases. Market players are focusing on R&D to develop new drugs and treatments for psoriasis. The market has a handful of drugs and dominated by generics and biologics. Market players heavily influencing the treatment decisions. Due to the entry of biosimilars into the market, there is availability of cheaper drugs to treat psoriasis and it leading to increased availability and increase market size. In addition, market has drug pipelines which are expected to boost the psoriasis treatment market during forecast period.

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Geographically, psoriasis treatment market has been segmented into following regions viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounts largest market in the psoriasis treatment market due to high prevalence of the disease. According to American Academy of Dermatology, approximately 7.5 Mn people in the United States have psoriasis. In Europe, the psoriasis treatment market is expected to grow at significant rate due to factors such as increased prevalence and growing awareness about skin diseases and recent launch of biosimilars such as elerzi, amzevita. In Asia-Pacific region, India and China are expected to be fastest growing market due to developing infrastructure and rapid growth in awareness and available treatment options for psoriasis.

Some of the market players in psoriasis treatment market include Amgen Inc. (U.S), Eli Lilly and Company(U.S), Novartis AG (Switzerland), Merck & Co., Inc. (U.S), Johnson & Johnson Services, Inc., (U.S) Pfizer, Inc. (U.S), AstraZeneca (U.K), AbbVie Inc. (U.S), LEO Pharma A/S (Denmark) and Biogen (U.S) to name a few.

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