Dublin, May 30, 2024 (GLOBE NEWSWIRE) -- The "Global Psoriasis Drugs Market" report has been added to ResearchAndMarkets.com's offering.
The global psoriasis drugs market accounted for USD 12.41 billion in 2023 and is expected to reach at USD 41.26 billion by 2034 with a CAGR of 11.54% during the forecast period 2024-2034. The market will grow due to factors such as the increasing prevalence of psoriasis, improved diagnosis and awareness, advancements in psoriasis treatment choices, the high cost of psoriasis therapy, and a simplified global drug approval process.
Factors such as genetic predisposition, environmental triggers, and lifestyle choices are contributing to the global increase in the prevalence of psoriasis. One of the main factors fueling the market expansion for psoriasis medications is its growing prevalence. For instance, AbbVie reported encouraging outcomes in February 2024 from a late-stage clinical trial assessing the experimental interleukin-23 inhibitor risankizumab for the management of moderate-to-severe psoriasis.
By type of treatment, the biologic drugs segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to the high efficacy, targeted mechanism of action, and increasing acceptance among physicians and patients. Additionally, the small molecule systemic drugs segment is predicted to grow at the fastest CAGR during the forecast period owing to the development of innovative formulations, expanded indications, and favorable reimbursement policies.
By the mechanism of action, the TNF-alpha inhibitors segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to its irreplaceable position in treatment protocols, proven efficacy, and extensive clinical experience. Additionally, the interleukin inhibitors segment is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding research, promising clinical trial results, and increasing adoption as first-line therapies.
By route of administration, the parenteral (injections) segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to the convenience, rapid onset of action, and preference among patients for effective management of psoriasis symptoms. Additionally, the oral segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing development of oral formulations, improved patient compliance, and preference for non-invasive treatment options.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to the preference for specialized care, availability of a wide range of treatments, and accessibility to patients with severe psoriasis cases. For instance, Novartis released encouraging long-term results in October 2023 regarding the use of its interleukin-17 inhibitor to treat psoriasis. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the convenience, expanding digital healthcare services, and increasing preference for online purchasing among consumers.
North America is anticipated to have the highest revenue share during the forecast period owing to the high prevalence of psoriasis, well-established healthcare infrastructure, and early adoption of advanced treatment options. Additionally, Asia Pacific is predicted to grow at the fastest CAGR during the forecast period owing to rising awareness, improving healthcare infrastructure, and increasing prevalence of psoriasis in the region.
Report Scope
- Base Year: 2023
- Forecast Period: 2024-2034
- Market Forecast by Type of Treatment, Mechanism of Action, Route of Administration, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of the Top 10+ Market Players
Key Topics Covered
1. Research Methodology
1.1. Study Objectives
1.2. Study Scope
1.3. Research Assumptions
1.4. Research Framework
2. Introduction
2.1. Market Definition
2.2. Global Psoriasis Drugs Market Overview
3. Executive Summary
4. Market Environment Analysis
4.1. Porter's 5 Forces Analysis
4.2. PESTEL Analysis
4.3. SWOT Analysis
5. Market Dynamics
5.1. Drivers Analysis
5.2. Restraints Analysis
5.3. Opportunities Analysis
5.4. Threats Analysis
5.5. Trend Analysis
6. COVID-19 Impact Analysis
7. Psoriasis Drugs Market: Type of Treatment Estimates & Trend Analysis
7.1. Type of Treatment Segment Opportunity Analysis
7.2. Biologic Drugs
7.3. Small Molecule Systemic Drugs
7.4. Tropical Therapies
8. Psoriasis Drugs Market: Mechanism of Action Estimates & Trend Analysis
8.1. Mechanism of Action Segment Opportunity Analysis
8.2. TNF Alpha Inhibitors
8.3. PDE4 Inhibitors
8.4. Interleukin Inhibitors
8.5. Others
9. Psoriasis Drugs Market: Route of Administration Estimates & Trend Analysis
9.1. Route of Administration Segment Opportunity Analysis
9.2. Oral
9.3. Parenteral
9.4. Topical
10. Psoriasis Drugs Market: Distribution Channel Estimates & Trend Analysis
10.1. Distribution Channel Segment Opportunity Analysis
10.2. Hospital Pharmacies
10.3. Retail Pharmacies
10.4. Online Pharmacies
11. Regional Market Analysis
11.1. Regional Market Opportunity Analysis
12. North America Psoriasis Drugs Market
13. Europe Global Psoriasis Drugs Market
14. Asia Pacific Global Psoriasis Drugs Market
15. Latin America Global Psoriasis Drugs Market
16. MEA Global Psoriasis Drugs Market
17. Competitor Analysis
17.1. Company Market Share Analysis, 2023
17.2. Major Recent Developments
18. Company Profiles
18.1. AbbVie Inc.
18.2. Amgen Inc.
18.3. Johnson & Johnson
18.4. Novartis International AG
18.5. Pfizer Inc.
18.6. Eli Lilly and Company
18.7. Merck & Co., Inc.
18.8. Celgene Corporation (acquired by Bristol Myers Squibb)
18.9. UCB S.A.
18.10. LEO Pharma A/S
18.11. Sun Pharmaceutical Industries Ltd.
18.12. Boehringer Ingelheim International GmbH
18.13. GlaxoSmithKline plc
18.14. Biogen Inc.
18.15. Almirall S.A.
19. Conclusion
20. Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/e0e48l
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