Pune, Aug. 16, 2019 (GLOBE NEWSWIRE) -- The increasing prevalence of psoriasis around the world is boosting the global Psoriasis Treatment Market, says Fortune Business Insights in their recent report. The report is titled “Psoriasis Treatment Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2025.” According to the report, the market will reach US$ 37,634.2 Mn by 2026 from US$ 18,378.0 Mn in 2018, exhibiting a CAGR of 8.2% between 2018 and 2026.
According to the report prepared by Fortune Business Insights, the TNF inhibitors segment emerged dominant among drug classes. In 2018, the TNF inhibitor segment held 46.3% share in the market. However, in the coming years, the market may witness higher demand for biosimilar version leading to the decline in the price of TNF inhibitors. This, accompanied by the increasing prescription volume for interleukin inhibitors segment may help the interleukin inhibitors to emerge as the dominant segment in the coming years.
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Rising Prevalence of Plaque Psoriasis to Increase Demand for Treatment, Boosting Market
One of the major factor boosting the global Psoriasis Treatment Market is the increasing prevalence of the disease itself. The World Health Organization states that the prevalence of psoriasis is estimated to vary between 0.09% to 11.0% across all nations. This ultimately means that psoriasis is a serious problem. Psoriasis can occur to anyone irrespective of age but is usually reported to occur to aged people between 50 to 70 years. The rising geriatric population and their vulnerability towards diseases such as psoriatic arthritis are factor propelling growth of the market. These, coupled with the rising prevalence of plaque psoriasis, are likely to create growth opportunities for the market in the forecast period.
The rising availability of biologic and biosimilar products is helping the market for psoriasis grow rapidly. Increase in prescription volume of the biologic products and favorable reimbursement policies by governments are also helping the market grow and continue doing so in the forecast duration as well.
North America to Continue Dominating Market with Rapid Adoption of Biological Therapy
Fortune Business Insights foresees the global psoriasis market to witness dominance of North America followed by Europe. As per the National Psoriasis Foundation, there are about 8 million people in America living with psoriasis. Owing to its quick rate of biological therapy adoption, and rise in investments on research and development for clinical trials, North America is likely to continue dominating the global market for psoriasis in the forecast period as well.
On the other side, the emerging markets in the Middle East and Africa, Latin America, and Asia Pacific are expected to offer lucrative growth opportunities because of large patient pool, the improving healthcare infrastructure and medical facilities; increasing awareness, and with rising investments for development of new therapeutics for psoriasis.
Major companies are investing increasingly in research and development for product launches. Major strategies adopted by vendors include merger and acquisitions, research and development, and new product launches. At present, Abbvie is dominating the global Psoriasis Treatment Market and this is because of their leading product named Humira.
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The report analysis comprises of market dynamics and competitive landscape. Additionally, the report offers insights on the prevalence of psoriasis and psoriatic arthritis for key countries/region, recent industry developments such as partnerships, mergers & acquisitions, new product launches etc.; pipeline analysis for key companies, regulatory framework by key countries, and global reimbursement scenario.
Key Companies Covered
- AbbVie Inc.
- Novartis AG
- Johnson & Johnson Services, Inc.
- Pfizer Inc.,
- LEO Pharma A/S
- Merck & Co., Inc.
- Amgen Inc.
- Eli Lilly and Company
- CELGENE CORPORATION
- UCB S.A.
- Sun Pharmaceutical Industries Ltd.
- Other prominent players
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Table of Content:
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Psoriasis and Psoriatic Arthritis for Key Countries/Region
- Recent Industry Developments Such as Partnerships, Mergers & Acquisitions, New Product Launches Etc.
- Pipeline Analysis for Key Companies
- Regulatory Framework by Key Countries
- Global Reimbursement Scenario
- Global Psoriasis Treatment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- TNF Inhibitors
- Interleukins
- Others
- Market Analysis, Insights and Forecast – By Type
- Plaque Psoriasis
- Psoriatic Arthritis
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Parenteral
- Topical
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- Competitive Analysis
- Strategic Recommendations
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