Psoriasis Treatment Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

Description

Psoriasis Treatment Market size was valued at USD 42.72 billion in 2021, growing with a CAGR of 9.5 % from 2022-2028. Psoriasis is a chronic autoimmune disease characterized by abnormal growth of the skin cells. It forms skin patches above the skin and it is not contagious. Psoriasis skin patches are red and itchy. There are different types of psoriasis namely guttate psoriasis, plaque psoriasis, pustular psoriasis, erythrodermic psoriasis and inverse psoriasis. Plaque psoriasis is common and constitutes about 90% of psoriasis cases. The diagnosis of psoriasis is typically made by obtaining information from the physical examination of the skin, medical history, and relevant family health history. Psoriasis affects skin over the elbows, knees, and scalp and is often itchy. Although any area may be involved, it tends to be more common at sites of friction, scratching, or abrasion. Currently, there was no cure for psoriasis. However, treatment is focused on curing the symptoms. Treatment may include steroid creams, vitamin D3 cream, UV light, and immunosuppressants. 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. 

Key Developments:

In July 2017, Janssen Biotech, Inc.’s tremfya (guselkumab) approved by U.S. Food and Drug Administration (FDA) for the treatment of adults living with moderate to severe plaque psoriasis.

In February 2017, US Food and Drug Administration (FDA) approved siliq(brodalumab) injection for the treatment of adult patients with moderate-to-severe plaque psoriasis. This drug was developed by Valeant Pharmaceuticals by partnering with AstraZeneca.