Press release
Psoriasis Treatment Market By Top Key Players – AbbVie Inc., Novartis AG, Johnson & Johnson Services, Inc., Pfizer Inc., LEO Pharma A/S Market Forecast 2028
Psoriasis Treatment Market Forecast 2021-2028
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Market Overview:
The global psoriasis treatment market size is projected to reach USD 40.58 billion by the end of 2027. Increasing focus on development of biologics for psoriasis treatment will aid the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Psoriasis Treatment Market Size, Share & Covid-19 Impact Analysis, By Drug Class (TNF inhibitors, Interleukins, and Others), By Type (Plaque Psoriasis, Psoriatic Arthritis, and Others), By Route of Administration (Oral, Parenteral/Systemic, and Topical) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2020-2027,” the market was worth USD 20.09 billion in 2019 and will exhibit a CAGR of 9.2% during the forecast period, 2020-2027.
Psoriasis is a medical condition that directly affects the human skin. The condition is a long term disease that currently has very few or no treatment options. The severity of the disease and inadequate treatment methods will lead to a high emphasis on early detection and treatment of the disease across the world. The increasing research and development activities and high investments in these activities will create several growth opportunities for the companies operating in the market. The symptoms of psoriasis include red patches, itchiness, rashes, and irritation. The increasing medical activities associated with the condition and the growing emphasis on the development of efficient treatment options will emerge in favor of the growth of the overall psoriasis treatment market in the foreseeable future.
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Market to Remain Unaffected by Ongoing Covid-19 Pandemic
The recent coronavirus outbreak has questioned the performance of various business sectors across the world. Several debates are being conducted; with regard to the effect of the outbreak and predictions are being set out at a rapid pace. Despite the severity of the pandemic, it is unlikely that this outbreak will restrict the performance of the companies in the psoriasis treatment market.
Increasing Number of Regulatory Approvals will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall psoriasis treatment market in recent years. Among all factors, the increasing number of regulatory usage approvals by leading organizations such as the Food and Drug Administration has had the highest impact on the growth of the market. The report highlights a few of the major FDA approvals of recent times and discusses their impact on the growth of the overall market. In April 2019, Ortho Dermatologics announced that it has received approval from the FDA for a lotion in treatment of patients suffering from psoriasis. The company received approval for use of ‘Duobrii’ for treatment of plaque psoriasis. The product will be used in adults suffering from plaque psoriasis. Several efforts are being made for the development of newer products, in tandem with Duobrii for the treatment of other serious psoriasis conditions.
North America to Emerge Dominant; Increasing Prevalence of Psoriasis will Aid Growth
The report analyses the latest market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The increasing prevalence of psoriasis and several conditions associated with this disease. The growing demand for novel treatment options for this disease will aid the growth of the regional market. As of 2019, the market in North America was worth 8.48 billion and this value is projected to increase at a considerable pace in the coming years. The market in Asia Pacific is projected to exhibit the highest CAGR in the coming years driven by the presence of several large scale companies in several countries across this region.
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List of companies profiled in the report:
AbbVie Inc. (Illinois, United States)
Novartis AG (Basel, Switzerland)
Johnson & Johnson Services, Inc. (New Jersey, United States)
Pfizer Inc., (New York, United States)
LEO Pharma A/S (Ballerup, Denmark)
Merck & Co., Inc. (New Jersey, United States)
Amgen Inc. (California, United States)
Eli Lilly and Company (Indiana, United States)
CELGENE CORPORATION (New Jersey, United States)
UCB S.A. (Brussels, Belgium)
Sun Pharmaceutical Industries Ltd. (Mumbai, India)
Other prominent players
Industry Developments:
May 2019 –Mayne Pharma Group Limited announced that it has received FDA approval for the use of SORILUX Foam for the treatment of plaque psoriasis. The product is used in treatment of psoriasis of the body & scalp in patients aged 12 years and older.
Related Article @ https://marketresearchreportsfbi.wordpress.com/2021/10/27/global-home-healthcare-services-market-projection-by-key-players-share-size-trends-segmentation-regional-analysis-industry-growth-forecast-2028/
NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. We aim to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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