Psoriasis Drugs Market Growth Is Attributed To Increasing Demand For Interleukin Inhibitors

According to Precision Business Insights (PBI), the global psoriasis drugs market will be worth USD 12,500 million in 2022, growing at a 7% CAGR from 2022 to 2028. The global psoriasis drugs market is segmented into the following types: By Type of Treatment (Biologic Drugs, Small Molecule Systemic Drugs, and Tropical Therapies), Mechanism of Action (TNF Alpha Inhibitors, PDE4 Inhibitors, Interleukin Inhibitors, and the Other Mechanisms of Action), Route of Administration (Oral, Parenteral, and Topical), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key player's profiles in the Psoriasis Drugs market report are Janssen Biotech Inc, Novartis International Ltd., Amgen Inc, Pfizer Inc., Takeda Pharmaceutical Company Ltd., Merck & Co Inc., Abb Vie Inc., Eli Lilly and Company, Boehringer Ingelheim GmbH and Sun Pharmaceutical Industries Ltd. Psoriasis therapies are projected to become more popular as disease awareness grows, the reimbursement strategies for biologics, and new diagnostic and technology tools become available. The psoriasis drugs market is driven by an increasing number of government initiatives to raise public awareness, increasing drug and treatment approvals globally. Market players are shifting focus to expanding their network and easy access to medical care.

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Interleukin Inhibitors Segment is to Dominate the Psoriasis Drugs Market
The Interleukin Inhibitors segment is expected to account for a larger revenue share in the Global Psoriasis Drugs market and is projected to grow at a prominent CAGR between 2022 and 2028. The Interleukin Inhibitors segment will reach around USD xx Mn by 2028. Compared to other kinds of psoriasis medications, interleukin inhibitors have enhanced safety and efficacy, leading to higher patient uptake. For example, according to the Eli-Lilly annual report 2020, Taltz generated worldwide revenue of USD x billion, up x% from the previous year. Revenue in the United States increased by x% to USD x billion. Primary approved antibodies targeting Interlunkins include Taltz (Ixekizumab), Cosentyx (Secukinumab), Siliq (Brodalumab), Tremfya (Guselkumab), Ilumya (Tildrakizumab), and SKYRIZI (Risankizumab).

Europe Driving the Psoriasis Drugs Market
Europe is expected to hold a significant market share in the global psoriasis drugs market in the forecast period. It is projected to grow at a rapid rate in the coming years. The rising prevalence of the condition has increased demand for treatment medications, moving the industry forward. According to data given by the National Institute for Health and Care Excellence (NICE), the prevalence of Psoriasis in the UK population is estimated to be between 1.3 and 2.2 %.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.
The global Psoriasis Drugs market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In August 2020, MC2 Therapeutics, a Europe-based company, signed a collaboration agreement with EPI Health LLC to commercially its WYNZORA Cream (calcipotriene and betamethasone dipropionate, w/w 0.005%/0.064%) in the US market. In July 2020, The WYNZORA Cream was approved by the United States Food and Drug Administration (FDA) for the topical indication of plaque psoriasis in adults. The anticipated launch of WYNZORA Cream in the American market could help the region develop even faster.

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Detailed Segmentation
The psoriasis drugs market is segmented based on the type of treatment, mechanism of action, route of administration, and geography.
Based on the type of treatment, the market is segmented into the following:
• Biologic Drugs
• Small Molecule Systemic Drugs
• Tropical Therapies

Based on the mechanism of action, the market is segmented into the following:
• TNF Alpha Inhibitors
• PDE4 Inhibitors
• Interleukin Inhibitors
• Other Mechanisms of Action

Based on the route of administration, the market is segmented into the following:
• Oral
• Parenteral
• Topical

Based on the geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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This release was published on openPR.