Plaque Psoriasis Treatment Market Was Valued at USD 18.0 Billion in 2021. The growth is attributed to the growing prevalence of psoriasis globally

According to Precision Business Insights (PBI), the latest report, the plaque psoriasis treatment market is expected to be worth USD 12.5 billion in 2022, growing at a 10.0% CAGR from 2022 to 2028. Global Plaque Psoriasis Treatment Market is segmented into the following types: By Product Type (Interleukin Inhibitors (Tildrakizumab, Guselkumab, Ixekizumab, Secukinumab, Ustekinumab, and Brodalumab), Tumor Necrosis Factor (TNF) (Etanercept, Adalimumab, Infliximab), Others), By Route of Administration (Topical, Parenteral, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others), and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the Plaque Psoriasis Treatment market report are Allergan, Johnson and Johnson, Amgen, Abbvie, Eli Lilly, Dermira Inc., Novartis, Galectin Therapeutics, Cellceutix Corporation, Biogen Inc., and Bayer AG. The rising prevalence of psoriasis globally and the increased need for safe and effective medicines during the forecast period boosted the treatment market's expansion. Integration of biologicals in the treatment of psoriatic illnesses and increased collaborative efforts among the stakeholders will expand the market's footprint. In addition, a greater focus on creating biologics will propel the market forward. The growing telemedicine sector played a significant influence in expanding the market's footprint.

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Parenteral Administration Segment to Dominate the Plaque Psoriasis Treatment Market:
The parenteral administration segment is expected to account for a larger revenue share in the global plaque psoriasis treatment market, with a value share of x% in the worldwide market. It is projected to grow at a x% CAGR between 2022 and 2028. Topical medication is expected to increase as it is the initial line of treatment for plaque psoriasis. Under medical supervision, phototherapy includes exposing skin to UV light to treat plaque psoriasis. The use of twice-weekly (proactive) management during the maintenance phase has been shown to lower the probability of relapse. It is suitable during pregnancy or breastfeeding, as it reduces side effects.

Asia Pacific Plaque Psoriasis Treatment Market:
The Asia Pacific market is expected to hold a significant market share in the global plaque psoriasis treatment market over the forecast period. It is projected to grow at a CAGR of 12% in the coming years. Due to its large population base and changing lifestyle habits such as smoking, Asia Pacific is predicted to be the fastest-growing region. In addition, global industry players are also looking into the developing market for expansion.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Global Plaque Psoriasis Treatment 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 May 2019, Mayne Pharma Group Limited announced that it had received FDA approval for using SORILUX Foam for the treatment of plaque psoriasis. The product is used to treat psoriasis of the body and scalp in patients aged 12 years and older.

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Detailed Segmentation
The plaque psoriasis treatment market is segmented based on type, route of administration, distribution channel, and geography.
Based on the type, the market is segmented into the following:
• Interleukin Inhibitors
• Tumor Necrosis Factor (TNF)
• Others

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

Based on the distribution channel, the market is segmented into the following:
• Hospital Pharmacies
• Retail Pharmacies
• Others

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.