Psoriasis Treatment Market Size, Strategies and Opportunities Forecast 2022-28

The research report "Psoriasis Treatment Market: By drug class (TNF Inhibitors, Vitamin D Analogues, Interleukin Blockers, Topical Corticosteroids, Monoclonal Antibodies, Other) By psoriasis type (Plaque Psoriasis, Guttate Psoriasis, Flexural Psoriasis, Inverse Psoriasis, Psoriatic Psoriasis), By route of administration (Oral,Topical, Parenteral), By distribution channel (Hospital Pharmacies, Retail Pharmacie, Online Pharmacies) - Geography- Global/Region/Country Forecast to 2028." The global psoriasis treatment market size was valued at US$ 42.72 Bn and is anticipated to grow at a 9.5% CAGR rate over 2022-2028.

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Increase in spending on medicines and healthcare expenditure drives the Psoriasis Treatment Market
Psoriasis is characterized by abnormal growth of the skin cells. It is a chronic autoimmune illness and forms skin patches above the skin. Inverse psoriasis, guttate psoriasis, plaque psoriasis, erythrodermic psoriasis and pustular psoriasis are the various kinds of psoriasis. Among all these psoriasis types, plaque psoriasis is widespread and comprises of almost 90% of psoriasis cases. The psoriasis diagnosis is generally made by getting information from the relevant family health history, physical examination of the skin and medical history. Psoriasis affects skin over the knees, scalp and elbows and is frequently itchy. Even if, any area can be involved, it tends to be more frequent at sites of friction and scratching. No cure is available for psoriasis at present. But, the symptoms are cured through treatment. Psoriasis treatment market is projected to witness considerable growth because of the severity of the disease and prevalence rates.

Global psoriasis treatment market is fuelled by the increasing alcohol consumption trends and smoking globally. A few of the major drivers of the market growth are increasing health care expenditure and increase in spending on medicines. Topical agents are used mainly for the treatment of psoriasis. The current release of systemic products into the market anticipated to bolster the market growth. On the other hand, side effects associated with the available psoriasis medication and high cost of the drugs is anticipated to hamper the psoriasis treatment.

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North America accounted for major share in Psoriasis Treatment Market:
North America witnesses significant share in the global psoriasis treatment market because of the increase in the prevalence of the disease. Approximately 7.5 Mn people in the United States have psoriasis according to American Academy of Dermatology. The Europe psoriasis treatment market is expected to grow at significant rate due to factors such as increased prevalence and growing awareness about skin diseases and recent launch of biosimilars such as elerzi, amzevita. India and China are expected to be fastest growing market in Asia-Pacific region because of developing infrastructure and fast growth in consciousness and available treatment options for psoriasis.

Competitive Analysis - Psoriasis Treatment Market:
Major players operating in the psoriasis treatment market are Amgen Inc. (U.S), Eli Lilly and Company (U.S), Novartis AG (Switzerland), Johnson & Johnson Services, Inc., (U.S), Pfizer, Inc. (U.S), AstraZeneca (U.K), AbbVie Inc. (U.S), LEO Pharma A/S (Denmark) and Biogen (U.S).

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