Pediatric Psoriasis Market 2022 | Industry Outlook, Size, Share and Growth Analysis

According to Precision Business Insights (PBI), the latest report, the pediatric psoriasis market is expected to be worth USD 12,362.2 million in 2022, growing at an 8.7% CAGR from 2022 to 2028. Increased prevalence of psoriasis in pediatric and adult populations globally and governmental initiatives to reduce the prevalence due to the new findings like a linear connection of pediatric psoriasis with adult prevalence and arthritis increase the demand for pediatric psoriasis treatment. This high demand boosts the market for Pediatric Psoriasis and pushes the research and development of new technology or methodology for Pediatric Psoriasis. All these factors give the required thrust for the Pediatric Psoriasis market growth in the prophecy period.

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The Parenteral Segment to Take the Most Share in the Pediatric Psoriasis Market:
With the recent inclination towards biologics as a safe and effective method to counter psoriasis, the parenteral segment is expected to rise in the forecast period. Different self-administer doses for adults and once-a-week doses for children are in the pipeline or already approved. The biologics provide side effect-free medication for the children, and it is also easy to use in a parenteral form which also faces no issues in patient compliance. Thus, it can be predicted that the biologics in the parenteral form will hold the most share in the pediatric psoriasis market growth.

North American Region to Dominate the Pediatric Psoriasis Market:
In 2021, the North American market was worth USD 4,014.6 billion. The expanding prevalence of this ailment in the region, as well as increased efforts to promote awareness among the general community, are expected to increase the demand for effective treatment options for controlling the condition. For example, in the United States, Psoriasis Awareness Month is held in August to educate and enlighten patients about the disorder's diagnosis and treatment choices. During the forecast period, the region is expected to maintain its dominance. The dominance is ascribed to the region's participants expanding research and development investment in clinical trials for psoriasis treatment, as well as increasing long-term and preventative healthcare facilities. The implementation of significant healthcare reforms in the United States would increase patient access to medical treatment, supporting market growth throughout the projection period. The Asia Pacific is expected to develop at the fastest rate because to an increase in government initiatives to enhance public awareness about the negative effects of long-term psoriasis. For example, the Australian government stated in January 2019 that two new drugs for therapy (Ilumya and Tremfya) would be included in the Pharmaceutical Benefits Scheme (PBS), saving patients up to USD 32,600 per year. Latin America and the Middle East and Africa are predicted to develop at a significant CAGR due to market players shifting their focus to extend their operating network in untapped regions.

Strategic New Product Launches, Mergers, Acquisitions, And Agreements Are the Key Strategies Adopted by Market Players:
The global Pediatric Psoriasis 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 2022, Arcutis offered a public offering to raise USD 150 million in public capital. In August 2022, FDA approved ustekinumab (STELARA), developed by Johnson and Johnson to treat patients with Psoriatic Arthritis.

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The pediatric psoriasis market is segmented based on type, treatment, end user, and geography
Based On the Type, The Market is Segmented into the Following:
• Plaque psoriasis
• Guttate psoriasis
• Pustular psoriasis
• Inverse psoriasis
• Erythrodermic psoriasis
• Mucosal/oral psoriasis
• Nail psoriasis
• Napkin or diaper psoriasis
• Photosensitive psoriasis
• Flexural psoriasis

Based On Treatment, The Market is Segmented into the Following:
• Topical therapy
• Oral
• Injections
• Biologics
• Natural supplements
• Phototherapy

Based On End User, The Market is Segmented into The Following:
• Hospitals
• Specialty Clinics
• Ambulatory Care Centers
• Research Organizations

Based On Geography, The Market is Segmented into the Following:
• North America
• Europe
• Asia-Pacific
• Middle East and Asia
• Latin America

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Key players' profiles in the pediatric psoriasis market are AbbVie Inc., Amgen Inc., Eli Lilly & Company, AstraZeneca, Celgene Corporation, Johnson & Johnson, Novartis AG, Merck, Boehringer Ingelheim, LEO Pharma, and UCB.

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This release was published on openPR.