Psoriasis Treatment Market Recent Developments Study Analysis

Psoriasis Treatment Market Outlook 2031
The global psoriasis treatment market was valued at US$ 18.8 Bn in 2021
The global market is projected to advance at a CAGR of 8.7% from 2022 to 2031
The global psoriasis treatment market is anticipated to reach more than US$ 44 Bn by the end of 2031

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Overview of Psoriasis Treatment Market

Rise in the psoriasis patient pool, approval of new biologic drugs for psoriasis, novel drug pipeline, and increase in access to psoriasis treatment in developing countries are anticipated to propel the global psoriasis treatment market.

Psoriasis is an autoimmune noncontagious disorder characterized by rapid and excessive proliferation of skin cells, resulting in patches of abnormal skin. Psoriasis is considered a long-term skin disorder characterized by plaques and thickened skin. Commonly affected areas on the body are around the scalp, knees, navel, and back of the forearms. Psoriasis is triggered by various factors, including environmental factors and genetic deformity. It is considered a non-curable disorder; however, a few treatments can ease the symptoms. Patients are likely to develop psoriatic arthritis at a faster rate. The number of patients with psoriatic arthritis has increased significantly over the last few years.

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Approval of New Biologics for Psoriasis Treatment to Benefit Healthcare Companies

Biologics have altered the landscape in the management of moderate to severe psoriasis by achieving improved skin clearance, control of symptoms, and quality of life for many affected people. Usage of biologics in psoriasis treatment has resulted in lucrative prospects for manufacturers in the market, as they compete for the development of new products to stay competitive in the market.

In April 2019, Novartis AG announced that the China Health Authority NMPA approved Cosentyx (secukinumab), the first-in-class interleukin-17A (IL-17A) inhibitor for moderate-to-severe plaque psoriasis in adult patients who are candidates for systemic therapy or phototherapy. This indicates promising potential of the plaque psoriasis treatment among patients.

Increase in Access to Psoriasis Treatment in Developing Economies to Propel Global Market

Psoriasis diagnosis and treatment alternatives are undergoing a sea change in emerging economies. Awareness about psoriasis is increasing in developing countries such as China and India due to various campaigns by governments and healthcare professionals. It has become easy to access physicians or dermatologists for treatment in developing countries.

In November 2018, Novartis Corporation Malaysia launched 'Be Pso Positive', a psoriasis campaign in Malaysia. The campaign was created by Edelman Malaysia in association with the Psoriasis Association of Malaysia and True Complexion. This is expected to increase the number of patients treated for psoriasis, thereby augmenting the psoriasis treatment market during the forecast period.

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Superior Efficacy and Safety of Drugs to Boost Demand for Interleukin Inhibitors

In terms of drug class, the global psoriasis treatment market has been classified into TNF inhibitors, interleukin inhibitors, vitamin D analogs, corticosteroids, and others. The interleukin inhibitors segment is projected to dominate the global psoriasis treatment market during the forecast period. The segment's large market share can be attributed to the superior efficacy and safety of drugs in this class for the treatment of psoriasis. Rise in acceptance of this drug class is attributable to interleukin blockers, which are considered a viable option for patients who do not respond to other treatments.

Launch of New Drugs Administered through Injection to Augment Parenteral Treatment Options

Based on route of administration, the global psoriasis treatment market has been segregated into oral, parenteral, and topical. The parenteral segment accounted for the major share of the market in 2021. This trend is expected to continue during the forecast period. Growth of the segment can be ascribed to the increase in launch of new drugs to be administered through injection or intravenous (IV) infusion; and surge in the adoption of biologics for the treatment of psoriasis.

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High Sales of Biologics in Developed Countries to Drive Revenue Flow in Retail Pharmacies

In terms of distribution channel, the global psoriasis treatment market has been divided into hospital pharmacies, retail pharmacies, and others. Retail pharmacies is projected to be a highly lucrative segment of the global market during the forecast period owing to higher sales of biologics in developed countries, including the U.S. and Canada.

Analysis of Key Players in Psoriasis Treatment Market

Manufacturers of psoriasis drugs are focusing on the launch of new products and are promoting their brands in order to increase market share. Psoriasis drug manufacturers emphasize on new marketing strategies to boost product penetration. Companies consider product approval and launch as a critical component of their growth strategy. They also concentrate on developing a value chain for major regional markets, as well as developing new psoriasis drugs and long-term solutions. Key players operating in the global psoriasis treatment market include Amgen, Inc., Eli Lilly and Company, Novartis AG, Merck & Co., Inc., Johnson & Johnson, Pfizer, Inc., AstraZeneca plc, AbbVie, Inc., LEO Pharma A/S, and Biogen, Inc.

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Key Developments in Global Psoriasis Treatment Market

In February 2021, Amgen announced the submission of a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for Otezla (apremilast) for the treatment of adults with mild-to-moderate plaque psoriasis
In April 2021, AbbVie announced that it had submitted applications seeking approval for SKYRIZI (risankizumab-rzaa, 150 mg) to the U.S. Food and Drug Administration (FDA), and for SKYRIZI (risankizumab, 150 mg) to the European Medicines Agency (EMA), for the treatment of adults with active psoriatic arthritis
Each of these players has been profiled in the psoriasis treatment market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.

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