Psoriasis Treatment Market Size, Share, Growth 2023-2029

The global psoriasis treatment market size was valued at USD 2,746.6 million in 2022 and is poised to grow at a significant CAGR of 8.2% during the forecast period 2023-29. The primary drivers of the expansion of the global psoriasis treatment market include the increasing prevalence of plaque psoriasis and psoriatic arthritis. In addition, the increase in investment in research and development and government approvals of drugs in psoriasis treatment is expected to boost the growth of psoriasis treatment market over the forecasted years.

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The psoriasis treatment market is segmented based on drug class, type, route of administration. distribution channel, and geography.

Based on the Drug Class, the market is segmented into the following:
• TNF Inhibitors
• Interleukins
• Others

Based on the type, the market is segmented into the following:
• Plaque Psoriasis
• Psoriatic Arthritis
• Others

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

Based on the distribution channel, the market is segmented into the following:
• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

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

Based on the drug class, the global Psoriasis Treatment market is segmented into TNF inhibitor, interleukins, and others. The TNF inhibitor segment is expected to account for a larger revenue share in the global psoriasis treatment market owing to the decline in prices of the products resulting from the entry of biosimilar versions and increasing prescription volumes of interleukins. The interleukins segment is expected to have a significant growth in the psoriasis treatment market due to the increasing research trials to evaluate the efficacy of these drugs across the globe in the treatment of psoriasis.

North America Psoriasis Treatment Market:
The North America psoriasis treatment market is expected to increase over the forecast period due to increasing demand for psoriasis treatment and upsurge of research and development od pipeline drugs. In addition, the adoption of advanced technology in treatment therapies, increasing spendings on research and development by the key market players on clinical trials and growing long term & preventive health care facility in this region is expected to boost the growth of psoriasis treatment in this region over the forecasted period. The Europe and Asia Pacific region is expected to have an significant growth in the forecasted period due to the increasing government approaches to spread awareness about psoriasis disorder. And government support in the development and approval of psoriasis treatment in this region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.

The global 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 November 2021, AbbVie Inc. got the approval for SKYRIZI subcutaneous injection to treat active psoriatic arthritis from the European Commission.

In September 2021, LEO Pharma A/S announced the partnership with Veeva Systems to continue clinical trials with high significance.

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Key players profiles in the Psoriasis Treatment Market report are AbbVie Inc., Novartis AG, Johnson & Johnson Services Inc., Pfizer Inc., LEO Pharma A/S, Merck & Co Inc., Amgen Inc., Eli Lilly and Company, Evelo Biosciences Inc., Sun Pharmaceuticals Industries Ltd.

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This release was published on openPR.