Press release
Psoriasis Market Report 2024: Strategies And Recent Developments | AbbVie Inc., Pfizer Inc., Novartis AG, Eli Lilly and Company, Celgene Corporation, Johnson & Johnson
Psoriasis Market Size
The Business Research Company offers in-depth market insights through Psoriasis Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The psoriasis market size has grown rapidly in recent years. It will grow from $23.87 billion in 2023 to $26.5 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to epidemiology, patient awareness and education, healthcare infrastructure and access.
The psoriasis market size is expected to see rapid growth in the next few years. It will grow to $39.17 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to regulatory approvals, patient preferences, aging population, increased awareness, introduction of novel therapies. Major trends in the forecast period include advancements in research and development, biologics and targeted therapies, oral small molecule therapies, personalized medicine, telemedicine and digital health, patient-centric care, biosimilars, artificial intelligence and machine learning.
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Market Segmentation:
The main classes of drugs in psoriasis are interleukin inhibitors, corticosteroids, anti-inflammatory, and tumor necrosis factor inhibitors. Corticosteroids are a group of steroid hormones generated by vertebrates' adrenal cortex and are also synthetic equivalents of these hormones. The different types of drugs include small molecules and biologics and involve various disease indications such as plaque psoriasis, nail psoriasis, guttate psoriasis, pustular psoriasis, and erythrodermic psoriasis. The several routes of administration include oral, topical, injectable, and distributed through hospitals, retail pharmacies, and e-commerce.
Major Driver - Prevalence Of Psoriasis Driving Market Growth
The rise in the prevalence of psoriasis patients is driving the Psoriasis market. Psoriasis is caused due to immune system, genetics, and environment. The rise in psoriasis patients in the past few years can be mainly attributed to climate change, stress, and an unhealthy lifestyle. According to the World Psoriasis Day consortium, 125 million people globally - 2 to 3% of the total population have psoriasis. Therefore, the rise in the prevalence of psoriasis patients is expected to propel the growth of the psoriasis over forecast period.
Competitive Landscape:
Major companies operating in the psoriasis market include AbbVie Inc., Pfizer Inc., Novartis AG, Eli Lilly and Company, Celgene Corporation, Johnson & Johnson, Amgen Inc., Boehringer Ingelheim GmbH, Merck & Co. Inc., Janssen Biotech Inc., Takeda Pharmaceutical Company Limited, Stiefel Laboratories Inc., AstraZeneca Inc., Union Chimique Belge SA, Sun Pharmaceutical Industries Ltd., Forward Pharma AS, Almirall SA, Bausch Health Companies Inc., Biogen Inc., Biocon Biopharmaceuticals Pvt. Ltd., Celltrion Inc., Dr.Reddy's Laboratories Inc., Arcutis Biotherapeutics Inc., Bayer AG, Bristol Myers Squibb Co., Dermira Inc., Galderma SA, GlaxoSmithKline Plc, Incyte Pharmaceuticals Corp., LEO Pharmacy
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Top Trend - Combination Therapy Is An Emerging Trend In The Psoriasis Market
Combination therapy is an emerging trend in the psoriasis market. Combination therapy is an f treatment that combines two different psoriasis treatments at the same time. When two drugs with different mechanisms of action are combined (combination therapy), the effect is greater than that obtained by monotherapy (treatment with a single drug). Studies suggest that combination therapy eases psoriasis symptoms more effectively than a single therapy and has lesser side effects. An example of combination therapy for the treatment of active psoriatic arthritis (PsA) is taltz (ixekizumab) with methotrexate developed by Eli Lilly and Company.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Psoriasis Market Characteristics
3. Psoriasis Market Trends And Strategies
4. Psoriasis Market - Macro Economic Scenario
5. Psoriasis Market Size And Growth
…..
27. Psoriasis Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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