Press release
Major Market Shift in Psoriasis Industry: Combination Therapy Is An Emerging Trend In The Psoriasis Market
Psoriasis Market Size
The market scope for psoriasis has seen substantial growth in the past years. It is projected to escalate from $26.56 billion in 2024 to $29.5 billion in 2025, with a compound annual growth rate (CAGR) of 11.1%. Factors such as epidemiology, patient awareness and education, along with healthcare infrastructure and access have contributed to the growth in the historic period.
Expectations are high for significant expansion in the psoriasis market in the coming years, with estimates indicating it will reach a value of $42.34 billion by 2029, thanks to a compound annual growth rate (CAGR) of 9.4%. This predicted growth within the forecast period can be credited to factors such as regulatory approvals, patient preferences, an aging population, elevated awareness, and the launch of innovative therapies. The forecast period is highlighted by trends including progress in research and development, biologics and targeted therapies, oral small molecule therapies, personalized medicine, telemedicine and digital health, patient-focused care, biosimilars, and the application of artificial intelligence and machine learning.
What Factors Are Propelling the Expansion of the Psoriasis Market?
The increase in the number of individuals dealing with psoriasis is fuelling the Psoriasis market's expansion. Root causes of psoriasis include the immune system, genetics, as well as the environment. The surge in cases of psoriasis in previous years can be chiefly linked to factors such as climate alterations, stress, and poor health habits. The World Psoriasis Day consortium reports that psoriasis affects 125 million individuals worldwide, accounting for 2 to 3% of the overall population. Thus, the growing occurrence of psoriasis patients will likely spur the development of the psoriasis market in the forecast period.
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Which Businesses Are at the Forefront of Psoriasis Market Development?
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
What Are the Latest Innovations in the Psoriasis Market?
An evolving trend in the psoriasis market is the implementation of combination therapy. This type of treatment involves the simultaneous use of two distinct remedies for psoriasis. It's observed that when two medications, each with their unique action mechanisms, are applied together (combination therapy), the outcome surpasses that which is achieved by monotherapy, which involves using only one drug. Research indicates that combination therapy more effectively mitigates psoriasis symptoms compared to a singular approach, while also having fewer side effects. One instance of combination therapy being employed to treat active psoriatic arthritis (PsA) is the use of taltz (ixekizumab) in conjunction with methotrexate, a treatment pioneered by Eli Lilly and Company.
How Is the Psoriasis Market Segmented?
The psoriasis market covered in this report is segmented -
1) By Drug class: Interleukin Inhibitors, Corticosteroids, Anti-Inflammatory, Tumor Necrosis Factor Inhibitor
2) By Drug Types: Small molecules, Biologics
3) By Disease Indication: Plaque Psoriasis, Nail Psoriasis, Guttate Psoriasis, Pustular Psoriasis, Erythrodermic Psoriasis
4) By Route Of Administration: Oral, Tropical, Injectable
5) By Distribution Channel: Hospitals, Retail Pharmacies, E-Commerce
Subsegments:
1) By Interleukin Inhibitors: IL-12/23 Inhibitors (Ustekinumab), IL-17 Inhibitors (Secukinumab, Ixekizumab)
2) By Corticosteroids: Topical Corticosteroids (Hydrocortisone, Betamethasone), Systemic Corticosteroids (Prednisone)
3) By Anti-Inflammatory: Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Biologic Anti-Inflammatory Agents (Apremilast)
4) By Tumor Necrosis Factor (TNF) Inhibitors: Adalimumab (Humira), Etanercept (Enbrel), Infliximab (Remicade)
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Where Is the Psoriasis Market Growth Most Prominent?
North America was the largest region in the psoriasis market in 2023. Middle East is expected to be the fastest-growing region in the psoriasis market during the forecast period. The regions covered in the psoriasis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Psoriasis Global Market Report?
- Market Size Analysis: Analyze the Psoriasis Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Psoriasis Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Psoriasis Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Psoriasis Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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