Press release
Global Chronic Plaque Psoriasis Market to Reach $29.33 Billion by 2029, Growing at 7.1% CAGR
Chronic Plaque Psoriasis
The escalating instances of immune system malfunctions are anticipated to fuel the expansion of the chronic plaque psoriasis market in future. The term immune system dysfunction represents a condition in which the immune system becomes ineffective, thereby raising vulnerability to infections, autoimmune diseases, and cancer. The escalating instances of this dysfunction are linked to elements such as genetic factors, environmental causes, malnutrition, chronic stress, and the growing incidence of autoimmune diseases and infections like HIV. The treatment of chronic plaque psoriasis is essential to manage immune system flaws, as the immune system erroneously prompts excessive production of skin cells, resulting in inflammation and plaque creation. For example, the National Psoriasis Foundation, a non-profit organization based in the US, stated in December 2022 that psoriasis affects over 8 million Americans. On a global scale, the ailment impacts 125 million individuals, equating to 2 to 3% of the total population. Consequently, the escalating instances of immune system dysfunction are spurring the expansion of the chronic plaque psoriasis market.
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How will the growth rate of the chronic plaque psoriasis market shape industry trends by 2034?
Recent years have witnessed robust growth in the size of the chronic plaque psoriasis market. Forecasts suggest it will expand from $20.79 billion in 2024 to $22.32 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. Factors contributing to the growth during the historic period include increased prevalence of psoriasis, a higher incidence of co-morbidities, beneficial reimbursement policies, escalated consumption of alcohol and tobacco, and the advent of telemedicine.
The market size for chronic plaque psoriasis is predicted to witness substantial expansion in the forthcoming years, reaching a worth of $29.33 billion by 2029, with a compound annual growth rate (CAGR) of 7.1%. Various factors such as the escalating or diminishing global prevalence of cpp, surge in autoimmune diseases, increase in healthcare funds, elderly population, and rising demand for efficient therapies are contributing to the expansion in the projected period. Important trends for the same period encompass advancements in biologic treatments, oral small molecule inhibitors, the integration of digital health, precision medicine, and the debut of biosimilars.
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What trends are poised to drive the future success of the chronic plaque psoriasis market?
Leading organisations within the chronic plaque psoriasis market are prioritising the creation of novel treatments, such as IL-17A and IL-17F inhibitors, to revolutionise the management of chronic plaque psoriasis. IL-17A and IL-17F inhibitors are specified biological treatments that obstruct interleukin-17A and interleukin-17F, cytokines that cause inflammation within the immune response, with the aim of lowering inflammation in autoimmune illnesses like chronic plaque psoriasis. For example, UCB S.A., a biopharmaceutical firm based in Belgium, revealed in October 2023 that BIMZELX (bimekizumab-bkzx) had been given approval by the U.S. Food and Drug Administration (FDA) for use in adults who have moderate to severe plaque psoriasis and are suitable candidates for systemic therapy or phototherapy. Bimekizumab is the first certified psoriasis medication created specifically to block interleukin 17A (IL-17A) and interleukin 17F (IL-17F), which are crucial cytokines playing a role in inflammation. The validation of this drug was reliant on evidence provided by three Phase 3 multicenter trials named BE READY, BE VIVID, and BE SURE, which together evaluated its safety and effectiveness in 1,480 individuals suffering from moderate to severe plaque psoriasis.
Which primary segments of the chronic plaque psoriasis market are driving growth and industry transformations?
The chronic plaque psoriasis market covered in this report is segmented -
1) By Drug Class: Biologics, Small Molecule Drugs
2) By Route Of Administration: Injectable, Oral, Topical
3) By Distribution Channel: Hospital Pharmacy, Online Pharmacy, Retail Pharmacy
Subsegments:
1) By Biologics: Tumor Necrosis Factor (TNF) Inhibitors, Interleukin Inhibitors (IL-12, IL-23, IL-17, IL-22), T-Cell Inhibitors, Others
2) By Small Molecule Drugs: Phosphodiesterase 4 (PDE4) Inhibitors, Janus Kinase (JAK) Inhibitors, Retinoids, Others
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Which geographical regions are pioneering growth in the chronic plaque psoriasis market?
North America was the largest region in the chronic plaque psoriasis market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chronic plaque psoriasis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the chronic plaque psoriasis market landscape?
Major companies operating in the chronic plaque psoriasis market are Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., AbbVie Inc., Bristol-Myers Squibb Company, Novartis AG, Eli Lilly and Company, Amgen Inc., Boehringer Ingelheim, Biogen Inc., UCB S.A., Dr. Reddy's Laboratories, Innovent Biologics Inc., Dong-A ST Co. Ltd., Alumis GmbH Co KG, Zai Lab Limited, GC Cell Corporation, Affibody AB, Nimbus Therapeutics, Bio-Thera Solutions, Can-Fite Biopharma, Celgene Corporation, Kadmon Pharmaceuticals, Aldeyra Therapeutics Inc., Arcutis Biotherapeutics
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What Is Covered In The Chronic Plaque Psoriasis Global Market Report?
•Market Size Forecast: Examine the chronic plaque psoriasis market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the chronic plaque psoriasis market for a structured understanding.
•Key Players Overview: Analyze major players in the chronic plaque psoriasis market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the chronic plaque psoriasis market.
•Segment Contributions: Evaluate how different segments drive overall growth in the chronic plaque psoriasis market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the chronic plaque psoriasis market.
•Industry Challenges: Identify potential risks and obstacles affecting the chronic plaque psoriasis market.
•Competitive Landscape: Review strategic developments in the chronic plaque psoriasis market, including expansions, agreements, and new product launches.
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