Pediatric Psoriasis Market Growth Accelerated by Novel Drug Approvals and Expanding Healthcare Access in Developing Countries

The newly published report titled "Global Pediatric Psoriasis Market (By Product (Plaque Psoriasis, Guttate Psoriasis, Pustular Psoriasis, Inverse Psoriasis, Erythrodermic Psoriasis, Mucosal/Oral Psoriasis, Nail Psoriasis, Napkin Or Diaper Psoriasis, Photosensitive Psoriasis, Flexural Psoriasis), Treatment ( Topical Therapy, Oral Injections, Biologics, Natural Supplements, And Phototherapy), End-User (Hospitals, Specialty Clinics, Ambulatory Care Centers, And Research Organizations.))- Trends, Industry Competition Analysis, Covid-19 Analysis, Revenue (US$ Billions) and Forecast Till 2034." of InsightAce Analytic Pvt. Ltd. features detailed industry analysis and an extensive study on the market, exploring its significant factors.

The global pediatric psoriasis market is estimated to reach over USD 47.7 Bn by the year 2034, exhibiting a CAGR of 12.6% during the forecast period.

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Pediatric psoriasis is a chronic, debilitating condition that significantly impacts children's physical and emotional well-being. When considering phototherapy as a treatment for young patients, the challenges associated with prolonged sun exposure make long-term management more difficult. Pediatric psoriasis can manifest in three distinct forms: early-onset psoriasis, self-limited disease of infancy, and pediatric psoriasis with psoriatic arthritis.

The global pediatric psoriasis market is primarily driven by increased research and development efforts focused on the creation of advanced biologics with enhanced clinical efficacy, alongside the rising demand for more sophisticated and affordable treatment options for pediatric patients. The condition is characterized by the rapid proliferation of skin cells, which accumulate in patches, leading to the formation of lesions.

Market growth is further supported by government initiatives aimed at addressing pediatric psoriasis, a surge in R&D activities that are expected to yield new therapeutic options, cost-effective treatment approaches, and heightened awareness of rare diseases. However, challenges such as limited awareness in emerging markets and insufficient funding for research may pose barriers to further expansion.

The pediatric psoriasis treatment market is anticipated to benefit from the growing trend toward personalized medicine, enabling more effective disease management. Industry players are increasingly focusing on biologics as a key area for innovation to meet the growing demand in developed markets, where advancements in medical science are progressing rapidly. To strengthen their market position, manufacturers are encouraged to pursue strategic partnerships and acquisitions to diversify their product portfolios and enhance their global market presence.

List of Prominent Players in the Pediatric Psoriasis Market:
AbbVie Inc.
Amgen Inc
Johnson & Johnson
Novartis AG
Eli Lilly & Company
AstraZeneca
Celgene Corporation
UCB
Merck
Boehringer Ingelheim
LEO Pharma and others.

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Market Dynamics
Drivers:
The pediatric psoriasis treatment market is expected to grow as the number of affected children rises. The approval of new biologic medications, the development of novel drugs, and improved access to psoriasis therapies in developing nations are key factors driving market expansion. Increased government involvement in pediatric psoriasis treatment, alongside rising research and development activities leading to the introduction of new therapies, cost-effective treatment options, and a growing awareness of rare diseases, will further fuel market growth. The trend toward personalized medicine for more efficient disease management is also expected to propel demand in this sector. Companies are focusing on leveraging the popularity of biologics for product innovation to meet the increasing demand in developed regions, where medical advancements are rapidly progressing. Manufacturers are also advised to pursue strategic partnerships and acquisitions to diversify their product portfolios and enhance their market presence.

Challenges:
Several challenges may hinder the market's growth, including a lack of awareness in developing regions and limited research funding. Additionally, the high cost of pediatric psoriasis treatments and accessibility issues are expected to restrict overall market expansion. The COVID-19 pandemic exacerbated these challenges by prompting full or partial suspensions in manufacturing and distribution activities to maintain social distancing measures. This disruption led to significant financial losses for many businesses within the pediatric psoriasis market due to supply chain breakdowns. Wholesalers, suppliers, and retail chains were left with unsold inventory, while manufacturers faced production halts.

Regional Trends:
The North American pediatric psoriasis treatment market is projected to capture a substantial revenue share and exhibit a high compound annual growth rate (CAGR) in the coming years. This growth is driven by increased research and development focused on advanced biologics, rising demand for more effective treatments, greater awareness of chronic skin conditions, and the presence of major industry players in the region. The region is also set to benefit from a robust product pipeline among leading competitors.

In the Asia Pacific region, the pediatric psoriasis treatment market is expected to experience significant growth. The rising incidence of psoriasis diagnoses and treatments in healthcare systems across emerging economies is driving this expansion. Additionally, the growing use of biologics in China and Japan is anticipated to further accelerate market growth in the region.

Recent Developments:
• In February 2021-Amgenthat it submitted an additional New Drug Application (sNDA) to the American Food and Drug Administration (FDA) for the drug Otezla (apremilast), which is used to treat adults with mild-to-moderate plaque psoriasis.
• In August 2021-AbbVie submitted applications to the European Medicines Agency (EMA) and the U.S. (FDA) for approval of SKYRIZI (risankizumab-Raza, 150 mg) for the treatment of people with active psoriatic arthritis.

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Segmentation of Pediatric Psoriasis Market-
By Type
• Plaque psoriasis
• Guttate psoriasis
• Pustular psoriasis
• Inverse psoriasis
• Erythrodermic psoriasis
• Mucosal/oral psoriasis
• Nail psoriasis
• Napkin or diaper psoriasis
• Photosensitive psoriasis
• Flexural psoriasis
By Treatment
• Topical therapy
• Oral
• Injections
• Biologics
• Natural supplements
• Phototherapy
By End Use
• Hospitals
• Specialty Clinics
• Ambulatory Care Centers
• Research Organizations"
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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