Press release
Psoriasis Biosimilars Market is on an Upward Growth Curve
According to the latest research by InsightAce Analytic, the Psoriasis Biosimilars Market is valued at US$ 8.5 billion in 2023, and it is expected to reach US$ 19.3 billion by 2031, with a CAGR of 10.9% during the forecast period of 2024-2031.
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A biosimilar is a biologic therapy that closely matches an FDA-approved reference biologic used in the management of psoriasis, a chronic autoimmune skin condition marked by rapid skin cell proliferation, inflammation, and scaling. Biosimilars are introduced after the expiration of the reference product's patent and are required to meet rigorous regulatory requirements to demonstrate comparable safety, efficacy, and quality.
The growth of the psoriasis biosimilars market is largely supported by the increasing global burden of psoriasis and the rising need for more affordable therapeutic options. In addition, expanding awareness among healthcare professionals and patients regarding the clinical effectiveness and reliability of biosimilars is contributing to higher acceptance rates and broader adoption of these treatments.
List of Prominent Players in the Psoriasis Biosimilars Market:
• Merck KGaA
• Coherus BioSciences
• Gyros Protein Technologies AB
• Fresenius Kabi
• Viatris
• Amgen Inc
• Samsung Bioepis Co., Ltd.
• Hoffmann-La Roche Ltd
• Celltrion
• Pfizer Inc.
• Samsung Bioepis
• Sandoz
• Novartis International AG
• Reddy's Laboratories
• GenScript
Drivers-
Escalating healthcare expenditures have increased the demand for economically viable treatment options, positioning biosimilars as an effective alternative to originator biologics. By delivering comparable therapeutic outcomes at a lower cost, biosimilars provide meaningful value for patients with psoriasis, supporting symptom control and improving overall quality of life. Growing interest from healthcare providers and payers seeking cost-efficient care models is further stimulating market growth.
Market Dynamics:
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Challenges:
The psoriasis biosimilars market continues to face regulatory challenges related to product development, approval, and commercialization. Variability in regulatory requirements, evolving approval pathways, and stringent standards for establishing biosimilarity and interchangeability contribute to prolonged timelines and increased compliance costs. These factors may delay market entry and restrict patient access to affordable treatment alternatives.
Regional Trends:
North America is expected to account for a significant share of the psoriasis biosimilars market, supported by a robust pharmaceutical ecosystem and advanced biotechnology research and development capabilities. Meanwhile, the Asia-Pacific region is experiencing strong growth due to progress in biopharmaceutical manufacturing, increasing acceptance of biosimilars, and a high regional prevalence of psoriasis. These dynamics highlight the region's expanding role in addressing long-term disease management through cost-effective therapeutic solutions.
Recent Developments:
• In July 2023, Coherus introduced YUSIMRYTM, a biosimilar of Humira®, priced at $995 per carton in the United States. YUSIMRY, sanctioned by the United States Food and Drug Administration (FDA) in 2021, is a tumour necrosis factor (TNF) inhibitor indicated for alleviating the signs and symptoms of rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, and ankylosing spondylitis, as well as for the treatment of Crohn's disease, ulcerative colitis, plaque psoriasis, and hidradenitis suppurativa.
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Segmentation of Psoriasis Biosimilars Market-
By Drug Class-
• TNF-alpha inhibitors
o Infliximab
o Etanercept
o Adalimumab
• Other biosimilars
By Route of Administration-
• Subcutaneous
• Intravenous
• Oral
• Topical
By Indication-
• Plaque psoriasis
• Psoriatic arthritis
• Other types
By Distribution Channel-
• Hospital pharmacies
• Retail pharmacy chains
• Online pharmacies
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
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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