Psoriasis treatments offer a range of applications, features, and uses to manage the chronic skin condition. Topical treatments such as creams and ointments target affected areas to reduce inflammation and scaling. Phototherapy utilizes UV light to slow skin cell growth. Systemic medications, such as biologics, work internally to suppress the immune response causing psoriasis. These treatments aim to alleviate symptoms, improve skin appearance, and enhance patients' quality of life. The choice of treatment depends on the severity of psoriasis and individual patient characteristics, making personalized care essential for effective management.
According to Data Bridge Market Research, the Global Psoriasis Treatment Market is expected to grow with a CAGR of 7.85% in the forecast period of 2022 to 2029.
“Rise in the prevalence of psoriasis boosts the market’s growth”
The global rise in the prevalence of psoriasis is a significant driver for the growth of the psoriasis treatment market. As the number of psoriasis cases increases, the demand for effective treatment options surges. Pharmaceutical companies are investing in research and development to develop advanced therapies, including biologics and topical treatments, to address the condition. Additionally, the growing awareness about psoriasis and its impact on patient’s quality of life is prompting individuals to seek medical intervention, further fueling the market's expansion.
What restraints the growth of the global psoriasis treatment market?
“High cost associated with drug development restraints the market’s growth”
The high cost associated with drug development presents a significant restraint on the growth of the psoriasis treatment market. Research and development of new psoriasis treatments, especially biologics and targeted therapies, involve substantial investments in clinical trials, testing, and regulatory compliance. These costs are often passed on to consumers, making these treatments expensive. As a result, affordability becomes a challenge for patients, limiting access to advanced psoriasis treatments and hindering the market's potential for broader adoption and expansion.
Segmentation: Global Psoriasis Treatment Market
The global psoriasis treatment market is segmented on the basis of drug class, type, route of administration, application, and end user.
- On the basis of drug class, the psoriasis treatment market is segmented into corticosteroids, TNF inhibitors, interleukins, and others.
- On the basis of type, the psoriasis treatment market is segmented into plaque psoriasis, psoriatic arthritis, and others.
- On the basis of route of administration, the psoriasis treatment market is segmented into oral, parenteral , and topical.
- On the basis of application, the psoriasis treatment market is segmented into topical therapeutic drugs, systemic therapeutic drugs, and combinations.
- On the basis of end user, the psoriasis treatment market is segmented into hospital pharmacy, clinics, retail pharmacies, and online sales.
Regional Insights: North America dominates the Global Psoriasis Treatment Market
North America dominates the psoriasis treatment market due to the presence of developed healthcare infrastructure within the region is driving the growth of the psoriasis treatment market. Well-established healthcare facilities and advanced medical technologies enable better diagnosis, treatment, and management of psoriasis, attracting more patients seeking effective therapies, and contributing to the market's expansion.
Asia-Pacific is expected to witness high growth during the forecast period of 2022 to 2029 due to the large population in the region contributing to the growth of the psoriasis treatment market. With a significant number of people affected by psoriasis, there is a higher demand for effective treatment options. This large patient pool presents opportunities for pharmaceutical companies to cater to a substantial market, driving market growth.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-psoriasis-treatment-market
The Prominent Key Players Operating in the Global Psoriasis Treatment Market Include:
- Eli Lilly & Company (U.S.)
- Pfizer Inc. (U.S.)
- Janssen Global Services LLC (U.S.)
- Celgene Corporation (U.S.)
- Takeda Pharmaceutical Company Limited (Japan)
- Novartis International AG (Switzerland)
- Amgen Inc. (U.S.)
- Biogen Inc. (U.S.)
- Abbvie Inc. (U.S.)
- AstraZeneca (U.K.)
- Boehringer Ingelheim International GmbH (Germany)
- Johnson & Johnson Services Inc. (U.S.)
- Merck & Co. Inc. (U.S.)
- Sun Pharmaceuticals Industries Ltd. (India)
- Stiefel Laboratories (U.S.)
- UCB S.A. (Belgium)
- LEO Pharma (Denmark)
- Cipla Inc. (India)
- Rowan Bioceuticals (U.S.)
- Glenmark Pharmaceuticals (India)
- Win-Medicare Pvt. Ltd. (India)
Above are the key players covered in the report, to know about more and exhaustive list of global psoriasis treatment market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Psoriasis Treatment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
