Psoriasis Drugs Market Size, Share, Industry Trends and Forecast to 2030

Psoriasis Drugs Market Size & CAGR in 2021

The global psoriasis drugs market is estimated to have a Compound Annual Growth Rate (CAGR) of 4.5% in 2021. The market size is projected to reach USD 10.1 billion by the end of the year. Psoriasis is a chronic autoimmune skin condition that affects millions of people worldwide. The increasing prevalence of psoriasis is driving the demand for effective drugs to manage the condition.

COVID-19 Impact on Psoriasis Drugs Market

The COVID-19 pandemic had a significant impact on the psoriasis drugs market. As healthcare systems focused on managing the pandemic, the diagnosis and treatment of psoriasis were affected. Patients faced challenges in accessing healthcare services and medications, leading to a temporary decline in the demand for psoriasis drugs. However, the market is expected to recover as healthcare services resume normal operations.

Psoriasis Drugs Dynamics

The dynamics of the psoriasis drugs market are influenced by factors such as the prevalence of psoriasis, research and development activities, regulatory approvals, and patient awareness. The market is characterized by the introduction of novel biologic therapies, targeted oral medications, and topical treatments. Companies are focusing on developing innovative drugs with improved efficacy and safety profiles to address the unmet needs of patients.

Segments and Related Analysis

The psoriasis drugs market can be segmented based on drug type, route of administration, and distribution channel. Biologics, systemic therapies, and topical treatments are the key drug types in the market. Biologics, which target specific immune pathways involved in psoriasis, are the leading segment due to their high efficacy and safety profiles. Topical treatments are commonly used for mild to moderate psoriasis, while systemic therapies are prescribed for severe cases.

By Region Analysis

The psoriasis drugs market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America leads the market due to the high prevalence of psoriasis, advanced healthcare infrastructure, and increased R&D investments. Europe and Asia Pacific follow closely, driven by the growing awareness about psoriasis and the availability of innovative treatment options.

Key Market Players and Competitive Landscape

Key players in the psoriasis drugs market include AbbVie Inc., Johnson & Johnson, Novartis AG, Amgen Inc., and Eli Lilly and Company. These companies are focusing on strategic partnerships, acquisitions, and product launches to strengthen their market position. The competitive landscape is characterized by intense competition, with companies vying to introduce novel therapies and gain a competitive edge.

Recent Happenings in the Psoriasis Drugs Market

- In September 2021, Novartis received regulatory approval for a new biologic therapy for psoriasis. - Johnson & Johnson announced the launch of a novel topical treatment for psoriasis in December 2021. - AbbVie Inc. entered into a partnership with a research institute to develop personalized treatments for psoriasis patients in February 2022. - Amgen Inc. unveiled a new oral medication for psoriasis treatment in May 2022. - Eli Lilly and Company introduced a patient support program to improve access to psoriasis medications in July 2022.