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

Psoriasis Therapeutics Market Size & CAGR in 2021

The global psoriasis therapeutics market is expected to reach a valuation of USD 12.6 billion by the end of 2021, with a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period from 2021 to 2026. The market is driven by the increasing prevalence of psoriasis globally, coupled with the growing demand for advanced treatment options.

COVID-19 Impact on the Psoriasis Therapeutics Market

The COVID-19 pandemic has had a mixed impact on the psoriasis therapeutics market. While the initial lockdowns and restrictions disrupted supply chains and affected the availability of dermatology services, the market witnessed a surge in demand for telehealth services and online consultations, leading to increased adoption of digital platforms for prescribing psoriasis medications. Moreover, the focus on maintaining overall health and well-being during the pandemic has further emphasized the importance of managing chronic skin conditions like psoriasis.

Psoriasis Therapeutics Dynamics

The psoriasis therapeutics market is driven by factors such as the increasing prevalence of psoriasis, advancements in treatment options, growing awareness about the condition, and rising healthcare expenditure worldwide. Additionally, the development of biologic therapies and personalized treatment approaches has revolutionized the management of psoriasis, offering improved efficacy and safety profiles for patients.

Segments and Related Analysis

The psoriasis therapeutics market can be segmented based on treatment type, route of administration, distribution channel, and region. Common treatment types include topical therapies, phototherapy, systemic medications, and biologic agents. The route of administration can vary from oral medications to injectable biologics. Different distribution channels include hospital pharmacies, retail pharmacies, and online pharmacies.

By Region Analysis

The global psoriasis therapeutics market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominates the market due to the high prevalence of psoriasis, well-established healthcare infrastructure, and a strong focus on research and development. However, the Asia Pacific region is expected to witness the fastest growth during the forecast period, driven by the increasing awareness about skin conditions, improving access to healthcare services, and rising disposable incomes.

Key Market Players and Competitive Landscape

Some of the key players in the psoriasis therapeutics market include AbbVie Inc., Amgen Inc., Johnson & Johnson, Novartis AG, Eli Lilly and Company, Biogen Inc., and Sun Pharmaceutical Industries Ltd. These companies are actively engaged in product development, strategic collaborations, and acquisitions to enhance their market presence and cater to the evolving needs of patients with psoriasis.

Recent Happenings in the Psoriasis Therapeutics Market

In recent years, the psoriasis therapeutics market has witnessed significant developments, such as the approval of novel biologic therapies, the introduction of targeted treatment options, and the launch of digital health platforms for remote monitoring and management of psoriasis. Moreover, ongoing research studies are exploring innovative treatment modalities, including gene therapy and stem cell-based approaches, to provide more effective and personalized solutions for patients with psoriasis.