Published: Feb, 2019
The global psoriasis treatment market exhibits a stiff completion. This is due to the increased investment into research and development of the potential psoriasis treatment techniques by the savvy players of the market. The competitive rivalry among these players is expected to rise further in the upcoming years. Some of the prominent players of the global psoriasis treatment market are LEO Pharma, Biogen, AstraZeneca, AbbVie and Pfizer.
A recently added report on global psoriasis treatment market by Transparency Market Research estimates that the market will attain worth of US$12.1 bn by 2024-end growing at a steady CAGR of 5.10% between 2016 to 2024.
Based on Geography, the global psoriasis treatment market is segmented into five prime regions: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Wherein North America has emerged as the key contributor of the global psoriasis treatment market and is expected to retain its leading position in the upcoming year as well. This is due to the rapid rise in number of people suffering from psoriasis in the region. Further, the presence of prominent drug manufacturing companies in the region have positively influenced market of the global psoriasis treatment market in the region. On the basis of product type, interleukin blockers segment is likely contribute in the growth of the global psoriasis treatment market in the upcoming years due to its ability to target selective proteins.
Rise in Psoriasis Patients across World Propel Growth
Rise in psoriasis patients is one factor which pose a prominent impact on the global psoriasis treatment market. Further, growing awareness among people regarding the psoriasis and it treatment has surge growth over the next few years. Other factor like FDA approval on usage of novel drugs and therapies for treatment of psoriasis has given a boost to the global psoriasis treatment market. Apart from this, improving healthcare infrastructure in emerging economies result in better access to a range of treatments. Strong product pipeline by the psoriasis drug manufacturer for the treatment of psoriasis is projected to propel the global psoriasis treatment market in the near future.
TNF Inhibitors to generate maximum sales
Based on product TNF Inhibitors, has emerged as the key products in worldwide for the treatment of psoriasis. This is due to its properties like high efficacy and non-reactive behavior. In future, the segment is expected to remain on top with more than 47 percent share of overall product market. However the high price associated with the treatment of the psoriasis is likely to dampen sales which results in slowing down of growth trajectory of the global psoriasis treatment market. Additionally, inefficiency of the current therapies over the complete treatment of psoriasis is another factor which may obstruct growth in the near future.
Whereas, a noticeable trend in the emerging economies of the region on account of huge money pour by the prominent players hold out a lot of promises to the global psoriasis treatment market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Psoriasis Treatment Market (Product - TNF Inhibitors, Vitamin D Analogues or Combinations, and Interleukin Blockers; Therapy - Topical Therapeutic Drugs, Systemic Therapeutic Drugs, and Combinations; Distribution Channel - Hospital Pharmacy, Retail Pharmacy, and Online Sales) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024.””
The Global Psoriasis Treatment Market has been segmented as given below:
Psoriasis Treatment Market, by Product
- TNF Inhibitors
- Vitamin D Analogues or Combinations
- Interleukin Blockers
Psoriasis Treatment Market, by Therapy
- Topical Therapeutic Drugs
- Systemic Therapeutic Drugs
Psoriasis Treatment Market, by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Sales
Psoriasis Treatment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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