Research Nester released a report titled “Psoriasis Drugs Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global psoriasis drugs market in terms of market segmentation by drug class, by route of administration, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Psoriasis is a skin disorder that leads to rapid cell growth on the skin resulting in the formation of cells on the surface which might be itchy and painful. This is a chronic health condition which cannot be cured, but the symptoms can be managed. The market for psoriasis drugs is projected to grow at a CAGR of about 9.8% over the forecast period, i.e., 2019-2027. The market is segmented by drug class, by route of administration, by distribution channel and by region, out of which, the drug class segment is further segmented into corticosteroids, tumor necrosis factor (TNF) alpha inhibitors, PDE4 inhibitors, interleukin inhibitors and others. The TNF alpha inhibitor segment holds the largest share in the psoriasis drugs market, however, the interleukin inhibitors segment is anticipated to witness the highest growth rate during the forecast period as a result of higher demand for these drugs over the conventional TNF alpha inhibitors.
On the basis of region, psoriasis drugs market in North America is predicted to hold the largest share as a result of the growing prevalence of psoriasis in the region. In addition to this, the various government initiatives supporting the psoriasis drugs along with the presence of developed healthcare facilities are some other factors predicted to result in growth of the market over the forecast period.
Higher Demand for Combination Therapies to Support the Market Growth
According to the International Federation of Psoriasis Associations, around 3% of the world’s total population has psoriasis. The rising cases of psoriasis generate the demand for new and improved therapies, such as combination therapy. This therapy provides faster results with much lower side-effects of the drugs. The development of such therapies is anticipated to expand the market in the upcoming years. However, the high cost of psoriasis drugs and the side-effects associated with it including high blood pressure, liver damage and kidney damage are estimated to hamper the market growth during this period.
This report also provides the existing competitive scenario of some of the key players of the global psoriasis drugs market which includes company profiling of Pfizer Inc. (NYSE: PFE), Novartis AG (SWX: NOVN), GlaxoSmithKline plc. (LON: GSK), Johnson & Johnson Services, Inc. (NYSE: JNJ), Amgen Inc. (NASDAQ: AMGN), Celgene Corporation, AbbVie Inc. (NYSE: ABBV), Eli Lilly and Company (NYSE: LLY), AstraZeneca (LON: AZN) and Biocon (NSE: BIOCON). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global psoriasis drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.