Psoriasis Treatment Market Size & Share, By Drug Class (TNF Inhibitors, Interleukin Inhibitors), Treatment Type (Biologic Drugs, Small Molecule Systemic Drugs), Regional Forecast, Industry Players, Growth Statistics Report 2024-2035

Market Outlook:

Psoriasis Treatment Market size exceeded USD 27.24 Billion in 2023 and is estimated to cross USD 66.78 Billion by 2035, growing at over 11.31% CAGR during 2024 to 2035.

• Base Year Value (2023): USD 27.24 Billion
• CAGR (2024-2035): 11.31%
• Forecast Year Value (2035): USD 66.78 Billion
• Historical Data Period: 2019-2022
• Largest Region: North America
• Forecast Period: 2024-2035

Market Dynamics:

Psoriasis is a chronic autoimmune condition that affects the skin, with symptoms including red, scaly patches that can be itchy and painful. The global psoriasis treatment market is driven by several factors that contribute to its growth, as well as industry restraints and challenges that need to be addressed.

Growth Drivers & Opportunity:

One of the main growth drivers of the psoriasis treatment market is the increasing prevalence of the condition worldwide. According to the National Psoriasis Foundation, approximately 125 million people, or 2-3% of the global population, suffer from psoriasis. This increasing prevalence is expected to drive the demand for effective treatment options.

Advancements in treatment options are also contributing to market growth. The development of biologic drugs, which target the immune system to reduce inflammation, has revolutionized the treatment of moderate to severe psoriasis. These drugs have demonstrated high efficacy in controlling symptoms and improving the quality of life for patients.

Report Scope

Report Coverage	Details
Segments Covered	By Drug Class, Treatment Type
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Novartis International AG, UCB, AstraZeneca, Celgene, Johnson & Johnson, Pfizer Inc, Merck and Co. Inc, AbbVie, Amgen, and Eli Lilly and Company.

There is also a growing awareness and acceptance of psoriasis as a chronic condition, leading to a greater willingness to seek treatment. This shift in attitude has opened up opportunities for pharmaceutical companies to develop and market new treatment options for psoriasis patients.

Industry Restraints & Challenges:

Despite the growth drivers, the psoriasis treatment market faces several restraints and challenges. One of the main challenges is the high cost of biologic drugs, which can limit access for some patients. Additionally, the complex nature of the disease and the varying response to treatment among patients make it difficult to develop universally effective therapies.

Another challenge is the lack of a definitive cure for psoriasis, which results in a continuous need for long-term treatment. This presents a significant burden for both patients and healthcare systems, as it requires ongoing management and monitoring of symptoms.

Additionally, the regulatory hurdles associated with the development and approval of new treatment options pose a challenge for pharmaceutical companies. The stringent requirements for demonstrating safety and efficacy can prolong the time and resources required to bring new drugs to market.

Regional Forecast:

North America:

North America is expected to continue leading the psoriasis treatment market, owing to the high prevalence of the condition in the region. The presence of established healthcare infrastructure and growing adoption of biologic therapies further contribute to market growth. In addition, the presence of key market players and ongoing research and development activities in the region are expected to drive the market forward.

Asia Pacific:

The Asia Pacific region is anticipated to witness significant growth in the psoriasis treatment market, attributed to the increasing awareness about the condition and the growing focus on healthcare infrastructure development. The rising disposable income in emerging economies, coupled with the growing prevalence of psoriasis, is expected to drive market growth in the region. Furthermore, the presence of a large patient population and untapped market potential present opportunities for market expansion.

Europe:

Europe is expected to maintain a strong presence in the psoriasis treatment market, supported by the high prevalence of psoriasis and the availability of advanced treatment options. The region’s established healthcare systems, coupled with the presence of key market players, contribute to the market’s growth. Additionally, increasing investments in research and development activities are expected to drive innovation and the introduction of new treatment options in the European market.

In conclusion, the global psoriasis treatment market is driven by factors such as the increasing prevalence of the condition, advancements in treatment options, and growing awareness. However, challenges such as the high cost of biologic drugs, the lack of a definitive cure, and regulatory hurdles need to be addressed. The regional forecast for North America, Asia Pacific, and Europe indicates strong market growth, driven by the prevalence of psoriasis and advancements in healthcare infrastructure. Overall, the psoriasis treatment market is expected to continue growing, driven by the increasing demand for effective treatment options.

Segmentation Analysis:

Biologics:

Biologics are a type of treatment that target the immune system to reduce inflammation and slow down the rapid growth of skin cells associated with psoriasis. This sub-segment includes drugs like adalimumab, etanercept, and ustekinumab, which are widely used for moderate to severe psoriasis. Biologics are often preferred by patients who have not responded well to other treatments or have severe psoriasis that affects a large area of their body.

Topical Treatments:

Topical treatments are applied directly to the skin and are often used for mild to moderate cases of psoriasis. This sub-segment includes products such as corticosteroids, vitamin D analogs, and retinoids. These treatments help to reduce inflammation, itchiness, and scaling associated with psoriasis. They are often the first line of treatment for individuals with psoriasis affecting a small area of their body.

Competitive Landscape:

The competitive landscape of the psoriasis treatment market is characterized by the presence of several key players who are focused on the development of innovative and effective treatment options for patients. Some of the prominent companies in the market include AbbVie Inc., Amgen Inc., Johnson & Johnson, Novartis AG, and Pfizer Inc. These companies are actively engaged in research and development activities to introduce novel therapies for the management of psoriasis.

Furthermore, collaborations, partnerships, and strategic acquisitions are common strategies adopted by these market players to expand their product offerings and strengthen their position in the market. For instance, Novartis AG acquired the rights to tildrakizumab, a biologic treatment for psoriasis, from Almirall, S.A. in order to enhance its psoriasis treatment portfolio. Such strategic initiatives contribute to the overall growth and competitiveness of the psoriasis treatment market.