Psoriasis Drugs Market Size Is Predicted To Reach $21.11 Billion by 2022

The global psoriasis drugs market size is expected to be valued at USD 21.11 billion by 2022, as per a new report by Grand View Research, Inc., experiencing a CAGR of 9.4% during the forecast period. Rising disease awareness, an increasing number of reimbursement strategies for biologics, and advanced diagnostic and technological tools are likely to increase the adoption of psoriasis therapeutics.

Additionally, the expanding base of patients suffering from psoriasis is anticipated to fuel growth prospects. The exact causative factors for psoriasis are undetermined; however, certain genetic and environmental factors may trigger the disease onset. Most available treatments aim to decelerate disease progression by stopping the hyperproliferation of keratinocyte.

Psoriasis can be classified into five types: plaque, guttate, inverse, pustular, and erythrodermic. The types vary in terms of the site of disease and characterization of lesions. Erythrodermic psoriasis is the rarest and plaque psoriasis is the most prevalent type affecting patients all over the world.

The incidence rate of psoriasis has witnessed a gradual rise over the years across various geographical locations. This increase can be attributed to genetic and environmental triggers as well as lifestyle changes. The rise in prevalence rates could also be associated with declining response or developing resistance to therapies for disease control.

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Further key findings from the report suggest:

• Tumor Necrosis Factor-inhibitors dominated the market in 2016 owing to its higher usage by healthcare practitioners and easy availability
• TNF-inhibitors are likely to lose market shares over the forecast period due to increasing preference for IL-inhibitor therapy to conventional TNF-inhibitors
• Interleukin-inhibitors is expected to register a lucrative CAGR of over 21.0% during the forecast period owing to improved safety and efficacy profiles of Interleukin-inhibiting drugs
• The U.S is the dominant region in the psoriasis market in terms of revenue in 2016 due to the increasing number of patients seeking treatment and the presence of well-established healthcare services
• Japan is expected to be the fastest-growing region during the same period due to growing awareness about the disease among the populace
• Some of the key players in this industry are AbbVie Inc.; Amgen Inc.; Johnson & Johnson; Novartis AG; Eli Lilly & Company; AstraZeneca; Celgene Corporation; UCB; and Merck.

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Grand View Research has segmented the global psoriasis drugs market based on therapeutic class, treatment, and region:

Therapeutic Class Outlook (Revenue, USD Million, 2016 - 2022)

• Tumor Necrosis Factor Inhibitor
• Interleukin Inhibitors
• Others

Treatment Outlook (Revenue, USD Million, 2016 - 2022)

• Topicals
• Systemic
• Biologics

Regional Outlook (Revenue, USD Million, 2016 - 2022)

• The U.S.
• The U.K.
• Germany
• Spain
• France
• Italy
• Japan

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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