The global psoriasis therapeutics market is expected to be valued at USD 21.4 billion by 2022, according to a new report by Grand View Research, Inc. The increasing number of reimbursement policies for treatment, advanced diagnostic tools, rising disease awareness and improved technological systems are likely to increase the adoption of therapeutics.
Additionally, the rising prevalence and incidence of psoriasis is anticipated to fuel the market growth. The condition has neither exact causes nor treatments to cure. Certain environmental and genetic factors may trigger the disease onset. Most treatments for the condition target to decelerate the severity of the disease by stopping the keratinocyte hyperproliferation. The disease symptoms can be managed by following a healthy lifestyle.
Psoriasis can be classified into five types: Plaque, Guttate, Inverse, Pustular and Erythrodermic. The types vary in characterization of lesions and location of the body affected. Plaque psoriasis is the commonest and erythrodermic psoriasis is the rarest type of psoriasis affecting patients all over the world.
The prevalence of psoriasis has seen a gradual increase over the years across the different geographical locations. This increase in prevalence can be related to lifestyle changes, environmental and genetic factors triggering the condition and its implications. This could also be related to the resistance or declining response to therapies for controlling the disease
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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 adoption of IL-inhibitor therapy over conventional TNF-inhibitors
Interleukin-inhibitors is expected to grow at a lucrative CAGR of over 19.0% over the forecast period because of improved safety and efficacy profiles of Interleukin-inhibiting drugs.
The U.S is the dominant regional market.in the psoriasis space in terms of revenue in 2016 due to the increasing number of patients seeking treatment and presence of well-established healthcare services.
Japan is expected to be the fastest growing region over the next decade with a lucrative CAGR from 2016 to 2022 due to growing awareness about the disease among the people.
Some of the key players in this industry are AbbVie Inc., Amgen Inc., Johnson & Johnson, Novartis AG, Eli Lilly & Company, AstraZeneca and Celgene Corporation.
Grand View Research has segmented the global psoriasis therapeutics market based on therapeutic class and treatment:
Therapeutic Class Outlook (Revenue, USD Million; 2016 - 2022)
Tumor Necrosis Factor Inhibitor
Treatment Outlook (Revenue, USD Million; 2016 - 2022)
Over-the-counter (OTC) topicals
Tumor Necrosis Factor (TNF) Inhibitors
Interleukin 12 and 23 (IL-12/23) Inhibitors
Interleukin 17 (IL-17) Inhibitors
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