Market Scenario
Psoriasis is a chronic non-contagious disease in which a person’s immune system sends faulty signals directing skin cells to grow too quickly. New skin cells forms in days rather than weeks resulting in their pilling up on the surface of the skin, causing patches of psoriasis. Most of the time it also affects fingers and nails resulting in painful disfiguration and partial disability. Psoriasis affects mostly knees, elbows, and scalp, but other body parts may also be affected. Thus, it has a heavy negative effect on the quality of life and results in social stigma. Although it can occur at any age but most commonly it occurs in the age group of 50–70. The exact cause and etiology of psoriasis is still unknown but usually auto-immunity, genetics and environmental factors are involved. Psoriasis is also associated with a host of co-morbidities such as psoriatic arthritis, ophthalmologic pathologies, diabetes, inflammatory bowel disease etc. According to the World Health Organization (WHO), 1.3% to 34.7% of individuals with psoriasis develop chronic psoriatic arthritis which may lead to joint deformations and disability. From 4.2% to 69% of all patients suffering from psoriasis develop nail changes. WHO also predicts that psoriasis affects about 100 million people with prevalence rates ranging from 0.09% to 11.43% in different countries. Plaque psoriasis is the most common form of psoriasis affecting 90% of all cases of psoriasis.
Rise in screening and growing prevalence of psoriasis remains the most critical market driving factor of the global psoriasis treatment market. In general an upward trend is observed in several countries throughout the world. For example data from the national health and nutrition examination survey revealed that in United States prevalence of psoriasis increased from 1.62% to 3.10% from 2004 to 2010.
The other market driving factors for the global psoriasis treatment market is growing awareness, rise in risk factors such as autoimmune diseases, diabetes etc. and greater exposure to environmental factors such as chemicals, allergens etc. The market’s constraints include lack of effective and permanent treatment for the disorder. There is no cure for psoriasis and most treatment is either symptomatic or is temporary in nature. Other market restraints include high cost of drug development, patent expiry of a number of blockbuster drugs such as humira, enbrel and remicade etc, side effects associated with present medications such as hypertension, liver and kidney damage etc. The high cost of drugs coupled with their low efficacy and the advent of biosimilars also hampers the growth of the market.
The latest market trends include huge potential reflected by novel acting biologics such as TNF-α inhibitors, IL-17 inhibitors etc. The psoriasis treatment market also favors companies with a strong research pipeline. Thus novel drug development especially involving biologics will be the best strategy and will lead to fast growth of the market along with least marketing expenditure. Thus product development is the critical strategy to be a market leader of global psoriasis treatment market.
The global psoriasis treatment market was valued to be US$7.0 billion in 2016 and is expected to reach US$10.68 billion by 2022. Thus the market is expected to grow at a CAGR of 7.3% from 2016 to 2022.
Study Objectives Global Psoriasis Treatment market:
- To provide detail analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the global psoriasis treatment market.
- To provide insights about factors affecting the market growth.
- To analyze the market based on various analyses which includes price analysis, supply chain analysis, Porters Five Force analysis etc.
- To provide past and estimated future revenue of the market’s segments and sub-segments with respect to four main geographies and their countries including Americas, Europe, Asia-Pacific, and Middle East & Africa.
- To provide country level analysis of the market with respect to the current market size and future growth prospect.
- To provide country level analysis of the market for segments by mechanism of action (TNF inhibitors, phsophodiesterase inhibitors, interleukin blockers and others), by route of administration (oral, tropical and injectable) and by drug types (small molecules and biologics)
- To provide overview of key players and their strategic profiling in the market, comprehensively analyzing their core competencies and drawing a competitive landscape of the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments along with research and developments globally.
Key Players for Global Psoriasis Treatment Market
Some of the key players of this market are namely Novartis International AG, Johnson & Johnson, Pfizer Inc, Merck and Co. Inc, AbbVie and Amgen and Eli Lilly.
Segments
Global psoriasis treatment market has been segmented on the basis of mechanism of action, route of administration and by drug types.
Regional Analysis of Global Psoriasis Treatment Market
Globally North America is the largest market of global psoriasis treatment. Europe is the second largest market for global psoriasis treatment. However the developing market is Asia Pacific that will be the fastest growing region and will be the key to the future.
The report of global psoriasis treatment market by Market Research Future comprises extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size in terms of value & volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies followed by top key players in the industry. The report also gives a broad study of different markets segments and regions.
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Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Us:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
Phone: +1 646 845 9312
Email: sales@marketresearchfuture.com
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