The Psoriasis Drug Market Size was estimated at 28.24 (USD Billion) in 2022.The Psoriasis Drug Industry is expected to grow from 30.03(USD Billion) in 2023 to 52.1 (USD Billion) by 2032. The Psoriasis Drug Market CAGR (growth rate) is expected to be around 6.32% during the forecast period (2024 - 2032).
Key Psoriasis Drug Market Trends Highlighted
The rising prevalence of psoriasis, increasing awareness of effective treatments, and advancements in drug development are key drivers of the psoriasis drug market. Continuous improvements in treatment options, including the emergence of novel therapies such as biologics and targeted therapies, have expanded the therapeutic arsenal.Opportunities for growth in the market lie in the development of personalized medicine approaches, focusing on tailoring treatments to individual patient needs. Additionally, there is scope for innovation in combination therapies, leveraging synergies between different mechanisms of action to improve treatment efficacy and reduce side effects. Collaboration between pharmaceutical companies, academic institutions, and patient advocacy groups is fostering research and development efforts.Recent trends in the psoriasis drug market include a shift towards more targeted and effective therapies, with a focus on reducing systemic exposure and improving patient outcomes. Additionally, there is a growing interest in non-invasive and patient-centric approaches, such as self-injectable biologics and topical formulations, to enhance patient convenience and adherence to treatment regimens. These trends are shaping the future direction of the psoriasis drug market, highlighting the importance of continued investment in research and innovation to address unmet medical needs and improve patient care.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Psoriasis Drug Market Drivers
Rising Prevalence of Psoriasis
Psoriasis, an inflammatory skin disease, has become increasingly common among millions of people worldwide. Although the frequency of this disease has grown in recent years, this trend is expected to continue in future years. Due to several reasons, including a greater understanding of the disease, better diagnosis and treatment options and the increased prevalence of people with chronic conditions, the prevalence of psoriasis is on the rise. A growing number of patients being diagnosed with psoriasis is one of the key factors boosting the development of the psoriasis drugs market.
Growing Demand for Biologic Drugs
Biologic drugs are medications applied for the treatment of psoriasis. It has been proved that they work by targeting specific proteins in the immune system involved in the development of psoriasis. Recently, biologic drugs have gained wide popularity as they are highly efficient for treating the disease. The growth of the psoriasis drug market is mainly driven by the rising interest in biologic drugs. That is to say, as more patients are inclined to use such drugs, the demand for them increases.
Increasing Research and Development
There is a significant amount of research and development (R) being conducted in the field of psoriasis. This R is focused on developing new and more effective treatments for psoriasis. The increasing R in this field is a major driver of the growth of the psoriasis drug market. As new and more effective treatments are developed, the demand for these treatments will increase.
Psoriasis Drug Market Segment Insights
Psoriasis Drug Market Medication Type Insights
The psoriasis drugs market, according to the medication type, is classified into topical treatment, systemic therapies and biologics. Topical treatment, which typically involves the use of ointments, creams, and lotions applied directly to the skin, is considered the major contributor, generating more than 45% of the revenue as of 2023. They are known for treating the area, relatively safe and well-tolerated. Nonetheless, efficacy may be questionable for severe psoriasis. Systemic therapies usually consist of pills or injections that treat moderate or severe psoriasis.They work by suppressing the overactive immune system and reducing inflammation. In recent years, systemic therapies have demonstrated significant growth and are expected to continue due to the gradual and constant development of new and more efficient methods. Biologics are a relatively new therapy for treating psoriasis. These drugs are derived from living sources and are generally much more efficient in treatment. Biologics act on specific immune system proteins. The biologics type of the market is forecasted to be the fastest-growing, with an increasing number of available, newer drugs.The psoriasis drugs market is an extremely competitive one, with a number of major pharmaceutical giants investing heavily and competing in the acquisition and development of better drugs. The largest major players are AbbVie, Novartis, Eli Lilly and Co., and Johnson Johnson. The dropIndexPsoriasis market is expected to be extremely competitive in the coming years. AbbVie, Novartis, J, and Eli Lily are some of the major players in the market. The companies are continuously investing in acquiring other, smaller companies or developing new drugs on their own.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Psoriasis Drug Market Route of Administration Insights
The Psoriasis Drug Market is segmented by Route of Administration into Topical, Oral and Injectable. In 2023, a topical segment of the market dominated the market and is expected to dominate in the forecast period as well. The topical segment holds an approximately 55% value share of the market. The usage of topical formulations has the least side effects, like oral administration, but it is easy to use because of the availability of creams, ointments, and gel formulations. The Oral segment is expected to be the fastest-growing segment in the forecast period.The usage of oral therapies for moderate-to-severe psoriasis is growing to systemically treat the condition and offer better control of symptoms and long-term benefits. The Injectable segment is expected to grow at a medium pace, mainly because the approvals of new injectable biologics for the treatment of psoriasis are increasing.
Psoriasis Drug Market Disease Severity Insights
The Psoriasis Drug Market is segmented into mild to moderate, moderate to severe, and severe disease severity. The severe segment held the largest market share in 2023, accounting for over 40% of the Psoriasis Drug Market revenue. The moderate to severe segment is expected to grow at the highest CAGR during the forecast period due to the increasing prevalence of moderate to severe psoriasis and the availability of new and effective treatments. The mild to moderate segment is expected to grow at a steady pace due to the increasing awareness of psoriasis and the availability of over-the-counter treatments.
Psoriasis Drug Market Regional Insights
The Psoriasis Drug Market is segmented into North America, Europe, APAC, South America and MEA. North America dominates the market with a revenue of USD 12.4 billion in 2023 and is expected to reach USD 20.7 billion by 2032, growing at a CAGR of 6.5%. Europe is the second-largest market, with a revenue of USD 9.8 billion in 2023 and is expected to reach USD 16.3 billion by 2032, growing at a CAGR of 6.7%. APAC is the fastest-growing region, with a revenue of USD 6.2 billion in 2023 and is expected to reach USD 11.4 billion by 2032, growing at a CAGR of 7.5%.South America and MEA are expected to grow at a CAGR of 6.0% and 5.8%, respectively, over the forecast period. The growth in the regional markets is attributed to the increasing prevalence of psoriasis, rising disposable income, and growing awareness of advanced treatment options.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Psoriasis Drug Market Key Players And Competitive Insights
The Psoriasis Drug Market competitive environment is one of the most flexible and dynamic, having numerous players, both well-established and emerging, competing for the share of the market. Hence, current prominent companies in the Psoriasis Drug Market include AbbVie, Novartis, Eli Lilly and Company, Janssen Pharmaceuticals and Celgene Corporation, among others. The market for Psoriasis Drugs is becoming increasingly competitive as leading companies focus on the development of innovative and effective drugs to meet the growing needs of the patient population. Leading companies also spend an ever-growing amount of time and resources on research and development to ensure access to a wider selection of medication and collaborate in various ways to enhance the industry, as it enables companies to pool resources to address the existing unmet needs in the health sector. Moreover, mergers and acquisitions are an excellent way for pharmaceutical companies to increase their presence in certain segments or geographic locations or strengthen their positions in the market, specifically, in this case, Psoriasis Drug Market.AbbVie is one of the leaders in the Psoriasis Drug Market. The company is one of the globally known biopharmaceutical companies with a focus on developing potentially promising and viable solutions to treat different diseases, including psoriasis. Humira is known to be a highly effective medication to treat Psoriasis, and it has become one of the most commonly used drugs for moderate to severe psoriasis. In addition, Humira has a positive effect on joints, which is particularly significant as psoriatic arthritis remains one of the most challenging forms of the disease to treat. AbbVie has also made commendable progress in immunology and successfully brought new solutions, recently launching Skyrizi, which is a next-generation biologic medication for patients with psoriasis with high efficacy. As far as Janssen Pharmaceuticals, a subsidiary of Johnson Johnson, is concerned, the company has also made a great contribution to the development of the Psoriasis Drug Market. Being active since the mid-2000s and currently offers a range of psoriasis medications such as Stelara, an average Psoriasis medication, and Tremfya, one of the clearly visible next-generation medications with even higher efficacy as they are more target-oriented in comparison to their predecessors. In addition, Janssen Pharmaceuticals also made great progress in researching the issue of psoriasis, discovering promising molecules with high efficacy and good safety profiles of several such molecules. Further, Janssen Pharmaceuticals has excellent access to the commercial market, and its patient- and operator-centered approach has ensured a positive position in the Psoriasis Drug Market.
Key Companies in the Psoriasis Drug Market Include
Novartis
AbbVie
Celgene
Sanofi
Amgen
AstraZeneca
Eli Lilly and Company
Johnson Johnson
Sun Pharmaceutical Industries
Merck Co.
LEO Pharma
Pfizer
GlaxoSmithKline
Mylan
BristolMyers Squibb
Psoriasis Drug Market Industry Developments
The psoriasis drug market is projected to reach USD 52.1 billion by 2032, exhibiting a CAGR of 6.32% during the forecast period (2024-2032). The rising prevalence of psoriasis, increasing awareness about treatment options, and the introduction of novel biologics and targeted therapies are key factors driving market growth. Recent news developments include the approval of new drugs, such as Amgen's Otezla and Eli Lilly's Taltz, which have shown promising results in clinical trials. In addition, there is ongoing research into gene therapies and personalized medicine approaches, which could further expand treatment options and improve patient outcomes.
Psoriasis Drug Market Segmentation Insights
Psoriasis Drug Market Medication Type Outlook
Topical Treatments
Systemic Therapies
Biologics
Psoriasis Drug Market Route of Administration Outlook
Topical
Oral
Injectable
Psoriasis Drug Market Disease Severity Outlook
Mild to Moderate
Moderate to Severe
Severe
Psoriasis Drug Market Regional Outlook
North America
Europe
South America
Asia Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2022 | 28.24(USD Billion) |
| Market Size 2023 | 30.03(USD Billion) |
| Market Size 2032 | 52.1(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 6.32% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Novartis, AbbVie, Celgene, Sanofi, Amgen, AstraZeneca, Eli Lilly and Company, Johnson Johnson, Sun Pharmaceutical Industries, Merck Co., LEO Pharma, Pfizer, GlaxoSmithKline, Mylan, BristolMyers Squibb |
| Segments Covered | Medication Type, Route of Administration, Disease Severity, Regional |
| Key Market Opportunities | Targeted therapies Biosimilars Combination therapies Topical therapies Digital health solutions |
| Key Market Dynamics | Increasing incidence of psoriasis Growing adoption of biologics Advancements in gene therapy Government initiatives for psoriasis awareness Rising demand for personalized medicine |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The psoriasis drug market was valued at 30.03 billion USD in 2023 and is projected to reach 52.1 billion USD by 2032, exhibiting a CAGR of 6.32% during the forecast period.
The market is segmented based on drug class, route of administration, and region. By drug class, the market is segmented into biologics, small molecules, and topical therapies. By route of administration, the market is segmented into oral, injectable, and topical. By region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The increasing prevalence of psoriasis, raising awareness about the disease and treatment options, and the development of new and effective drugs are the key factors driving the growth of the psoriasis drug market.
The high cost of biologics, the side effects associated with some drugs, and the lack of access to treatment in developing countries are the major challenges faced by the psoriasis drug market.
Some of the key players in the psoriasis drug market include AbbVie, Amgen, Celgene, Eli Lilly, Janssen, Merck, Novartis, Pfizer and Sanofi.
The increasing adoption of biologics, the development of biosimilars, and the focus on personalized medicine are the major trends in the psoriasis drug market.
The psoriasis drug market is expected to continue to grow in the future, driven by the increasing prevalence of psoriasis and the development of new and effective drugs.
North America is the largest market for psoriasis drugs, followed by Europe and Asia-Pacific. The market in Asia-Pacific is expected to grow at the highest rate during the forecast period.
There is a need for more effective and affordable drugs for psoriasis, as well as drugs that can target the underlying causes of the disease.
The increasing prevalence of psoriasis and the development of new and effective drugs represent potential opportunities for growth in the psoriasis drug market.
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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