Research Nester released a report titled “Psoriasis Drugs Market: Global Demand Analysis & Opportunity Outlook 2027″which delivers detailed overview of the global psoriasis drugs market in terms of market segmentation by drug class, by route of administration, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for psoriasis drugs is projected to grow at a CAGR of about 9.8% over the forecast period, i.e., 2019-2027. The market is segmented by drug class, by route of administration, by distribution channel and by region, out of which, the drug class segment is further segmented into corticosteroids, tumor necrosis factor (TNF) alpha inhibitors, PDE4 inhibitors, interleukin inhibitors and others. The TNF alpha inhibitor segment holds the largest share in the psoriasis drugs market, however, the interleukin inhibitors segment is anticipated to witness the highest growth rate during the forecast period as a result of higher demand for these drugs over the conventional TNF alpha inhibitors.
Based on region, the market in North America is predicted to hold the largest share in the psoriasis drugs market on account of the growing prevalence of psoriasis in the region. Moreover, the growing number of government initiatives in favor of the psoriasis drugs along with the presence of developed healthcare infrastructure are some other factors predicted to result in growth of the market over the forecast period.
Rising prevalence of Psoriasis to Drive the Market Growth
According to a 2016 report World Health Organization, psoriasis can occur at any age, however, according to some studies, psoriasis begins to form at the age of 33 years. Other studies indicate that the disease occurs before the age of 46 years. Furthermore, the report indicated that the prevalence of psoriasis in various countries varies between 0.09% and 11.4%, while the prevalence in developed countries varies between 1.5% and 5%.
The rising incidences of psoriasis along with the growing awareness about the condition among people belonging to various countries is estimated to be a major driving factor for the market growth. However, the high cost of psoriasis drugs and the side-effects associated with it, including high blood pressure, liver damage and kidney damage, are estimated to hamper the market growth during this period.
This report also provides the existing competitive scenario of some of the key players of the global psoriasis drugs market which includes company profiling:
Pfizer Inc. , Novartis AG (swx:NOVN), GlaxoSmithKline plc. (lon:GSK), Johnson & Johnson Services, Inc., Amgen Inc. , Celgene Corporation, AbbVie Inc., Eli Lilly and Company, AstraZeneca (lon:AZN) and Biocon (nse:BIOCON).