Psoriasis Treatment Market will rise to US$ 12.1 Billion by 2024

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Psoriasis Treatment Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2016 2024
The alarming rise in the number of psoriasis patients is having the most
prominent impact on the global market for psoriasis treatment. With the
increasing FDA approval for novel drugs and therapies for psoriasis treatment,
the market is likely to surge remarkably over the next few years. Apart from
this, the presence of a strong product pipeline and the growing awareness
regarding psoriasis and its treatment among people in emerging economies are
also projected to propel this market in the near future.
According to Transparency Market Research (TMR), the global market for
psoriasis treatment o ffered an opportunity worth US$7.8 bn in 2015.
Researchers estimate this market to rise at a CAGR of 5.10% between 2016
and 2024 and reach US$12.1 bn by 2024.
Browse Full Research Report on Antiviral Drugs Market:
TNF Inhibitors, interleukin blockers, and vitamin D analogues or combination
have emerged as the key products available in the worldwide market for
psoriasis treatment. Driven by superior efficiency and safety, TNF inhibitors
are reporting a higher demand than other products in this market. By 2024, the
segment is expected to remain on top with an estimated share of more than
47% in the overall market. However, the introduction of biosimilars may limit
this demand to some extent in the years to come.
Interleukin blockers, on the flip side, is projected to present a lucrative growth
opportunity to market players over the coming years due to their augmenting
usage and their ability to act selectively by targeting the proteins.
On the basis of geography, Latin America, North America, Europe, Middle
East and Africa, and Asia Pacific are considered as the prime regional market
for psoriasis treatment. North America has surfaced as the key contributor to
this market and is likely to retain this position in the near future. The
remarkable rise in the patient pool suffering from psoriasis is projected to boost
this regional market over the coming years. The presence of well-established
drugmakers is also expected to have positive influence on the North America
market for psoriasis treatment in the years to come.
Europe, although currently having a strong position in the ov erall market, is
likely to experience a decline in the demand psoriasis treatment, foll owing an
intense competition from biosi milars over the next few years. Latin America
and Asia Pacific, on the other hand, are anticipated to witness a significant rise
in their respective markets over the next few years. The increasing awareness
regarding psoriasis and its treatment among people in emerging economies,
such as China and India, through various government and NGO campaigns is
projected to stimulate the Asia Pacific market for psoriasis treatment
considerably in the near future.
Biogen, LEO Pharma A/S, AbbVie Inc., AstraZeneca, Pfizer Inc., Johnson &
Johnson, Merck & Co. Inc., Novartis AG, Eli Lilly & Co., and Amgen Inc. are
some of the prominent players in the global market for psoriasis treatment.
Browse Full Press Release on Antiviral Drugs Market:
Press Release
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