The Global Psoriasis Treatment Market Size is projected to grow at a CAGR of 8.7% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 24.67 Billion in 2024 and is expected to reach USD 48.09 Billion by the end of the forecast period.
The psoriasis treatment market is driven by increasing prevalence of psoriasis, advancements in biologic drugs, rising awareness about skin conditions, and growing healthcare expenditure. However, market growth is restrained by the high cost of biologic treatments, potential side effects of long-term drug use, stringent regulatory approvals, and limited access to advanced therapies in developing regions. Balancing innovation with affordability remains a key challenge in this market.
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202 – Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Novartis International AG, UCB, AstraZeneca, Celgene Corporation, Johnson & Johnson, Pfizer, Inc., Merck and Co. Inc,, AbbVie, Amgen, and Eli Lilly and Company. |
| SEGMENTS COVERED | Drug Class, Type, Route of Administration, Distribution Channel, and Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Psoriasis Treatment Market Overview
Progress in Biotherapeutics: The market for psoriasis treatments has changed dramatically since biologic medicines became available. Patients’ and healthcare professionals’ adoption of these tailored medicines is fueled by their increased efficacy and decreased adverse effects. This invention increases patient happiness and treatment outcomes, which drives market growth.
Psoriasis Incidence Is growing: The market for psoriasis treatments is greatly impacted by the rising prevalence of psoriasis worldwide. The need for efficient therapies grows as more people receive diagnoses. This upsurge propels market expansion and motivates pharmaceutical businesses to create novel solutions to address the expanding wants of patients.
Increasing Spending on Healthcare: Growing healthcare spending is supporting the market for psoriasis treatments, especially in developed areas. More money is being invested in cutting-edge therapy by public and private organizations, which is making psoriasis therapies more accessible. This funding stimulates ongoing R&D activities and quickens market expansion.
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Expensive Medical Expenses: The exorbitant prices of advanced psoriasis treatments, particularly biologics, create a major obstacle in the Psoriasis Treatment Market. These costs can hinder patients’ access to healthcare, especially in low-income areas, which in turn hampers market growth despite the presence of effective treatments.
Potential Adverse Reactions and Safety Considerations: Although biologic treatments and other advanced therapies in the Psoriasis Treatment Market are effective, it is important to consider the potential side effects and safety concerns associated with them. These challenges may discourage patients and doctors from embracing new solutions, which can limit the growth of the market and emphasize the importance of continuous safety assessments and enhancements.
Rigorous Regulatory Approvals: The strict regulatory approval process for new psoriasis treatments can hinder market expansion. Extensive testing and lengthy approval processes often result in the delayed release of ground breaking treatments. This limitation affects the rate at which patients can obtain innovative and potentially more efficient treatments.
Geographic Dominance:
North America has established itself as a dominant player in the Psoriasis Treatment Market, thanks to its significant investment in healthcare, access to advanced treatment options, and the presence of key market players. This market dominance fuels the growth of the industry by encouraging more investments in research and development, resulting in the development of innovative therapies and higher rates of treatment adoption. In addition, the presence of favorable reimbursement policies and increasing awareness play a significant role in the expansion of the market. These factors also have an impact on global trends and serve as benchmarks for emerging regions.
Psoriasis Treatment Market Key Players Shaping the Future
Major players, including Novartis International AG, UCB, AstraZeneca, Celgene Corporation, Johnson & Johnson, Pfizer, Inc., Merck and Co. Inc,, AbbVie, Amgen, and Eli Lilly and Company. and more, play a pivotal role in shaping the future of the Psoriasis Treatment Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.
Psoriasis Treatment Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Psoriasis Treatment Market into Drug Class, Type, Route of Administration, And Geography.
- Psoriasis Treatment Market, by Drug Class:
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- TNF Inhibitors
- Interleukins Inhibitors
- Psoriasis Treatment Market, by Type:
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- Plaque Psoriasis
- Psoriatic Arthritis
- Psoriasis Treatment Market, by Route of Administration:
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- Oral
- Parenteral/Systemic
- Topical
- Psoriasis Treatment Market, by Geography
- North America
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- U.S
- Canada
- Mexico
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- Europe
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- Germany
- France
- U.K
- Rest of Europe
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- Asia Pacific
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- China
- Japan
- India
- Rest of Asia Pacific
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- ROW
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- Middle East & Africa
- Latin America
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