Psoriasis Drugs Market Share, Growth, Sales Revenue and Key Drivers Analysis Research Report by 2027

Changing lifestyle, rising awareness about the condition, and advancements in genetic medicine have resulted in boosting the Psoriasis Drugs market.

NEW YORK, NEW YORK, UNITED STATES, September 21, 2021 /EINPresswire.com/ -- The global psoriasis drugs market is forecast to reach USD 39.00 Billion by 2027, according to a new report by Reports and Data. Psoriasis can be defined as a skin condition, which accelerates the life cycle of skin cells. It results in cells to develop on the surface. It is usually considered to be a chronic condition. The condition has an unpredictable course of symptoms, significant comorbidities, and various external triggers impacting the condition that includes metabolic syndrome, arthritis, and cardiovascular diseases, among others. The immune system is considered to play an integral role in the condition. The condition also affects nails apart from skin. When a particular area on the skin is affected by the disease, the skin lesion is usually localized, which are sharply demarcated by plaques and red papules that are covered by silver or white scales. These lesions are generally symmetrical and cause stinging, itching, and pain. Herein the main aim of the treatment is to prevent the skin cells from growing quickly. There is no cure to the disease; however, these drugs help in managing the symptoms.

In context to region, Europe can be seen to occupy a prominent market share. The market share held by the region is attributed to continuously developing healthcare sector, rising focus on management of not just the condition but comorbidities as well, which are supporting the market growth in this region.

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Key participants include

Amgen, Inc., AbbVie Inc., Novartis AG, Johnson & Johnson, AstraZeneca, Eli Lilly and Company, UCB, Celgene Corporation, Merck, and Sun Pharmaceutical Industries Ltd.

Technological advancements and rapid digitization have streamlined the daily operations of the pharmaceutical industry. Increasing spending on medicine due to growing geriatric populace, rising incidence of chronic diseases, increasing number of product launches, and growing number of R&D activities are some key factors contributing to revenue growth of the market. Increasing focus on patient engagement solutions, rising focus to cater to growing unmet clinical demand, adoption of advanced technologies to streamline workflows in healthcare sector, and availability of skilled healthcare professionals has been positively impacting the pharma & healthcare industry. The emergence of COVID-19 pandemic has further increased focus on healthcare facilities, teleconsultation and telemedicine, and increased burden on the healthcare industry compelling governments and companies to invest heavily to cater to the growing global demand.

Further key findings from the report suggest

• The Psoriasis Drugs market held a market share of USD 16.21 Billion in the year 2018 that is forecasted to grow at a rate of 9.6% during the forecast period.

• In context to Treatment Type, the Biologics segment generated the highest revenue of USD 6.32 Billion in the year 2018, with a growth rate of 9.9% during the forecast period. The ability of these drugs to treat the condition by targeting particular areas of the immune system thereby treating the condition form the base, results in its high acceptance among care providers that contributes to the revenue generated by this segment.

• In context to Therapeutic Class, the Interleukin Inhibitors segment is projected to witness the fastest growth rate of 10.3% during the forecast period, which is expected to occupy 27.5% of the market by 2027. The growth rate witnessed by the segment is attributed to the significant role it plays in the pathogenesis of plaque psoriasis, one of the most common form of psoriasis, which results in its elevated demand among care providers.

• In context to distribution channel, it is mentionable here that the E-commerce segment is projected to witness the fastest growth rate of 11.6% during the forecast period, which is expected to generate USD 7.80 Billion by 2027. The growth rate witnessed by the segment is resultant of continuous growth in the online medicine store and associated upsurge in online medicine shopping culture.

• In context to Application, the Plaque Psoriasis segment held the largest market share of 53.0% in 2018, with a CAGR of 9.7% during the forecast period. The high occurrence rate of the condition and associated increased demand for drugs and medications for treating the disease contributes to the market share occupied by this segment.

• In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 10.3% during the forecast, which is expected to hold 4% of the market by 2027. The growth rate witnessed by the region is resultant of rising awareness about the importance of early diagnosis of the condition and unmet healthcare needs of care users that are opening new avenues for the market in this region.

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For the purpose of this report, Reports and Data have segmented the global Psoriasis Drugs market according to Treatment Type, Therapeutic Class, Distribution Channel, Application, and Region:

Treatment Type Outlook (Revenue, USD Billion; 2016-2027)

• Topicals
• Systemic
• Biologics

Therapeutic Class Outlook (Revenue, USD Billion; 2016-2027)

• Tumor Necrosis Factor Inhibitor
• Interleukin Inhibitors
• Anti-Inflammatory
• Corticosteroids

Distribution Channel Outlook (Revenue, USD Billion; 2016-2027)

• Hospitals and Clinics
• E-commerce
• Retail Pharmacies

Application Outlook (Revenue, USD Billion; 2016-2027)

• Plaque Psoriasis
• Guttate Psoriasis
• Nail Psoriasis
• Erythrodermic Psoriasis
• Pustular Psoriasis
• Intertriginous psoriasis
• Others

Regional Outlook (Revenue, USD Billion; 2016-2027)

• North America
• Europe
• Asia Pacific
• MEA
• Latin America

In conclusion, the report offers a comprehensive analysis of the factors expected to drive the global Psoriasis Drugs market growth over the forecast period of 2021-2027. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report also offers strategic recommendations to the established players as well as new entrants to help them gain a strong foothold in the market.

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