Psoriasis Therapeutics Market Product Overview, Development Prospect and Future Scenario 2019-2028
Psoriasis is a non-contagious autoimmune skin disease characterized by red scaly patches forming on the affected area. This condition causes skin cells to grow fast and cause rapid buildup of thick scaly patches on the surface of skin. Moreover, skin cells cycle is disturbed, due to which new cells under the skin grow and surface quickly to form itchy patches known as “plaques”. Symptoms worsen during winter season, and sufferers can experience allergic reactions to medicines, infections or even psychological stress. Diagnosis of psoriasis is typically based on signs and symptoms. Patches can form on the scalp, neck, anywhere on the feet and hands, especially on knees, palms, and elbows. Psoriasis occurs mostly in adults; however, it can also be seen in children and adolescents. Generally, it was thought to be a genetic disease triggered by pollution. Etiology of this disease is unknown; however, it is said that overactivity of the immune system can cause widespread inflammation, thereby resulting in flaking of skin and forming red, white or silvery patches.
Rising prevalence of psoriasis patients, growing unmet needs in terms of availability of appropriate medicines, and launch of novel pipeline drugs in future are factors driving growth of the global psoriasis therapeutics market. In addition, government initiatives for research and development (R&D) of the disease and cures, and favorable reimbursement policies will further fuel growth of this market over the forecast period. However, unknown etiology of this disease is the major factor hampering growth of the market.
Currently, the market in North America dominates the global psoriasis therapeutics market in revenue terms owing to higher psoriasis patient population pool, emergence of novel therapies, and favorable government reimbursement policies in countries in the region. Europe is currently the second-largest market due to increasing number of sufferers seeking treatment for the disease. The market in Asia Pacific is expected to witness relatively high growth over the forecast period owing to rising awareness regarding the disease and increasing government funding for R&D.
Among the route of administration segments, the topical segment accounts for largest revenue share owing to its effectiveness, safety, and efficient drug delivery method. In addition, the parenteral segment is expected to witness significant growth during the forecast period owing to rising preference given to newly approved biologics to treat severe psoriasis. Among the distribution channel segments, the hospital pharmacy segment plays accounts for major revenue share, followed by retail pharmacy and online sales.
Interleukin blockers segment is expected to be the most attractive segment among the other products segment, owing to its increasing usage and its ability to act on target proteins.
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Key players include Abbvie Inc., Amgen Inc., AstraZeneca plc, Bristol Myers Squibb Co., Celgene Corp., Eisai Co. Ltd., Eli Lilly and Co., GlaxoSmithKline plc, Incyte Corp., Isotechnika Inc., Janssen Biotech Inc., LEO Pharma A/S, Merck & Co. Inc., Novartis International AG, Pfizer Inc., and UCB S.A.
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