Psoriasis Treatment Market Report Analysis 2020, Growing Demand, Industry Share, Growth, Regional Revenue, Top Company Profiles, CAGR Values, Size Estimation
Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Psoriasis is a common skin disease that accelerates life cycle of skin cells. It causes skin cells to build up rapidly on the surface of the skin. The extra skin cells developed form red patches and scales that are painful and itchy. Skin injury may cause psoriatic skin changes at that spot, a phenomenon called Koebner phenomenon. Psoriasis is a chronic disease that often comes and goes.
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There are five main types of psoriasis namely Plaque, Guttate, Inverse, Pustular, and Erythrodermic. Plaque psoriasis, also known as psoriasis vulgaris, is the most prevalent type of psoriasis, accounting for around 90% of reported cases. Body parts such as back of the forearms, shins, around the navel, and the scalp are the most commonly affected areas. Guttate psoriasis has drop-shaped lesions. Pustular psoriasis is characterized by the presence of small non-infectious pus-filled blisters. Inverse psoriasis forms red patches in skin folds. Erythrodermic psoriasis occurs when the rash become widespread and can develop from other types. Fingernails and toenails are affected in most people at some point of time. This may include pits in the nails or changes in nail color.
Market Dynamics- Drivers
Treatment options for Psoriasis fueling growth of the global psoriasis treatment market
Availability of several treatment options is expected to drive growth of the global psoriasis treatment market during the forecast period. These treatment methods include administering steroid, vitamin D3, exposure to ultraviolet B (UVB) light, and immunosuppressive like methotrexate. Around 75% of cases can be managed with creams alone. Cream and ointments of corticosteroid, and calcipotriol can effectively treat mild-to-moderate psoriasis. However, when condition become more severe, creams are combined with oral medications such as methotrexate, acitretin, and cyclosporin.
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Various topical drugs are used in treatment of psoriasis namely corticosteroids, vitamin D, hydroxyanthrone, and retinoid, which in turn, is expected to propel growth of the global psoriasis treatment market over the forecast period. Topical corticosteroids are frequently prescribed for treating mild-to-moderate psoriasis. Low-potency corticosteroid ointments are recommended for sensitive areas such as face or skin folds and for treating widespread patches of damaged skin. Medicated foams and scalp solutions are available in market to treat psoriasis patches on the scalp. Vitamin D analogues are synthetic forms of vitamin D and they slow the growth of skin cells. Calcipotriene (Dovonex) is a cream or solution a vitamin D that contains analogue, used by itself to treat mild-to-moderate psoriasis or in combination with other topical medications. Anthralin (Hydroxyanthrone) is used to normalize DNA activity in skin cells. Anthralin (Dritho-Scalp) also can remove scale, making the skin smoother. Topical retinoids normalizes DNA activity in skin cells and decreases inflammation.
Light Therapy (Phototherapy) for psoriasis treatment
This psoriasis treatment involves use of natural or artificial ultraviolet light. Phototherapy involves exposing skin to controlled amounts of natural sunlight. Other forms of light therapy include use of artificial ultraviolet A (UVA) or ultraviolet B (UVB) light either alone or in combination with medications.
Growing prevalence of psoriasis coupled with early diagnosis to propel growth of the global psoriasis treatment market
Among regions, North America is expected to witness significant growth in global psoriasis treatment market during the forecast period. This is owing to better medical facilities, commercialization of new diagnostic technology, medical policies, and favorable reimbursement policies are factors fueling growth of North America psoriasis treatment market. According to the International Federation of Psoriasis Associations (IFPA), around 3% of the world’s population has some form of psoriasis. According to a study published in Cleveland Clinic in September 2013, there are around 150,000 new cases of psoriasis reported each year in the U.S. According to a study published in Medical Journal of Malaysia, in 2015 prevalence of psoriasis varies between 2.0% to 3.0% worldwide. Incidence rate is highest among Caucasians and lowest among Japanese and Africans. The study states that prevalence rate of psoriasis in Japan is 0.05% to 0.1%, as compared to China 0.5% and Taiwan 0.2%, and in India, the prevalence of psoriasis was reported in the range of 0.4% to 2.8%. High prevalence and increasing incidence propels growth of the psoriasis treatment market.
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Key players operating in the global psoriasis market are Glenmark Pharmaceuticals Limited, Sun Pharmaceuticals Industries Ltd., Cipla Ltd., Johnson & Johnson, Rowan Bioceuticals Private Limited, Stiefel Laboratories Inc. (GlaxoSmithKline plc), Win Medicare Pvt. Ltd., and Novartis AG. Novartis AG acquired Ziarco Pharma Ltd— a U.K.-based dermatology therapeutics firm—in December 2016 to acquire a pipeline of oral and topical products for treatment of psoriasis. Acquisition of the potentially first-in-class therapy would bolster dermatology portfolio and pipeline of Novartis. Ziarco completed Phase II trial, a proof-of-concept study with ZPL-389.
- Key players in the market are involved in various business strategies such as product launches, in order to expand product portfolio and gain competitive edge in the market. For instance, in October 2017, Glenmark Pharmaceuticals launched ‘Apremilast’, an oral drug for psoriasis treatment in India.
- Key players in the market are involved in various business strategies such as product launches, in order to expand product portfolio and gain competitive edge in the market. For instance, in October 2018, Sun Pharmaceuticals Industries Ltd launched ‘Ilumya’, a plaque psoriasis treatment drug in the U.S. market.
- Key players in the market are involved in various business strategies such as collaboration and partnership, in order to gain competitive edge in the market. For instance, in July 2019, drug manufacturing company Cipla entered into partnership with Alvotech, a biopharmaceutical company to commercialize AVT02. AVT02 is an adalimumab biosimilar, which used for treatment of plaque psoriasis and rheumatoid arthritis.
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