Psoriasis Treatment Market to Attain Valuation USD 68.24 Bn by 2033

The global psoriasis treatment market size was evaluated at US$ 29.27 billion in 2023 and is expected to attain around US$ 68.24 billion by 2033, growing at a CAGR of 8% from 2024 to 2034. The psoriasis treatment market is growing because more than 125 million people worldwide are affected by psoriasis, and this number is increasing every year.

Psoriasis Treatment Market at a Glance

The psoriasis treatment market is growing rapidly because psoriasis treatments are designed to stop the rapid growth of the skin and eliminate the flakes. Its treatment includes creams and ointments (painting), phototherapy (light therapy), and oral or injectable medications. There are many new and effective treatments to manage mild psoriasis. More than 3% of American adults have psoriasis. That’s more than 7.5 million adults in the United States. Psoriasis is an autoimmune disease (a disease of unknown origin caused by inflammation of the immune system) that causes inflammation in the body.

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People with psoriasis may also develop other health problems. Up to one-third of people with psoriasis also have psoriatic arthritis. Plaque psoriasis is the most common type of psoriasis. About 80 to 90 percent of people with psoriasis have psoriasis plaques. Erythrodermic psoriasis is a severe form of psoriasis that affects a large area of skin (more than 90%). It causes different skin types and flaking of the skin. Psoriasis is an autoimmune disease that affects about 2 to 3 percent of the world’s population.

Psoriasis Treatment Market Report Scope

Major Types of Psoriasis

• Plaque Psoriasis
• Guttate Psoriasis
• Pustular Psoriasis
• Inverse Psoriasis
• Erythrodermic Psoriasis

Top Companies in the Psoriasis Treatment Market

• Johnson & Johnson Services, Inc. (U.S.)
• Pfizer Inc. (U.S.)
• AbbVie Inc. (U.S.)
• Novartis AG (Switzerland)
• LEO Pharma A/S (Denmark)
• Merck & Co., Inc. (U.S.)
• UCB S.A. (Belgium)
• Sun Pharmaceutical Industries Ltd. (India)
• Amgen Inc. (U.S.)
• Eli Lilly and Company (U.S.)
• Evelo Biosciences, Inc. (U.S.)

Regional Stance

In 2023, North America held the largest share of the psoriasis treatment market. Prevalence of psoriasis in the United States (measured as a percentage of the population in the psoriasis sample) Millions of people in the United States and surrounding areas have psoriasis and psoriatic arthritis, but there is currently no cure. More than 8 million people in the United States have psoriasis. The economic burden of psoriasis in the United States is significant because the disease causes physical, psychological, and social consequences.

• According to this study and 2020 U.S. Census data, the prevalence of psoriasis is equal to approximately 7,559,850 people aged 20 years and older with psoriasis. The rate of psoriasis was similar in women and men, 3.2% (95% CI, 2.6% to 3.8%) in women and 2.8% (95% CI, 2.4% to 3.3%) in men. Many organizations in the U.S. and around the world are important partners for researchers studying the epidemiology of psoriasis. The National Psoriasis Foundation is an American nonprofit patient advocacy organization dedicated to improving the lives of people with psoriasis and psoriatic arthritis through advocacy, education, and research.

Recent Breakthroughs in Psoriasis Treatment Market

· In September 2022, Bristol-Myers Squibb announced that the U.S. Food and Drug Administration (FDA) has approved Sotyktu (deucravacitinib), a first-in-class, oral, selective allosteric tyrosine kinase 2 (TYK2) inhibitor for the treatment of adults with mild to severe plaque psoriasis who are candidates for chemotherapy or phototherapy.

· In June 2023, Coherus BioSciences, Inc. (announced that it plans to launch YUSIMRY (adalimumab-aqvh) in July 2023 at a list price of $995 per box (2 x 40 mg/0.8 ml autoinjectors), the lowest reported price for adalimumab products in the United States to date. Humira is currently priced at $6,922 per box of two syringes, and YUSIMRY will be available at an approximately 85% discount off the original manufacturer’s price.

· In March 2024, Johnson & Johnson announced initial data from FRONTIER 2, a long-term extension of the Phase 2b FRONTIER 1 clinical trial evaluating JNJ-2113, the first and only investigational drug designed to block the IL-23 receptor site. IL-23 plays a key role in the activation of T cells in moderate to severe plaque psoriasis (PsO) and supports the inflammatory response in PsO and other dermatologic, rheumatic, etc. diseases.

Emerging Treatments for Psoriasis Management to Drive the Growth

Psoriasis is still multifaceted skin disease with physical and psychological effects, and despite progress in understanding its treatment and management, good outcomes remain elusive. The treatment of psoriasis should expand with the introduction of new drugs such as mirikizumab and IL-23 inhibitors such as RORγt inhibitors, which have the potential to increase efficacy and improve disease control. In addition, advances in cosmetic treatments, including microneedles and nanoparticle drug delivery, will revolutionize the treatment of psoriasis by improving the efficacy of psoriasis plaque therapy. The recent FDA approval in July 2022 of Zoryve, a steroid-free cream for the treatment of mild to severe plaque psoriasis, represents a significant advancement in the treatment, which can be used to cover many skin types. This development is expected to lead to an expansion of the psoriasis treatment market and signal growth and innovation in the sector.

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High Costs of Biologics to Limit the Growth

The psoriasis treatment market is having serious challenges due to the high cost of biologics. These biologic-derived treatments can cost more than $500,000 per patient per year. The high cost of biologics is attributed to their complexity, long development, and specialized administration. Unlike small molecule drugs, biologics are larger, more complex, and require research, development, and clinical trials; each cost up to $2.6 billion and takes up to a decade to complete. The specialized and intelligent equipment needed for research, development, and biologic testing adds to the high costs. These factors, combined, limit the widespread availability and accessibility of psoriasis treatments and pose a major challenge to psoriasis treatment market growth.

Emerging Trends to Open Doors for the Market

The field of psoriasis treatment market is set to grow, driven by many promising new developments. New biologics, such as interleukin-23 inhibitors (e.g. mirikizumab), are expected to be effective, while small molecule inhibitors, including RORγt and ROCK2 inhibitors, are expected to expand the treatment range. The potential of combination therapy combining biologic drugs with methotrexate is promising for improving clinical response. Advances in cosmetics using microneedles and nanoparticle carriers promise to improve drug delivery and improve clinical outcomes. Additionally, the use of biomarkers and multi-omics technology in personalized medicine can improve diagnosis, predict treatment response, and inform treatment decisions. Together, these innovations represent significant growth opportunities for the psoriasis treatment market.

Report Highlights

By Drug Class

On the basis of the drug, TNF inhibitors segment has shown the maximum growth and largest share in 2023. TNF inhibitors are medications that help reduce inflammation and are used to treat inflammatory diseases such as rheumatoid arthritis (RA) and psoriatic arthritis. Three TNFa antagonists are currently available to treat psoriasis: infliximab (Remicade), etanercept (Enbrel), and adalimumab (Humira). Although all three drugs block TNFa in the body, they differ in their structure and mechanism of action. Infliximab is a chimeric human/mouse monoclonal antibody that binds to soluble and membrane-bound TNFα and effectively neutralizes its activity.

By Type

The psoriatic arthritis is fastest growing segment in the psoriasis treatment market. Psoriatic arthritis is an inflammatory arthritis that occurs in approximately 20 percent of people with psoriasis and is closely related to psoriatic arthritis. This serious condition is characterized by severe pain and impairs quality of life. Meta-analysis of 28 studies estimated the global prevalence of psoriatic arthritis to be 133 people per 100,000 (95% confidence interval [CI], 107 to 164 cases per 100,000 people), with 83 cases per 100,000 people.

By Route of Administration

On the basis of administration, the parenteral route as recorded the highest share in the market as a result of its high level of convenience. Parenteral administration (subcutaneous, intravenous, intramuscular) is recommended when oral administration is not effective because absorption may vary from person to person or may be used to manage gastrointestinal disorders such as nausea and vomiting.

The oral route of administration has seen a secondary place in the market as a result of the rapid prescriptions. Acitretin is an oral (swallowed) retinoid approved by the U.S. Food and Drug Administration (FDA) for the treatment of severe psoriasis. It comes from vitamin A. The medications are whole-body medications for people with severe psoriasis and psoriatic arthritis. They are also used for people who do not respond to or cannot receive cosmetic or ultraviolet light treatments. Some treatments, such as methotrexate (MTX), an oral anticancer drug, are also disease-modifying antiretroviral drugs (DMARDs).

By Distribution Channel

On the basis of distribution channel, the retail pharmacies have dominated the segment. The strength of retail pharmacies is their variety of products and services. In addition to prescription drugs, they often offer over-the-counter medications, supplements, and surgical supplies. Retail stores play an important role in healthcare by providing easy access to medications, a variety of products, and additional services.

Online pharmacies segment is rapidly growing in forecast period. online pharmacy is the opposite of privacy and confidentiality. Switching to a more convenient online method is another way to prevent adverse events and minimize interactions with controlled substances. With the rise of e-pharmacies, it has become easier to buy medicines online, but security is important. If patients want to learn more about the medicine they are taking, e-pharmacies are the most reliable and up-to-date source of information.

Related Reports

· Psoriatic Arthritis Treatment Market: https://www.precedenceresearch.com/psoriatic-arthritis-treatment-market

· Tendonitis Treatment Market: https://www.precedenceresearch.com/tendonitis-treatment-market

· Bronchitis Treatment Market: https://www.precedenceresearch.com/bronchitis-treatment-market

Market Segmentation

• By Drug Class
  
  • Interleukins
  • TNF Inhibitors
  • Others
• By Treatment Type
  
  • Biologic Drugs
  • Small Molecule Systemic Drugs
  • Tropical Therapies
• By Type
  
  • Psoriatic Arthritis
  • Plaque Psoriasis
  • Others
• By Route of Administration
  
  • Oral
  • Parenteral
  • Topical
• By Distribution Channel
  
  • Hospital Pharmacies
  • Online pharmacies
  • Retail Pharmacies

By Geography

· North America

· Europe

· Asia Pacific

· Latin America

· Middle East & Africa (MEA)

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