Psoriasis Treatment Market Players Observe Rising Trend of Personalized Medicines, According to TMR Report

24 Jun 2022
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Rising cases of psoriasis globally are fueling the need for next-gen treatment option for the disease
The market is estimated to gain sizable sales avenues in North America due to presence of favorable reimbursement policies
ALBANY, N.Y., June 24, 2022 /PRNewswire/ -- The psoriasis treatment market outlook by Transparency Market Research (TMR) expects the global market to expand at a CAGR of 8.7% during the forecast period, 2022-2031.
The study provides exhaustive analysis of factors impacting the market growth including ongoing trends of the psoriasis treatment market. This aside, it sheds light on the psoriasis treatment market statistics, which include revenues, sales, volume, and shares of the market.
Among different drug class, players in the psoriasis treatment market are expected to observe continue growth in the demand for interleukin inhibitors during the forecast period. This growth is ascribed to factors such as advanced safety and effectiveness of drugs in this class for the psoriasis treatment. Increase in the adoption of this drug class is attributed to interleukin blockers, which are known as an effective option for individuals whose body doesn't show response to other treatment solutions, notes a TMR analysis on the global psoriasis treatment market.
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Psoriasis Treatment Market: Key Findings
The popularity of biologics is being increasing in the recent years owing to their ability to help in the treatment of psoriasis with moderate to severe levels, note analysts of a TMR study on the global psoriasis treatment market. Biologics are being increasingly adopted as they help in controlling the symptoms and providing improved skin clearance and quality of life to psoriasis patients. Hence, global market study on psoriasis treatment notes that the adoption of biologics is estimated to increase in the near future. Thus, the psoriasis treatment market revenue analysis by TMR expects the market to grow from US$ 18.8 Bn in 2021 and reach a valuation of more than US$ 44 Bn by 2031.
The demand for personalized medicines is being increasing in the recent years owing to the ability of this technique to offer promising patient outcomes. Considering this fact, companies operating in the global psoriasis treatment market are focusing on the development of biosimilars and next-gen modalities. Hence, they are seen investing heavily in R&Ds. This aside, the market players are increasing efforts to gain approval for next-gen biologic drugs intended for the treatment of psoriasis. Moreover, several leading companies are executing the strategies of acquisitions and collaborations in order to maintain their prominent positions in the global psoriasis treatment market.
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Psoriasis Treatment Market: Growth Boosters
Surge in the prevalence of psoriasis across the globe is bolstering the global market
Increase in the availability of next-gen treatment solution intended for psoriasis in emerging economies is propelling the psoriasis treatment market
Rise in the new product launches is likely to drive the market in the near future
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Psoriasis Treatment Market: Regional Analysis
The psoriasis treatment market in North America is expected to maintain its dominating positon during the forecast period owing to many factors such as the presence of favorable reimbursement policies and rising cases of psoriasis in the region
The Asia Pacific psoriasis treatment market is anticipated to expand at rapid pace during the forecast period owing to many factors including rise in understanding on psoriasis and available treatment solutions in several developing nations of the region
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Psoriasis Treatment Market: Key Players
Some of the key players profiled in the report are:
Eli Lilly and Company
Merck & Co., Inc.
Psoriasis Treatment Market Segmentation
Drug Class
Interleukin Inhibitors
Corticosteroids
Others
Oral
Topical
Distribution Channel
Hospital Pharmacies
Others
Regions Covered
North America
Latin America
Europe
Latin America
Middle East & Africa
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