"Designing Growth Strategies is in our DNA"

Psoriasis Treatment Market Size, Share & Industry Analysis, By Drug Class (TNF Inhibitors, Interleukins Inhibitors, and Others), By Type (Plaque Psoriasis, Psoriatic Arthritis, and Others), By Product Type (Biologics and Non-Biologics), By Route of Administration (Oral, Parenteral/Systemic, and Topical), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2024-2032

Last Updated: June 05, 2024 | Format: PDF | Report ID: FBI100600

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global psoriasis treatment market size was valued at USD 25.52 billion in 2023. The market is projected to grow from USD 27.20 billion in 2024 to USD 57.68 billion by 2032, exhibiting a CAGR of 9.9% during the forecast period.


Psoriasis is an autoimmune inflammatory disorder resulting from the overproduction of skin cells, resulting in an itchy and painful skin condition characterized by inflammation, red lesions, and plaque formation. The disease is categorized into two major types - plaque psoriasis and Psoriatic Arthritis (PsA). According to a study published by Scotland’s National Health Information Service (NHS inform), between 30%-40% of patients suffering from psoriasis develop an inflammation of the joints, known as psoriatic arthritis.


The rising prevalence of plaque psoriasis, such as mild to moderate plaque psoriasis and moderate plaque psoriasis, along with other types of psoriasis across the globe, is one of the major factors raising the demand for psoriasis treatment. According to the National Psoriasis Foundation (NPF) 2023 statistics, an estimated 2%-3% (125 million) of the total population worldwide are suffering from psoriasis. Moreover, in order to cater to the target population, such as treating adults with active psoriatic arthritis, manufacturers are continuously investing in developing various biologics and non-biologic drugs. Additionally, favorable reimbursement policies for treating patients with psoriasis, launches of biosimilars, and others are some of the factors contributing to the global psoriasis treatment market growth.


The COVID-19 pandemic positively impacted the market, leading to a higher growth rate in 2020. This significant growth was due to increased revenues of key players, higher demand for psoriasis treatment, increasing investments in research & development of new drugs, and other factors.


Additionally, several medical research studies demonstrated a link between COVID-19 and this disorder, as many patients were experiencing symptoms indicative of psoriasis. During the COVID-19 pandemic, telemedicine services significantly increased the demand for psoriasis treatments, even when hospital visits were restricted. These services facilitated the management of psoriasis, showing higher success rates than regular care. The forecast period anticipates cutting-edge innovations in various types of psoriasis therapies, including biologics, which are anticipated to drive strong and steady growth in the market.


Psoriasis Treatment Market Trends


Rising Emphasis on Developing Biologics for Managing Psoriasis


Patients suffering from psoriasis are seeking effective ways to manage the condition. Earlier topicals and systemic drugs were the standard treatment for the condition. However, the introduction of biologics for the treatment of psoriasis has revolutionized the management of this disease. Biologics target specific checkpoints in the inflammatory pathways and provide high efficiency with minimal side effects. Due to the benefits associated with biologics, many manufacturers have shifted their focus toward the development of biologics. Additionally, government and regulatory bodies are providing a conducive environment for developing and launching new biologics for treating psoriasis.



  • For instance, in October 2023, UCB S.A. received approval from the U.S. Food and Drug Administration (U.S. FDA) for its drug, BIMZELX, an IL-17A and IL-17F inhibitor for treating adult patients suffering from moderate-to-severe plaque psoriasis.


Request a Free sample to learn more about this report.


Psoriasis Treatment Market Growth Factors


Growing Prevalence of Psoriasis to Boost Treatment Demand


The growing prevalence of psoriasis across the globe is one of the predominant factors creating a massive demand for safe and effective treatments for the disease. According to the National Psoriasis Foundation data published in 2023, more than eight million individuals living in the U.S. have psoriasis. Furthermore, the government, along with companies operating in the market, are launching various awareness programs in order to educate patients about the improvement of psoriasis management. In addition, the launches of new drugs in the market to accelerate psoriasis treatment are anticipated to bolster the market growth in the upcoming years.



  • In June 2023, the American Academy of Dermatology, in collaboration with Boehringer Ingelheim International GmbH, launched a project to develop educational resources with an aim to improve the evaluation, diagnosis, and treatment of patients suffering from Generalized Pustular Psoriasis (GPP).


Market Players' Emphasis on Strategic Collaborations and Mergers to Augment Market Expansion


Biologics or biological therapy is one of the most sought-after psoriasis treatment options. Several large-scale companies have identified the introduction of new products as an ideal opportunity for market growth. Additionally, market players are focusing on entering strategic collaborations and mergers, which have yielded several innovative products. For instance, in September 2022, Boehringer Ingelheim International GmbH received U.S. FDA clearance for its drug, SPEVIGO, an interleukin-36 receptor inhibitor. The drug was developed to treat adult patients suffering from Generalized Pustular Psoriasis (GPP).


RESTRAINING FACTORS


High Medication Costs to Restrict Market Growth in Emerging Countries


Psoriasis is a lifelong disease and can incur considerable expenses. According to the economic analysis of psoriasis treatment, the proportion of medication costs for this ailment accounts for approximately 20% of the total costs. According to the NPF, it was estimated that one in three people with the condition had trouble paying for the cost of treatment, and a tube of topical medications would cost between USD 500 to USD 600. Additionally, as per a 2021 article published in the National Center for Biotechnology Information (NCBI), the out-of-pocket cost of biologics could range from around USD 4,423 to USD 6,950 per year. Thus, despite the growing prevalence of psoriasis and other related disorders, high medication costs and the lack of favorable reimbursement policies in developing nations are a few factors restricting the market growth during the forecast period.


Psoriasis Treatment Market Segmentation Analysis


By Drug Class Analysis


Interleukin Inhibitors to Gain Traction Due to Increasing Number of Clinical Trials


Based on drug class, the market is segmented into TNF inhibitors, interleukin inhibitors, and others. The interleukin inhibitors segment is expected to register the highest CAGR due to the growing prevalence of research trials conducted worldwide, aiming to assess the effectiveness of these drugs in treating a particular disease.



  • In November 2022, ACELYRIN, INC. commenced a phase 2/3 clinical trial to study the safety and efficacy of Izokibep, an IL17A protein inhibitor, in patients suffering from psoriatic arthritis. The study is expected to be completed by 2024.


The TNF inhibitors segment dominated the market share in 2023. However, the segment is expected to lose market share to some extent in the upcoming years owing to the decline in the prices of branded products due to the loss of exclusivity of these products and the entry of biosimilar versions, along with the growing prescription volume for interleukin inhibitors drugs.



  • For instance, in December 2021, Coherus BioSciences, Inc. received U.S. FDA approval for YUSIMRY, a biosimilar of Humira developed for the treatment of plaque psoriasis, psoriatic arthritis, and other types.


To know how our report can help streamline your business, Speak to Analyst


By Type Analysis


Plaque Psoriasis Segment Dominated Driven by Increased Awareness Programs


Based on type, the market is categorized into plaque psoriasis, psoriatic arthritis, and others. The plaque psoriasis segment held the lion’s share. Plaque psoriasis is the most common type of psoriasis, accounting for 80%-90% of all psoriasis cases. To cater to the rising target population, key players, in collaboration with governments, are raising awareness programs to improve the adoption of these drugs. Furthermore, the market players are raising funds to develop and launch effective medications for plaque psoriasis in the market.



  • For instance, in September 2022, Nimbus Therapeutics raised USD 125.0 million for its lead drug candidate, TYK2, indicated for treating plaque psoriasis. The company aimed to advance its lead drug into late-phase clinical testing.


On the other hand, psoriatic arthritis is anticipated to witness the highest CAGR during the forecast period. Rising focus toward research and development initiatives aiming for launching new drugs for treating psoriatic arthritis. Additionally, the rising burden of the target population along with government funding grants promoting the discovery of new and effective treatments for the condition, are a few factors contributing to the segment growth.



  • In March 2022, the National Institutes of Health (NIH) granted USD 58.5 million for five years to various institutions under the Autoimmune and Immune-Mediated Diseases (AMP AIM) program. The program is divided into four disease teams: psoriatic arthritis, rheumatoid arthritis, and others.


By Product Type Analysis


Biologics Segment Dominated due to Strong Presence and Adoption of Biologic Drugs 


On the basis of product type, the market is segmented into biologics and non-biologics. The biologics segment dominated the global psoriasis treatment market share in 2023 and is projected to continue its market dominance during the forecast period. The dominance of the biologics segment is due to the presence of a number of products within this category and their robust adoption trends. Furthermore, biologics offer key benefits attributed to the treatment of psoriasis, including improved patient outcomes, shorter treatment times, greater effectiveness, and the premise of a more targeted treatment. Some of the examples of biologics for psoriasis include secukinumab, etanercept, tildrakizumab, golimumab, and others.


The non-biologics segment is anticipated to grow at a significant CAGR during the forecast period. Some of the examples of non-biologic drugs include corticosteroids, methotrexate, and others.


By Route of Administration Analysis


Parenteral/Systemic Segment to Gain Traction Due to Rising Adoption of Biologics


On the basis of the route of administration, the market is segmented into oral, parenteral/systemic, and topical. The parenteral/systematic segment held the lion’s share in 2023. The dominance of the segment is attributed to the increasing adoption of biologics, which are primarily delivered through the parenteral route of administration. Furthermore, the launch of parenteral biologics for treating psoriatic arthritis, the high effectiveness of parenteral administration compared to other methods, and others are some factors supporting the market growth.



  • For instance, in October 2023, Novartis AG received the U.S. FDA approval for the intravenous formulation of the interleukin-17A antagonist Cosentyx for treating adults suffering from psoriatic arthritis, and other rheumatic diseases.


However, the oral segment is anticipated to witness lucrative growth in the forthcoming years. The rising approval of oral drugs and various advantages associated with the oral route of administration, such as safety, pain avoidance, good patient compliance, and ease of ingestion, are increasing the uptake of oral drugs among patients.


By Distribution Channel Analysis


Retail Pharmacies Dominated the Market Due to Increasing Number of Retail Pharmacies


Based on distribution channel, the market is categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment dominated the global market in 2023. The dominance of the segment is attributed to the increasing number of independent retail pharmacies with easy access to patients, especially in emerging nations. For instance, according to a press release published in January 2023, Reliance Retail announced the opening of 2,000 standalone pharmacies in India to expand its network.


On the other hand, the online pharmacies segment is anticipated to witness the fastest CAGR during the forecast period. The benefits offered by online pharmacies, such as patient convenience and the availability of attractive discounts & coupons on online sales, are a few factors shifting patient preference toward e-commerce platforms. Moreover, drug manufacturers collaborating with online pharmacies to improve access to psoriasis treatment drugs is augmenting the growth of the segment in the upcoming years.



  • For instance, in June 2023, Mark Cuban Cost Plus Drug Company, which launched its online pharmacy in 2022, collaborated with Coherus BioSciences, Inc. to offer its customers YUSIMRY (adalimumab-aqvh), a HUMIRA biosimilar.


REGIONAL INSIGHTS


In terms of geography, the market for psoriasis treatment is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.


North America Psoriasis Treatment Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


North America market size was valued at USD 19.03 billion in 2023. The region is projected to witness significant growth prospects in the forecast period. The rising burden of psoriasis in the region and increasing initiatives to raise awareness among the general population are anticipated to boost the demand for effective treatment options for managing the condition. Furthermore, the higher adoption of advanced treatment therapies, increasing research & development spending by key players in the region on clinical trials for psoriasis treatment, and increasing long-term & preventive healthcare facilities are also contributing to the regional growth. Rising initiatives by the government to reform healthcare facilities in order to offer greater accessibility to medical care among the population are fueling market growth during the forecast period.



  • For instance, in August 2023, the Centers for Medicare and Medicaid Services (CMS) announced the list of the first ten drugs for inclusion into Medicare price negotiation under the act known as the Inflation Reduction Act. The list includes some psoriasis management drugs such as Enbrel and Stelara.


Europe was the second-largest market and is expected to register a significant CAGR during the forecast period. The increasing prevalence of the disorder across European countries has strongly surged the demand for therapeutic drugs, thereby propelling the regional market growth. For instance, data released by the National Institute for Health and Care Excellence (NICE) indicated that the prevalence of the condition was approximately 1.3% to 2.2% within the general population in the U.K.


Asia Pacific psoriasis treatment market is anticipated to record the highest growth rate due to the rising number of government initiatives to raise awareness among the population regarding the complications of prolonged psoriasis. Furthermore, the governments promoting the manufacturers for clinical research & studies to develop and launch new drugs for psoriasis is expected to bolster the market growth.



  • In May 2023, Sareum Holdings PLC received approval from the Therapeutic Goods Administration, Australia, to commence phase I clinical trial of its drug SDC-1801 intended for treating patients suffering from psoriasis.


The Latin America and the Middle East & Africa are expected to register a significant CAGR owing to the shifting focus of market players toward expanding their operating network in untapped regions. For instance, the World Health Organization (WHO) data stated that the estimated age-standardized prevalence of psoriasis in Latin American countries ranged from 1.27% to 1.56


List of Key Companies in Psoriasis Treatment Market


Diverse Product Portfolio by Johnson & Johnson Services, Inc. and Abbvie Inc. to Contribute to their Leading Positions


The market’s competitive landscape is highly consolidated, with key industry players holding a major share of the global market. Dominant players include Johnson & Johnson Services, Inc. and AbbVie Inc., among others. The dominance of these players is primarily attributed to their strong distribution networks across the globe. Moreover, the manufacturers' initiatives to develop drugs targeting all types of psoriasis also contributed to the dominance of the key players. For instance, in January 2024, Johnson & Johnson Services, Inc. announced the results from its phase III clinical trial, VISIBLE, where Tremfya significantly cleared scalp psoriasis and improved scalp itch among patients.


Key players such as Novartis AG and Eli Lilly and Company have also entered the market competition with innovative biologic products. The introduction of novel psoriasis treatment products and substantial investments in developing new biologics are major strategies adopted by manufacturers in the market. For instance, in December 2021, Novartis AG announced that it had obtained U.S. FDA approval for Cosentyx to treat psoriatic arthritis in children and adolescents. Other significant market players include Pfizer Inc., Merck & Co., Inc., LEO Pharma A/S, Sun Pharmaceutical Industries Ltd., Evelo Biosciences, Inc., and Eli Lilly & Company.


LIST OF KEY COMPANIES PROFILED:



  • AbbVie Inc. (U.S.)

  • Novartis AG (Switzerland)

  • Johnson & Johnson Services, Inc.(U.S.)

  • Pfizer Inc. (U.S.)

  • LEO Pharma A/S (Denmark)

  • Merck & Co., Inc. (U.S.)

  • Amgen Inc. (U.S.)

  • Eli Lilly and Company (U.S.)

  • Evelo Biosciences, Inc. (U.S.)

  • UCB S.A. (Belgium)

  • Sun Pharmaceutical Industries Ltd. (India)


KEY INDUSTRY DEVELOPMENTS:



  • October 2023 – Arcutis Biotherapeutics, Inc., a biopharmaceutical company received the U.S. FDA approval for the Supplemental New Drug Application (sNDA) to expand indication of Zoryve cream for tropically treating plaque psoriasis, comprising intertriginous areas, to children ages 6 to 11 years.

  • March 2023 – Bristol Myers Squibb received approval from the European Commission for Sotyktu to treat adult patients suffering from moderate-to-severe plaque psoriasis.

  • September 2022 – Bristol Myers Squibb received the FDA approval for Sotyktu, an oral, allosteric tyrosine kinase 2-inhibitor for treating adults suffering from moderate-to-severe plaque psoriasis.

  • July 2022 – Health Canada accepted the New Drug Submission review for Roflumilast cream developed by Arcutis Biotherapeutics, Inc. to treat plaque psoriasis in adults and adolescents.

  • January 2022 – UCB S.A. received market authorization for its drug Bimzelx from the Japanese Ministry of Health, Labor, and Welfare (MHLW) to treat plaque psoriasis, psoriatic erythroderma, and pustular psoriasis.


REPORT COVERAGE


An Infographic Representation of Psoriasis Treatment Market

To get information on various segments, share your queries with us



The psoriasis treatment market research report provides a detailed analysis of the market and focuses on key aspects, such as leading companies, drug class, type, and route of administration. Besides, market analysis it offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market in recent years.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation

























































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 9.9% from 2024-2032



Unit



Value (USD Billion)



Segmentation



By Drug Class



  • TNF Inhibitors

  • Interleukins Inhibitors

  • Others



By Type



  • Plaque Psoriasis

  • Psoriatic Arthritis

  • Others



By Product Type



  • Biologics

  • Non-Biologics



By Route of Administration



  • Oral

  • Parenteral/Systemic

  • Topical



By Distribution Channel



  • Hospital Pharmacies

  • Retail Pharmacies

  • Online Pharmacies



By Region



  • North America (By Drug Class, Type, Product Type, Route of Administration, Distribution Channel, and Country)

    • U.S. (By Type)

    • Canada (By Type)



  • Europe (By Drug Class, Type, Product Type, Route of Administration, Distribution Channel, and Country/Sub-region)

    • U.K. (By Type)

    • Germany (By Type)

    • France (By Type)

    • Italy (By Type)

    • Spain (By Type)

    • Scandinavia (By Type)

    • Rest of Europe (By Type)



  • Asia Pacific (By Drug Class, Type, Product Type, Route of Administration, Distribution Channel, and Country/Sub-region)

    • Japan (By Type)

    • China (By Type)

    • India (By Type)

    • Australia & New Zealand (By Type)

    • Rest of Asia Pacific (By Type)



  • Latin America (By Drug Class, Type, Product Type, Route of Administration, Distribution Channel, and Country/Sub-region)

    • Brazil (By Type)

    • Mexico (By Type)

    • Rest of Latin America (By Type)



  • Middle East & Africa (By Drug Class, Type, Product Type, Route of Administration, Distribution Channel, and Country/Sub-region)

    • GCC (By Type)

    • South Africa (By Type)

    • Rest of the Middle East & Africa (By Type)








Frequently Asked Questions

Fortune Business Insights says that the global market stood at USD 25.52 billion in 2023 and is projected to reach USD 57.68 billion by 2032.

In 2024, the market value is estimated to reach USD 27.20 billion.

The market will record a CAGR of 9.9% during the forecast period of 2024-2032.

The rise in the number of moderate-to-severe plaque psoriasis in adults around the globe, growing strategic collaborations and mergers among key players, and high demand for safe and effective therapies for treatment are some of the factors expected to drive the market during the forecast period.

By drug class, the TNF inhibitors segment led the market.

North America is anticipated to hold the largest share of the market during the forecast period.

AbbVie Inc., Novartis AG, Johnson & Johnson Services, Inc., and Pfizer Inc. are the leading players in the global market.

By type, the plaque psoriasis segment dominated segment in the market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 166

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X