09 Apr 2020
Psoriasis Drug Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2018-2024".Increasing healthcare expenditure, improvement in Psoriasis Research and Development expenditure and rising demand for newer Psoriasis medicines are major key factor which drives the Global Psoriasis Drug Market.
Psoriasis is a genetically programmed inflammatory disease caused by an overactive immune system. It causes the rapid buildup of skin cells. This buildup of cells causes scaling on the skin’s surface.It typically affects the outside of the elbows, knees or scalp, though it can appear on any location. The symptoms of Psoriasis are red patches of skin covered with thick, silvery scales, Dry & cracked skin, Thickened or pitted or ridged nails and small scaling spots. There are 7 types of Psoriasis such as Plague Psoriasis, Guttate Psoriasis, Pushtular Psoriasis, Inverse Psoriasis, erythrodermic Psoriasis and Psoriasis in children. Psoriasis is diagnosed by Physical Examination and Medical History; also Skin Biopsy is carried out. Psoriasis treatments decrease inflammation and clear the skin. Treatments are divided into three main types such as topical treatments, light therapy and systemic medications. A combination Therapy is newer treatment that is used is to combine two types of systemic drugs i.e., a traditional drug and a biologic. Biologics usually take a time to work. Combining a biologic with a faster-acting systemic drug, such as cyclosporine, is usually more effective and safe. Many doctors are prescribing combination therapies due to faster, longer-lasting results &fewer side effects, requiring lower doses, which is likely to boost Global Psoriasis Drugs Market.
Global Psoriasis Drug Market is segmented on the basis of Product, Therapy, Distribution Channel and Geography. On the Basis ofProduct, Global Psoriasis Drug Marketis classified as TNF Inhibitors, Interleukin Blockers, Vitamin D Analogues or Combinations and Others. On the basis of TherapyGlobal Psoriasis Drug Marketis classified into Topical Therapeutic Drugs, Systemic Therapeutic Drugs, Combinations Therapy andothers. On the basis of Distribution channel Global Psoriasis Drug Market is classified into Hospital Pharmacy, Drug Stores, Online Pharmacy and Others.
The regions covered in Global Psoriasis Drug Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, Global Melanoma Drug Market sub divided in to U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Psoriasis Drug Market Reports –
Global Psoriasis Drug Market reports cover prominent players likeEli Lilly, Pfizer Inc., Janssen Biotech Inc., Celgene Corporation, Glenmark Pharmaceuticals Limited, Takeda Pharmaceutical Company Limited, Stiefel Laboratories Inc. (GlaxoSmithKline plc)., Novartis AG, Amgen Inc., Biogen Idec, Johnson & Johnson, AstraZeneca, Boehringer Ingelheim, Sun Pharmaceuticals Industries Ltd., Valeant Pharmaceuticals International, Inc., Biocon Limited, Cipla Ltd., Rowan Bioceuticals Private Limited, LEO Pharma, G & W Laboratories Inc., Win Medicare Pvt. Ltd., Merck and Co. Inc., Abbvie Inc. and others.
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Global Psoriasis Drug Market Dynamics –
Growing geriatric population and prevalence of psoriasis is the most importantdriving factor of the Global Psoriasis Drug Market. The other market driving factors for the global psoriasis treatment market is growing awareness, rise in risk factors such as autoimmune diseases, diabetes etc. and greater exposure to environmental factors such as chemicals, allergens etc. As aging population increases the risk of Psoriasis and demand for Psoriasis pharmacotherapy is increases. The market will introduce the blockbuster drugs such as Vicodin and Simponi, apart from those other medications are also present in the pipeline.
The market’s constraints include lack of effective and permanent treatment and low level of awareness as to the benefits of Psoriatic pharmacotherapy has also been inhibiting growth. There is no cure for Psoriasis and most treatments are either symptomatic or temporary in nature. Other market restraints include high cost of newly launched biologics i.e., Rs 300000- Rs 600000 per annum and patent expiry of a number of blockbuster drugs such as humira, enbrel and remicade etc. Also side effects related with present medications such as hypertension, liver and kidney damage etc.
The recent market trends include vast potential reflected by novel acting biologics such as TNF inhibitors, IL-17 inhibitors etc. Therefore novel drug development especially involving biologics will be the best strategy and will lead to fast growth of the market along with less marketing expenditure. Thus product development is the critical strategy to be a market leader of Global Psoriasis Drug Market.
Global Psoriasis Drug Market Regional Analysis –
North America is having highest market share for Global Psoriasis Drug Market in the near future. The remarkable rise in the patient pool suffering from Psoriasis is likely to increase this regional market over the coming years. The existence of better drug manufacturers is expected to have positive impact on the North America market for Psoriasis treatment in the future.
Also Europe having a high position in the Global Psoriasis Drug market is likely to experience a decline in the demand Psoriasis treatment, following a powerful competition from biosimilars over the next few years. Latin America and Asia Pacific are projected to observe a significant growth in the Global Psoriasis Drug market over the next few years.Asia Pacific is expected to be the fastest-growing region owing to the large population and changing lifestyle habits such as smoking.Furthermore, increase in awareness through various government and NGO campaigns of disease and government initiatives for improving health care facilities are expected to boost the regional market to a certain extent.
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Key Benefits for Global Psoriasis Drug Market Reports –
- Global Psoriasis Drug Market report covers in depth historical and forecast analysis.
- Global Psoriasis Drug Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Global market sale (K Units), Global market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global Psoriasis Drug Market report helps to identify opportunities in market place.
- Global Psoriasis Drug Market report covers extensive analysis of emerging trends and competitive landscape.
Global Psoriasis Drug Market Segmentation –
By Product Analysis
TNF Inhibitors, Interleukin Blockers, Vitamin D Analogues or Combinations, Others
By Therapy Analysis
Topical Therapeutic Drugs, Systemic Therapeutic Drugs, Combinations Therapy, Others
By Distribution Analysis
Hospital Pharmacy, Drug Stores, Online Pharmacy, Others
North America (US., Canada), Europe (UK., France, Germany, Italy), Asia Pacific (China, Japan, India, Southeast Asia), Latin America (Brazil, Mexico), Middle East and Africa (GCC, Africa, Rest of Middle East and Africa)
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