The global psoriasis drug market is experiencing a period of unprecedented growth, fueled by a confluence of factors that point towards a bright future for this sector. According to a new study by Fact.MR, the market, valued at US$14.08 billion in 2024, is poised for significant expansion, projecting a compound annual growth rate (CAGR) of 6.9% from 2024 to 2034. This translates to a projected market value of US$27.57 billion by the end of 2034, a testament to the increasing demand for effective psoriasis treatments.
This surge in demand is directly linked to the rising prevalence of psoriasis worldwide. The condition, an immune system disorder affecting the skin, is becoming increasingly common, particularly in developed and rapidly developing nations. Lifestyle factors like smoking, excessive alcohol consumption, and exposure to cold temperatures significantly exacerbate the risk. Consequently, regions with higher prevalence rates and colder climates, like the United States, are seeing accelerated market growth, attracting considerable investment from pharmaceutical manufacturers. This creates both opportunity and a potential for market consolidation as larger players establish dominance.
The market’s growth is further propelled by strategic partnerships and mergers among industry giants. These collaborations lead to the development and launch of innovative therapies. A prime example is Amgen Inc.’s December 2021 FDA approval of Otezla for treating mild-to-moderate plaque psoriasis in adults, expanding their oral delivery product line and solidifying their position in the market. This emphasizes the importance of Research & Development (R&D) investment in driving market expansion.
Market Segmentation and Key Insights:
Fact.MR’s comprehensive study provides a granular analysis of the psoriasis drug market, segmented by product (topical, oral, injectable), drug class (interleukin inhibitors, corticosteroids, anti-inflammatory, tumor necrosis factor inhibitors), distribution channel (hospital pharmacies, retail pharmacies, e-commerce), and indication (guttate, inverse, pustular, erythroderma, plaque psoriasis), across six major global regions: North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa (MEA).
Some key takeaways from the Fact.MR report include:
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North American Dominance:
The North American market is expected to lead the way, expanding at a 7.8% CAGR through 2034.*
Injectable Drugs’ Share:
In 2024, injectable drugs are projected to hold a 24.8% market share.*
Latin American Growth:
Latin America is predicted to hold 10.4% of the global market share by 2034, with Brazil expanding at a 5.4% CAGR and Mexico reaching a market value of US$572 million.*
Corticosteroid Significance:
Corticosteroids, highly effective anti-inflammatory medications, are playing a crucial role, driving increased production and reinforcing market dominance for manufacturers.Leading Players and the Future of Psoriasis Treatment:
The success of the psoriasis drug market is largely driven by the innovative efforts of major players like Amgen Inc., Eli Lilly and Company, Novartis, Johnson & Johnson, AstraZeneca Plc, LEO Pharma A/S, Biogen Inc., Sun Pharmaceutical Industries, Pfizer Inc., Celgene Corporation, Boehringer Ingelheim, and Merck. Their investments in R&D and strategic partnerships contribute significantly to the development of new, more effective treatments, ensuring future market growth.
The rising prevalence of psoriasis, coupled with continuous innovation in drug development and market expansion into developing economies, paints a picture of a robust and rapidly growing psoriasis drug market. The outlook for the next decade is extremely positive, suggesting continued investment and growth opportunities for pharmaceutical companies operating within this sector.
