Psoriasis Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Psoriasis Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Psoriasis drug manufacturers set to benefit from the development of novel biologics, while high treatment costs and lack of awareness remain challenges.

The global psoriasis drugs market is projected to grow at a Compound Annual Growth Rate (CAGR) of 7% and reach a valuation of US$ 21.48 billion by 2031, according to a recent report. In 2024, worldwide sales of psoriasis drugs already amounted to approximately US$ 13 billion.

Key Opportunities for Psoriasis Drug Manufacturers

Novel Biologics to Carry Market Growth Forward

The treatment landscape for psoriasis has evolved significantly over the years, with various therapies available to manage the condition's symptoms. However, manufacturers are increasingly focusing on the development of novel biologics, such as tumor necrosis factor and interleukin, which offer the potential for long-term efficacy with minimal side effects. These advancements are expected to drive growth in the psoriasis drugs market as an alternative to conventional treatments.

Furthermore, the rising number of identified cases of psoriasis worldwide has spurred research and development efforts to create new treatment options. Strong product pipelines and increasing regulatory approvals for drugs like Stelara and Cimzia are contributing to the growth of psoriasis drug consumption in many regions.

Factors Restraining Demand for Psoriasis Drugs

High Cost of Psoriasis Treatment Impeding Market Expansion

One of the major factors hindering the demand for psoriasis drugs is the high cost associated with treatment. Patients often face substantial medical expenses related to psoriasis, and this cost is further exacerbated when comorbidities are present.

Additionally, the high expenses incurred during the development of novel biological drugs, including regulatory approvals and patent filings, can limit market growth. Lack of awareness about psoriasis and its associated comorbidities also hampers market expansion, leading to under-diagnosis and ineffective therapy.

Country-wise Insights

U.S. Psoriasis Drugs Market Leading Global Industry

The United States is the largest market for psoriasis drugs globally, dominating the North American region. It is expected to continue experiencing significant growth due to a high prevalence of psoriasis, increased adoption of prescribed dermatological products for psoriasis management, a well-established healthcare infrastructure, the presence of key psoriasis medication manufacturers, favorable government initiatives, and reimbursement policies.

U.K. Driving Europe Psoriasis Drugs Market Growth

In Europe, the United Kingdom (U.K.) is a lucrative market for psoriasis drugs, with a projected growth rate of 7.1% over the forecast period. This growth is driven by breakthrough therapies for plaque psoriasis treatment, growing public awareness, increased research and development efforts for psoriasis treatment, and approvals for new drugs. For example, the University of Manchester and Salford Royal NHS Foundation Trust conducted studies on Bimekizumab, demonstrating its efficacy in treating moderate to severe psoriasis, which received approval for use in adults.

China – Emerging Market for Psoriasis Drugs

China is an emerging market to watch for manufacturers of psoriasis drugs. It holds a significant share in the Asia-Pacific, East Asia, and Japan (APEJ) psoriasis drugs market. China is expected to expand at a CAGR of 9.4% during the forecast period due to unmet clinical demands among patients, rising per capita income, increased awareness for early diagnosis, and improved access to high-quality therapy. The growth of the psoriasis treatment market in China is also attributed to key manufacturers establishing a presence in the country. For example, Novartis obtained approval in China for Cosentyx® (secukinumab) for treating moderate to severe plaque psoriasis, including in pediatric patients.

Impact of COVID-19 on the Market

The COVID-19 pandemic initially had a negative impact on psoriasis drug sales, as patients were advised to suspend or reschedule immunosuppressant medications. However, researchers later provided guidelines for patient care and psoriasis treatment during the pandemic, contributing to the steady growth of the market.

Competitive Analysis

Leading psoriasis drug manufacturers are focused on launching new products and promoting their brands to gain a larger market share. Marketing strategies, approvals, and product launches are critical components of their growth strategies. These companies are also working on developing value chains for major regional markets and creating new psoriasis drugs and long-term solutions.

Key Companies Profiled
• Janssen Biotech, Inc.
• Novartis International Ltd.
• Amgen Inc.
• Pfizer Inc.
• Takeda Pharmaceutical Company Ltd.
• Merck & Co, Inc.
• AbbVie Inc.
• Eli Lilly and Company
• Boehringer Ingelheim GmbH
• Sun Pharmaceutical Industries Ltd.

Key Segments Covered in Psoriasis Drugs Industry Research

Psoriasis Drugs Market by Product:
• Topical Psoriasis Drugs
• Oral Psoriasis Drugs
• Injectable Psoriasis Drugs

Psoriasis Drugs Market by Drug Class:
• Interleukin Inhibitors
• Corticosteroids
• Anti-inflammatory
• Tumor Necrosis Factor Inhibitors

Psoriasis Drugs Market by Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• e-Commerce

Psoriasis Drugs Market by Indication:
• Guttate Psoriasis
• Inverse Psoriasis
• Pustular Psoriasis
• Erythrodermic Psoriasis
• Plaque Psoriasis

Psoriasis Drugs Market by Region:
• North America Psoriasis Drugs Market
• Latin America Psoriasis Drugs Market
• Europe Psoriasis Drugs Market
• South Asia Psoriasis Drugs Market
• East Asia Psoriasis Drugs Market
• Oceania Psoriasis Drugs Market
• Middle East and Africa (MEA) Psoriasis Drugs Market

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