North America Psoriasis Treatment Market

North America Psoriasis Treatment Market

Growth Factors of North America Psoriasis Treatment Market

The North America psoriasis treatment market size was reached at a value of USD 19.03 billion in 2023, and the market is now projected to rise from USD 20.32 billion in 2024 to USD 42.59 billion by 2032, exhibiting a CAGR of 9.7% during the forecast period of 2023-2032.

Due to the covid pandemic many companies shut down their prediction units and projects due to hindered travel acquisitions which ultimately created a decline in the market growth. Lack of staff and decline in orthopedic surgeries led the market growth reduction as the covid virus patients were prioritized over the surgeries. Due to the covid pandemic many companies shut down their prediction units and projects due to hindered travel acquisitions which ultimately created a decline in the North America psoriasis treatment market growth. Lack of staff and decline in psoriasis treatment led the market growth reduction as the covid virus patients were prioritized over the surgeries. Therefore, operational procedures, orthopedic surgeries were put on hold due to covid pandemic which led a decline in North America psoriasis treatment market growth.

One of the major trends raising the psoriasis prevalence in North America in order to facilitate North America psoriasis treatment market growth is availability of more efficient and secure treatment alternatives are required to address this sickness. The consumers are getting aware about their health and need of early disease diagnosis to seek better treatment which is fuelling market growth. These are some noteworthy developments that are driving the market's growth. As a result, it is anticipated that the market would witness high growth during the forecast period due to the rising prevalence of psoriasis and the demand for efficient medications.

Introduction of novel technologies to treat different psoriasis types will augment the market growth up to projected period. The market is witnessing a huge number of noteworthy developments recently that are generating an impact on development of psoriasis treatments. Additionally, the development of strong drug pipelines and the launch of new medications are the outcomes of the growing demand for sophisticated biologics that target psoriasis. Several operating companies are also conducting clinical trials linked to the development of innovative medicines for psoriasis. According to estimates, these industry participant initiatives to address the need for psoriasis treatment will accelerate the growth of the North American psoriasis treatment market throughout the course of the projected period.

Comprehensive Analysis of North America Psoriasis Treatment Market

The North America psoriasis treatment market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed geographical assessment considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by drug class, by type, by route of administration, and by distribution channel. The types of drug class include, TNF Inhibitors, Interleukins, and Others, by type segmentation includes Plaque Psoriasis, Psoriatic Arthritis, and Others, by route of administration, Oral, Parenteral/Systemic, and Topical {Branded and Generics}. However, the distributions channel segmentation includes Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies.

The U.S. region lead the North America psoriasis treatment market by benefitting a market size of USD 17.53 billion in 2023 owing to rising incidence of psoriasis in North America and adoption of advanced medical technologies and Introduction of new biologics to treat different kinds of psoriasis.

The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. Prominent industry participants that propelled the market's growth comprise Novartis AG (Switzerland), Johnson & Johnson Services, Inc. (U.S.), Eli Lilly and Company (U.S.), Pfizer, Inc. (U.S.), AbbVie, Inc. (U.S.), LEO Pharma A/S (Denmark), Amgen Inc. (U.S.), and Evelo Biosciences, Inc. (U.S.). These market players offer a fair and competitive landscape globally.

In July 2023, AbbVie, Inc. a study unveiled that their medication, named as SKYRIZI (risankizumab) proved to be more promising outcomes than one of another key players Apremilast in the treatment of plaque psoriasis which led the market to expand significantly.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Unit Value (USD billion)

Growth Rate CAGR of 9.7% from 2024-2032

Segmentation By Drug Class

- TNF Inhibitors

- Interleukins

- Others

By Type

- Plaque Psoriasis

- Psoriatic Arthritis

- Others

By Route Of Administration

- Oral

- Parenteral/Systemic

- Topical

- Branded

- Generics

By Distribution Channel

- Hospital Pharmacies

- Retail Pharmacies

- Online Pharmacies

By Country

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

- U.S. (By Type)

- Canada (By Type)


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