Global Psoriasis Therapeutics Market to Reach $55.8 Billion by 2031: Says AMR
Allied Market Research
5 min read
Allied Market Research
Increase in the incidence of psoriasis along with skin disorders associated with it and rising awareness among people regarding different treatments available in the market drive the global psoriasis therapeutics industry. Based on type, the plaque psoriasis segment held the major share in 2021. By region, however, the market across Asia-Pacific would cite the fastest CAGR BY 2031.
Portland, OR, Oct. 23, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Psoriasis Therapeutics Market was estimated at $22.9 billion in 2021 and is expected to hit $55.8 billion by 2031, registering a CAGR of 9.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
Increase in the incidence of psoriasis along with skin disorders associated with it
Rising awareness among people regarding different treatments available in the market
Opportunities
Growth of the personal care & cosmetics industry
Restraints
Development of new biologics and novel pipeline drugs
Covid-19 scenario-
The outbreak of the pandemic gave way to postponement of non-emergency medical treatments, which impacted the global psoriasis therapeutics market negatively, especially during the initial period.
However, later on, scientists found no evidence that medical interventions to treat psoriasis and psoriatic arthritis should be interrupted or altered to minimize COVID-19 risks, which in turn helped the market recoup soon.
The global psoriasis therapeutics market is analyzed across drug class, type, route of administration, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on drug class, the interleukin inhibitors segment held nearly two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 10.0% throughout the forecast period.
Based on type, the plaque psoriasis segment held nearly three-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 9.4% throughout the forecast period.
Based on route of administration, the parenteral segment garnered nearly two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also project the fastest CAGR of 10.3% throughout the forecast period.
Based on region, the global psoriasis therapeutics market across North America generated more than two-fifths of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, however, would showcase the fastest CAGR of 12.0% throughout the forecast period. The other provinces analyzed through the report include Europe and LAMEA.
The key market players analyzed in the global psoriasis therapeutics market report include Bausch Health Companies Inc., Abbvie Inc., Johnson and Johnson, LEO Pharma, Amgen Inc., Novan Inc. (EPI Health LLC), Novartis AG, Pfizer Inc., Eli Lilly and Company, and Viatris Inc. (Mylan NV). These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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