Psoriasis is a complex, chronic, multifactorial, inflammatory disease that involves hyperproliferation of the keratinocytes in the epidermis, with an increase in the epidermal cell turnover rate. Currently, topical, systemic therapies, and phototherapy are available for treatment.
The Global Psoriasis Treatment Market is expected to grow at a rate of ~8.5% by 2026. Increasing psoriasis prevalence, rising psoriasis medicines demand in emerging economies, rising biologic drug approval for psoriasis treatment, increased psoriasis research activity, a strong drug pipeline, and rising use of combination therapies for psoriasis treatment are some of the key factors driving the global psoriasis treatment market.
Growing Adoption of New Biologics Drugs for the Treatment of Plaque Psoriasis Drives the Psoriasis Treatment Market
Biologics drugs launched a new era of psoriasis treatment. These drugs target a particular part of the immune system and are created from substances found in living things. Recently, several biological drugs have been approved by the FDA to treat plaque psoriasis.
In May 2022, Dermavant Sciences received US FDA approval for VTAMA (tapinarof) cream, 1%, an aryl hydrocarbon receptor agonist, indicated for the topical treatment of plaque psoriasis in adults.
Increase in Usage of Interleukins (IL) Inhibitors in Psoriasis Treatment Fuels the Demand
The preference for IL inhibitors over other classes of psoriasis drugs includes several factors such as improved safety and efficacy, more targeted mechanism of action, fewer warnings & side effects, faster onset of effect, and more durable responses. Recently, the FDA approved a number of drugs for treatment purposes.
In January 2022, AbbVie received US FDA approval for SKYRIZI® (risankizumab-rzaa) for the treatment of adults with active psoriatic arthritis (PsA).
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Growing Usage of Combination Therapies for Psoriasis Treatment Boost the Psoriasis Treatment Market
The most common method of treating psoriasis is combination therapy. It involves the combination of two drugs to achieve improved therapeutic results for patients who inadequately respond to a single drug. Moreover, combination therapy may reduce safety concerns and cumulative toxicity, as a lower dose of two single agents may offer a better safety and efficacy profile when used in combination. The wide range of combination therapies prescribed may reflect increased attention to individualization of treatment to match patients’ diverse preferences.
Key Constraints/ Challenges: Psoriasis Treatment Market
Psoriasis treatments can be expensive, life – long, and sometimes not covered by universal health coverage schemes. Some of the major factors that are anticipated to hamper the psoriasis treatments market in the upcoming years include a lack of standardized tools for diagnosis and treatment, stringent regulatory policies, and negative side effects associated to the existing medications.
North America Expected to Continue to Hold a Major Share in the Psoriasis Treatment Market
Geographically speaking, North America holds a major market share of the psoriasis treatment market. This can be mainly attributed to the expanding incidence of plaque psoriasis & psoriatic arthritis, the increasing prescription volume of biological products, and growing awareness regarding the diagnosis and treatment of psoriasis in the region.
Increasing Emphasis on Developing New Biological Products
Players operating in the psoriasis treatments market are adopting organic and inorganic growth strategies such as collaborations, acquisitions, and new product launches to garner market share.
In July 2022, Arcutis Biotherapeutics, Inc. received FDA approval for the new drug application (NDA) for ZORYVE (roflumilast) cream 0.3% for the treatment of plaque psoriasis, including intertriginous areas, in patients 12 years of age or older
In December 2021, AbbVie received FDA approval for RINVOQ® for the treatment of adults with active psoriatic arthritis (PsA)
Competitive Landscape Analysis of Psoriasis Treatment Market
Some of the key players operating in the global psoriasis treatment market include Eli Lilly & Company, Pfizer Inc., Novartis International AG, Amgen Inc., Biogen Inc., Abbvie Inc., AstraZeneca, among others.
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