Market overview:
According to the research reports by MRFR, the global psoriasis treatment market is likely to cross a market size of over USD 13.1 billion in 2027 while recording a healthy CAGR of over 7.3% during the review timeframe.
Psoriasis is a chronic inflammatory skin condition that frequently links with our systematic manifestation. The global psoriasis treatment market has witnessed massive growth over recent years owing to the factors such as various developments of advanced technologies, the green prevalence of psoriasis, increasing awareness for the treatment, and the growing research and development for the treatment. However, the market's growth is likely to be hampered by the high costs involved in the treatment. Nevertheless, the growing occurrence of this disease across the globe is likely to offer lucrative opportunities over the assessment timeframe.
Segment Analysis
The global psoriasis treatment market is bifurcated into several segments based on treatment, drug class, and region.
Based on the drug class, the global market for psoriasis treatment is divided into vitamin D analogs, interleukin inhibitors, and tumor necrosis factor inhibitors.
The global psoriasis treatment market is split into biologics, systematic, and topical based on the treatment.
Regional Analysis
The global psoriasis treatment market is studied across five major regions, including the Middle East & Africa, North America, South America, Europe, and Asia-Pacific.
As per the MRFR research reports, the North American region is likely to secure the top position in the psoriasis treatment market due to the rising number of global market trends of psoriasis treatment. Furthermore, the growth of the regional market is being driven by an increasing prevalence of psoriasis, the presence of major manufacturers, and growing awareness growth among people. As per the recent survey, approximately 8 million Americans have psoriasis.
In 2018, the European region secured the second position in the psoriasis treatment market across the globe. The regional market will likely record the fastest growth rate over the assessment timeframe. The regional market's growth is attributed to the prominent market players, the growing participation of major market leaders, and the growing senior population.
The Middle East & African regional free psoriasis samples treatment will record the slowest growth rate over the review timeframe. This is because of less awareness among the people in Africa and the low economic developments across the region.
Competitive Analysis
The global market for psoriasis treatment has an intensely competitive landscape with a wide number of players spread worldwide. The players in the market are adopting several new strategies such as product developments, mergers, acquisitions, and partnerships to strengthen their global market footprint. The list of prominent players in the psoriasis treatment market includes names such as Eli Lilly and Company, AbbVie (US), Pfizer Inc (US), Celgene Corporation (US), UCB (Belgium), Amgen (US), Merck and Co. Inc (US), Johnson & Johnson (US), AstraZeneca (UK), Novartis International AG (Switzerland), and many others.
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