The Global Psoriasis Treatment Market Continues To Grow Owing To the High Prevalence of Psoriasis in the World

 

Psoriasis Treatment Market

Psoriasis Treatment Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028.

Market Overview:

Psoriasis is a skin condition that causes scaly, red, itchy patches of skin. This rash can cause a lot of discomforts and can affect the lives of those who suffer from it. It is important to know the symptoms so that patients can get an accurate diagnosis and start treatment early. The disease affects children, teens, and adults. Psoriasis is caused by an overactive immune system that attacks the body. This overactive immune response leads to the growth of new skin cells on the surface of the skin. Once these skin cells grow, they can build up and form plaques, or thick scaly areas of the skin. In severe cases of psoriasis, the patches can become so inflamed that they are impossible to self-manage. Luckily, there are several ways to control and manage psoriasis.

Competitive Landscape:

Major players operating in the global psoriasis treatment market include Sun Pharmaceutical Industries Ltd., UCB S.A., Evelo Biosciences, Inc., Eli Lilly and Company, Amgen Inc., Merck & Co., Inc., LEO Pharma A/S, Pfizer Inc., Johnson & Johnson Services, Inc., Novartis AG, and AbbVie Inc.

Key Market Drivers:

The increasing incidence of psoriasis cases in the world is expected to augment the growth of the global psoriasis treatment market. For instance, according to the World Health Organization, there are around 100 million individuals in the world suffering from psoriasis. If patients have a mild case of psoriasis, they can usually control the symptoms with simple treatments. Topical treatments include topical creams and ointments. However, if psoriasis does not respond to these remedies, patients may be given a drug that makes the skin sensitive to ultraviolet light. The medications used for psoriasis can include antibiotics, retinoids, topical medications, and ultraviolet light therapy. Cyclosporine, a medication used for psoriasis, has the potential to cause kidney problems. Moreover, increasing advancements related to skin disorders are estimated to enhance the growth of the global psoriasis treatment market.

Covid-19 Impact Analysis:

During the COVID-19 pandemic, there have been several developments in the global psoriasis treatment market. For instance, in November 2021, the European Commission approved AbbVie Inc.'s SKYRIZI subcutaneous injection, which is used to treat active psoriatic arthritis.

Key Takeaways:

·         North America is expected to dominate the growth of the global psoriasis treatment market, owing to the high developments by key players in the region. For instance, in July 2020, the United States Food and Drug Administration gave approval for Johnson & Johnson Services, Inc.'s Stelara, which will be helpful in treating severe to moderate plaque psoriasis in children 6-11 years.

·         Europe is estimated to witness high growth in the global psoriasis treatment market, owing to the increasing prevalence of key players in the region. For instance, in September 2021, LEO Pharma A/S initiated a strategic technology partnership with Veeva Systems, in order to continue the significant clinical trials.