Psoriasis Drug Market

Psoriasis Drug Market Outlook (2024 to 2034)

Worldwide sales of psoriasis drugs are expected to reach US$ 14.08 billion in 2024 and further increase at a CAGR of 6.9% to climb to US$ 27.57 billion by 2034-end.

The requirement for psoriasis drugs is increasing as the disease becomes more and more prevalent among people. Psoriasis is a chronic and long-lasting disease that attacks the immune system and makes it overactive, causing the skin cells to multiply too quickly.

Discomfort and pain experienced by those afflicted with this illness escalate, resulting in a growing need for medications to speed up their healing process. The cause of psoriasis is not understood fully yet quite a few drugs are available in the market that offer relief to people.

Key Market Growth Drivers

• According to the American Academy of Dermatology, around 2% of people living in the United States suffer from psoriasis.
• Suppliers in the market are recognizing this trend and actively establishing their presence in regions with high demand for such drugs.
• Psoriasis is among the diseases where a significant number of individuals inherit genes associated with its development. Given its genetic nature, suppliers can make accurate estimates of their future customer base, thereby increasing the profitability of psoriasis drug suppliers.
• Psoriasis is notably triggered by factors such as smoking, heavy alcohol consumption, and cold weather. Manufacturers are heavily investing to capitalize on this opportunity to enhance their profit margins.
• Typically, it takes one year or longer to achieve remission, but major players in the market are investing heavily in research and development to speed up and simplify treatment, potentially opening new avenues for suppliers and boosting psoriasis drug market growth.
• Consumers generally prefer purchasing drugs from retail pharmacies and hospitals, prompting drug suppliers to closely align with such healthcare facilities to enhance their sales. All of these factors thus contribute to market expansion.

Report Attributes	Details
Psoriasis Drug Market Size (2024E)	US$ 14.08 Billion
Forecasted Market Value (2034F)	US$ 27.57 Billion
Global Market Growth Rate (2024 to 2034)	6.9% CAGR
Canada Market Growth Rate (2024 to 2034)	8.2% CAGR
Brazil Market Value (2034F)	US$ 1.01 Billion
North America Market Share (2024E)	29.9%
Latin America Market Share (2034F)	10.4%
Key Companies Profiled	Amgen Inc. Eli Lilly and Company Novartis Johnson & Johnson AstraZeneca Plc LEO Pharma A/S Biogen Inc. Sun Pharmaceutical Industries Pfizer Inc. Celgene Corporation Boehringer Ingelheim Merck

Which Psoriasis Drug Market Trends Beneficial to Manufacturers?

“Focus on Use of Biologics for Effective Disease Management to Minimize Side Effects”

Recent links between psoriasis and arthritis, as well as mental health issues, have emerged as opportunistic platforms for manufacturers seeking to create innovative biologics with long-term effectiveness.

Treatment with new biologics, such as tumor necrosis factor and interleukin, is proposed to successfully control plaque psoriasis with few to no side effects and long-term benefits. Thus, research into the production of innovative biologics or biological pharmaceuticals has provided a resourceful approach to psoriasis management, and this feature is projected to aid the expansion of the psoriasis drug market as an alternative to traditional treatment approaches.

Increasing number of psoriasis patients worldwide has prompted manufacturing businesses to launch research and development initiatives to provide innovative psoriasis treatments. A strong product pipeline and rising regulatory approvals for drugs such as Stelara (Janssen Pharmaceuticals) and Cimzia (UCB S.A.) are helping boost the adoption of psoriasis treatment in many regions.

“Increasing Regulatory Approvals for New Treatment Options”

Biologics, also known as biological therapy, are among the most popular choices for treating psoriasis. Several multinational corporations have recognized the launch of new products as a prime opportunity for market expansion. Furthermore, industry participants are focusing on strategic alliances and mergers, leading to the development of various breakthrough products.

• For instance, in December 2021, Amgen Inc. received the United States FDA clearance for Otezla to treat mild to moderate plaque psoriasis in adults. These initiatives have enabled the company to expand its product portfolio for oral delivery.

What is Affecting the Profitability of Psoriasis Drug Suppliers?

“High Medical Expenses Associated with Psoriasis Treatment”

One of the key reasons limiting demand for psoriasis medications is the high medical expenses involved in treating psoriasis. A cohort study released in 2017 found that more than 8 million people in the United States had psoriasis. Comorbidities were associated with increased healthcare resource use and expenditures among psoriasis patients.

As manufacturers strive to produce innovative biological treatments, significant spending on drug development for regulatory approvals and the complex patent filing procedure are also impeding psoriasis drug market growth.

• According to the National Psoriasis Foundation, psoriasis-related costs in the United States might reach US$ 135 billion each year. Additionally, a lack of understanding regarding psoriasis and its accompanying comorbidities is a significant barrier to market expansion, resulting in underdiagnosis and inadequate treatment.

Country-wise Evaluation

Psoriasis has been prominently affecting people living in regions with cold weather including countries like the United States and Canada. The market in Canada is projected to expand at a CAGR of 8.2% from 2024 to 2034. Latin America accounts for a significant psoriasis drug market share, with the Chile market projected to expand at a CAGR of 5.8% from 2024 to 2034.

Why is the United States a Lucrative Market for Psoriasis Drug Manufacturers?

“Advanced Medical Infrastructure and Favorable Reimbursement Policies for Psoriasis Treatment”

Attribute	United States
Market Value (2024E)	US$ 3.52 Billion
Growth Rate (2024 to 2034)	7.7% CAGR
Projected Value (2034F)	US$ 7.41 Billion

High incidence of psoriasis and the increasing use of prescription dermatological treatments for psoriasis care are driving market growth. Moreover, the country's substantial market share may be attributed to its well-developed healthcare infrastructure, the presence of major psoriasis drug producers, and favorable government reimbursement regulations for psoriasis treatments.

What are the Opportunities for Psoriasis Drug Manufacturers in Brazil?

“Market Benefitting from Improved Access to Healthcare”

Attribute	Brazil
Market Value (2024E)	US$ 596 Million
Growth Rate (2024 to 2034)	5.4% CAGR
Projected Value (2034F)	US$ 1.01 Billion

Experts believe that psoriasis is caused by a combination of hereditary and environmental factors. People's lifestyles in industrialized and developing nations, including Brazil, have changed as their discretionary incomes have increased. Some causes of psoriasis include an unhealthy lifestyle, poor eating habits, and alcohol consumption. Smoking and a sedentary lifestyle are two factors that increase the risk of developing such diseases. Brazilians now have better access to healthcare, making them aware of both the treatment for the ailment and its causes.

Category-wise Insights

A variety of drug types are available in the market for psoriasis, including topical, oral, and injectable. Demand for oral psoriasis drugs is forecast to rise at a CAGR of 7.1% from 2024 to 2034. The hospital segment is projected to expand at a CAGR of 7.4% through 2034.

Which Drug Class Do Healthcare Providers Recommend for Psoriasis Treatment?

“Preference for Corticosteroids Due to Their Proven Effectiveness”

Attribute	Corticosteroids
Segment Value (2024E)	US$ 4.91 Billion
Growth Rate (2024 to 2034)	7.2% CAGR
Projected Value (2034F)	US$ 9.88 Billion

Corticosteroids, commonly referred to as steroids, are a type of anti-inflammatory drug typically used to treat rheumatological diseases such as psoriasis. These steroids have been proven to be highly effective and efficient, winning the hearts of consumers. Healthcare providers largely prefer this type of drug over others. Manufacturers in the psoriasis drug market have responded to this trend by increasing the production of corticosteroids, enhancing their dominance in the market.

Which Indication Accounts for a Significant Share of the Market?

“Focus of Healthcare Providers on Efficient Management of Guttate Psoriasis”

Attribute	Guttate Psoriasis
Segment Value (2024E)	US$ 400 Million
Growth Rate (2024 to 2034)	11.1% CAGR
Projected Value (2034F)	US$ 1.14 Billion

Psoriasis patients commonly experience various manifestations of the disease, including guttate psoriasis, inverse psoriasis, pustular psoriasis, and plaque psoriasis. Among these, guttate psoriasis holds particular significance, prompting drug suppliers to prioritize its treatment. Guttate psoriasis is characterized by as small, red, and scaly spots on the arms and legs, with its name derived from the Latin term "gutta," meaning drop. Suppliers are actively focusing on addressing this condition and researching methods to mitigate its effects.

Competitive Landscape

Key players in the psoriasis drug industry are working on developing new treatments and promoting existing brands to increase market share. To increase product penetration, psoriasis medicine makers are focusing on new marketing methods.

Companies continue to see clearance and product launches as essential components of their growth strategies. They are also focusing on constructing a value chain for a key regional market, as well as creating new psoriasis medications and long-term solutions, contributing to the evolving psoriasis drug market trends such as immune checkpoint inhibitors and injectable drug delivery.

• Amgen stated in February 2021 that it had submitted a supplementary New Drug Application (NDA) to the United States Food and Drug Administration (FDA) for Otezla® (apremilast) to treat people with mild-to-moderate plaque psoriasis.

Key Segments of Psoriasis Drug Market Research

• By Product Type :

  • Topical Psoriasis Drugs
  • Oral Psoriasis Drugs
  • Injectable Psoriasis Drugs

• By Drug Class :

  • Interleukin Inhibitors
  • Corticosteroids
  • Anti-inflammatory
  • Tumor Necrosis Factor Inhibitors

• By Distribution Channel :

  • Hospital Pharmacies
  • Retail Pharmacies
  • e-Commerce

• By Indication :

  • Guttate Psoriasis
  • Inverse Psoriasis
  • Pustular Psoriasis
  • Erythrodermic Psoriasis
  • Plaque Psoriasis

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa