The Global Psoriasis Drugs Market is expected to reach USD 10.8 billion by 2021 from USD 7.6 billion in 2016, growing at a CAGR of 7.30 % during the forecast period 2016-2021.
Hyderabad, India -- (SBWIRE) -- 03/19/2018 -- The report "Psoriasis Drugs Market by Drug Type (Pharmaceuticals and Biopharmaceuticals), by Route of Administration (Topical and Systemic), by Target (Tumour Necrosis Factor, Phosphodiesterase Type 4, Interleukin, and Others), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)" says, The Psoriasis Drugs market is expected to reach USD 10.8 Billion by 2021 from an estimated USD 7.6 Billion in 2016, at a CAGR of 7.3%.
Psoriasis is a skin condition that is estimated to have infected 125 Million of the world population which can be triggered by environmental factors, food habits and Genetic factors. The various types of psoriasis are vulgaris, guttate, inverse, pustular, palmoplantar, erythrodermic, nail, and scalp psoriasis. Psoriasis makes the skin dry, itchy and flaky.
The major factors that are fuelling the market growth are raising prevalence of Psoriasis, Increased R&D Activities, the discovery of more efficient medicine and increasing demand for extensive treatment.
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The Global Psoriasis Drugs Market is categorised according to Drug Type, Route of Administration, and Target. By Drug Type, the market is divided into Pharmaceuticals and Biopharmaceuticals. On the basis of Route of Administration, the market is further classified into Topical and Systemic (Oral, Intravenous, and Others)
By Target, the TNF Inhibitors segment commanded the major market share in 2016
On the basis of Target of the drugs, Tumour Necrosis Factor (TNF), Phosphodiesterase Type 4 (PDE4), Interleukin, and Others. TNF Inhibitors segment accounted for the major market share in 2016 owing to easy access for medical practitioners. Interleukin-Inhibitors segment is expected to grow steadily throughout the forecast period due to the increased efficiency of IL Drugs.
North America dominated the market in 2017
North America accounted for a share of 4 Billion leading the Psoriasis Drugs market in 2016. The Major reason for North America's dominance is the presence of key manufacturers and growing demand for the Psoriasis Medicine. Asia-Pacific is expected to witness a major growth rate primarily focussed in Japan during the forecast period.
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Some of the significant manufacturers of Psoriasis Drugs Market are Johnson & Johnson, Novartis International AG, Pfizer Inc, Merck and Co. Inc, Celgene Corporation, Janssen Biotech Inc, Stiefel Laboratories Inc, Takeda Pharmaceutical Company Limited, Amgen, and AbbVie.
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