The growth in this market is also supported by factors such as increasing availability of diagnostic procedures, lifestyle changes and endeavors by the drug manufactures to meet the unmet needs.
Pune, India -- (SBWIRE) -- 02/01/2018 -- A new research report published by Infinium Global Research identified that the global Psoriasis Therapeutics market is set to grow on the backdrop of rising population of psoriasis population and more promising drugs in pipeline. The growth in this market is also supported by factors such as increasing availability of diagnostic procedures, lifestyle changes and endeavors by the drug manufactures to meet the unmet needs. The global market size of Psoriasis Therapeutics was USD 6.74 billion in 2016 and it is projected to reach to USD 12.97 billion in 2023 growing at a CAGR of 9.7% between 2017 and 2023.
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Americas region led the global Psoriasis Therapeutics market, which is attributable to the growing prevalence of the psoriasis in the U.S. and Canada and presence of large companies operating in this market in the region. Moreover, high level of awareness among the people about the use of Psoriasis Therapeutics in the U.S. is a primary driver promoting the growth in this region. Asia-Pacific region is expected to grow at the highest rate over the next six years owing to rapid lifestyle changes among the consumers in India, and China. Moreover, growing healthcare expenditure among the population in the Asia Pacific region is likely to act a major driver in the region.
Biologics dominate the global market for psoriasis diagnostics
According to the report the global market for psoriasis diagnostics is dominated by biologics as a choice for treatment. Enbrel, Humira, and Remicade are among the approved biologic drugs presently used in the treatment of psoriasis. Moreover, several biologic drugs in the pipeline are likely to escalate the demand for biologics for the purpose of treatment of psoriasis over the forecast period. In addition, the raising awareness about psoriasis among the patients is likely to augment the market size psoriasis diagnostics in the years to come.
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The report segments the global Psoriasis Therapeutics market as:
Global Psoriasis Therapeutics Market by Molecule 2017 - 2023
Global Psoriasis Therapeutics Market by Route of Administration 2017 - 2023
Global Psoriasis Therapeutics Market by Dosage forms 2017 - 2023
Global Psoriasis Therapeutics Market by Mechanism of Action 2017 - 2023
Companies profiled in the report
Johnson & Johnson
Eli Lilly and Company
Other companies in this market