The global psoriasis drugs market is expected to be valued at $21.4 billion by 2022

LONDON, Nov. 28, 2017 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5214684



The global psoriasis drugs market is expected to be valued at $21.4 billion by 2022, as per a new report by Grand View Research, Inc.

The increasing number of reimbursement policies for treatment, advanced diagnostic tools, raised disease awareness and improved technological systems are likely to increase the adoption of therapeutics.

Additionally, the rising prevalence and incidence of psoriasis is anticipated to fuel the market growth. The condition has neither exact causes nor treatments to cure. Certain environmental and genetic factors may trigger the disease onset. Most treatments for the condition target to decelerate the severity of the disease by stopping the keratinocyte hyperproliferation. The disease symptoms can be managed by following a healthy lifestyle.

Further key findings from the report suggest:
• Tumor Necrosis Factor-inhibitors dominated the psoriasis therapeutic market in 2016 owing to its higher usage by healthcare practitioners and easy availability.
• TNF-inhibitors are likely to lose market shares over the forecast period due to increasing adoption of IL-inhibitor therapy over conventional TNF-inhibitors
• Interleukin-inhibitors sector is expected to grow at lucrative CAGR of 19.4% over the forecast period because of improved safety and efficacy profiles of Interleukin-inhibiting drugs.
• The U.S. market is the dominant region in the psoriasis therapeutic space. It led the market in terms of revenue with $4.4 billion in 2016 due to the increasing number of patients seeking treatment and presence of well-established healthcare services.
• In addition, presence of several key manufacturers in the U.S. and launch of novel drugs are some of the factors anticipated to increase the demand for therapeutics in this region
• Japan is expected to be the fastest growing region over the next decade with lucrative CAGR of 13.0% from 2016 to 2022 due to growing awareness about the disease among the people. Furthermore, presence of a large target population and high unmet clinical needs are some of the factors expected to propel the growth of this region.
• Some of the key players in this industry are AbbVie Inc., Amgen Inc., Johnson & Johnson, Novartis AG, Eli Lilly & Company, AstraZeneca and Celgene Corporation.
• Most of the key players are focusing on strategies such as expansion of their product portfolios and collaborations, mergers, & acquisitions. The emergence of biosimilars is a rising trend adopted by these companies.

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