The global Psoriasis Drugs market seems to reach USD 90.52 billion by 2028, at a CAGR of 12.31% from 2021 to 2028. The global psoriasis drugs market is driven by the rising prevalence of psoriasis, growing awareness about the disease, increasing demand for biological drugs, and the growing focus on research and development activities.
Psoriasis is a chronic autoimmune condition characterized by red and itchy scales on the skin. It is caused due to the abnormal growth of skin cells, which leads to the formation of thickened and scaly patches on the skin. Psoriasis is a long-term chronic skin condition that can affect both men and women of all ages.
The global psoriasis drugs market is segmented based on drug class, route of administration, distribution channel, and region. Based on drug class, the global psoriasis drugs market is segmented into biologics, small-molecule drugs, and topical drugs. The biologics segment is further sub-segmented into tumor necrosis factor inhibitors, interleukin inhibitors, and others. The small-molecule drugs segment is further sub-segmented into calcineurin inhibitors, retinoids, and vitamin D analogs. The topical drugs segment is further sub-segmented into topical corticosteroids, vitamin D analogs, and topical retinoids.
The biologics segment is expected to dominate the global psoriasis drugs market during the forecast period. The rising prevalence of psoriasis and increasing research and development activities to develop biologics are driving the growth of the biologics segment.
Based on the route of administration, the global psoriasis drugs market is segmented into oral and topical. The topical segment is expected to dominate the global psoriasis drugs market during the forecast period. The availability of a wide range of topical drugs and the rising demand for topical psoriasis treatments are driving the growth of the topical segment.
Based on distribution channels, the global psoriasis drugs market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment is expected to dominate the global psoriasis drugs market during the forecast period. The rising number of hospital-based dermatology centers and the growing demand for psoriasis treatment in hospitals are driving the growth of the hospital pharmacies segment.
Regionally, the global psoriasis drugs market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to dominate the global psoriasis drugs market during the forecast period. The increasing prevalence of psoriasis and the growing awareness about the disease is driving the growth of the market in North America.
Some of the major players in the global psoriasis drugs market are Johnson & Johnson Services Inc. (U.S.), GlaxoSmithKline plc (U.K.), Novartis AG (Switzerland), Pfizer Inc. (U.S.), AstraZeneca plc (U.K.), Merck & Co. Inc. (U.S.), Sun Pharmaceutical Industries Ltd. (India), AbbVie Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Celgene Corporation (U.S.), and Eli Lilly and Company (U.S.).
