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Psoriasis Treatment Market Size to Surpass USD 48.33 Billion by 2030 at 7.80% CAGR – Report by Market Research Future (MRFR)

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New York, USA, March 07, 2023 (GLOBE NEWSWIRE) — Psoriasis Treatment Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Psoriasis Treatment Market Information by Drug Class, Treatment Type and Region – Forecast till 2030”, the market size was valued at USD 14.25 billion in 2021 and is projected to grow from USD 16.45 billion in 2022 to USD 48.33 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2022 – 2030).

Psoriasis Treatment Market Dynamics

Increasing number of patients of psoriasis and increasing prevalence of skin disorders in the developed nations are driving the market growth. Combination therapy is the most common way to treat psoriasis. It involves the combination of two drugs to achieve improved therapeutic results for patients who inadequately respond to a single drug. The most frequent treatment for psoriasis is combination therapy. It entails combining two medications to improve treatment outcomes for patients who do not react satisfactorily to a single therapy. Furthermore, because a lower dose of two separate medicines may have a superior safety and effectiveness profile when taken in combination, combination treatment may lessen safety issues and cumulative toxicity. The vast range of combination treatments recommended may indicate a greater emphasis on therapy individualization to accommodate individuals’ various preferences. Prescription drugs such as corticosteroids, vitamin D compounds, vitamin A derivatives (tazarotene), and anthralin are now approved as topical therapies.

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Psoriasis Treatment Market Segmentation
The drug class and treatment type are included in the market segmentation for psoriasis treatment.

By Drug Class

The list also includes anticholinergics, which are further divided into stekinumab, secukinumab, ixekizumab, and brodalumab, as well as tumour necrosis factor (TNF) inhibitors, which are further divided into adalimumab, infliximab, and etanercept. Finally, vitamin D analogues are further divided into calcitriol, calcitol, and t In terms of market revenue for psoriasis treatments, the sector of tumour necrosis factor (TNF) inhibitors had the majority share.

This is mostly due to lower branded product pricing as a result of the introduction of biosimilar equivalents and increased prescription volume for interleukin inhibitors. Moreover, interleukins inhibitors are predicted to be the fastest growing category due to the rising number of research studies being done throughout the world to assess the efficiency of these pharmaceuticals in the treatment of this condition.

The US Food and Drug Administration (FDA) approved Arcutis Biotherapeutics, Inc.’s New Drug Application (NDA) for ZORYVE (roflumilast) cream 0.3% for the treatment of plaque psoriasis, including intertriginous regions, in patients 12 years of age and older.

Otezla was approved by the US Food and Drug Administration to treat mild to moderate plaque psoriasis in adults.

These elements have aided the business in increasing the number of products it offers for oral administration. The European Commission granted UCB S.A. clearance to use Bimzelx to treat moderate to severe plaque psoriasis at a recommended dosage of 320 mg, given twice subcutaneously.

By Treatment Type

The Psoriasis Treatment market segmentation, based on treatment type includes topicals which is sub-segmented into Over-The-Counter (OTC) Topicals, Topical Non-Steroids, Topical Steroids, then systemic further sub-segmented into Retinoid, Cyclosporine, Methotrexate, and then comes biologics which again bi-furcated into Tumor Necrosis Factor Alpha (TNF-A) Inhibitors, InterleU.K.In 12 And 23 (IL-12/23) Inhibitors, InterleU.K.In 17 (IL-17) Inhibitor, and T Cell Inhibitor. In terms of the market revenue for psoriasis treatments in 2021, the biologic category commanded the market share.

This is because several large-scale businesses have recognised the launch of new items as a prime chance for market expansion. Market participants are also concentrating on forming strategic alliances and mergers, which produced a number of ground-breaking goods. As a result, the expansion of the psoriasis treatment market will be fueled by the adoption of psoriasis treatment programmes in biologic pharmaceuticals.

Cosentyx was approved by the US Food and Drug Administration (FDA) for Novartis AG. It is used to treat psoriatic arthritis and enthesitis-related arthritis in children and adolescents. Additionally, it is the first biologic suggested for ERA, and the only biologic therapy licenced for both ERA and PsA in juvenile patients in the US.

Announcing the availability of their ILUMYA injections for the treatment of moderate-to-severe plaque psoriasis in Canada, Sun Pharmaceutical Industries Ltd.

BIMZELX (bimekizumab) has been given marketing authorisation by the European Commission (EC) for the treatment of moderate to severe plaque psoriasis in people who are candidates for systemic therapy, according to UCB S.A.

About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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