Increasing Use of Combination Therapies
A newer treatment approach that is being used is to combine two types of systemic drugs, i.e., a traditional drug and a biologic. More research is still continuing on this approach, however, studies conducted suggest that it often eases psoriasis symptoms more effectively than either treatment by itself. Biologics usually take a while to work. Combining a biologic with a faster-acting systemic drug, such as cyclosporine, is usually much more effective and safe. With faster, longer-lasting results and fewer side effects, requiring lower doses, many doctors are prescribing combination therapies, which is expected to drive the psoriasis drugs market.
Additionally, increasing disease burden and demand for psoriasis medicines in emerging economies and increase in psoriasis research and pipeline drugs are also driving the global psoriasis drugs market.
Adverse Side Effects of Existing Medications
Biologic drugs that target specific proteins or cells, are typically prescribed when other treatments have failed. Common side effects range from minor injection-site reactions to flu-like symptoms, to more serious respiratory infections. Biologic medication might also lead to an increased risk for infection or cancer of the lymph nodes (lymphoma), and they may also be associated with heart failure or central nervous system disorders. As a result of these side effects, these drugs are not prescribed for a long period of time. Many patients are also apprehensive to take drugs with potential adverse side effects, which is a major factor restraining the global psoriasis drugs market.
Additionally, the high cost of psoriasis treatments, extensive drug development, and approval process are hindering the growth of global psoriasis drugs market.
North America is Dominating the Market
North America dominates the global market due to the high healthcare infrastructure, high adoption of therapeutics, and presence of major players in that region. Moreover, increasing prevalence and favorable government initiatives are some of the drivers that are responsible for the growth of the market.
Key Developments in the Market
- August 2017: Boehringer Ingelheim Pharmaceuticals Inc. got approval for Cyltezo for the treatment of multiple chronic inflammatory diseases, including active psoriatic arthritis, moderate to severe active adult Crohn’s disease, and moderate to severe plaque psoriasis.
Reasons to Purchase the Report
- Current and future market outlook for psoriasis drugs in the developed and emerging markets
- Analyze various perspectives of the market, with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth, during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support, along with the market estimate sheet in excel.
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porters Five Forces
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Driver
6.1.1 Increasing Disease Burden and Demand of Psoriasis Medicines in Emerging Economies
6.1.2 Increasing Use of Combination Therapies
6.1.3 Increase in Psoriasis Research and Pipeline Drugs
6.2 Market Restraint
6.2.1 Adverse Side Effects of Existing Medications
6.2.2 High Cost of Psoriasis Treatments
6.2.3 Extensive Drug Development and Approval Process
6.4 Key Challenges
7. Market Segmentation
7.1 By Type of Treatment
7.1.1 Biologic Drugs
7.1.2 Small Molecule Systemic Drugs
7.1.3 Tropical Therapies
7.2 By Mechanism of Action
7.2.1 TNF Alpha Inhibitors
184.108.40.206 Etanercept (Enbrel)
220.127.116.11 Certolizumab Pegol(Cimzia)
18.104.22.168 Adalimumab (Humira)
22.214.171.124 Infiximab (Remicade)
126.96.36.199 Golimumab (Simponi )
7.2.2 PDE4 Inhibitors
188.8.131.52 Apremilast (Otezla)
7.2.3 Interleukin Blockers
184.108.40.206 Secukinumab (Cosentyx™)
220.127.116.11 Ustekinumab (Stelara)
7.3 By Route of Administration
7.4 By Geography
7.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 New Zealand
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
7.4.4 Middle East & Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
7.4.5 South America
126.96.36.199 Rest of South America
8. Competitive Landscape
8.1 Mergers and Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Product Launches
9. Key Players
9.1 Eli Lilly
9.2 Pfizer Inc.
9.3 Janssen Biotech Inc.
9.4 Celgene Corporation
9.5 Takeda Pharmaceutical Company Limited
9.6 Stiefel Laboratories Inc.
9.7 Novartis AG
9.8 Amgen Inc.
9.9 Biogen Idec
9.10 AbbVie Inc.
10. Future of the Market