The global psoriasis drugs market accounted for USD 12.41 billion in 2023 and is expected to reach at USD 41.26 billion by 2034 with a CAGR of 11.54% during the forecast period 2024-2034. The market will grow due to factors such as the increasing prevalence of psoriasis, improved diagnosis and awareness, advancements in psoriasis treatment choices, the high cost of psoriasis therapy, and a simplified global drug approval process.
Around the world, millions of people suffer from psoriasis, a chronic autoimmune disease. Factors such as genetic predisposition, environmental triggers, and lifestyle choices are contributing to the global increase in the prevalence of psoriasis. One of the main factors fueling the market expansion for psoriasis medications is its growing prevalence. For instance, AbbVie reported encouraging outcomes in February 2024 from a late-stage clinical trial assessing the experimental interleukin-23 inhibitor risankizumab for the management of moderate-to-severe psoriasis.
By type of treatment, the biologic drugs segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to the high efficacy, targeted mechanism of action, and increasing acceptance among physicians and patients. For instance, UCB entered the IL-17 inhibitor market when the Japanese Ministry of Health granted marketing clearance for Bimzelx (bimekizumab) in January 2022, to treat moderate-to-severe psoriasis. Additionally, the small molecule systemic drugs segment is predicted to grow at the fastest CAGR during the forecast period owing to the development of innovative formulations, expanded indications, and favorable reimbursement policies.
By the mechanism of action, the TNF-alpha inhibitors segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to its irreplaceable position in treatment protocols, proven efficacy, and extensive clinical experience. For instance, in December 2022, Amgen declared that the European Commission has approved the biosimilar drug adalimumab for use in treating psoriasis for commercial use. Additionally, the interleukin inhibitors segment is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding research, promising clinical trial results, and increasing adoption as first-line therapies.
By route of administration, the parenteral (injections) segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to the convenience, rapid onset of action, and preference among patients for effective management of psoriasis symptoms. For instance, Johnson & Johnson reported positive top-line results in November 2022 from a Phase 3 study assessing guselkumab subcutaneous formulation for psoriasis treatment. Additionally, the oral segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing development of oral formulations, improved patient compliance, and preference for non-invasive treatment options.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to the preference for specialized care, availability of a wide range of treatments, and accessibility to patients with severe psoriasis cases. For instance, Novartis released encouraging long-term results in October 2023 regarding the use of its interleukin-17 inhibitor to treat psoriasis. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the convenience, expanding digital healthcare services, and increasing preference for online purchasing among consumers.
North American region is anticipated to have the highest revenue share during the forecast period owing to the high prevalence of psoriasis, well-established healthcare infrastructure, and early adoption of advanced treatment options. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to rising awareness, improving healthcare infrastructure, and increasing prevalence of psoriasis in the region. For instance, Eli Lilly announced in December 2022 that the European Commission had approved its biologic medicine for use in treating psoriasis.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Around the world, millions of people suffer from psoriasis, a chronic autoimmune disease. Factors such as genetic predisposition, environmental triggers, and lifestyle choices are contributing to the global increase in the prevalence of psoriasis. One of the main factors fueling the market expansion for psoriasis medications is its growing prevalence. For instance, AbbVie reported encouraging outcomes in February 2024 from a late-stage clinical trial assessing the experimental interleukin-23 inhibitor risankizumab for the management of moderate-to-severe psoriasis.
By type of treatment, the biologic drugs segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to the high efficacy, targeted mechanism of action, and increasing acceptance among physicians and patients. For instance, UCB entered the IL-17 inhibitor market when the Japanese Ministry of Health granted marketing clearance for Bimzelx (bimekizumab) in January 2022, to treat moderate-to-severe psoriasis. Additionally, the small molecule systemic drugs segment is predicted to grow at the fastest CAGR during the forecast period owing to the development of innovative formulations, expanded indications, and favorable reimbursement policies.
By the mechanism of action, the TNF-alpha inhibitors segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to its irreplaceable position in treatment protocols, proven efficacy, and extensive clinical experience. For instance, in December 2022, Amgen declared that the European Commission has approved the biosimilar drug adalimumab for use in treating psoriasis for commercial use. Additionally, the interleukin inhibitors segment is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly expanding research, promising clinical trial results, and increasing adoption as first-line therapies.
By route of administration, the parenteral (injections) segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to the convenience, rapid onset of action, and preference among patients for effective management of psoriasis symptoms. For instance, Johnson & Johnson reported positive top-line results in November 2022 from a Phase 3 study assessing guselkumab subcutaneous formulation for psoriasis treatment. Additionally, the oral segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing development of oral formulations, improved patient compliance, and preference for non-invasive treatment options.
By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global psoriasis drugs market in 2023 owing to the preference for specialized care, availability of a wide range of treatments, and accessibility to patients with severe psoriasis cases. For instance, Novartis released encouraging long-term results in October 2023 regarding the use of its interleukin-17 inhibitor to treat psoriasis. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the convenience, expanding digital healthcare services, and increasing preference for online purchasing among consumers.
North American region is anticipated to have the highest revenue share during the forecast period owing to the high prevalence of psoriasis, well-established healthcare infrastructure, and early adoption of advanced treatment options. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to rising awareness, improving healthcare infrastructure, and increasing prevalence of psoriasis in the region. For instance, Eli Lilly announced in December 2022 that the European Commission had approved its biologic medicine for use in treating psoriasis.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Type of Treatment, Mechanism of Action, Route of Administration, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Psoriasis Drugs Market Report 2023 - 2034
Psoriasis Drugs Market Analysis & Forecast by Type of Treatment 2023 - 2034 (Revenue USD Bn)
- Biologic Drugs
- Small Molecule Systemic Drugs
- Tropical Therapies
Psoriasis Drugs Market Analysis & Forecast by Mechanism of Action 2023 - 2034 (Revenue USD Bn)
- TNF Alpha Inhibitors
- Etanercept
- Certolizumab Pegol
- Adalimumab
- Infiximab
- Golimumab
- PDE4 Inhibitors
- Apremilast
- Interleukin Inhibitors
- Secukinumab
- Ustekinumab
- Others
- Others
Psoriasis Drugs Market Analysis & Forecast by Route of Administration 2023 - 2034 (Revenue USD Bn)
- Oral
- Parenteral
- Topical
Psoriasis Drugs Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Psoriasis Drugs Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Psoriasis Drugs Market: Type of Treatment Estimates & Trend Analysis
8. Psoriasis Drugs Market: Mechanism of Action Estimates & Trend Analysis
9. Psoriasis Drugs Market: Route of Administration Estimates & Trend Analysis
10. Psoriasis Drugs Market: Distribution Channel Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Psoriasis Drugs Market
13. Europe Global Psoriasis Drugs Market
14. Asia Pacific Global Psoriasis Drugs Market
15. Latin America Global Psoriasis Drugs Market
16. MEA Global Psoriasis Drugs Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- AbbVie Inc.
- Amgen Inc.
- Johnson & Johnson
- Novartis International AG
- Pfizer Inc.
- Eli Lilly and Company
- Merck & Co. Inc.
- Celgene Corporation (acquired by Bristol Myers Squibb)
- UCB S.A.
- LEO Pharma A/S
- Sun Pharmaceutical Industries Ltd.
- Boehringer Ingelheim International GmbH
- GlaxoSmithKline plc
- Biogen Inc.
- Almirall S.A.
