Psoriasis is a chronic, immune-mediated inflammatory disease characterized primarily by red, scaly patches on the skin. It is not only a dermatological condition but also a systemic disease that may be associated with psoriatic arthritis and increased risks of cardiovascular, metabolic, and psychological comorbidities. Psoriasis treatment has evolved significantly over the past two decades, moving from traditional topical therapies and systemic drugs to highly targeted biologics and, more recently, oral small molecules that inhibit specific immune pathways. The global psoriasis treatment drug market has grown rapidly in line with advancements in immunology and biotechnology. By 2025, the market is estimated to reach USD 14-24 billion, supported by rising disease awareness, improved diagnostic practices, and the growing adoption of biologics and next-generation small molecule drugs. From 2025 to 2030, the market is expected to expand at a compound annual growth rate (CAGR) of 5.5%-8.5%, driven by robust uptake of biologics, expansion of pipeline assets, and broadening reimbursement coverage in developed economies.
* Biologic Penetration in Emerging Markets: Rising healthcare infrastructure and expanding reimbursement in Asia-Pacific and Latin America open growth avenues for biologics.
* Pipeline Innovation: Next-generation immunology drugs targeting novel pathways (e.g., IL-36, RORγ inhibitors) may further expand treatment choices.
* Comorbidity Management: Increased recognition of psoriasis as a systemic condition encourages comprehensive care, supporting greater uptake of advanced therapies.
* Biosimilar Competition: Patent expiries for established biologics such as ustekinumab will open the market to biosimilars, impacting branded revenues.
* Safety Concerns: Long-term safety monitoring for new therapies remains critical, particularly for immunomodulators with potential systemic effects.
* Market Saturation in Developed Regions: In the U.S. and Europe, biologic penetration is already high, limiting growth opportunities to patient switching and pipeline launches.
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Regional Market Trends
- United States: The U.S. is the largest and most important market, accounting for more than 70% of global revenues. Several factors contribute to this dominance: high disease prevalence, rapid adoption of innovative biologics, premium drug pricing, and broad reimbursement. The U.S. market benefits from a strong presence of leading pharmaceutical companies, robust clinical trial infrastructure, and a supportive regulatory environment for innovative immunology drugs. Growth in the U.S. is expected at a 6%-8% CAGR through 2030.
- Europe: Western Europe represents the second-largest regional market, with significant revenues from Germany, the U.K., France, and Italy. National reimbursement policies and guideline-driven clinical practice support uptake of biologics, though cost containment measures can slow penetration of newer therapies. Growth is projected at a 5%-7% CAGR.
- Asia-Pacific: Japan, South Korea, China, and India are showing rising demand as healthcare infrastructure improves and awareness of psoriasis as an immune-mediated systemic condition increases. Japan and South Korea are more advanced markets with established biologic adoption, while China and India are expected to contribute strong growth from a smaller base. Regional growth is estimated in the 6%-8.5% CAGR range.
- Latin America: Brazil and Mexico lead adoption in Latin America, though market access challenges and limited insurance coverage restrict broad penetration of premium-priced biologics. Nevertheless, increasing access to generics and biosimilars supports steady growth, projected at 5%-6.5% CAGR.
- Middle East & Africa: This region is the smallest but growing market, with increasing government spending on specialty pharmaceuticals and expansion of private insurance coverage. Growth is anticipated at 5%-6.5% CAGR, albeit from a limited base.
Product Type Segmentation and Trends
- Risankizumab (Skyrizi; AbbVie): One of the fastest-growing therapies, risankizumab is an IL-23 inhibitor demonstrating strong efficacy and favorable dosing schedules. AbbVie reported USD 3.77 billion in 2024 revenues for Skyrizi, making it a cornerstone of its immunology portfolio. Growth momentum remains strong, supported by continued uptake in plaque psoriasis and psoriatic arthritis, with expected growth in the 7%-8.5% CAGR range.
- Guselkumab (Tremfya; Johnson & Johnson): Also targeting IL-23, guselkumab is a key biologic for Johnson & Johnson, generating USD 3.67 billion in 2024. Its efficacy profile and competitive positioning against other IL-23 inhibitors support ongoing growth at 6.5%-8% CAGR.
- Ixekizumab (Taltz; Lilly): Ixekizumab, an IL-17A inhibitor, has established a strong presence in psoriasis and psoriatic arthritis. It is well-regarded for its rapid onset of action and broad efficacy across patient subgroups. Market growth is expected at 5.5%-7% CAGR.
- Secukinumab (Cosentyx; Novartis): One of the first IL-17A inhibitors, secukinumab has become a blockbuster therapy with broad indications in psoriasis, psoriatic arthritis, and ankylosing spondylitis. Though facing competitive pressures from newer biologics, it remains a leading therapy, projected to grow at 5%-6.5% CAGR.
- Ustekinumab (Stelara; Janssen): An IL-12/23 inhibitor, ustekinumab is a well-established therapy but faces increasing competition from newer IL-23-specific inhibitors. While still widely used due to its broad immunology indications, growth is expected to slow to 3.5%-5% CAGR.
- Deucravacitinib (Sotyktu; Bristol Myers Squibb): This TYK2 inhibitor is the first oral small molecule with a novel mechanism approved for psoriasis. Positioned as a highly effective oral therapy, it addresses patient preference for non-injectable options. Strong adoption is anticipated, with growth projected at 7%-8.5% CAGR, making it one of the fastest-growing therapies in the segment.
- Apremilast (Otezla; Amgen): A PDE4 inhibitor, apremilast is the leading oral small molecule for psoriasis, though it is less effective than biologics. Amgen reported USD 2.12 billion in 2024 revenues for Otezla. While competitive pressures from deucravacitinib are expected, Otezla remains relevant due to its oral administration and broad access. Growth is projected at 4%-5.5% CAGR.
- Topical Products: Traditional therapies such as corticosteroids, vitamin D analogs, and combination products remain important for mild-to-moderate psoriasis, particularly in emerging markets. Growth is expected at a modest 2.5%-4% CAGR, given the increasing shift toward systemic and biologic therapies for moderate-to-severe disease.
Key Companies
- AbbVie: A global biopharmaceutical leader, AbbVie dominates the psoriasis treatment drug market with Skyrizi and previously Humira. Skyrizi’s strong sales trajectory reinforces AbbVie’s leadership in immunology.
- Johnson & Johnson (Janssen Pharmaceuticals): Janssen has long been a leader in immunology with Stelara and Tremfya, both of which are pivotal to its portfolio. Tremfya’s rapid uptake underscores J&J’s ability to adapt to evolving treatment paradigms.
- Eli Lilly: Lilly’s ixekizumab (Taltz) has gained strong traction in psoriasis and psoriatic arthritis, complementing its broader immunology and oncology pipelines.
- Novartis: Novartis’s Cosentyx was one of the earliest IL-17A inhibitors, and it continues to contribute significant revenues, maintaining a solid competitive position despite newer entrants.
- Bristol Myers Squibb: BMS has expanded into dermatology with deucravacitinib, a differentiated TYK2 inhibitor that is poised to reshape the oral therapy segment in psoriasis.
- Amgen: Amgen’s Otezla remains a critical therapy, especially in patients preferring oral medications, though competition from deucravacitinib is expected to challenge future growth.
Porter’s Five Forces Analysis
Threat of New Entrants - Low to Moderate
The psoriasis treatment drug market is characterized by high regulatory barriers, significant R&D investment requirements, and long development timelines. While biosimilars and generics may increase competition, barriers remain substantial for innovative therapies.Bargaining Power of Suppliers - Moderate
Suppliers of biologics manufacturing technologies and raw materials for advanced therapies hold moderate power. However, major pharmaceutical companies often have integrated capabilities, reducing dependency.Bargaining Power of Buyers - High
Payers and healthcare systems exert strong bargaining power, particularly in Europe where cost-effectiveness assessments drive reimbursement. In the U.S., managed care organizations negotiate pricing, though market demand for effective therapies sustains pricing power for leading drugs.Threat of Substitutes - Moderate
Substitution exists among biologics targeting different pathways (IL-23 vs. IL-17 vs. TYK2 inhibitors). However, given variability in patient response, multiple therapies coexist rather than replacing one another completely.Industry Rivalry - High
Competition among AbbVie, J&J, Novartis, Lilly, Amgen, and BMS is intense. Each company competes for share in the moderate-to-severe psoriasis segment, with innovation, safety profiles, and dosing convenience being critical differentiators.Opportunities and Challenges
Opportunities
* Expansion of Oral Therapies: Patient demand for convenient, non-injectable options creates significant opportunities for oral agents like deucravacitinib.* Biologic Penetration in Emerging Markets: Rising healthcare infrastructure and expanding reimbursement in Asia-Pacific and Latin America open growth avenues for biologics.
* Pipeline Innovation: Next-generation immunology drugs targeting novel pathways (e.g., IL-36, RORγ inhibitors) may further expand treatment choices.
* Comorbidity Management: Increased recognition of psoriasis as a systemic condition encourages comprehensive care, supporting greater uptake of advanced therapies.
Challenges
* Pricing and Access Pressures: Payers increasingly scrutinize high-cost biologics, pushing for discounts, biosimilars, and cost-effectiveness evidence.* Biosimilar Competition: Patent expiries for established biologics such as ustekinumab will open the market to biosimilars, impacting branded revenues.
* Safety Concerns: Long-term safety monitoring for new therapies remains critical, particularly for immunomodulators with potential systemic effects.
* Market Saturation in Developed Regions: In the U.S. and Europe, biologic penetration is already high, limiting growth opportunities to patient switching and pipeline launches.
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Table of Contents
Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
Chapter 7 Latest Market Dynamics
Chapter 8 Historical and Forecast Psoriasis Treatment Drug Market in North America (2020-2030)
Chapter 9 Historical and Forecast Psoriasis Treatment Drug Market in South America (2020-2030)
Chapter 10 Historical and Forecast Psoriasis Treatment Drug Market in Asia & Pacific (2020-2030)
Chapter 11 Historical and Forecast Psoriasis Treatment Drug Market in Europe (2020-2030)
Chapter 12 Historical and Forecast Psoriasis Treatment Drug Market in MEA (2020-2030)
Chapter 13 Summary For Global Psoriasis Treatment Drug Market (2020-2025)
Chapter 14 Global Psoriasis Treatment Drug Market Forecast (2025-2030)
Chapter 15 Analysis of Global Key Vendors
Tables and Figures
Companies Mentioned
- AbbVie
- Lilly
- Johnson & Johnson
- Novartis
- Bristol Myers Squibb
- Amgen
