Market Trends of Global Psoriasis Drugs Industry
This section covers the major market trends shaping the Psoriasis Drugs Market according to our research experts:
Interleukin Inhibitors Segment are Expected to Register a High CAGR Over the Forecast Period
Interleukin inhibitors are anticipated to witness the fastest growth during the forecast period. The factors aiding interleukin inhibitors are their improved safety and efficacy compared to other classes of psoriasis drugs, consistently leading to increased patient adoption. Major approved antibodies targeting interleukins include Taltz (Ixekizumab), Cosentyx (Secukinumab), Siliq (Brodalumab), Tremfya (Guselkumab), Ilumya (Tildrakizumab), and SKYRIZI (Risankizumab) and others.
The approvals of drugs by the regulatory authorities are also contributing to the growth of the segment. For instance, in January 2022, AbbVie received United States Food and Drug Administration approval for SKYRIZI (risankizumab-rzaa), an interleukin-23 (IL-23) inhibitor for treating adults with active psoriatic arthritis (PsA). This systemic inflammatory disease affects the skin and joints and impacts approximately 30% of psoriasis patients.
Additionally, in June 2021, UCB reported that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion for recommending, granting, and marketing authorization for BIMZELX (bimekizumab), an investigational IL-17A and IL-17F inhibitor, for the treatment of moderate to severe plaque psoriasis in adults who are candidates for systemic therapy. Such approvals and launches are contributing to the growth of the market segment.
Thus, owing to the abovementioned factors, the market segment is expected to show significant growth over the forecast period.
North America Dominates the Market and is Expected to do so in the Forecast Period
North America has been one of the worst affected regions by the ongoing COVID-19 pandemic. The growth of the psoriasis market is expected to slow down to some extent because patients avoid visiting dermatology clinics for psoriasis treatment. Apart from restrictions on non-emergency medical services, new rules by the governments across this region have forced several players in the psoriasis drug market to halt their business operations, which has impacted the growth of the market.
However, the region is expected to dominate the psoriasis market during the forecast period due to an increase in disease burden and demand for psoriasis medicines, increasing use of combination therapies, and an upsurge in psoriasis research and pipeline drugs. In North America, the United States holds the largest market share due to the high psoriasis prevalence. As per the article titled "Prevalence of Psoriasis in Children and Adolescents in the United States" published in the JAMA Network 2021, an estimated 7.55 million United States adults were living with psoriasis. Psoriasis prevalence was similar between women and men, with 3.2% in women and 2.8% in men. Other factors that will propel the market's growth include the presence of favorable government initiatives and the presence of developed healthcare infrastructure.
Moreover, MC2 Therapeutics, a Europe-based company, collaborated with EPI Health LLC in August 2020 to commercialize its WYNZORA Cream (calcipotriene and betamethasone dipropionate, w/w 0.005%/0.064%) in the United States. The WYNZORA Cream was approved in July 2020 by the US FDA for the topical indication of plaque psoriasis in adults. The upcoming launch of WYNZORA Cream in the North American market may further propel the market's growth in this region.
As a result of the aforementioned factors, the market's growth in the region is expected to accelerate over the forecast period.
