Psoriasis Drug Market

Market Overview

The global psoriasis drug market was valued at USD 12.35 billion in 2023. It is estimated to reach USD 32.89 billion by 2032, growing at a CAGR of 11.50% during the forecast period (2024–2032). The global psoriasis drug market is primarily driven by the surging prevalence of psoriasis worldwide, owing to growth in risk factors like genetic, environmental, and immune systems. Moreover, there has been a rise in the research and development projects undertaken by the organizations, institutes, and major companies operating in this market. This has led to an increase in the potential drugs under clinical investigation, thereby creating opportunities for market development.

Psoriasis is a chronic autoimmune skin disorder marked by the fast accumulation of skin cells, resulting in the development of thick, silvery scales and reddened patches that are frequently itchy and occasionally painful. An overactive immune system mistakenly targets healthy skin cells, leading to rapid multiplication. Psoriasis can appear on any body area; however, it typically occurs on the scalp, elbows, knees, and lower back. The condition can also impact the nails, thickening, pitting, and discoloring.

Although there is no cure for psoriasis, numerous treatments are available that reduce symptoms and enhance quality of life. Treatments may involve topical creams, oral drugs, phototherapy, and, in extreme instances, injectable or oral therapies that focus on the immune system. Lifestyle changes, including reducing stress, following a nutritious diet, and steering clear of triggers, might aid in controlling the illness. Individuals with psoriasis should collaborate with healthcare providers to create a personalized treatment strategy.

Highlights

• Biologics dominates the drug class segment
• Interleukin inhibitors dominate the therapeutic class segment
• Retail pharmacies dominate the distribution channel segment
• North America is the highest shareholder in the global market

Market Dynamics

Global Psoriasis Drug Market Drivers:

Increasing Prevalence of Psoriasis

The prevalence of psoriasis profoundly impacts the psoriasis drug market. According to the World Psoriasis Day consortium, 125 million people globally, which accounts for 2 to 3 percent of the overall population, have psoriasis. Approximately 30% of individuals with psoriasis will also experience psoriatic arthritis. The global prevalence of psoriasis increased by 26.53% from 1990 to 2019, as per a study published in a Springer paper.

Psoriasis condition significantly affects patients' quality of life, driving the demand for effective treatments. Factors like genetic predisposition, environmental triggers, and lifestyle habits contribute to the prevalence of psoriasis. As awareness about psoriasis increases and diagnostic methods improve, more cases are identified, fueling the market for innovative drugs and therapies to alleviate symptoms and improve patient outcomes. This is estimated to enhance the psoriasis drug market.

Global Psoriasis Drug Market Restraint:

Potential Side Effects of Psoriasis Drugs

The market for psoriasis drugs has limited side effects because different treatments may cause unfavorable reactions. Many medications, particularly biologics, and systemic therapies pose risks such as increased susceptibility to infections, liver toxicity, and cardiovascular events. Patients and healthcare providers must weigh the benefits of treatment against these potential side effects, often leading to cautious prescribing practices and limited utilization of certain drugs.

Safety concerns may also contribute to treatment discontinuation or non-adherence among patients, impacting the effectiveness of therapy. Moreover, the need for regular monitoring to detect and manage side effects can add complexity and cost to psoriasis management. Significant side effects present a considerable barrier to the widespread adoption and utilization of specific psoriasis treatments, restraining psoriasis drug market growth and patient access to effective therapies.

Global Psoriasis Drug Market Opportunities:

Rise in Research and Development

In recent years, there has been a rise in the research and development of novel drugs for psoriasis treatment, which are currently under clinical investigation. For instance, in February 2024, Johnson & Johnson declared the Phase 2b FRONTIER 1 trial results for JNJ-2113. The primary and all secondary efficacy endpoints for JNJ-2113 in adults with moderate-to-severe plaque psoriasis were met in the FRONTIER 1 clinical trial. The principal outcome measure of the research was a minimum 75% reduction in the Psoriasis Area and Severity Index score (PASI 75 response) by Week 16 compared to the initial assessment.

A considerable dose-response relationship was observed in the PASI 75 at Week 16 for adult patients who were administered JNJ-2113 as opposed to those who received a placebo. Specifically, in the highest dose group tested of 100 mg twice daily, 79 percent of patients achieved a PASI 75 response. In accordance with the secondary endpoints, the data revealed that patients who were administered the maximum dose of JNJ-2113 attained PASI 100 (40.5% accuracy) and IGA 0 (clear skin) of 45.2%. Such investigation creates an opportunity for the vendors operating in this market as it can lead to the development of novel psoriasis drugs.

Regional Analysis

Based on region, the global psoriasis drug market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global psoriasis drug market shareholder and is expected to expand substantially during the forecast period. North America has a substantial portion of the global market for psoriasis drug due to the widespread prevalence of psoriasis, advanced healthcare facilities, and the prominent presence of significant market participants in the region. Psoriasis is identified as a prevalent skin disorder in the United States, as reported in an article from JAMA Network. It is expected to impact about 7 million adults in the United States, approximately 3% of the adult population. Moreover, the regional market expansion is being driven by favorable reimbursement policies and the growing utilization of biologics for treating psoriasis.

Furthermore, there has been a rise in the approval of novel drugs for psoriasis treatment by the regulatory bodies. For instance, in October 2023, UCB, an international biopharmaceutical company, revealed that the U.S. Food and Drug Administration (FDA) had approved BIMZELX® (bimekizumab-bkzx) to be used in treating moderate-to-severe plaque psoriasis in people eligible for systemic therapy or phototherapy. BIMZELX is the initial and sole authorized psoriasis remedy that blocks two crucial cytokines that stimulate inflammatory reactions – interleukin 17A (IL-17A) and interleukin 17F (IL-17F). Moreover, the US FDA approved abatacept (Orencia) to treat psoriatic arthritis (PsA) in pediatric patients two years of age and older. Therefore, these factors contribute to the expansion of the regional market.

Europe is a significant market for psoriasis drugs due to the rising prevalence of the condition, higher healthcare spending, and favorable drug approval regulations. Psoriasis impacts around 1 to 2 million individuals in the United Kingdom. Moreover, there has been an increase in research focused on developing effective medications for treating psoriasis. For instance, in February 2024, academic researchers from King's College London studied the initial impacts of an immunosuppressant medicine called IL-23 inhibitor risankizumab. This research may assist physicians in developing tailored treatment strategies for psoriasis. The study demonstrates that the medication impacts skin cells before any clinical manifestations. These factors propel the rise of the European market.

Segmental Analysis

The global psoriasis drug market share is segmented by drug class, therapeutic class, route of administration, and distribution channel.

Based on drug class, the global psoriasis drug market is bifurcated into biologics, corticosteroids, Vitamin D analogs, and others. 

The biologics segment dominates the global market. Biologics are medications designed to target a specific component of the immune system and are becoming more commonly used in treating and controlling psoriasis. Biologics have significantly transformed the market by improving the treatment of moderate to severe psoriasis cases. Biologic-based drugs for psoriasis provide benefits such as enhanced symptom control and disease management for patients.

Psoriasis treatment is advancing towards molecular medicine due to the quick progress in understanding and awareness of psoriasis. These breakthroughs have stimulated progress in targeted biological therapy, enhancing the potential for tailored medication in treating psoriasis. Biologics in psoriasis therapy have allowed producers to develop new products to compete and maintain market presence.

Based on therapeutic class, the global market for psoriasis drug is divided into tumor necrosis factor (TNF) - inhibitors, interleukin inhibitors, and others.

The interleukin inhibitors segment owns the highest market share. Interleukin inhibitors are drugs specifically targeting interleukins, a subset of cytokines responsible for modulating the immune system's reaction to inflammation and infection. IL inhibitors are a key improvement in treating psoriasis, providing tailored therapy that tackles the immunological dysfunction associated with the disorder. IL inhibitors function by obstructing particular cytokines that have a role in the inflammatory response, leading to decreased inflammation and symptom relief. Various IL inhibitors have been created and authorized for treating psoriasis, such as IL-17 Inhibitors, IL-23 Inhibitors, and IL-12/23 Inhibitors.

Based on the route of administration, the global psoriasis drug market is segmented into oral, parenteral, and topical.

The oral administration segment is expanding rapidly. Oral drugs are typically used when topical therapies and phototherapy have not worked, especially for those with severe psoriasis. Common oral drugs for psoriasis are methotrexate, acitretin, cyclosporine, and apremilast. Moreover, major stakeholders aim to introduce additional treatments in this sector, increasing the clinical trials of these drugs.

For instance, in August 2023, SFA Therapeutics revealed that SFA-002 showed improvement in the signs and symptoms of persistent plaque psoriasis in individuals within six weeks, based on data from a phase 1b trial. SFA-002 is an oral medication that reduces the levels of pro-inflammatory cytokines associated with developing psoriasis, such as tumor necrosis factor-alpha, interferon?gamma, and other interleukin pathways. These factors propel the expansion of the segment.

Based on distribution channels, the global market for psoriasis drug is divided into hospital pharmacies, retail pharmacies, e-commerce platforms, and others. 

The retail pharmacies segment holds a significant market share. Retail pharmacies are establishments that dispense and sell prescription medication, over-the-counter drugs, and other health-related products directly to consumers. These pharmacies are usually in community settings, such as independent storefronts, supermarkets, or bigger retail chains. They offer vital services, including dispensing medications, providing medical guidance, giving immunizations, and selling health and wellness products like supplements, vitamins, and personal care items.

Recent Developments

• November 2023- Wezlana, the first biosimilar to the blockbuster psoriasis drug Stelara (ustekinumab), was approved by the U.S. Food and Drug Administration. The agency issued the statement subsequent to a sequence of fruitful clinical trials conducted by Amgen, a pharmaceutical corporation.
• October 2023- Glenmark Pharmaceuticals Ltd. obtained final approval from the United States Food & Drug Administration (U.S. FDA) for Apremilast Tablets in 10 mg, 20 mg, and 30 mg doses. This medicine is used to treat specific forms of psoriasis and psoriatic arthritis.