rising incidence of psoriasis is driving the Systemic Psoriasis Therapeutics Market
Technavio analyzes that the Systemic Psoriasis Therapeutics Market is expected to grow at a CAGR of 16.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 18061.9 million.There are various factors that contribute to the growth of the market. The systemic psoriasis therapeutics market is experiencing significant growth due to the increasing prevalence of psoriasis worldwide. Psoriasis is a chronic autoimmune disease characterized by red, scaly patches on the skin. According to the National Psoriasis Foundation, approximately 7.5 million Americans are living with psoriasis, and this number is projected to rise. The high incidence rate is driving the demand for effective systemic treatments, which include biologics, immunosuppressants, and retinoids, among others. These therapies help control the symptoms and prevent flare-ups, making them essential for managing the disease. The market for systemic psoriasis therapeutics is expected to continue expanding as research and development efforts yield new and improved treatment options.
Hospitals play a pivotal role in the global systemic psoriasis therapeutics market, serving as critical sites for conducting clinical trials and administering advanced treatments. In June 2024, a significant breakthrough was achieved at the Government Thoothukudi Medical College Hospital in Tamil Nadu, India, where dermatologists conducted a clinical trial for plaque psoriasis and psoriatic arthritis (PsA) using Neu REFIX beta-glucan. The 28-day oral regimen demonstrated remarkable improvements in clinical signs and symptoms, as evidenced by the trial's results. This collaborative effort between Indian and Japanese scientists underscores the importance of international partnerships in advancing psoriasis treatment. Hospitals' infrastructure and expertise are essential for conducting rigorous scientific research, particularly in the development and testing of non-biologic drugs, including interleukin inhibitors and TNF inhibitors, via telemedicine platforms.
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Systemic Psoriasis Therapeutics Market Segmentation
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Systemic psoriasis is a chronic autoimmune inflammatory disorder characterized by the development of red, scaly patches on the skin. The therapeutics market for psoriasis focuses on treating both plaque psoriasis and psoriatic arthritis (PsA), which is an associated systemic inflammatory condition. Biologically targeted therapies, such as TNF-alpha inhibitors and interleukin inhibitors, are popular treatments for this chronic skin disorder. These therapeutics come in various forms, including oral, topical, and parenteral, and fall under the categories of biologics and non-biologic drugs. The demand for treatment for psoriasis and PsA is high due to the impact of immunological and genetic factors, as well as systemic inflammatory conditions like metabolic syndrome, cardiovascular disease, inflammatory bowel disease, and psychological issues. Telemedicine and drug development in biotechnology are also playing a significant role in the advancement of treatment outcomes for this disorder.
The systemic psoriasis therapeutics market is a significant segment of the global pharmaceuticals industry, focusing on the development and production of treatments for psoriasis, an autoimmune skin disorder. Key therapeutic classes include TNF-alpha inhibitors and interleukin inhibitors, utilized for managing plaque psoriasis and psoriatic arthritis. This market encompasses companies specializing in research and development (R&D) or manufacturing of both generic and non-generic drugs, as well as veterinary drugs. The global pharmaceuticals market's expansion is driven by demographic trends, with the aging population being a primary factor. By 2050, approximately one-quarter of the US population and by 2030 in Europe are projected to be over 60 years old, increasing the demand for healthcare solutions, including systemic psoriasis therapeutics.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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