The Global Psoriasis drugs market size stood at USD 20.09 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
The psoriasis drugs market consists of sales of psoriasis drugs. Psoriasis is a persistent skin disorder that causes distress and pain through patches of abnormal skin. Psoriasis can be caused due to injuries to the skin, medications, genetics, infection, diet, weather, etc.
Combination therapy is an emerging trend in the psoriasis market. Combination therapy is an f treatment that combines two different psoriasis treatments at the same time. When two drugs with different mechanisms of action are combined (combination therapy), the effect is greater than that obtained by monotherapy (treatment with a single drug)
Market Growth Drivers
The rise in psoriasis patients in the past few years can be mainly attributed to climate change, stress, and unhealthy lifestyle. According to the World Psoriasis Day consortium, 125 million people globally – 2 to 3 percent of the total population have psoriasis.
The high cost of psoriasis therapy is a restraint for the psoriasis market. According to a study conducted by JAMA Dermatology in 2019, the typical psoriasis treatments with biologics are very costly, ranging between $10,000 and $25,000 per year. The high cost is because patent protections are preventing many alternative drugs.