Covid 19 Outbreak Impact Analysis Psoriasis Treatment Market
Psoriasis Treatment Market: Predictive Biomarkers Offer Opportunities in Specialised Medicine
Even as healthcare, as a whole, is transitioning slowly towards value-based care for better patient outcomes and improved quality of life, increase in the prevalence of psoriasis, globally, is spurring investments toward its treatment and management methods. This has resulted in manufacturers in the psoriasis treatment market focussing on research & development for better disease management, which has led to the innovation of newer drugs that are more efficient. For instance, in April 2019, Samsung Bioepis’ – Eticovo, the second biosimilar of Etanercept, was approved by the FDA for the treatment of psoriasis in moderate to severe cases.
With biologics gradually losing their exclusivity and becoming increasingly accessible, they are expected to positively contribute to the growth of the global psoriasis treatment market. According to this study by Transparency Market Research, in 2018, the market was valued at ~US$ 13.8 Bn, and is set to hit the ~US$ 35.7 Mn by the end of the forecast period.
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Psoriasis Treatment Market: Personalised Medicine Gaining Popularity
As a significant aspect of value-based medicine that aims at improving the quality of care, due to advancements in technology, personalized medicine is quickly gaining traction in the psoriasis treatment market. The management of this disease, has, in recent years, moved from a one-drug-fits-all solution to a tailor-made plan, backed by newer modalities and drugs, and the increasing availability of predictive biomarkers. This is opening up opportunities for manufacturers in the psoriasis treatment market for the development of biological therapies, which is shaping the evolution of the market.
Psoriasis treatment is moving towards molecular medicine, driven by rapidly growing knowledge and understanding of the disease. This is leading to the evolution of specific biological therapies, expanding the potential of personalised medicine in psoriasis treatment.
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Biologics in Psoriasis Treatment
Biologics are drugs that are designed to impact only a particular part of the immune system, and are increasingly being used for the treatment and management of psoriasis. Being more effective in the treatment of moderate to severe cases of psoriasis, biologics have entirely reshaped the market. The benefits offered by biologic-based treatments for psoriasis include better control and management of the symptoms and improved quality of life for patients.
The use of biologics in psoriasis treatment has resulted in lucrative prospects for manufacturers in the market, as they compete for the development of new products to stay relevant in the landscape. For instance, in April 2019, Novartis AG, a major player in the psoriasis treatment market, launched Cosenty, the first-in-class interleukin-17A (IL-17A) inhibitor for moderate to severe plaque psoriasis. Innovation and product development continues to have a major role to play in the psoriasis treatment market.
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Global Psoriasis Treatment Market: Competition Landscape
The global psoriasis treatment market is largely consolidated, with larger and established players occupying most share of the landscape, with smaller players making up the rest of the market. Globally established players such as Johnson & Johnson, AbbVie Inc., Novartis AG, Amgen Inc., and Eli Lilly and Company account for ~70% of the market. They are increasingly focusing on strategic collaborations to accelerate product innovation. For instance, in October 2018, Amgen launched AMGEVITA, the first adalimumab biosimilar for the treatment of moderate to severe treatment of the disease. In February 2019, the U.S. Food and Drug Administration (FDA) approved TREMFYA® One-Press, a single-dose, patient-controlled injector for adults, by Janssen Pharmaceutical Companies of Johnson & Johnson.
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