Psoriasis is an autoimmune condition and cannot be cured completely. The current treatment methods, to an extent, effectively work in controlling the disease. Hence, the opportunities for consumption remains worthy for players in the global psoriasis treatment market in the coming years. However, with time, companies would want to stay ahead in the league and hence are working on developing drugs that are more effective. The current drug pipeline appears to be promising and any launch in the next few years will have a significant impact on the growth of the global psoriasis treatment market.
Transparency Market Research has recently published a report on the global psoriasis treatment market. It states that the market is expected to grow at a decent rate of 5.10% CAGR during 2016 to 2024. The potential players in the global psoriasis treatment market include LEO Pharma, AbbVie, AstraZeneca, Pfizer, and Biogen.
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Rise in Psoriasis Cases to Favor Growth
The overall number of cases of psoriasis has steadily increased. While the incidence of the disease is on the rise due to several factors that trigger gene mutation such as pollution and lifestyle habits. At the same time, the general awareness among the public about the disease is considered to be the larger reason for the rise in number of cases.
With internet and social media presence, healthcare organizations and governments have been able to conduct awareness campaigns that reach out to the people. As a result, people have realized the importance of early diagnosis and timely treatment for the disease. This has been one of the largest factors for growth in the global psoriasis treatment market.
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While there has been general awareness among the public, governments across the world have taken initiatives to help people suffering from these conditions, especially in the rural areas. Consistent campaigns and efforts to ensure people from the rural and deeper areas where the access to healthcare is poor, has raised the demand for products in the global psoriasis treatment market.
Favorable Healthcare System to Augment Growth in North America
Undoubtedly the developed healthcare system in North America, especially the United States, favors growth for the global psoriasis market. The regulated healthcare system coupled with organized policies that aid in diagnosing diseases and treating them on time have been of solid support to all healthcare markets. At the same time, the buzzing pharmaceutical business environment keeps the North American region sound for business. These aspects have a substantial impact on the growth of the global psoriasis treatment market.
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Besides North America, Europe and Asia Pacific will also remain important for players in the global psoriasis treatment market. Companies will be looking to explore business potential in new areas in the coming years to be able to expand and sustain in the business.
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