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HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- The global Psoriasis Market is estimated to grow at a CAGR of 11.53% during the forecast period 2019–2025. The market is projected to grow from $30.71m in 2018 to $65.11m by 2025. Psoriasis is an autoimmune caused due to an abnormal multiplication of skin cells. This leads to skin build-up and forming of red patches covered with white scales. It usually grows on elbows, scalp, knees, lower back and parts of the body. Psoriasis can sometimes be mistaken for koebner phenomenon which is very similar to psoriasis but is caused due to linear exposure, tattoo and others. In kids, Atopic dermatitis (eczema) often caused in children is also mistaken for symptoms of psoriasis.

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Key Takeaways

1. In the coming years, growing interest in Psoriasis drugs is due to the rising prevalence of the medical condition. The current lifestyle also adds to the cause.

2. The product launch was a key sustainability strategy adopted by the market players to ensure the growth of the Psoriasis Market.

3. North America region dominated the Psoriasis Market for the year.

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Segment Analysis

1. Plaque Psoriasis segment dominated the Psoriasis Market in terms of revenue. Plaque Psoriasis is the most common form of psoriasis. Plaque psoriasis results in dry, elevated, red skin plaques concealed with white scales. The plaques that form turn out to be itchy or painful.

2. Tumor Necrosis Factor (TNF) Inhibitors segment dominated the Psoriasis Market in terms of revenue. It is forecast to grow at a CAGR of 5.87% during the period under consideration. TNF Inhibitor is a prescription drug that reduces inflammation by suppressing the tumour necrosis factor that is responsible for inflammatory response. In the coming years, Interleukin Inhibitors are expected to dominate the market due to their fewer side effects and enhanced ingredients. Cyclosporine is a promising medication that decelerates skin cell growth and helps in reducing cell buildup.

3. The Injectable route of application segment dominated the Psoriasis Market in 2018. TNF inhibitors are generally injected into the bloodstream which aids the growth of the injectable route of the application segment. The oral route of application is expected to be a fast-growing segment in the coming years.

4. The North America region occupied 42% of the global Psoriasis Market in terms of revenue. The World Health Organization recorded that in the U.S., approximately 7.5 million diagnosed every year and there are about 150,000 new cases every year. APAC region is estimated to record the fastest growth rate during the forecast period.

Competitive Landscape:

The top 5 players in the Psoriasis Market Industry are -

1. UCB
2. Novartis AG
3. Merck
4. Johnson & Johnson
5. Eli Lilly & Company

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A. Psoriatic Arthritis Market
https://www.industryarc.com/Research/Psoriatic-Arthritis-Market-Research-508284

B. Dermatologicals Market
https://www.industryarc.com/Report/19647/dermatologicals-market.html

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