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The outbreak of COVID-19 pandemic had a negative impact on the market growth of psoriasis treatment. This can be attributed to the lockdown restrictions imposed by the governments of several nations to curtail the spread of the infection. In compliance with these restrictions, the global market for psoriasis treatment witnessed a decline as people restricted or postponed their dermatological treatments. However, the market began to revive in the latter part of 2020 with the receding pandemic. Apart from this, North America is expected to hold a significant share in the overall market growth over the forecast period. The market growth in the region is expected to be augmented by the prevalence of the disease in the region, especially in the US. In addition to this, the presence of a developed healthcare infrastructure in the region, along with the presence of an established network of pharmaceutical and biotechnology companies, and favourable government policies, are anticipated to drive the growth of the market in the region.
UCB, a leading biopharmaceutical company, recently announced that the European Commission (EC), recently granted the approval of BIMZELX in August 2021. BIMZELX (bimekizumab) is the first approved treatment in the European Union for the treatment of adults with moderate to severe plaque psoriasis. The first marketing authorisation of BIMZELX in the European region represents an expansion and dominance of UCB in the region, along with a vast opportunity for leading companies to introduce various treatments against psoriasis. Hence, such developments by leading market players are driving the growth of the psoriasis treatment industry. The market is further expected to be driven by the expansion and developments of market players like Johnson and Johnson Services Inc. (NYSE: JNJ) and Pfizer Inc. (NYSE: PFE).
Market Analysis by Drug Class, Type, Route of Administration, Distribution Channel, and Region:
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The major players in the global psoriasis treatment market are AbbVie Inc., Novartis AG, Johnson and Johnson Services, Inc., Pfizer Inc., and Merc and Co., Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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