U.S. Psoriasis Treatment Market Size, Share & COVID-19 Impact Analysis, By Drug Class (TNF Inhibitors, Interleukin Inhibitors, and Others), By Type (Plaque Psoriasis, Psoriatic Arthritis, and Others), By Route of Administration (Oral, Parenteral/Systemic, and Topical), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Country Forecast, 2023-2030

The U.S. psoriasis treatment market size was worth USD 10.32 billion in 2022 and is projected to grow at a CAGR of 7.4% during the forecast period. 

The rising prevalence of psoriasis and associated disorders among the U.S. population is one of the leading factors increasing the demand for psoriasis treatmentte. Furthermore, the availability of favorable reimbursement policies for treatment, launch of novel drugs by pharmaceutical companies, and others are augmenting the demand for psoriasis drugs.

• According to the National Psoriasis Foundation 2023 data, more than 8.0 million people in the country are suffering from psoriasis. Also, approximately 30% of people suffering from psoriasis develop psoriatic arthritis in later stages.

Further, the rising number of clinical trials to discover and launch advanced vaccines for influenza, coupled with increasing investments in R&D activities, is supporting the U.S. psoriasis treatment market growth.

The COVID-19 pandemic significantly impacted the market. The companies reported an increase in revenue owing to the stockpiling of medicines in the early days of the pandemic; however, sales declined later.

LATEST TRENDS

Rising Emphasis to Develop Biologics for Psoriasis Treatment

The management and treatment of psoriasis and related disorders witnessed a revolution after introducing biologics as a treatment regimen. Biologics specifically target distinct points in the inflammatory pathway. Further, these drugs are highly effective and are associated with fewer side effects, thus increasing their demand among patients.

To meet the rising demand for biologics among patients suffering from psoriasis, manufacturers are emphasizing on developing and launching these drugs.

• For instance, in April 2019, AbbVie Inc. received the U.S. FDA approval for risankizumab-rza, Skyrizi, an interleukin-23 (IL-23) inhibitor for treating adults suffering from plaque psoriasis.

DRIVING FACTORS

Growing Prevalence of Psoriasis and Psoriatic Arthritis to Augment Market Growth

The rising burden of the population suffering from plaque psoriasis and psoriatic arthritis is augmenting the demand for its treatment. According to various research studies, these conditions are prevalent among older people aged 65 and above. Currently, the U.S. is witnessing a surge in the geriatric population, which is expected to increase the adoption of psoriasis drugs.

• According to the data published by the World Bank Group, in 2022, an estimated 17.1% of the total U.S. population is aged 65 years and above.

Furthermore, increasing initiatives by pharma companies and government agencies to raise awareness regarding the proper management of psoriasis are propelling the demand for drugs for psoriasis treatment.

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According to an article published by the National Institute of Health (NIH) in 2021, the total prevalence of psoriasis in the U.S. is 3.0%. The prevalence was almost similar between males and females with 2.8% in males and 3.2% in females. Moreover, the prevalence of psoriasis was higher among the older population.

RESTRAINING FACTORS

Rise in Recent Product Recalls Coupled with High Treatment Cost to Impede Market Growth 

Despite the increasing investment in research & development by key players to launch novel drugs for psoriasis, recent product recalls due to hampered product quality are likely to hamper the market growth.

• For instance, in February 2023, due to manufacturing issues, Lupin recalled 5,720 tubes of topical Clobetasol propionate cream under class III from the U.S. market. The cream is used to treat skin conditions such as psoriasis, eczema, and others.

Moreover, biologic treatment for psoriasis is relatively high compared to other treatments, thus limiting their adoption. Thus, high treatment cost and product recalls are hindering the U.S. market growth.

• According to the National Psoriasis Foundation 2019 data, the annual psoriasis treatment cost using ustekinumab 45/90 mg was around USD 87,243; followed by adalimumab 40 mg USD 82,655; ixekizumab 160 mg USD 77,95; and secukinumab 300 mg USD 75,671.

SEGMENTATION

By Drug Class Analysis

Based on drug class, the market is segmented into TNF inhibitors, interleukin inhibitors, and others. The interleukin inhibitors segment is anticipated to grow at the fastest CAGR in the forthcoming years. The interleukin drug class has higher treatment persistence for psoriasis and psoriatic arthritis compared to other drug classes.

Interleukin-23 (IL-23) requires less frequent dosing and has reduced risk of complications compared to other drugs. Thus, due to various benefits, there is increasing demand among patients for interleukin drugs. Further, to cater to the rising demand, players operating in the market are developing more interleukin-based drugs for psoriasis treatment and associated complications.

• For instance, in September 2022, Boehringer Ingelheim International GmbH received the U.S. Food and Drug Administration (FDA) approval for spesolimab (SPEVIGO), an interleukin-36 receptor antibody drug for treating pustular psoriasis flares in adults.

By Type Analysis

Based on type, the market is categorized into plaque psoriasis, psoriatic arthritis, and others. Plaque psoriasis accounted for the largest U.S. psoriasis treatment market share in 2022. Plaque psoriasis is the most common type of psoriasis affecting the U.S. population.

• According to the American Academy of Dermatology, plaque psoriasis accounts for 80%-90% of cases among the U.S. population suffering from psoriasis, thus surging the demand.

Furthermore, companies are heavily investing in R&D to develop and launch novel drugs for treating mild to moderate plaque and severe plaque psoriasis. Hence, the above mentioned factors are bolstering the segment’s growth in the forthcoming years.

• In May 2022, the U.S. FDA approved VTAMA, a 1% tapinarof cream developed by Dermavant Sciences, Inc. The cream is the first and only steroid-free topical medication approved by the FDA for treating plaque psoriasis in adults.

By Route of Administration Analysis

Based on route of administration, the market is segmented into oral, parenteral/systemic, and topical. The parenteral/systemic segment held the largest share in 2022 and is projected to grow significantly during the forecast period. The rising adoption of biologics and biosimilar for effectively treating psoriasis is one of the key factors supporting the growth of the segment. Moreover, the rising approval of biologics for psoriasis treatment is bolstering market growth.

• In March 2020, Eli Lilly and Company received the supplemental Biologics License Application (sBLA) approval from the FDA for Taltz, a subcutaneous injection for treating patients suffering from severe plaque psoriasis.

By Distribution Channel Analysis

Based on distribution channel, the market is classified into hospital pharmacies, retail pharmacies, and online pharmacies. The online pharmacies segment is projected to grow at the fastest CAGR during the forecast period. The growing shift toward e-commerce platforms due to less wait time, patient convenience, availability of attractive discounts, and others is contributing to the growth of online pharmacies.    

Furthermore, drug manufacturers are collaborating with online pharmacies to launch their products and offer easy patient access, shifting patient preference toward online pharmacies, thereby augmenting segment growth.

• In June 2023, Mark Cuban’s Online Pharmacy partnered with Coherus BioSciences, Inc. to make Humira biosimilar, Yusimry, available to patients at an affordable price. The drug is indicated for treating plaque psoriasis, psoriatic arthritis, and other conditions.

KEY INDUSTRY PLAYERS

The market is highly consolidated with a few players such as Novartis AG, Abbvie, Inc., Johnson & Johnson Services, and others. The robust product portfolio, strong distribution network, and rising initiatives by these companies to expand their product portfolio are some factors contributing to their high market share.

• For instance, in January 2022, AbbVie Inc. received the U.S. FDA clearance for its interleukin-23 drug, Skyrizi, for treating adult patients suffering from active psoriatic arthritis.

Some other players, such as Eli Lilly and Company, Merck & Co., Inc., Amgen Inc., and others are also operating in the market. Rising investments to launch novel drugs and shifting focus to engage in inorganic strategies, such as mergers, acquisitions, and partnerships, are strengthening their market position.

LIST OF KEY COMPANIES PROFILED:

• AbbVie Inc. (U.S.)


• Novartis AG (Switzerland)


• Johnson & Johnson Services, Inc.(U.S.)


• Pfizer Inc. (U.S.)


• LEO Pharma A/S (Denmark)


• Merck & Co., Inc. (U.S.)


• Amgen Inc. (U.S.)


• Eli Lilly and Company (U.S.)


• Evelo Biosciences, Inc. (U.S.)


• UCB S.A. (Belgium)


• Boehringer Ingelheim International GmbH (Germany)

KEY INDUSTRY DEVELOPMENTS: 

• June 2023- Eli Lilly and Company announced a definitive agreement to acquire Dice Therapeutic, Inc. for around USD 2.40 billion. Dice Therapeutics, Inc. is developing an oral drug for patients suffering from psoriasis. Through this acquisition, the company is aiming to bolster its market presence.


• December 2021- Amgen Inc. received approval from the U.S. FDA for its first oral therapy, apremilast, under the brand name Otezla, for treating adult patients suffering from plaque psoriasis. Through this approval, the company aimed to strengthen its market presence.


• December 2021- AbbVie Inc. received FDA approval for RINVOQ (upadacitinib), intended for the treatment of patients suffering from active psoriatic arthritis.

REPORT COVERAGE

The U.S. psoriasis treatment market research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, drug class, type, and route of administration. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market in recent years.

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