(PharmaNewsWire.Com, December 01, 2017 ) The Latin America Psoriasis Drugs Market is expected to reach USD 0.9 billion by 2021 from USD 0.6 billion in 2016, growing at a CAGR of 7.41% during the forecast period 2016-2021. Psoriasis is noncommunicable inflammatory skin condition that alter the life cycle of skin cells by speeding up the growth of cells on the surface of the skin. Rapid development of cells produces thick, silver scales, and makes the skin red, dry, flaky, and itchy. Currently, no permanent cure is available for the disease, however preventative measures can be adopted to slow down the growth of skin cells on the surface of the skin. Psoriasis can be treated either with pharmaceuticals or biopharmaceuticals therapies through topical and systemic process. These medications administered either by applying on the skin, or consumed orally, or through injections specifically block parts of immune system process by specifically targeting Tumour Necrosis Factor, Phosphodiesterase Type 4, Interleukin, among others. Within Latin America, Brazil, Mexico, and Argentina have most lucrative prospects for the product. The sale for Adalimumab (Humira) in Brazil spiked in recent years and is expected to grow during the forecast period.
The growth of Psoriasis Drugs market is majorly driven by factors such as increasing public awareness, emergence of new treatment, and expected entry of new therapeutic option in coming years. The key restraints of the market are high cost involved in drug development, patent expiry of brand name drugs, and lack of regulatory framework.
The Latin America Psoriasis Drugs Market is segmented on the basis of Drug Type, Route of Administration, and Target. Based on Drug Type, the market is classified into Pharmaceuticals and Biopharmaceuticals. On the basis of Route of Administration, the market is classified into Topical and Systemic (Oral, Intravenous, and Others). On the basis of Target, the market is classified into Tumour Necrosis Factor (TNF), Phosphodiesterase Type 4 (PDE4), Interleukin, and Others
The Latin America market is geographically segmented into Brazil, Argentina, Mexico and rest of Latin America.
The major companies dominating the Latin America Psoriasis Drugs Market are Johnson & Johnson (USA), Novartis International AG (Switzerland), Pfizer Inc (USA), Merck and Co. Inc (USA), Celgene Corporation (USA), Janssen Biotech Inc (USA), Stiefel Laboratories Inc (USA), Takeda Pharmaceutical Company Limited (Japan), Amgen (USA), and AbbVie (USA).
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