(PharmaNewsWire.Com, December 01, 2017 ) According to the report Middle East and Africa Psoriasis Drugs Market, published by Market Data Forecast, the market is projected to reach USD 500 million by 2021, at a CAGR of 7.24% from 2016 to 2021.
Psoriasis is an inflammatory skin condition that changes the life cycle of skin cells by enhancing the growth of cells on the skin surface. Rapid cell production causes thick, silver scales, and makes the skin red, dry, flaky, and itchy. As of now, no permanent solution is available for the disease, but preventive measures can be taken to reduce 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 are used either by applying on the skin, or consumed orally, or through infusions to block parts of immune system by specifically targeting Tumour Necrosis Factor (TNF), Phosphodiesterase Type 4 (PDE4), Interleukin, among others. Psoriasis is of less extent in Middle East & Africa as compared to North America and Europe.
Middle East and Africa Psoriasis Drugs Market: Drivers and Restraints Increase in healthcare expenditure, increased R&D activities to provide solution for psoriasis, increase in new and efficient drug launches and increase in demand of psoriasis medicines in emerging economies are the major factors driving the psoriasis drug market. The chance of reoccurrence of the disease requires for long term treatment and thus increasing sales. Expected entry of late-stage pipeline products is anticipated to accelerate the growth of the product. The key restraints of the market are high drug development costs, patent expiry of branded drugs, increasing availability of generic products, side effects from the systemic and topical medication.
Middle East and Africa Psoriasis Drugs Market: Overview Vulgaris, guttate, inverse, pustular, palmoplantar, erythrodermic, nail, and scalp psoriasis are various type of psoriasis that are commonly caused. According to International Federation of Psoriasis Association, approximately 3% or more than 125 million of the world’s population are living with psoriasis. Additionally, approximately 10% of the population has severe form of psoriasis, among diagnosed population, and 90% of the people fall under moderate to mild category of psoriasis. Psoriasis also occurs in people having a family history of skin and joint diseases. Also, people suffering from psoriasis have a high chance of developing psoriatic arthritis.
All the above factors show a huge population base for the expansion of psoriasis drugs market. Lack of awareness among people of backward countries and unavailability of proper diagnosis are the major factors restraining the market.
Middle East and Africa Psoriasis Drugs Market: Region-wise Outlook On the basis of geography, psoriasis drugs market is segmented into Middle East and Africa. This region provides a huge consumer base for psoriasis drugs manufacturers to expand into. However, Lack of proper awareness among people and prevalence of psoriasis being somewhat less in this region compared to other regions are the major restraining factors.
Key Questions Answered: ● What is the current and future psoriasis drugs Market outlook in Middle East and Africa? What trends are affecting the Middle East and Africa market? ● What is the competitive landscape and market share of major players in the psoriasis drugs in Middle East and Africa? ● What are the key, high growth markets that psoriasis drugs manufacturers should expand into? Which market segments are growing the fastest? ● What are the unmet needs with the psoriasis drugs currently on the market? How will emerging technologies fulfill these unmet needs? ● What is physician perception and market outlook of psoriasis drugs? ● What are the challenges and barriers that have hindered widespread adoption of psoriasis drugs?
Middle East and Africa Psoriasis Drugs Market: Key Players The major companies dominating Middle East & Africa 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).
Reasons to buy Middle East and Africa Psoriasis Drugs Market report: ● Regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering ● Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail ● Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics ● Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses ● A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment ● Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies ● Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
About Market Data Forecast: Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. From all-encompassing umbrella markets to extremely specific niche markets covering all the major regions across the globe as part of the research scope, their research services offer one of a kind specialities with competitive pricing options. For more information, kindly visit, www.marketdataforecast.com.
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