The dermatology industry's psoriasis sector will continue to grow despite patent expiries for key treatments, as impressive R&D spending reinforces product pipelines, states the latest report from pharmaceutical industry analysts GBI Research.
The company's latest study* predicts the psoriasis sector's global revenue will maintain respectable growth over the next few years, climbing from a 2011 total of $4.6 billion to $6 billion in 2018, at a Compound Annual Growth Rate (CAGR) of 4%.
GBI Research attributes growth in the face of product expiries to the relatively recent release of key treatments, such as Janssen Biotech's Stelara in 2009, and several promising molecules including AIN457, tofacitinib, CF101 and anti-CD6 monoclonal antibody, which are currently in development and are expected to be launched by 2014.
Additionally, the report highlights the growing global population as a key factor determining psoriasis industry revenue - as the number of people increases, so does the amount of those with psoriasis. The prevalence of psoriasis was estimated to be 6.7 million people in 2011, but this is expected to climb at a CAGR of 0.4%, reaching 6.9 million by the end of 2018.
Due to the more physically obvious and unpleasant aspects of psoriasis, those afflicted are also more likely to seek medical help than people suffering from conditions with less obvious symptoms, and as there is currently no cure, patients must seek treatment for life.
The dermatology therapeutics market as a whole jumped from a 2004 value of $11.4 billion to $15.8 billion in 2011. By 2018, GBI Research expects this figure to reach $19.1 billion.
* Dermatology Therapeutics Market to 2018 - Novel Biologics Targeting Interleukin-17 Receptor Presents New Options in Psoriasis Treatment.
This report provides insights into the dermatology therapeutics market including market forecasts up to 2018.
The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research's team of industry experts.