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The Pediatric Psoriasis Market Size is valued at 13.32 Billion in 2023 and is predicted to reach 33.82 Billion by the year 2031 at a 12.57 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The expanding field of pediatric dermatology and the recognition of the unique challenges in treating skin conditions in children contribute to the development of specialized treatments, driving market growth.
- The challenge lies in developing effective and safe treatments suitable for the pediatric population.
- The pediatric segment is expected to account for the largest share of the global pediatric psoriasis market.
- North America dominated the largest market share in 2023.
Pediatric psoriasis, also known as childhood psoriasis, typically manifests as minor to moderate manifestations and is treatable with treatment. Pediatric psoriasis typically manifests as red, dry, and itchy skin patches, frequent pain, bleeding, and a variety of nail alterations, such as thick, pitted fingernails and nail yellowing. The global pediatric psoriasis market is anticipated to continue growing in revenue due to an increase in regulatory approvals for new and more potent psoriasis medications and treatments. The market has tremendous growth potential that investigators in developing nations have identified. Infantile psoriasis has a relatively limited number of approved therapeutic choices for the pediatric population.
Furthermore, major market competitors are making crucial efforts to diversify their product offerings to increase treatment options. Expanding government endeavors in pediatric psoriasis, rising R&D leading to the release of new medications, improved experience of rare diseases, and cost-effective therapy approaches are the factors driving the market during the projection period. Insufficient data in developing countries and limited funding for research may hinder the market. The market's overall growth is likely constrained by factors including the high cost of pediatric pediatric psoriasis therapies and the availability of resources. Additionally, major market competitors are making crucial efforts to diversify their product offerings to increase treatment options.
Competitive Landscape
Some Major Key Players In The Pediatric Psoriasis Market:
- AbbVie Inc.
- Amgen Inc
- Johnson & Johnson
- Novartis AG
- Eli Lilly & Company
- AstraZeneca
- Celgene Corporation
- UCB
- Merck
- Boehringer Ingelheim
- LEO Pharma
- Other Prominent Players
Market Segmentation:
The pediatric psoriasis market is segmented based on type, treatment, and end users. Based on type, the market is segmented as plaque psoriasis, guttate psoriasis, pustular psoriasis, inverse psoriasis, erythrodermic psoriasis, mucosal/oral psoriasis, nail psoriasis, napkin or diaper psoriasis, photosensitive psoriasis, flexural psoriasis. By application, the market is segmented into topical therapy, oral injections, biologics, natural supplements, and phototherapy. By end users, the market is segmented as hospitals, specialty clinics, ambulatory care centers, and research organizations.
Based On Type, The Plaque Psoriasis Segment Is Accounted As A Major Contributor To The Pediatric Psoriasis Treatment Market.
The plaque psoriasis sector is anticipated to have the biggest market share over the projection period. This is explained by the fact that children have the highest disease incidence. It is also the most prevalent type of psoriasis. These plaques appear most frequently on the knees, scalp, and elbows. These, though, can also be found in other bodily areas. These can hemorrhage and are unpleasant, irritating, and uncomfortable. It is unclear what specifically causes plaque psoriasis.
The Hospital's Segment Witnessed Growth At A Rapid Rate.
The hospital segment is projected to grow at a rapid rate in the global pediatric psoriasis market. The increased adoption of therapies and widespread hospital use contribute to the growth. Therefore, researchers would have a favorable market impact by developing potent, secure drugs and dosages. One of the main drivers of this segment's revenue growth is the rise in pediatric psoriasis instances that are severe, the rate of hospital admissions, and the quick acceptance of safer and more effective medications and therapies., especially in countries such as the US, Germany, UK, China, and India.
The North American Pediatric Psoriasis Market Holds A Significant Regional Revenue Share.
The North American pediatric psoriasis market is expected to register the highest market share in revenue soon. Due to the rising prevalence of the condition, North America now controls the plaque psoriasis market. Additionally, a potent drug pipeline in the region would help the pediatric psoriasis market throughout the projection period.
Asia Pacific region is estimated to hold a significant share of the market. The pediatric psoriasis market is anticipated to experience considerable expansion in Asia-Pacific because of the rise in research investment. Moreover, the region's plaque psoriasis market is anticipated to rise over the next several years because of growing public awareness of the condition.
Recent Developments:
- In March 2024, Amgen has recently disclosed the 52-week results of the Phase 3 SPROUT study, which investigated the efficacy of Apremilast (Otezla®) in children and adolescents with moderate to serious plaque psoriasis aged 6 to 17 years. These results, in addition to those from a Phase 3 late-breaking study on Otezla for palmoplantar pustulosis, will be presented at the 2024 Annual Meeting of the AAD i.e. American Academy of Dermatology, which will be held in San Diego from March 8-12.
- In June 2021, The FDA approved Novartis Cosentyx for the management of mild to serious plaque psoriasis in children and adolescents. Plaque psoriasis, an inflammatory chronic disease, had the potential to affect approximately 350,000 children globally, with adolescence being the most prevalent age of onset.
Pediatric Psoriasis Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 13.32 Billion |
|
Revenue Forecast In 2031 |
USD 33.82 Billion |
|
Growth Rate CAGR |
CAGR of 12.57 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, Treatment, End-Use |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
AbbVie Inc., Amgen Inc, Johnson & Johnson, Novartis AG, Eli Lilly & Company, AstraZeneca, Celgene Corporation, UCB, Merck, Boehringer Ingelheim, LEO Pharma, Other Prominent Players. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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