The Psoriasis Biosimilars Market Size is valued at USD 8.5 billion in 2023 and is predicted to reach USD 19.3 billion by the year 2031 at a 10.9% CAGR during the forecast period for 2024-2031.
Biosimilars for psoriasis are economically viable substitutes for original biologics employed in the management of moderate to severe psoriasis. These medications closely mimic the original biologics, such as Humira, Enbrel, and Remicade, targeting immunological pathways to diminish inflammation and manage symptoms. Biosimilars provide accessibility to effective psoriasis treatments and undergo stringent testing for safety and efficacy.
The increasing number of people affected by psoriasis globally and the need for more reasonably priced treatment alternatives are the main factors driving the psoriasis biosimilars market's expansion. The affordability of biosimilars is another important factor. A larger patient population may now afford therapy thanks to biosimilars, which provide an inexpensive substitute for biologic medications as healthcare systems throughout the globe struggle with growing treatment costs. Further encouraging acceptance and adoption is the increasing knowledge of patients and medical professionals regarding the effectiveness of biosimilars.
Competitive Landscape
Some Major Key Players In The Psoriasis Biosimilars Market:
- Merck KGaA
- Coherus BioSciences
- Gyros Protein Technologies AB
- Fresenius Kabi
- Viatris
- Amgen Inc
- Samsung Bioepis Co., Ltd.
- Hoffmann-La Roche Ltd
- Celltrion
- Pfizer Inc.
- Samsung Bioepis
- Sandoz
- Novartis International AG
- Reddy's Laboratories
- GenScript
- Other Market Players
Market Segmentation:
The psoriasis biosimilar market is segmented based on drug class, route of administration, indication, and distribution channel. Based on drug class, the market is segmented into TNF-alpha inhibitors (infliximab, etanercept, adalimumab) and other biosimilars. As per the route of administration, the market is segmented into subcutaneous, intravenous, oral, and topical. By indication, the market is segmented into plaque psoriasis, psoriatic arthritis, and other types. The distribution channel segment is categorised into hospital pharmacies, retail pharmacy chains and online pharmacies.
Based On The Indication, The Plaque Psoriasis Segment Accounts For A Major Contributor To The Psoriasis Biosimilar Market.
The plaque psoriasis category is expected to hold a major global market share. The need for effective and reasonably priced treatments has arisen from the chronic nature of plaque psoriasis and its detrimental effects on quality of life. Targeting particular pathways of the inflammatory process, biologics have shown promise in the treatment of moderate to severe plaque psoriasis. Yet, many patients are unable to afford the expensive therapies made from original biological processes, which presents a great opportunity for biosimilars. Biosimilars are very desirable to patients and healthcare professionals alike because they have profiles of efficacy and safety that are comparable to those of reference biologics but at significantly lower costs.
Retail Pharmacies Segment To Witnessed A Rapid Growth.
Retail pharmacies are typically found in very big businesses that span several cities or rural areas. This eliminates the need for the psoriasis sufferer to drive a great distance in order to obtain their biosimilar medication, which would be problematic for most of them as they depend on their meds frequently. Extended hours and easily accessible places are examples of convenience factors. Better prescription management results from this, and walk-in services are advantageous when managing a chronic ailment such as psoriasis, which frequently necessitates ongoing care.
In The Region, The North American Psoriasis Biosimilar Market Holds A Significant Revenue Share.
The North American psoriasis biosimilar market is expected to capture a significant part of market revenue. North America possesses a formidable infrastructure for biotechnology research and development due to its vigorous pharmaceutical innovation. Moreover, the Asia Pacific region exhibited a significant market share. Contemporary technologies are employed in the advancement of biosimilars due to the region's significance in the biopharmaceutical sector. The prevalence in the population underscores the necessity for effective treatment, with biosimilars assuming a notably important role in the control of severe diseases.
Recent Developments:
- In July 2023, Coherus introduced YUSIMRY™, a biosimilar of Humira®, priced at $995 per carton in the United States. YUSIMRY, sanctioned by the United States Food and Drug Administration (FDA) in 2021, is a tumour necrosis factor (TNF) inhibitor indicated for alleviating the signs and symptoms of rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, and ankylosing spondylitis, as well as for the treatment of Crohn's disease, ulcerative colitis, plaque psoriasis, and hidradenitis suppurativa.
Psoriasis Biosimilars Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 8.5 Bn |
|
Revenue Forecast In 2031 |
USD 19.3 Bn |
|
Growth Rate CAGR |
CAGR of 10.9% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million 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 Drug Class, Route Of Administration, Indication, And Distribution Channel |
|
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; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Merck KGaA, Coherus BioSciences, Gyros Protein Technologies AB, Fresenius Kabi, Viatris, Amgen Inc, Samsung Bioepis Co., Ltd., Hoffmann-La Roche Ltd, Celltrion, Pfizer Inc., Samsung Bioepis, Sandoz, Novartis International AG, Reddy's Laboratories, and GenScript. |
|
Customization Scope |
Free customization report with the procurement of the report and 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. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
