The global pediatric psoriasis market was valued at USD 9.76 billion in 2019 and is expected to reach USD 21.38 billion by the year 2027, at a CAGR of 10.3%. The global Pediatric psoriasis market is growing at a significant pace owing to the growing demand for therapy for diseases such as pediatric psoriasis, favorable government initiatives followed by intensive product development. The report explains the current market scenario through diagrams, pictures, charts, tables, and other pictorial representations.
Researchers in emerging economies provide the untapped potential for the market to grow during the forecast period. The childhood population has very few approved treatment options for infantile psoriasis. Furthermore, to broaden the therapeutic options, key market players are taking vital initiatives to expand their product offerings. According to the Indian Society of Pediatric Dermatology, the incidence is expected to increase with age and is reported to be nearly 0.55% in the age group of 0–9 years. Moreover, Pharmaceutical and biopharmaceutical companies anticipate high market growth in the coming future.
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Hospitals are expected to be the largest segment for the Pediatric psoriasis market during the forecast period. The growth is contributed to its wide application in hospitals and high adoption of therapeutics. Therefore to develop effective, safe medications and doses, researchers would further impact the market positively.
Key participants include AbbVie Inc.; Amgen Inc.; Johnson Johnson; Novartis AG; Eli Lilly Company; AstraZeneca; Celgene Corporation; UCB; and Merck, Boehringer Ingelheim and LEO Pharma and others.
For instance, in July 2020, FDA approved Ustekinumab for plaque psoriasis in kids. The promising drug pipeline will further propel the demand for the advanced medication in the long run. This trend is expected to propel over the forecast period as the prevalence rate has been increasing. Hence, a thorough understanding approach is required for disease management, which would certainly help manage childhood psoriasis better. However, lack of awareness in emerging economies and insufficient research funding may hamper the market.
Key Highlights from the Report
The North America Pediatric psoriasis market is anticipated to dominate the in the global market. Increasing awareness of the disease and favorable research funding scenario and government initiatives, and high medical reimbursement facilities are the major driving factors for the growth of this market.
Other factors such as increasing awareness regarding treatments coupled with snowballing prevalence in the countries like U.S will provide traction to the market. According to the International Federation of Psoriasis Association, nearly 100,000 new cases are registered and reported every year. However, associated side effects associated with the treatment is expected to hamper the market.
Based on type segment, plaque psoriasis are expected to have the largest market share among the other segments during the forecast period. This is attributed to the highest prevalence of the disease in children. Moreover, it is most common form psoriasis. According to the National Psoriasis Foundation (NPF), if a parent has psoriasis, child’s chances of developing psoriasis increases by 10%.
Radical Highlights of the Pediatric Psoriasis Market Report:
Comprehensive overview of the Pediatric Psoriasis market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and RD advancements on the Pediatric Psoriasis market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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Emergen research have segmented into the global Pediatric psoriasis market on the basis of type, treatment, end use, and region:
Type Outlook (Revenue, USD million; 2017-2027)
- Plaque psoriasis
- Guttate psoriasis
- Pustular psoriasis
- Inverse psoriasis
- Erythrodermic psoriasis
- Mucosal/oral psoriasis
- Nail psoriasis
- Napkin or diaper psoriasis
- Photosensitive psoriasis
- Flexural psoriasis
Treatment Outlook (Revenue, USD million; 2017-2027)
- Topical therapy
- Oral
- Injections
- Biologics
- Natural supplements
- Phototherapy
End Use Outlook (Revenue, USD million; 2017-2027)
- Hospitals
- Specialty Clinics
- Ambulatory Care Centers
- Research Organizations
Regional Analysis of the Pediatric Psoriasis Market:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Objectives of the Report:
Analysis and estimation of the Pediatric Psoriasis market size and share for the projected period of 2020-2027
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Pediatric Psoriasis market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
Read More: https://www.emergenresearch.com/industry-report/pediatric-psoriasis-market
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