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. Considering the factors such as considering the physical development and rate of cutaneous absorption, treating a child with psoriasis has been a huge challenge. With the advent of technology, research has contributed significantly to the various development of treatment for the disease across the globe. Psoriasis is a life-long devitalizing disease that has a significant impact both emotionally and physically including other aspects of life of children.
The research report provides an in-depth evaluation of the Global Pediatric Psoriasis market drivers and restraints Market and helps the market participants intensify their footprints in the industry. The report gives a detailed analysis concentrated on the critical market dynamics such as drivers, restraints, trends, and growth opportunities to assist businesses to prepare for any challenges they might encounter in the forecast period.
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. 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.
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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%.
- The market is widely driven by increasing demand for therapies. Moreover, the understanding about the disease and therapeutic has expanded greatly owing to the increased demand of therapy in the near future. For instance, childhood psoriasis has a better prognosis as compared to adult onset psoriasis.
- The topical therapy is expected to have significant market share during the forecast period. Over the period with extensive research, the awareness about the disease and the existing treatment has risen up significantly. The research has contributed to a number of development which will further impact the market. For instance, in July 2020, FDA approves Ustekinumab for plaque psoriasis in kids.
- Napkin or diaper psoriasis is expected to have significant CAGR during the forecast period. European regional market is the prominent revenue generating source for this treatment segment owing to the presence of market leaders in the region. About one third of the 14 million cases in Europe, psoriasis begins in childhood.
- 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.
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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
- Natural supplements
End Use Outlook (Revenue, USD million; 2017-2027)
- Specialty Clinics
- Ambulatory Care Centers
- Research Organizations
Regional Outlook (Revenue, USD million; 2017-2027)
- North America
- Rest of the Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East Africa
- Latin America
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