Plaque Psoriasis Market Trends

Market Driver - Rising Awareness of Plaque Psoriasis and its Treatment Options

As more light continues to shine on plaque psoriasis, patients are becoming increasingly aware of their condition and the avenues available for effective management. Recognition events like Psoriasis Awareness Day spread global attention to the fact that plaque psoriasis is much more than mere skin deep. Personal testimony by prominent public personalities battling the condition has also lifted the proverbial veil of secrecy.

With augmented recognition of plaque psoriasis being a life-long condition requiring continuous care, adherence to doctor prescribed treatments improves overall. The digital health revolution complements traditional awareness initiatives.

People explore web resources to fact check their symptoms, gain a richer understanding of pathology and stay abreast of latest therapeutic innovations. Online communities give individuals access to a supportive network sharing lived experiences. Telemedicine consultations further facilitate convenient participation in the decision-making process regarding care options.

Market Driver - Increasing Investment in Research and Development for New Therapies

Major biopharmaceutical players and startups alike recognize the commercial potential in a market crying out for novel solutions to plaque psoriasis management. Given prominent unmet needs persist despite existing treatment armamentarium, significant capital is being poured into the research and development pipeline.

Much of this investment targets advancing understanding of molecular pathways underlying chronic inflammation and aberrant skin cell turnover in plaque psoriasis. With a better grasp of disease pathogenesis, more targeted drug candidates can be designed.

Combination therapies marrying established drugs with newer entities also present an attractive avenue to enhance efficacy and tolerance profiles. Life cycle management of top selling biologics through additional formulations, convenient delivery methods and tailored therapeutic protocols aims at improving patient adherence and outcomes over the long term.

Bolstered by the success of breakthrough first-in-class approvals in recent history, venture capitalists display confidence in the viability and commercial feasibility of novel mechanisms for treatment. Notable acquisitions and large collaborations signal big pharma's affirmation of new drug pipelines being built at biotechs. Such deals promise accelerated development in the plaque psoriasis market.

Market Challenge - High Cost of Biologics and Other Advanced Treatments

One of the major challenges plaguing the plaque psoriasis market is the high cost of biologics and advanced treatment options available for patients. Biologics such as anti-TNF inhibitors, IL inhibitors and other novel targets provide highly effective treatment options compared to traditional systemic therapies.

However, the development and production costs associated with biologics drives up the list prices and out-of-pocket costs for patients. The average annual cost of biologic therapy ranges anywhere between $30,000 to $100,000 depending on the drug.

Additionally, the required lifelong treatment with biologics also poses continued financial burden. This makes advanced therapies inaccessible for many patients and shifts them to conventional systemic drugs which are relatively less efficacious. The issues of affordability act as a barrier for patients to seek and adhere to optimal treatment regimens.

It also restricts the overall market growth potential for innovative biologics. Unless measures are taken to make these vital drugs more affordable, high treatment costs will continue to negatively impact both patients and the plaque psoriasis market.

Market Opportunity - Development of New Biologics and Personalized Medicine

One of the major opportunities for future growth in the market lies in development of new biologic compounds with novel mechanisms and personalized treatment approaches. Currently, the biologics in plaque psoriasis market is dominated by anti-TNF and anti-IL therapies.

However, newer biologics targeting additional pathways such as IL-17, IL-23 and IL-22 are emerging in the pipeline. These new molecular entities hold promise to address unmet needs of patients who are partial or non-responders to existing therapies.

At the same time, advancements are being made in the field of pharmacogenomics and predictive biomarkers to aid patient selection for optimal therapies. This shift towards personalized medicine will help maximize treatment effectiveness while minimizing trial-and-error based prescribing.

It will also improve real-world outcomes and patients' quality of life, thereby expanding the addressable scope in plaque psoriasis market over the long run. The next decade is expected to witness continuous approval of personalized medicine supported pipeline drugs, bolstering overall prospects for players.