Asia-Pacific psoriasis therapeutics market to reach $1.9 billion by 2024, says GBI Research

The Asia-Pacific (APAC) psoriasis therapeutics market, which includes India, China, Australia, South Korea and Japan, is set to grow from $933.1m in 2017 to $1,997.3m in 2024, at a compound annual growth rate (CAGR) of 11.5%, according to business intelligence provider GBI Research.

The company’s latest report states that the prevalence of psoriasis is expected to increase significantly across the APAC markets mainly due to alterations in lifestyle and environmental and genetic factors. The rising prevalence population, better medical facilities, improving awareness of the disease, and increasing health insurance coverage and affordability will increase diagnosis and the treatment-receiving population, driving demand and contributing to market growth.

Ramya Maddineni, analyst for GBI Research, says that the psoriasis market is facing increasing competitive pressure from a wave of novel biologic launches, including IL-17 and IL-23 inhibitor therapies.

Several treatments are available to help control psoriasis, including topical therapies (such as topical corticosteroids and vitamin D analogues), systemic therapies (such as methotrexate, cyclosporin and acitretin) and biologic therapies. The number of treatments available for psoriasis has increased rapidly. Recent research has led to the discovery of new immunological factors and better understanding of psoriasis and created new biological drugs against specific immunological elements that cause psoriasis.

Ramya continues: “The newest biologics for treatment of moderate-to-severe plaque psoriasis are IL-17 and IL-23 inhibitor therapies, which have shown superior efficacy in complete skin clearance compared to older biologics”.

Humira, Enbrel and Remicade, which are potential TNF inhibitors and have the largest shares in the psoriasis market globally, are expected to see their market shares decrease in the APAC region due to the launch of highly effective IL-17 and IL-23 inhibitors. The rising adoption of IL-inhibitor therapy among patients and greater acceptance of biosimilars, especially in India and China, will contribute to the decline of TNF-inhibitors.

Ramya adds that promising late-stage pipeline drugs, such as Sun Pharma’s tildrakizumab, AbbVie’s risankizumab, Welichem Biotech’s tapinarof and UCB’s bimekizumab and certolizumab pegol, have the potential to achieve approval and launch during the forecast period. The launch of these drugs would contribute to overall market growth.

The late-stage pipeline molecules tildrakizumab and risankizumab, which both directly target IL-23, will compete with first-in-class IL-23 inhibitor Tremfya, as they act on the same target. AbbVie’s risankizumab is as efficacious as Tremfya but has a less frequent dosing regimen. It is injected every 12 weeks after two initial doses. Tremfya has an eight-week dosing regimen. GBI Research believes that risankizumab and Tremfya will compete for best-in-class status, as both IL-23 drugs deliver high efficacy for moderate-to-severe psoriasis patients.

Information based on the GBI Research report: Psoriasis Therapeutics in Asia-Pacific Markets to 2024: Increasing Prevalence, Advent of Novel Biologics and Pipeline Drugs to Drive the Market

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