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LONDON, GREATER LONDON, UNITED KINGDOM, February 6, 2025 /EINPresswire.com/ -- What Are The Key Findings on the Historic Growth Rate of Skyrizi Market?
The Skyrizi market has witnessed substantial growth in recent years, growing from $XX million in 2024 to $XX million in 2025, showing a compound annual growth rate CAGR of XX%. The growth during the historic period can primarily be attributed to a rise in awareness of chronic inflammatory conditions, an increase in biosimilars, expansion in global healthcare access, expansion of clinical indications, and the strengthening of long-term safety data.
What are the Forecasted Trends for Skyrizi Global Market?
The forecast period paints a promising picture for the Skyrizi market, which is expected to see a rise of XX FCAGR in the next few years. The market, valued at $XX million in 2024, is projected to grow to $XX million in 2029 with an impressive compound annual growth rate CAGR of XX%. The expansion in the forecast period can be largely credited to growing adoption in psoriasis treatment, increasing patient numbers, a growing geriatric population, increasing awareness, improved diagnosis, and increased consumption of processed foods. Technological innovations in biologics, a shift towards combination therapies, advancements in diagnostic technologies, a trend from oral to injectable treatments, and artificial intelligence for drug development are likely to be major trends.
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How Does the Rising Prevalence of Psoriasis Impact the Skyrizi Market Growth?
Fueling the growth of the Skyrizi market is the rising prevalence of psoriasis, a chronic autoimmune condition causing a rapid buildup of skin cells, resulting in scaling on the skin surface. Factors such as genetic predisposition, environmental triggers, increasing awareness, improved diagnosis rates, lifestyle modifications, and the growing impact of stress and immune-related disorders on overall health attribute to the increasing prevalence of psoriasis. Innovatively, Skyrizi, a biologic therapy targets interleukin-23 IL-23, strategically blocking the cytokine that plays a key role in the inflammatory process, reducing skin inflammation, easing symptoms like redness and scaling, and enhancing overall skin clearance in patients with moderate to severe plaque psoriasis.
What Are The Major Industry Players in The Skyrizi Global Market?
AbbVie Inc. is a significant industry player operating in the Skyrizi market. Their prominence in the market space is attributed to their strategic moves and advancements in the field.
What are the Emerging Trends in The Skyrizi Global Market?
Significant trends emerging in the Skyrizi Market include expanding therapeutic indications such as ulcerative colitis to enhance treatment outcomes for autoimmune diseases. For instance, Skyrizi, approved for treating moderate-to-severe ulcerative colitis UC, shows substantial clinical improvements in patients who have not responded to other treatments.
The Skyrizi Global Market Segmentation:
Segments in this market include:
1 By Indication: Plaque Psoriasis; Crohn's Disease; Ulcerative Colitis
2 By Formulation: Pre-Filled Syringes; Vials
3 By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
Regional Insights: North America Dominates the Skyrizi Market
In 2024, North America emerged as the largest region in the Skyrizi market and is expected to continue being the fastest-growing region in the forecast period. Other regions covered in this market report include Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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