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How Significant is the Anticipated Growth Rate of the Siliq Market from 2025 to 2034?

The market size of Siliq has witnessed an XX (HCAGR) increment over recent times. The prediction for its growth spans from a value of $XX million in 2024 to $XX million in 2025, hence exhibiting a compound annual growth rate (CAGR) of XX%. The growth endured in the historical phase can be linked to an upsurge in the prevalence of psoriasis, a heightened total diagnosed prevalence, a rise in the worldwide prevalence of chronic HF, an increment in the incidence of skin disease, and an escalating propensity towards biologic therapies.

In the coming years, the Siliq market size is projected to witness a XX (FCAGR). The market will expand to $XX million by 2029, demonstrating a compound annual growth rate (CAGR) of XX%. The anticipated growth during the forecast period can be credited to the rising trend of online shopping among patients, enhanced demand for improved lifestyle standards, an increasing interest in combination therapies, the success rate of clinical trials and the growth of telemedicine usage. Key trends for the forecast period include advancements in delivery systems, novel products and technologies, a shift towards customized medicine, sophisticated marketing strategies using digital platforms, and the technological progression of AI-based resources.

What Industry-Specific Factors Are Fueling the Growth of the Siliq Market?

The escalating incidence of skin conditions is driving the expansion of the siliq market. Skin diseases are many and varied, touching on the structure, function, or appearance of the skin, and are often the result of infections, inflammation, genetic variables, autoimmune diseases or environmental constraints. The surge in skin disease is connected to several factors such as changes in the environment, higher levels of pollution, excessive sun exposure, genetic predispositions, and lifestyle-related aspects like unhealthy eating habits and stress. Siliq has shown effectiveness in treating skin issues, especially moderate to severe plaque psoriasis, as it works on specific immune system pathways to decrease inflammation, enhance the texture of the skin, and lessen symptoms like redness, scaling, and itching. To illustrate, in January 2024, the American Cancer Society, a US non-profit organization with a focus on eradicating cancer, projected 108,270 instances of skin cancer, showing an increase of 3.2% from the 104,930 cases reported in 2023. Consequently, the surging prevalence of skin disease is stimulating the expansion of the siliq market.

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Who Are the Dominant Players Pushing the Boundaries of the Siliq Market?

Major companies operating in the siliq market are Valeant Pharmaceuticals International Inc.

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How Are the Key Segments of the Siliq Market Driving Opportunities and Innovations?

The siliq market covered in this report is segmented –

1) By Clinical Indication: Moderate To Severe Plaque Psoriasis; Other Indications

2) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Specialty Pharmacies

3) By End-User: Hospitals; Specialty Clinics; Home Care Settings

Which Geographic Areas Are Influencing the Growth of the Siliq Market?

North America was the largest region in the siliq market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the siliq market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Core Features That Define the Siliq Market?

Siliq refers to a prescription medication used to treat moderate to severe plaque psoriasis in adults who are candidates for systemic therapy or phototherapy. The mechanism of action involves its targeting and inhibition of the IL-17A receptor. IL-17A is a pro-inflammatory cytokine that plays a crucial role in the development of inflammation in conditions like plaque psoriasis.

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