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What is the Future CAGR of the Skyrizi Market, and How Will It Impact Industry Expansion?

Recent years have seen the Skyrizi market size expanding by XX (HCAGR). This growth is expected to continue, with the market size poised to grow from $XX million in 2024 to $XX million in 2025, representing a Compound Annual Growth Rate (CAGR) of XX%. The previous growth can be attributed to increased awareness about chronic inflammatory conditions, an influx of biosimilars, enhanced accessibility to healthcare on a global scale, widening of clinical indications, and accumulation of more long-term safety data.

Expectations are that the market size of Skyrizi will witness a forecasted compound annual growth rate (FCAGR) of XX% in the coming years, expanding to reach a value of $XX million by 2029. Several factors contributing to the growth during the forecast period include its increased use in psoriasis treatments, a rise in the patient count, an aging population, heightened awareness and improved diagnosis methods, and a surge in processed food consumption. The forecast period also expects to see notable trends such as technological leaps in biologics, a preference for combination therapies, advancements in diagnostic technologies, a transition from oral to injectable treatments, and the use of artificial intelligence in drug development.

What External and Internal Drivers Are Contributing to the Growth of the Skyrizi Market’s Growth?

The escalating incidence of psoriasis is anticipated to bolster the expansion of the skyrizi market. Psoriasis is a persistent autoimmune disorder that leads to a swift accumulation of skin cells, resulting in scaling on the skin’s surface. The growing incidence of psoriasis can be connected to elements such as genetic susceptibility, environmental catalysts, increasing consciousness and diagnosis rates, modifications in lifestyle, and the growing influence of stress and immune-related diseases on overall health. Skyrizi, a biologic therapy aimed at interleukin-23 (IL-23), assists in the treatment of psoriasis by specifically blocking this cytokine, that holds a crucial role in the inflammation process, consequently decreasing skin inflammation, mitigating symptoms like redness and scaling, and enhancing overall skin clearance in patients suffering from moderate to severe plaque psoriasis. For instance, as per the National Psoriasis Foundation (NPF), a non-profit organization based in the US, in December 2022, approximately 8 million Americans and 125 million people worldwide (2-3% of the global population) are estimated to have psoriasis. Roughly 30% of individuals with psoriasis also develop psoriatic arthritis. As such, the escalating incidence of psoriasis propels the growth of the skyrizi market.

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What Are the Top Market Players Propelling the Growth of the Skyrizi Industry?

Major companies operating in the skyrizi market are AbbVie Inc.

What Are the Key Trends to Watch in the Skyrizi Market Over the Coming Years?

One primary progression in the Skyrizi market involves targeting the enlargement of therapeutic symptoms such as ulcerative colitis in order to amplify outcomes of therapy for autoimmune illnesses. Skyrizi has received approval for the treatment of moderate-to-severe ulcerative colitis (UC) conditions, demonstrating considerable clinical enhancements amongst patients not positively affected by other medical treatments. For instance, in July 2024, the European Commission granted approval to AbbVie Inc., a biopharmaceutical firm based in the USA, for utilizing Skyrizi (risankizumab) for the treatment of adult patients suffering from moderately to severely active UC and who have proven resistant or intolerant to conventional or biologic therapies. The sanction is grounded on affirmative outcomes from the Phase 3 INSPIRE and COMMAND trials, particularly indicating mucosal recovery in patients without prior biologics or usage of JAK inhibitor. The prescription for Skyrizi constitutes a 1,200 mg initiation followed by either 180 mg or 360 mg maintenance dosages every 8 weeks.

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Which Key Market Segments Comprise the Skyrizi Market and Drive Its Revenue Growth?

The skyrizi market covered in this report is segmented –

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

What Regions Are Dominating the Skyrizi Market Growth?

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

What Are the Key Characteristics That Define the Skyrizi Market?

Skyrizi refers to a prescription medication used to treat certain autoimmune conditions, including moderate to severe plaque psoriasis, active psoriatic arthritis, and Crohn’s disease, by reducing inflammation in the body. The mechanism of action of skyrizi (risankizumab-rzaa) involves selectively targeting and inhibiting interleukin-23 (IL-23), a protein that plays a key role in inflammatory and immune responses.

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