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What Is the Current and Projected Market Size of the Skyrizi Market Through 2034?

In recent years, the size of the Skyrizi market has witnessed a XX (HCAGR) surge. Projected growth from $XX million in 2024 to $XX million in 2025, represents a Compound Annual Growth Rate (CAGR) of XX%. Factors attributing to this historical growth include an increased awareness of chronic inflammatory conditions, a surge in biosimilars, better access to global healthcare, a broader range of clinical indications, and an improvement in long-term safety data.

Expectations are high for the Skyrizi market, projecting a XX (FCAGR) growth in the coming years. It’s estimated to reach a substantial valuation of $XX million by 2029, registering a compound annual growth rate (CAGR) of XX%. This surge over the forecast period is linked to various factors such as the increased acceptance for use in psoriasis treatment, the escalating patient count, aging population, heightened awareness, enhanced diagnosing methods, and greater intake of processed food items. The forecast period will also witness major trends like technological upgrades in biologics, a transition towards combination therapies, progress in diagnostic technologies, a shift from pills to injectable medicines, and the use of artificial intelligence in drug discovery and development.

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What Are the Major Market Drivers Behind the Rising Adoption of Skyrizi Market?

The increase in psoriasis cases is predicted to propel the expansion of the Skyrizi marketplace. Psoriasis is a chronic autoimmune disease characterized by an accelerated accumulation of skin cells that results in skin scaling. This increase is tied to elements like genetic susceptibility, environmental catalysts, enhanced awareness and diagnosis rates, lifestyle modifications, and the amplifying influence of stress and immune-associated diseases on overall wellness. Skyrizi, a biological therapy that targets interleukin-23 (IL-23), is used in the treatment of psoriasis by specifically obstructing this cytokine, which is involved in inflammation, thus reducing skin inflammation, improving symptoms such as redness and scaling, and enhancing general skin clearance in people with moderate to severe plaque psoriasis. For example, figures from the National Psoriasis Foundation (NPF), an American not-for-profit organization, reported in December 2022 that about 8 million Americans and 125 million individuals worldwide, accounting for 2-3% of the global population, suffer from psoriasis. Roughly 30% of those with psoriasis also suffer from psoriatic arthritis. Consequently, the increasing incidence rate of psoriasis is stimulating the growth of the Skyrizi market.

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

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Which Areas Are Leading Regions in the Skyrizi Market Expansion Across the Globe?

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 Strategic Trends Steering the Skyrizi Market Direction?

One significant trend in the Skyrizi market involves the expansion of therapeutic indications, such as ulcerative colitis, to improve treatment results for autoimmune diseases. Skyrizi has been given approval to treat moderate-to-severe ulcerative colitis (UC), and has shown substantial clinical progress in patients unresponsive to alternative treatments. For example, in July 2024, US biopharmaceutical company AbbVie Inc. gained European Commission approval for Skyrizi (risankizumab) to treat adult patients afflicted with moderate to severe active UC, who have either not responded to, or are intolerant of, conventional or biologic therapies. This approval is founded on promising results from Phase 3 INSPIRE and COMMAND trials, especially displaying mucosal healing in patients who have not previously used biologic or JAK inhibitors. The prescribed dosage for Skyrizi is a 1,200 mg induction, followed by either 180 mg or 360 mg maintenance doses every eight weeks.

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How Is the Skyrizi Market Conceptually Defined?

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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