Germany Psoriasis Treatment Market Outlook

germany is a major hub for psoriasis treatment in europe. according to a 2018 report by mordor intelligence, the country held the second largest market share in europe, accounting for a total of 19.4% of the global psoriasis skin therapy market. in terms of market value, the report estimated that the market was valued at usd 441.5 million in 2017, with a strong cagr of 8.2%. with the surge in demand for psoriasis treatments over the past decade, germany has become a leading force within the global market. the country is expected to continue to attract a large amount of investment, in both research and product development over the coming years. an increasing number of treatment options are available today, with both conventional topical treatments and the more sophisticated biologics dominating the market. a wide range of topical treatments are available as over-the-counter and prescription products, including ointments, creams, gels, lotions, sprays and foam. germany is also one of the leading countries in europe for the development and approval of biologics, which have been approved for long-term use in cases resistant to topical and systemic treatments. the growing prevalence of psoriasis, combined with the availability of more effective treatments, is expected to drive the demand for psoriasis treatment in germany over the forecast period. according to an analysis published in 2018, the prevalence of psoriasis in germany was 2.8%, with no gender difference seen, and is estimated to increase further by 2032. in addition, there is a growing focus on early diagnosis which is further expected to propel the market. currently, the cost of therapies in germany is covered by the national health insurance system, which ensures the availability of psoriasis treatments at affordable prices in the country. this is likely to drive the demand for psoriasis treatments over the next decade. moreover, the increasing availability of therapies and increasing awareness about psoriasis is expected to have a positive impact on the market. while the german psoriasis treatment market is expected to grow over the forecast period, rising competition from international companies is anticipated to present a key challenge for domestic manufacturers. in order to overcome this challenge, drug developers are likely to focus on developing customized treatments for different kinds of psoriasis. additionally, the introduction of innovative treatments such as photosensitive and photodynamic therapies are expected to increase the appeal of these treatments and contribute to market growth.