Psoriatic Arthritis Treatment Market

Psoriatic Arthritis Treatment Market Overview:

The psoriatic arthritis treatment market size was valued at $7,860 million in 2018, and is estimated to reach at $13,744 million by 2026, registering a CAGR of 7.2% from 2019 to 2026. 

Psoriatic arthritis is an inflammatory joint disease associated with psoriasis, which is categorized within the group of spondyloarthritis. It affects both the skin and musculoskeletal system. It is caused due to genetic and environmental factors. Swollen toes, fingers, and tender joints, lowered back pain, pitted nails, and stiffness are prevalent symptoms of psoriatic arthritis. Diagnosis of psoriatic arthritis is done by tests such as joint fluid test, X-ray, rheumatoid factor (RF), and magnetic resonance imaging (MRI). Psoriatic arthritis can be treated with drug class such as NSAIDs, disease-modifying antirheumatic drugs (DMARDs), biologics, and immunosuppressant drugs.

Rise in biological and biosimilar therapies, increase in prevalence of psoriatic arthritis, surge in R&D activities to develop novel drugs for the treatment of psoriatic arthritis, rise in demand for psoriatic arthritis treatment products, surge in geriatric population, strong pipeline of biosimilar & biologic products, and rise in awareness toward psoriatic arthritis treatment are the major factors that drive the growth of the global psoriatic arthritis treatment market. In addition, increase in adoption of psoriatic arthritis treatment drugs, presence of large patient pool, availability of patient assistance programs, and rise in healthcare expenditure are other factors that contribute toward the growth of the market. However, high cost of treatment and lack of standardization tools for diagnosis are expected to hinder the market growth. On the contrary, untapped potential offered by developing economies are expected to present lucrative opportunities for market expansion during the forecast period.

Psoriatic Arthritis Treatment Market Segmentation  

The global psoriatic arthritis treatment market is segmented into drug type, type, route of administration, and region. By drug type, the market is categorized into NSAIDs, DMARDs, biologics, and others. On the basis of type, the market is divided into prescription, and OTC. According to route of administration, the market is segregated into topical, oral, and injectable. Region wise, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).  

Segment Review 

Depending on drug type, presently, the biologics segment dominates the global psoriatic arthritis treatment market, and is anticipated to continue this trend during the forecast period. This is attributed to increase in demand & higher acceptability for innovative therapies, surge in adoption of biological therapies, and availability of generic biologic drugs. Moreover, rise in incidence of psoriatic arthritis, increase in biologics in pipeline, and advancements in biologics coupled with minimal health side effects have boosted the psoriatic arthritis treatment market growth.  

According to route of administration, the injectable segment generated the highest revenue in 2018, and is expected to maintain its dominance throughout the forecast period. This is attributed to surge in R&D to develop novel drugs, increase in awareness toward psoriatic arthritis treatment, rise in healthcare budgets of developed & developing countries, increase in consumption of injectable psoriatic arthritis treatment drugs, and reimbursement available for injectable drugs.

Snapshot of Asia-Pacific Psoriatic Arthritis Treatment Market  

Asia-Pacific presents lucrative opportunities for the key players operating in the psoriatic arthritis treatment market, owing to increase in awareness toward psoriatic arthritis treatment and rise in adoption of psoriatic arthritis treatment products. Moreover, improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of healthcare are expected to significantly contribute toward the market growth. The other factors such as surge in focus of leading manufacturers on expanding their geographical presence in emerging Asia-Pacific countries to capture high growth opportunities, and presence of large population base are expected to drive the growth of the psoriatic arthritis treatment market in Asia-Pacific.

The key players profiled in this report include AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, Celgene Corporation, Eli Lilly And Company, Johnson & Johnson, Merck & Co Inc., Novartis AG, Pfizer Inc., and UCB S.A. 

Key Benefits for Stakeholders:

• The study provides an in-depth analysis along with the current psoriatic arthritis treatment market trends and future estimations to elucidate the imminent investment pockets.
• It offers psoriatic arthritis treatment market analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
• A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and global psoriatic arthritis treatment market growth.

 Psoriatic Arthritis Treatment Market Report Highlights