The new report by Expert Market Research titled, ‘Global Psoriatic Arthritis Treatment Market Trends, Size, Share, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis global psoriatic arthritis treatment market, assessing the market based on drug class, product type, route of administration, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 8.4 Billion
- Forecast CAGR (2023-2028): 9.8%
In addition to the rise in biological and biosimilar therapies, there is an increase in the prevalence of psoriatic arthritis and an increase in R&D activities to develop novel drugs for the treatment of psoriatic arthritis. There is also an increase in demand for psoriatic arthritis treatment goods, along with an increase in the elderly population. High treatment costs and a lack of standardised diagnostic technologies, on the other hand, are projected to restrain market expansion.
Psoriatic Arthritis Treatment Industry Definition and Major Segments
Psoriatic arthritis is a spondylarthritis-related inflammatory joint disease caused by psoriasis. Skin and musculoskeletal systems are both affected. Genetics and the environment both play a role in its development. Psoriatic arthritis symptoms include swollen toes, fingers, and joints, and pitted nails and discomfort.
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On the basis of its drug class, the market can be widely categorised as:
- NSAIDs
- DMARDs
- Biologics
- Other
Based on its product type, the market can be bifurcated as:
- Prescription
- OTC
The different administration route available for psoriatic arthritis treatment are:
- Topical
- Oral
- Injectable
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Psoriatic Arthritis Treatment Market Trends
More than half of the revenue share was captured by biologics in the Psoriatic Arthritis (PsA) Treatment market. The drug class is likely to increase at the fastest rate during the forecast period and maintain its dominance. The segment’s growth is expected to be bolstered by the good commercial performances of existing products and the upcoming releases of potential pipeline prospects.
North America and Europe accounted for over half of total revenue. North America led the regional markets, mostly due to product sales in the United States. There is also a substantial patient pool and significant manufacturers supporting the PsA treatment market expansion. Asia Pacific is predicted to be one of the fastest expanding areas. Biosimilars are a crucial growth driver in emerging economies including China, India, and South Korea. Regional expansion is also likely to be influenced by overall economic development, healthcare infrastructure improvements, rising disposable income, and consumer awareness.
Key Market Players
The major players in the market are AbbVie Inc., Amgen, Inc., Johnson & Johnson Services, Inc., Bristol-Myers Squibb Company, Celgene Corporation, Novartis International AG, Eli Lilly and Company, Pfizer, Inc., UCB S.A, and AstraZeneca plc, among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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