Psoriatic Arthritis (PsA) Treatment Market size is projected to total US$ 15.6 Billion by 2028.
Psoriatic Arthritis (PsA) Treatment Market – Key Research Findings
Global Psoriatic Arthritis (PsA) treatment market size in 2018 – nearly US$ 7,800 Mn.
The Psoriatic Arthritis (PsA) treatment market is expected to grow at an approximate CAGR of 7.2% over 2018-2028.
North America and Europe are expected to remain the largest regional markets for Psoriatic Arthritis (PsA) treatment
North America and Europe are among the prominent regions in the Psoriatic Arthritis (PsA) treatment market owing to the increasing adoption of biologics and biosimilars, along with the growing adoption of combination treatment for psoriatic arthritis.
Nearly 70% of the psoriasis patient population is prone to psoriatic arthritis, and up to 20% of arthritis patients are susceptible to acquire psoriasis, according to the recent findings of the Arthritis Foundation.
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The rate of increasing burden of psoriasis and psoriatic arthritis on healthcare industry has been boosting clinical research in the field of psoriatic arthritis, in recent years.
Sustained adoption of conventional disease modifying anti-rheumatic drugs (DMARDs), especially in cost sensitive regions, is projected to push the demand for psoriatic arthritis treatment in coming years.
Bristol-Myers Squibb Company
Johnson & Johnson Services
AstraZeneca Plc UCB S.A.
Eli Lilly & Co
and Celgene Corporation
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Role of Strong Product Pipeline & Mounting Clinical Research Investments
Over 20 drugs for psoriasis and psoriatic arthritis are currently in the phase II of pipeline, whereas more than 28 are in phase III of clinical trial, as indicated by the National Psoriasis Foundation. However, around 24 drugs have already received FDA approval for inclusion in the treatment for psoriasis and psoriatic arthritis.
While such a strong product pipeline continues to drive the demand for psoriasis and psoriatic arthritis treatment, a new research points to the shifting focus of several drug manufacturers to competitive pricing strategies, in an effort to attain widespread acceptance in coming years. Recently, Future Market Insights released a new intelligence based on the analysis of global psoriatic arthritis treatment market. The study forecasts a robust over-7% yearly growth for the market in 2019.
Industry Behemoths Cover More than 55% Market Value Share
In a fairly consolidated global landscape of psoriatic arthritis treatment market, more than 55% share of the total revenue is accounted by industry giants such as Novartis AG and AbbVie Inc. that include biologics in their core portfolio. While market leaders are maintaining focus on FDA approvals and clinical trials, research also points to the increasing importance of diverse pricing strategies.
Moreover, prominent players in psoriatic arthritis treatment market are likely to augment investments in R&D of biosimilars, biologics, and TNF (tumor necrosis factor) inhibitors to target regional markets. A number of leading drug manufacturers are also maintaining sizable investments in DMARDs that are scheduled for market entry in next few years. This is perceived as a strong factor improving growth prospects of psoriatic arthritis treatment market, according to the report.
Besides all these, strategic acquisitions, partnerships, and collaborations will remain the preferred expansion strategies adopted by a majority of prominent operators in psoriatic arthritis treatment landscape,” says a senior research analyst at the company.
Demand for Biologics & DMARDs Gaining Momentum
Research-driven understanding of the pathophysiology of psoriatic arthritis is fueling the introduction of innovative therapies in psoriatic arthritis treatment market, triggering innovations among the market participants – thereby supporting the growth of psoriatic arthritis treatment market. Targeted biological therapy has been demonstrating a decent success rate in terms of inducing temporary pain relief resultant of psoriatic arthritis, and thus continues to represent an attractive position in the psoriatic arthritis treatment market.
The report says that the demand for biologics accounts for more than 55% share of the global market revenue, whereas DMARDs demand makes up for more than 3/4th of the total market value. Although a majority of psoriatic arthritis patients opt for injectable as a preferred route of administration of psoriatic arthritis treatment, increasing introduction of innovative oral drugs is uplifting the popularity of orally administered psoriatic arthritis treatment.
Development of novel oral treatments for psoriatic arthritis is likely to favor the growth of North America’s market. Growing availability of combination therapies and relatively economical biosimilar antibody therapeutics are identified to be the primary boosters for the growth of Europe’s market. Collectively, North America and Europe account for over 60% share in the global value of psoriatic arthritis treatment market. The report indicates that the psoriatic arthritis market in Asia Pacific is likely to display high growth potential in the course of next few years.
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PSORIATIC ARTHRITIS (PSA) TREATMENT MARKET TAXONOMY
The global psoriatic arthritis (PsA) treatment market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.
Non-steroidal anti-inflammatory drugs
Disease modifying Anti-rheumatic drugs
By Route of Administration
By Distribution Channel
Mail order pharmacies
Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.