Global Psoriatic Arthritis Treatment Market – Industry Trends and Forecast to 2030

Psoriatic Arthritis Treatment Market Analysis and Size

Growing number of people suffering from smoking, obesity, mental stress, and family history are the major factors for increase in cases of psoriatic arthritis. Major market players are focused on gaining approvals from regulatory bodies to enhance their product portfolio. Psoriatic arthritis seem to affect joints on just one side or on both sides of the body. The signs and symptoms of psoriatic arthritis often be alike those of rheumatoid arthritis.  

Data Bridge Market Research analyses a growth rate in the psoriatic arthritis treatment market in the forecast period 2023-2030. The expected CAGR of psoriatic arthritis treatment market is tend to be around 12% in the mentioned forecast period. The market was valued at USD 9 billion in 2022, and it would grow upto USD 22.28 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Psoriatic Arthritis Treatment Market Scope and Segmentation

Market Definition

Psoriatic arthritis is a kind of arthritis that mostly affects people suffering from psoriasis, a chronic disease typically characterized by abnormal patches on skin. The major symptoms of psoriatic arthritis are inflammation and pain in joints. Majority of the people develop psoriasis first and are later diagnosed with psoriatic arthritis. However, the joint problems can sometimes begin before skin patches become visible.  

Psoriatic Arthritis Treatment Market Dynamics

Drivers

• High Prevalence of Obesity

Obesity and overweight are typically characterized as excessive or irregular fat accumulations that can harm one's health. In 2016, about 1.9 billion individuals aged 18 years and above were overweight. More than 650 million of those individuals were found to be obese. Around 39% of individuals aged 18 years and above were overweight in 2016, and 13% were obese. In 2020, 39 million kids under five were overweight or obese. Approximately 340 million kids and adolescents aged 5 to 19 years were considered overweight or obese in 2016. Thus, it is expected that the risk of psoriatic arthritis will increase as the prevalence of obesity grows. This boosts the market growth.

• Growing Research Activities

Major market players are primarily focused on gaining approvals from regulatory bodies to enhance their product portfolio. This is projected to boost the growth of the market during the forecast period. For instance, Janssen-Cilag International NV (Janssen) announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) recommended the use of STELARA (ustekinumab), alone or in combination with methotrexate in July 2013, used for the treatment of active psoriatic arthritis in adult patients when the response to previous non-biological disease-modifying anti-rheumatic drug (DMARD) is not satisfying. Thus, this factor boosts the market growth.

Opportunities

• Increase Incidence of Psoriatic Arthritis

Psoriatic arthritis incidence has been steadily growing over the past few years, which has been associated with aging populations, genetic alterations, stressful lifestyles, and increasing life expectancy. As per the National Psoriasis Foundation, psoriasis and psoriatic arthritis affect millions of individuals in the U.S. and throughout the world. As per the latest research, more than 8 million individuals in the U.S. have psoriasis. According to the initiative on World Psoriasis Day, 125 million individuals globally, 2 to 3% of the entire population have psoriasis. It affects about 30% of patients with psoriasis. Thus, this prevalence rate demands high treatment rate and thus boosts the market growth.

• Increased Demand of Biologics

The increasing development of novel therapies in the psoriatic arthritis treatment market is boosting the growth of the market. This is inspiring new ideas among the major market players, promoting the development of the psoriatic arthritis treatment market. As per the latest study, the demand for DMARDs accounts for more than 3/4 of the market's overall value. Although the majority of psoriatic arthritis patients choose injectables as their favored method of treatment administration, the rising availability of high-end oral medications is increasing the appeal of orally delivered therapy. Thus, this factor boosts the market growth.

Restraints/Challenges

• Increased Availability of Substitute Treatments

Wide availability of alternate treatment for psoriatic arthritis is anticipated to impede the growth of the market during the forecast period. For instance, as per The Center Orthopedic & Neurosurgical Care & Research, nearly one million hip and knee replacement surgeries are performed in the U.S. every year, making it one of the most common orthopedic procedures performed. By 2030, total knee replacement surgeries are expected to grow 673% to 3.5 million procedures per year worldwide. Approximately 1/2 of the American adults are projected to develop knee osteoarthritis in at least one knee in their lifetime. Thus, this factor impede the market growth.

This psoriatic arthritis treatment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the psoriatic arthritis treatment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2021, AbbVie Inc. announced that Health Canada had approved RINVOQ (upadacitinib, 15 mg), an oral, once-daily selective and reversible Janus kinase (JAK) inhibitor for the treating adults with active psoriatic arthritis (PsA) who have had an inadequate response or intolerance to methotrexate or other disease-modifying anti-rheumatic drugs (DMARDs).

Global Psoriatic Arthritis Treatment Market Scope

The psoriatic arthritis treatment market is segmented on the basis of diagnosis, types, treatment, route of administration, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Diagnosis

• Non-steroidal Anti-inflammatory Drugs (NSAIDs)
• Disease-modifying Antirheumatic Drugs (DMARDs)
• Biologics
• Others

Types

• Oligoarticular
• Polyarticular
• others

Treatment

• Therapy
• Medication
• Others

Route of Administration

• Oral
• Parenteral

End-Users

• Hospitals
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Others

Psoriatic Arthritis Treatment Market Regional Analysis/Insights

The psoriatic arthritis treatment market is analyzed and market size insights and trends are provided by diagnosis, types, treatment, route of administration, end-user and distribution channel as referenced above.

The major countries covered in the psoriatic arthritis treatment market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market because of an increase in the number of medications getting regulatory body approval. The increasing incidence of psoriatic arthritis, growing rates of rheumatoid arthritis, the development of advanced biologics and biosimilar for better psoriatic arthritis management, and the wide presence of major market players are boosting the market growth.  

Asia-Pacific is expected to account for the largest market share due to increasing prevalence cases psoriatic arthritis and the number of generic drugs. Furthermore, it has been shown that PsA patients in Asia have major rates of subclinical atherosclerosis and conventional cardiovascular risk factors.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Psoriatic Arthritis Treatment Market Share Analysis

The psoriatic arthritis treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to psoriatic arthritis treatment market.

Key players operating in the psoriatic arthritis treatment market include:

• Pfizer Inc. (U.S.)
• Abbvie Inc. (U.S.)
• Novartis AG (Switzerland)
• Amgen Inc. (U.S.)
• Boehringer Ingelheim International GmbH. (Germany)

• Merck & Co Inc. (U.S.)
• Sun Pharmaceutical Industries Ltd. (India)
• Teva Pharmaceuticals Industries Ltd. (Israel)
• AstraZeneca (U.K.)
• Ampio Pharmaceuticals Inc. (U.S.)
• Lilly (U.S)
• Mylan N.V. (U.S.)
• Currax Pharmaceuticals LLC (U.S.)
• Bayer AG (Germany)
• Antares Pharma (U.S.)
• Amgen Inc. (U.S.)

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