Global Psoriatic Arthritis Treatment Market Report and Forecast 2023-2031

Global Psoriatic Arthritis Treatment Market Report and Forecast 2023-2031

Global Psoriatic Arthritis Treatment Market Outlook

The global psoriatic arthritis treatment market value was USD 10.1 billion in 2022, driven by the prevalence of psoriatic arthritis across the globe. The market size is anticipated to grow at a CAGR of 9.8% during the forecast period of 2023-2031 to achieve a value of USD 23.5 billion by 2031.

Psoriatic Arthritis Treatment: Introduction

Psoriatic arthritis is a chronic inflammatory joint disease that affects some people who have psoriasis, which is a skin condition characterized by red, scaly patches. Psoriatic arthritis can cause joint pain, stiffness, and swelling, and it can lead to joint damage if left untreated. Psoriatic arthritis therapeutics includes a range of medications that aim to reduce joint pain, inflammation, and damage, as well as improve physical function and quality of life for patients.

The global psoriatic arthritis treatment s market is driven by the growing prevalence of psoriatic arthritis worldwide, increasing awareness of the disease among healthcare professionals and patients, and the availability of various treatment options. Biologic drugs such as TNF inhibitors, IL inhibitors, and PDE4 inhibitors are some of the most commonly used therapies for psoriatic arthritis. The market is also expected to benefit from ongoing research and development efforts to identify new targets and develop more effective and safer treatments for psoriatic arthritis.

However, high treatment costs, the potential for adverse effects, and the availability of alternative therapies may limit market growth. In addition, lack of awareness and poor diagnosis rates in some regions, particularly in low- and middle-income countries, could also hamper market growth.

Psoriatic Arthritis Treatment Market Scenario

Psoriatic arthritis is a chronic inflammatory disease that affects people with psoriasis. It is characterized by joint pain, stiffness, and swelling, and can cause irreversible joint damage if left untreated. The global psoriatic arthritis therapeutics market is driven by the increasing prevalence of psoriatic arthritis, a growing geriatric population, and the development of novel therapies.

The market is segmented by drug class, which includes nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying antirheumatic drugs (DMARDs), biologics, and others. Biologics are expected to hold the largest market share due to their high efficacy and fewer side effects.

Geographically, North America is expected to hold the largest market share due to the high prevalence of psoriatic arthritis, high awareness, and high healthcare spending. However, the Asia-Pacific region is expected to grow at the highest CAGR due to a large patient pool, increasing awareness, and improving healthcare infrastructure.

Overall, the psoriatic arthritis therapeutics market is expected to continue to grow as new therapies are developed and the demand for effective treatments increases.

Psoriatic Arthritis Treatment Market Segmentations

Market Breakup by Drug Class

• Nonsteroidal anti-inflammatory drugs (NSAIDs)
• Disease-modifying antirheumatic drugs (DMARDs)
• Immunosuppressants
• Biological Agents
• Others

Market Breakup by Product Type

• Prescription
• Over The Counter

Market Breakup by Route of Administration

• Oral
• Parenteral
• Topical

Market Breakup by Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Market Breakup by Region

• North America
• United States of America
• Canada
• Europe
• United Kingdom
• Germany
• France
• Italy
• Others
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Australia
• Others
• Latin America
• Brazil
• Argentina
• Mexico
• Others
• Middle East and Africa
• Saudi Arabia
• United Arab Emirates
• Nigeria
• South Africa
• Others

Key Trends in the Psoriatic Arthritis Treatment Market

Psoriatic arthritis is a chronic, inflammatory disease that affects joints and skin. The market for psoriatic arthritis therapeutics is expected to grow due to the increasing prevalence of the disease and the development of new therapeutics. Some of the key trends in the psoriatic arthritis treatment market include:

• Biologic drugs: The use of biologic drugs, such as TNF inhibitors and interleukin inhibitors, is increasing in the treatment of psoriatic arthritis due to their effectiveness in reducing inflammation.
• Combination therapy: Combination therapy with different classes of drugs is becoming more common in the treatment of psoriatic arthritis. This approach can provide more comprehensive treatment for patients and may be more effective than single-drug therapy.
• Personalized medicine: There is a growing trend towards personalized medicine in the treatment of psoriatic arthritis. This involves tailoring treatment to the individual patient based on their genetic makeup, disease severity, and other factors.
• Patient self-administration: The development of self-administered drugs, such as injectable biologics and oral small molecules, is making it easier for patients to manage their own treatment at home.
• Biosimilars: The introduction of biosimilars, which are similar to biologic drugs but less expensive, is expected to increase competition in the psoriatic arthritis therapeutics market and make treatment more affordable for patients.

Psoriatic Arthritis Treatment Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• AbbVie Inc.
• Janssen Global Services, LLC (Johnson & Johnson)
• Novartis AG
• Amgen Inc.
• Biogen Inc.
• Pfizer Inc.
• Eli Lilly and Company
• UCB S.A.
• Bristol-Myers Squibb Company
• Merck & Co. Inc.

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