Global Psoriatic Arthritis Treatment Market Analysis

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  • Type: Common Disease Area
  • Published : March 2021
  • Region: Worldwide
  • Country: NA
  • Report ID : 135

  • Format: PPT, PDF

Global Psoriatic Arthritis Treatment Market: Segmented by Drugs Class (Non-steroidal Anti-inflammatory Drugs (NSAIDS), Non-biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs), Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs) and Others), by Route of Administration (Oral, Parenteral, and Topical), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and Regional Forecast, 2019-2028

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Report Overview

The global psoriatic arthritis treatment market size stood at around USD 6.35 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Increasing prevalence of psoriatic arthritis, an autoimmune disorder caused by an attack of the body’s immune system on joints and skin is poised to drive the demand for psoriatic arthritis drugs for treatment. The disease is more prevalent among the patients already suffering from plaque psoriasis. According to a study published by Celgene Corporation, about 30% of the patients with psoriasis develop inflammatory condition involving joints, known as psoriatic arthritis.
Stressful lifestyles resulting in the overstimulation of immune system; rapidly increasing geriatric population, growing prevalence of psoriasis, rising income that increases affordability for high cost biologic products, and the rise in the number of new product approvals are some of the major factors contributing to the psoriatic arthritis treatment market growth. For instance, on March 2019, AbbVie announced that the Japanese Ministry of Health, Labour, and Welfare (MHLW) approved its Skyrizi (risankizumab) for treating plaque psoriasis, generalized pustular psoriasis, erythrodermic psoriasis, and psoriatic arthritis disease in adults who haven’t responded to conventional therapies.

Market Drivers

Rise in Prevalence of Psoriatic Arthritis to Fuel Market Growth: A steady rise in the prevalence of PsA across the globe has been observed in recent years, attributable to factors such as aging population, stressful lifestyles, genetic changes, and growing life expectancy. According to the study published by NCBI in the year 2014, the prevalence of the disease varies significantly among different regions of the world. For example, the incidence of PsA varies from 0.1/100000 in Japan to 23.1/100000 in Finland. The prevalence of PsA in Europe and America varies from 0.02%-0.42%. Moreover, the study suggests that the prevalence of the disease is more common in developed regions of the world as compared to Asia and other emerging regions. According to the National Psoriasis Foundation (NPF), in 2017, around 125 million people globally had psoriasis, out of which 10-20% population developed psoriasis arthritis. Thus, continuously rising patient population is projected to augment the growth of the market during the forecast period.

Presence of Strong Pipeline of Drugs to Spur Market Growth: A recent wave of biologic products prescribed for the treatment of PsA is likely to double the market revenue by the end of 2026. Biologics are the targeted drugs developed from generic engineering of proteins. These are being increasingly recommended by dermatologists owing to their effectiveness to reduce the symptoms of the disease despite their high cost. This leverages a great market potential for investment in the novel product developments and clinical trials. For instance, Mirikizumab, a biologic drug, has shown 82% improvement in the symptoms with Psoriasis. Additionally, growing strategic collaborations and mergers among various key players are likely to enhance the penetration of innovative products in the coming years.

  1. Global Psoriatic Arthritis Treatment Market Overview……………………………………..
    1. Market Size
  2. Market Growth Drivers……………………………………………………..……………….
    1. High Incidences of Glaucoma Diseases Coupled with Geriatric Population
    2. Rising Demand for Minimally Invasive Surgery for Glaucoma Treatment
    3. Innovations in Products and Technologies Such as Xen Gel Stent
    4. Initiatives by Government and Healthcare Institutions
  3. Major Types of Glaucoma…………………………………………………………………..
    1. Open Angle Glaucoma
    2. Angle Closure Glaucoma
    3. Others
  4. Psoriatic Arthritis Treatment Market Segmentation……..………………………………..
    1. By Drug Class
      1. NSAIDs
      2. DMARD
      3. Biologics
      4. Others
    2. By Route of Administration
      1. Topical
      2. Oral
      3. Injectable
    3. By Geography
      1. North America Market Analysis
      2. Europe Market Analysis
      3. Asia-Pacific Market Analysis
      4. Latin America, Middle-East and Africa Market Analysis
  5. Psoriatic Arthritis Treatment Major Drugs Market Share……………………………..
    1. Key Findings
    2. Market Analysis, Insights and Forecast to 2028
  6. Competitive Landscape………………………………………………………….………….
    1. Major Players
    2. Products in Pipeline
  7. Key Company Profiles……………………………………………………………………….
    1. Amgen Inc. Company overview, Product & Services, Strategies & Financials
    2. AbbVie Inc. Company overview, Product & Services, Strategies & Financials
    3. Novartis AG Company profile, Product & Services, Strategies & Financials
  8. Potential Growth Opportunities………………………………………………..…………
    1. Advancements in drug development
    2. Untapped markets in developing economies
  9. Factors Driving Future Growth…………………………………………………………..
    1. Key Industry Trends and Recent Developments in Psoriatic Arthritis Treatment Market
    2. Future Opportunities
  10. Conclusion

Market Segmentation

By Drug Class:

Based on drug class, the market for psoriatic arthritis treatment segments include non-steroidal anti-inflammatory drugs (NSAIDs), non-biologic disease modifying anti-rheumatic drugs (DMARDs), biologic disease modifying anti-rheumatic drugs (DMARDs), and others. Among them, the DMARDs biologics segment dominated the market, with 63.8% share in the year 2019. This segment is likely to continue its dominance throughout the forecast period attributable to the growing adoption of biological therapies due to their efficacy towards the management of the disease.

By Route of Administration:

Based on route of administration, the parenteral route accounted for largest revenue share for psoriatic arthritis treatment in the year 2019. Biological drugs are designed to be administered via systemic route. Parenteral or systemic administration of the drugs oers immediate concentration of the drugs in the blood while avoiding the first pass effect. These advantages offered by the systemic route, high cost of the injectable products, and growing adoption of advanced therapies for the management of the disease contributes to the dominance of the segment. The segment is expected to continue its leading position during the forecast period due to increasing number of products launches in the biologics category.

By Region:

The market size for Psoriatic Arthritis Treatment in North America stood at USD 2.78 billion in 2019. The growing burden of psoriatic arthritis in the North American countries is likely to drive the demand for the novel and effective treatment options for its management. The region is likely to continue its dominance throughout the forecast period attributable to high adoption of biological therapies, high research and development expenditure by the players in the region on clinical trials on disease management, and speedy new drug approvals by USFDA. According to the press release by the leading player Amgen Inc., there are more than 600,000 Americans who have psoriatic arthritis. Followed by North America, Europe emerged as the second largest market for PsA treatment. Asia Pacific region is projected to expand at the highest growth rate during the forecast period due to improving healthcare infrastructure, growing healthcare expenditure, and penetration of novel biologics in the region. Latin America and the Middle East & Africa regions were found to be the emerging markets leveraging a great opportunity for the players willing to establish their footprints in these regions.

Psoriatic Arthritis Treatment Market- Growth Rate by Region

Key Industry Players

Some of the key players include AbbVie Inc.; Amgen Inc.; Johnson & Johnson Services, Inc.; AstraZeneca plc; Bausch Health Companies Inc.; Bristol-Myers Squibb Company; Celgene Corporation; Novartis International AG; Eli Lilly and Company; Pfizer, Inc.; and UCB S.A. Strategic initiatives including mergers and acquisitions, collaborations, partnerships, and joint ventures make a cumbersome market dynamic among the key players.

Continuous product development and consecutive launches of breakthrough products are the major themes in this competitive landscape. As regulatory procedures become more stringent and competitive rivalry intensifies in this market, new products must have a significant clinical advantage over existing products, in terms of safety and efficacy or the end result. This has led to a large number of head-to-head trials between key commercial products, such as Humira and Remicade, and new products or late-stage pipeline candidates. These trials determine the superiority of performance through a comparative analysis of several parameters.

Methodolgy description

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