Global Psoriatic Arthritis Treatment Market is valued approximately USD 9.61 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.2% over the forecast period 2022-2029. Psoriatic Arthritis is a form of arthritis that occurs in people affected from psoriasis. Psoriatic Arthritis causes pain, swelling and stiffness in body joints. Psoriatic Arthritis is an auto immune condition in which body's immune system attacks healthy cells of the body. It mainly affects knees, ankles, feet, and hands. Severe Psoriatic Arthritis can cause permanent deformation of joints. Its treatment options include steroids, injections, and oral drugs among others. The increasing incidence of Psoriatic Arthritis and growing penetration of biological and biosimilar therapies as well as strategic initiatives from leading market players are key factors accelerating the market growth.
According to the National Psoriasis Foundation estimates - as of 2020, around 8 million individuals in US are affected by Psoriasis. Whereas, globally around 125 million people are affected by Psoriasis, witnessing for around 2-3% of the global population. In addition, approximately 30 percent individuals with psoriasis also develop psoriatic arthritis. Also, rising number of geriatric individuals and growing healthcare infrastructure in emerging markets would create lucrative growth prospectus for the market over the forecast period. However, high Cost associated with treatment and lack of standardization of diagnosis tools impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Psoriatic Arthritis Treatment Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region due to rising prevalence of Psoriatic Arthritis as well as presence of leading market players in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising number of geriatric individuals as well as growing healthcare infrastructure in the region.
Major market players included in this report are:
Bristol-Myers Squibb Company
Eli Lilly and Company.
Johnson & Johnson.
Merck & Co Inc.
Recent Developments in the Market:
In December 2021, Novartis, received approval from US FDA for its new product Cosentyx(secukinumab) for the treatment of active enthesitis-related arthritis (ERA) in four years and older, and active juvenile psoriatic arthritis (JPsA) in patients two years and older.
In January 2022, The US Food and Drug Administration (FDA) approved AbbVie's Skyrizi (risankizumab-rzaa). This new formulation is intended for treatment of active psoriatic arthritis (PsA) patients.
Global Psoriatic Arthritis Treatment Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Drug Type, Type, Route of Administration, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Drug Type
By Route of Administration
Rest of the World