The global psoriatic arthritis (PsA) treatment market is slated to have a valuation of USD 11,973.7 million in 2024. The need for treatment related to psoriatic arthritis arises as the count of psoriasis-affected people rises. The effects caused due to the disorder, such as morning stiffness and nail pitting, often leave patients with no recourse other than seeking treatment.
The psoriatic arthritis (PsA) treatment industry is slated to progress at a CAGR of 7.8% through 2034. The global population is aging at a rapid rate and this aging shows no signs of slowing down. With the disorder being a blight on the age group of 50-60, the significant geriatric population is set to advance the industry’s propositions.
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By the time 2034 rolls around, the psoriatic arthritis (PsA) treatment market’s value is forecasted to hit USD 25,375.6 million. Regulatory bodies approving new forms of treatment at a rapid rate are set to add considerable value to the market. Notable investment into clinical trials is also helping the market’s prospects.
However, the risk of side effects cannot be underestimated. Side effects like hair loss and lung inflammation serve to make patients hesitant about seeking the treatment.
“Manufacturers in the psoriatic arthritis (PsA) treatment market are looking at widening the scope of treatment options to open up new avenues of progress. They are achieving this by not only producing new drugs but also with alternative treatment options like light therapy and acupuncture,” says an analyst at FMI.
Key Takeaways from the Psoriatic Arthritis (PsA) Treatment Market:
- The psoriatic arthritis (PsA) treatment market is expected to be USD 11,973.7 million in size in 2024.
- Biologics is the top drug type. They are expected to account for 57.2% of the market share in 2024.
- Injectable is the predominant route of administration. For 2024, injectable drugs are anticipated to account for 84.9% of the market share.
- India is expected to be a promising country in terms of progress for the market. The country is forecasted to have a CAGR of 8.9% from 2024 to 2034 in the market.
- China and Australia are poised to be lucrative countries for the market. For the forecast period, the CAGR for China and Australia is predicted to be 8.4% and 7.9% respectively.
- The market is expected to progress at a CAGR of 7.5% in the United States.
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Competition Analysis of the Psoriatic Arthritis (PsA) Treatment Market:
New drug formulation is the strategy given priority by market players. Collaborations are done with government agencies and healthcare institutions to raise more awareness about psoriatic arthritis. Some of the prominent companies in the market include Pfizer Inc., Johnson & Johnson, AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, UCB S.A., Eli Lilly & Co, Novartis AG, Celgene Corporation, and AstraZeneca PLC.
Recent Developments in the Psoriatic Arthritis (PsA) Treatment Market:
- In September 2023, the Pathway platform for easing arthritis treatment was launched by Wellmin Health, in collaboration with the non-profit organization Versus Arthritis.
- In February 2024, Biocon Biologics signed terms with Janssen Biotech Inc. and Johnson & Johnson for the sale of the drug Bmab 1200.
Key Segments of Psoriatic Arthritis (PsA) Treatment Market:
By Drug Type:
Based on the drug type, the psoriatic arthritis (PsA) treatment market can be segmented into the following segments: non-steroidal anti-inflammatory drugs, disease modifying anti-rheumatic drugs, and biologics. Disease-modifying anti-rheumatic drugs can be further separated into corticosteroids, antimalarial, methotrexate, and others. On the other hand, biologics can be bifurcated into TNF inhibitors and interleukin inhibitors.
By Route of Administration:
Based on the route of administration, the psoriatic arthritis (PsA) treatment market can be bifurcated into the following segments: injectable and oral.
By Distribution Channel:
Based on the distribution channel, the psoriatic arthritis (psa) treatment market can be segmented into the following segments: hospital pharmacies, retail pharmacies, and mail-order pharmacies.
By Region:
The sector has been analyzed with the following regions covered: North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
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