The global psoriatic arthritis (PsA) treatment market is poised for remarkable expansion, with an anticipated valuation of USD 11,973.7 million by 2024. This growth is largely driven by the increasing prevalence of psoriasis and its associated complications, highlighting an urgent need for effective and innovative treatment solutions.
Psoriatic arthritis, characterized by key symptoms such as morning stiffness, nail pitting, and joint inflammation, has created a rising demand for advanced therapies. As the global population ages, particularly individuals aged 50 to 60 who are most affected by PsA, the necessity for targeted treatments has become increasingly critical.
Recent projections indicate that the PsA treatment market will grow at a Compound Annual Growth Rate (CAGR) of 7.8% through 2034, with expectations that the market will double in size to reach USD 25,375.6 million. This remarkable growth is attributed to rapid advancements in treatment options, including biologics, small molecules, and targeted therapies, alongside significant investments in clinical research and development.
The steady rise in PsA cases worldwide, combined with the introduction of new therapies that offer improved efficacy and safety, paints a promising outlook for the future of PsA treatment. Industry leaders are prioritizing the enhancement of patient outcomes and quality of life through cutting-edge innovations in both diagnostics and therapeutic approaches.
“Manufacturers in the PsA treatment market are focused on broadening treatment options to open new avenues for progress. This includes not only the development of new pharmaceuticals but also innovative alternative treatments,” states an analyst at FMI.
With the continued commitment to research and development, the future of the PsA treatment market looks bright, offering hope for millions suffering from this debilitating condition.
Key Market Insights:
- The PsA treatment market is expected to reach USD 11,973.7 million in 2024.
- Biologics are projected to dominate the market, accounting for 57.2% of the market share in 2024.
- Injectable drugs are anticipated to hold 84.9% of the market share.
- India is forecasted to lead with a CAGR of 8.9% from 2024 to 2034. China and Australia are also set to be key players with CAGRs of 8.4% and 7.9%, respectively. The U.S. market is expected to grow at a CAGR of 7.5%.
Psoriatic Arthritis (PsA) Treatment Market Insights: Access Our Full Report for a Deep Dive into Emerging Trends!
Competitive Landscape:
The PsA treatment market is characterized by active drug formulation and strategic collaborations. Major players 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:
- September 2023: Wellmin Health, in collaboration with Versus Arthritis, launched the Pathway platform to enhance arthritis treatment.
- February 2024: Biocon Biologics entered a partnership 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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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