Assessing Psoriatic Arthritis Treatment Market Size: Insights into Global Trends, Growth Drivers, and Competitive Landscape

The psoriatic arthritis treatment market size has grown strongly in recent years. It will grow from $10.93 billion in 2023 to $12 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increased diagnosis, rising prevalence of psoriatic arthritis, increasing awareness of psoriatic arthritis and its treatments, expanding range of approved psoriatic arthritis treatments, government support for research and development, increased investment from pharmaceutical companies.

The psoriatic arthritis treatment market size is expected to see strongly grown in the next few years. It will grow to $17.16 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to personalized medicine, emerging biologics and small molecules, expanding treatment options, global aging population. Major trends in the forecast period include advancements in biologics, oral small molecules, targeting specific pathways, telemedicine and remote monitoring, patient-centered care, real-world evidence.

Market Overview -
Psoriatic arthritis treatment refers to a method of treatment or drug used to stop or lessen a chronic inflammatory disease of the joints and the areas where tendons and ligaments attach to the bones (entheses). This treatment focuses on controlling skin involvement and treating joint pain and disability.

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Surging Prevalence Of Psoriasis And Psoriatic Arthritis Drives Growth In Psoriatic Arthritis Treatment Market
The rise in the prevalence of psoriasis and psoriatic arthritis boosted the growth of the psoriatic arthritis treatment market. Psoriasis (PSO) and psoriatic arthritis (PsA) are inflammatory disorders that can severely impair health and quality of life. Psoriasis is associated with inflammatory arthritis, known as psoriatic arthritis (PsA), with an incidence of 30% in psoriatic patients. For instance, in June 2021, according to the National Psoriasis Foundation, a US-based healthcare agency, more than 8 million people in the United States and 125 million people worldwide suffered from psoriasis, a chronic immune-mediated illness. Furthermore, in the USA, about 30% of people with psoriasis also develop psoriatic arthritis. Thus, an increase in the prevalence of psoriasis and psoriatic arthritis drives market growth.

Competitive Landscape -
Major companies operating in the psoriatic arthritis treatment market include AbbVie Inc., Amgen Astellas BioPharma K.K., Johnson & Johnson Services Inc., Bristol-Myers Squibb Company, Celgene Corporation, Novartis International AG, Eli Lilly and Company, Pfizer Inc., CB Biosciences Inc., Hoffmann-La Roche Ltd., Merck & Co. Inc., AstraZeneca plc, Sanofi SA, Otsuka Pharmaceutical Co. Ltd., Sumitomo Dainippon Pharma Co. Ltd., Bayer AG, Abbott Laboratories, Eisai Inc., Janssen Pharmaceuticals Inc., Bausch Health Companies Inc., F. Hoffmann-La Roche Ltd., Gilead Sciences Inc., GlaxoSmithKline plc, LEO Pharma A/S, Regeneron Pharmaceuticals Inc., Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Valeant Pharmaceuticals International Inc., Chugai Pharmaceutical Co. Ltd., Kyowa Kirin Co. Ltd.

Innovative Jak Inhibitors Transform Psoriatic Arthritis Treatment Landscape
The development of novel drugs such as Janus kinase (JAK) inhibitors for treating psoriatic arthritis is shaping the market. Janus kinase (JAK) inhibitors are orally administered small molecules that are emerging as a novel treatment for psoriatic arthritis patients. There are three JAK inhibitors approved for the treatment of autoimmune diseases: tofacitinib, baricitinib, and upadacitinib. Among them, Xeljanz (tofacitinib) and Xeljanz (tofacitinib) XR are the first Janus kinase (JAK) inhibitors that have been approved by the Food and Drug Administration (FDA) and the European Medicines Agency (EMA). They are used to treat adult patients with active psoriatic arthritis (PsA), who have had an inadequate response or intolerance to methotrexate or other disease-modifying antirheumatic drugs (DMARDs). In June 2020, AbbVie, a leading US-based pharmaceutical company, announced that it had applied for the approval of upadacitinib (RINVOQ), a JAK inhibitor, with the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).

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Key Segments -

The psoriatic arthritis treatment market covered in this report is segmented -

1) By Drug Class: Nonsteroidal Anti-Inflammatory Drugs (NSAIDS), Disease-Modifying Anti-Rheumatic Drugs (DMARDS), Biologics, Other Drug Classes
2) By Route Of Administration: Oral, Parenteral, Topical
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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