What is the most common treatment for psoriatic arthritis?
Treatment focuses on controlling inflammation in your affected joints to prevent joint pain and disability and controlling skin involvement. One of the most common treatments are prescription medications called disease-modifying antirheumatic drugs (DMARDs).
Rise in prevalence of psoriasis & psoriatic arthritis disease, increase in number of pipeline drugs, and surge in government expenditure on healthcare have boosted the growth of the global psoriatic arthritis treatment market. However, poor demand in under-developed countries hampers the market. On the contrary, growth potential in the emerging market is expected to create lucrative opportunities in the near future.
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Market Value & CAGR:
The psoriatic arthritis treatment market size was valued at $7,860 million in 2018, and is estimated to reach at $13,744 million by 2026, registering a CAGR of 7.2% from 2019 to 2026.
Biologics segment dominated the market
By drug type, the biologics segment held the largest share in 2018, contributing to more than three-fifths of the global psoriatic arthritis treatment market. Moreover, the segment is expected to register the fastest CAGR of 7.9% during the forecast period. This is due to surge in patient awareness toward the availability of DMARDs drugs for psoriatic arthritis treatment, rise in prevalence of psoriatic arthritis, presence of biologics &biosimilars, and increase in healthcare expenditure in developed regions. The report includes an in-depth analysis other segments such as NSAIDs, DMARDs, and other.
Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, The growth of the psoriatic arthritis treatment market is attributed to rise in prevalence of psoriasis & psoriatic arthritis disease across the globe. Furthermore, surge in demand for novel treatments coupled with increase in number of pipeline drugs for psoriatic arthritis treatment is the major factors that contributes toward the growth of the global market.
According to route of administration, the psoriatic arthritis treatment market is fragmented into topical, oral, and injectable. Presently, the oral segment is the major shareholder in the global psoriatic arthritis treatment market, owing to rise in demand for oral psoriatic arthritis treatment drugs, increase in awareness toward availability of psoriatic arthritis treatment, surge in R&D activities to develop new drugs, rise in consumption of oral psoriatic arthritis treatment drugs, and low cost of oral NSAIDs drugs. In addition, rise in healthcare budgets of developed & developing countries is expected to offer remunerative opportunities for psoriatic arthritis treatment market expansion in the near future.
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Major market player
- AbbVie Inc.
- Bristol-Myers Squibb Company
- Amgen Inc.
- Eli Lilly And Company
- Celgene Corporation
- Merck & Co Inc.
- Johnson & Johnson
- Pfizer Inc.
- Novartis AG
- UCB S.A.
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