The global psoriatic arthritis treatment market size is expected to reach over USD 18.6 billion by 2026, according to a new study by Grand View Research Inc. It is projected to expand at a CAGR of 10.1% during the forecast period. Emergence of biosimilars, new product launches, and a rising consumer awareness are some of the key factors driving the growth.
Biologics generated the highest revenue among other drug classes, in 2018. The segment growth is driven by the demand for targeted therapy, improved safety & efficacy profiles, anticipated launches of several promising pipeline candidates, and strong commercial performances of existing products. DMARDs is also expected to maintain a steady growth rate, supported by the first-line action of corticosteroids as well as the impending launch of JAK-inhibitors and TYK2 kinase inhibitors.
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North America captured the highest market share in 2018, propelled by high healthcare expenditure, disease prevalence, regional presence of key manufacturers, and rapid rise in consumer awareness. Asia Pacific is expeted to demonstrate the fastest regional growth over the forecast period, driven by a rising trend of biosimilars, improvement in healthcare infrastructure, and increasing disposable income.
Some key players in the psoriatic arthritis (PsA) treatmentmarket include AbbVie Inc.; Amgen Inc.; Johnson & Johnson Services, Inc.; AstraZeneca plc; Bausch Health Companies Inc.; Bristol-Myers Squibb Company; Celgene Corporation; Novartis International AG; Eli Lilly and Company; Pfizer, Inc.; and UCB S.A.
Further key findings from the study suggest:
• Biologics captured over 50% share of the psoriatic arthritis treatment market in 2018. The segment is anticipated to witness growth, attributed to the launch of infliximab, guselkumab, bimekizumab, risankizumab, and tildrakizumab
• Upadacitinib, filgotinib, and BMS-986165 —upon launch — are likely to have a positive impact on the growth rate of DMARDs
• Injectables accounted for the largest PsA treatment market share among other routes of administration in 2018
• North America and Europe, collectively, captured more than half the revenue share in 2018 and are anticipated to witness significant growth in the forthcoming years
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Grand View Research has segmented the global psoriatic arthritis treatment market based on drug class, product type, route of administration, and region:
Psoriatic Arthritis Treatment Drug Class Outlook (Revenue, USD Million, 2014 - 2026)
• NSAIDs
• DMARDs
• Biologics
• Others
Psoriatic Arthritis Treatment Product Type Outlook (Revenue, USD Million, 2014 - 2026)
• Prescriptions
• OTC
Psoriatic Arthritis Treatment Route of Administration Outlook (Revenue, USD Million, 2014 - 2026)
• Topical
• Oral
• Injectable
Psoriatic Arthritis TreatmentRegional Outlook (Revenue, USD Million, 2014 - 2026)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o Spain
o France
o Italy
• Asia Pacific
o Japan
o China
o India
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
• MEA
o South Africa
o Saudi Arabia
o UAE
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.