SEATTLE, Nov. 11, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global psoriatic arthritis market is estimated to be valued at US$ 8953.3 million in 2021 and is expected to exhibit a CAGR of 11.40% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Psoriatic Arthritis Market:
Key trends in the market include increasing engagement of government regulatory organizations in transforming healthcare and medical field using new techniques, increasing adoption of drugs for psoriatic arthritis pain, drug launches, inorganic activities such as collaborations and others.
The increasing prevalence of psoriatic arthritis is expected to drive the market growth over the forecast period. For instance, in January 2019, according to a report published in National Center for Biotechnology Information, in children and adolescents (<18 years of age), the pooled prevalence was 3.3%. The psoriatic arthritis (PsA) prevalence was 22.7% in the European patients with psoriasis, 21.5% in the South American patients with psoriasis, 19.5% in the North American patients with psoriasis, 15.5% in the African patients with psoriasis, and 14.0% in the Asian patients with psoriasis.
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The increasing number of drug approvals from regulatory bodies is expected to drive the growth of global psoriatic arthritis market. For instance, in January 2021, AbbVie Inc., a biopharmaceutical company, announced that the European Commission (EC) approved RINVOQTM (upadacitinib, 15 mg), an oral, once daily selective and reversible Janus kinase (JAK) inhibitor for the treatment of active psoriatic arthritis (PsA) in adult patients who have responded inadequately to, or who are intolerant to one or more (disease-modifying antirheumatic drugs) DMARDs.
The increasing number inorganic growth strategies such as partnership, is expected to drive the global psoriatic arthritis market growth. For instance, Mylan N.V., a pharmaceutical company announced that they are partnering with Fujifilm Kyowa Kirin Biologics Co., Ltd. to commercialize a biosimilar to Humira (adalimumab) developed by Fujifilm Kyowa Kirin Biologics. Through the partnership agreement, Mylan will leverage its regulatory platform to seek approval and commercialize the product in the Europe.
Key Market Takeaways:
Increasing prevalence of psoriatic arthritis is expected to drive the growth of the global psoriatic arthritis market over the forecast period. For instance, according to the report published by Dermatology Advisor in August 2018, The prevalence of psoriatic arthritis (PsA) in patients with psoriasis was assessed based on continent. In 119 studies from Europe, the pooled prevalence of PsA in patients with psoriasis was 22.7%; in 59 studies from Asia, 14.0%; in 47 studies from North America, 9.5%; in 10 studies from South America, 21.5%; and in 3 studies from Africa, 15.5%.
Among regions, North America is expected to hold a dominant position in the global psoriatic arthritis market over the forecast period, owing to the increasing number of prevalence of psoriatic arthritis in the region. For instance, in August 2020, according to National Psoriasis Foundation, more than eight million people in the U.S. have psoriasis. 125 million people worldwide have psoriasis, two to three percent of the total population have psoriasis, according to the World Psoriasis Day consortium. An estimated 30% of people with psoriasis also develop psoriatic arthritis.
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Competitive Landscape:
Key players operating in the global psoriatic arthritis market include AbbVie, Inc., Amgen, Inc., Johnson & Johnson Services, Inc., Bristol-Myers Squibb Company, Celgene Corporation, Novartis International AG, Eli Lilly and Company, Pfizer, Inc., UCB S.A., and AstraZeneca plc.
Market Segmentation:
- Global Psoriatic Arthritis Market, By Drug Class:
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- Non-steroidal Anti-inflammatory Drugs (NSAIDS)
- Disease-modifying Antirheumatic Drugs (DMARDs)
- Biologics
- Others
- Global Psoriatic Arthritis Market, By Product Type:
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- Prescription
- Over The Counter
- Global Psoriatic Arthritis Market, By Route of Administration:
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- Topical
- Oral
- Injectable
- Global Psoriatic Arthritis Market, By Distribution Channel:
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- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Psoriatic Arthritis Market, By Region:
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- North America
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- By Country:
- U.S.
- Canada
- By Country:
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- Latin America
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- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
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- Europe
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- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
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- Asia Pacific
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- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
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- Middle East
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- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
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- Africa
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- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
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