NEW YORK, USA, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Psoriatic Arthritis Market Size, Share, Growth Analysis Report By Route Of Administration (Parenteral, Oral, and Topical), By Drug Class (Non-Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs), Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), and Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs)), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and Online Pharmacies), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030” in its research database.
“According to Facts and Factors, the global psoriatic arthritis market size was worth around USD 8.82 billion in 2021 and is predicted to grow to around USD 22.23 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.35% between 2022 and 2030.”
Psoriatic Arthritis Market Overview:
Psoriatic arthritis causes swelling, stiffness, and pain in the joints and the areas around them. As per estimates, the medical condition affects 3 out of 10 people who are already affected by the skin condition called psoriasis which results in the development of scaly red patches on the skin which is covered with silver and flaky patches. Both conditions are autoimmune diseases which means that they are caused due to a fault in the immune system which is otherwise responsible for protecting the body against illnesses and diseases.
However, in autoimmune diseases, the system confuses healthy body cells with harmful cells and starts attacking them resulting in inflammation. Psoriatic arthritis belongs to a group of diseases called spondyloarthritis. These conditions have very similar symptoms and hence they are difficult to be easily diagnosed. People already diagnosed with psoriasis may also get affected by other variations of arthritis like rheumatoid arthritis or osteoarthritis. Some common symptoms of psoriatic arthritis are swelling in and around one or more joints, persistent joint pain, and stiffness which may worsen after a period of resting and lasts for more than 30 minutes.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2021 | USD 8.82 Billion |
| Projected Market Size in 2030 | USD 22.23 Billion |
| CAGR Growth Rate | 11.35% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2030 |
| Key Market Players | Bausch Health Companies Inc., Amgen Inc., Bristol-Myers Squibb Company, AbbVie Inc., UCB S.A, Johnson & Johnson Services, AstraZeneca PLC, Eli Lilly and Company Inc., Pfizer Inc., and Celgene Corp., and Others |
| Key Segment | By Route Of Administration, Drug Class, Distribution Channel, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Key Insights from Primary Research
- As per the analysis, the psoriatic arthritis market share is likely to grow above a CAGR of around 11.35% between 2022 and 2030.
- The Psoriatic Arthritis market size was worth around US$ 8.82 billion in 2021 and is estimated to hit approximately US$ 22.23 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The market is projected to grow at a significant rate due to the growing number of patients suffering from psoriasis
- Based on the route of administration segmentation, parenteral was predicted to show maximum market share in the year 2021
- Based on distribution channel segmentation, hospital pharmacies were the leading channels in 2021
- On the basis of region, North America was the leading revenue generator in 2021.
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Industry Growth Drivers
The global psoriatic arthritis market is projected to grow with factors like the lack of knowledge amongst the population about the condition which results in delayed detection of the disease which can lead to the condition reaching advanced stages before it is diagnosed or treated. The global medical community does not have information on the main cause of the disease which makes it difficult to generate an accurate and effective cure for the disease. In the case of disease diagnosis, the treatment available can only assist in managing the symptoms.
As per studies, several environmental and genetic factors can play a role in the triggering of the autoimmune disease. Studies have concluded that people with psoriatic arthritis generally have a family history linked to either psoriasis or the associated arthritis condition. If the tendency is inherited, the person is more at risk in case of physical trauma or bacterial infection.
Restraints
One of the major factors that could limit global market growth is the lack of necessary infrastructure across underdeveloped or emerging nations for the accurate detection and treatment of the condition. Since the symptoms of psoriatic arthritis resemble that of other forms of arthritis, disease diagnosis largely depends on the skill set of the medical professional handling the case. The side effects of the treatment medicines like heart problems, stomach irritation, and kidney or liver damage act as barriers to global market growth.
Opportunities & Challenges
The growing research & development may provide growth opportunities whereas the absence of early detection tools could challenge market growth.
Psoriatic Arthritis Market: Segmentation Analysis
The global psoriatic arthritis market is segmented based on route of administration, drug class, distribution channel, and region
Based on route of administration, the global market is divided into parenteral, oral, and topical
- In 2021, the global market registered the highest growth in the parenteral segment because this method has proven more effective in treating the symptoms
- Most of the medical treatment plans use various biological medications that require to be administered under a controlled environment and systematically, which can be achieved with the highest accuracy using parenteral ways
- Methotrexate is the most common medication used to treat severe psoriasis with a usual dose of 7.5 milligrams to 25 milligrams per week. The solution can be injected intramuscularly or under the skin
Based on drug class, the global market is divided into non-biologic disease modifying anti-rheumatic drugs (DMARDs), non-steroidal anti-inflammatory drugs (NSAIDs), and biologic disease modifying anti-rheumatic drugs (DMARDs).
- In 2021, the global market was dominated by biologic disease modifying anti-rheumatic drugs and non-biologic disease modifying anti-rheumatic drugs
- The most common DMARDs medicines used for the treatment are sulfasalazine, methotrexate, leflunomide, and hydroxychloroquine
- Conventional DMARDs affect the immune system as a whole whereas biologics are used for target therapy
- If medications are taken regularly, reports claim that almost 60% of the patients will show minimal disease activity within one year of treatment
Based on distribution channel, the global market is divided into retail pharmacies, hospital pharmacies, and online pharmacies.
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Regional Analysis:
North America is projected to lead the global psoriatic arthritis market mainly driven by the excellent medical infrastructure of the US and Canada as well as higher accessibility amongst patients to quality and effective medical care. The growing investment rate toward the research associated with the development of new diseases along with exploring the field of biological drugs could lead to higher regional revenue.
Growth in Europe is expected to be led by the rising geriatric population leading to a higher disease diagnosis rate and subsequent treatment. Psoriatic arthritis is more common in people between the age group of 35 years to 50 years. The growing number of people above the age of 35 years is expected to become a growth contributing factor.
Competitive Players
The report contains qualitative and quantitative research on the global psoriatic arthritis market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global psoriatic arthritis market include;
- Bausch Health Companies Inc.
- Amgen Inc.
- Bristol-Myers Squibb Company
- AbbVie Inc.
- UCB S.A
- Johnson & Johnson Services
- AstraZeneca PLC
- Eli Lilly and Company Inc.
- Pfizer Inc.
- Celgene Corp.
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Recent Industry Developments:
- In November 2022, the JAMP Pharma Group announced the launch of Apremilast. It is an affordable specialist generic version of the original Otezla which is marketed by Amgen Canada Inc. The medicine is supposed to be used in combination with methotrexate or alone for adult patients suffering from mild to severe forms of psoriatic arthritis
- In December 2021, the United States Food and Drugs Administration (FDA) approved Cosentyx, developed by Novartis for treating psoriatic arthritis and enthesitis-related arthritis in adolescents and children
The global psoriatic arthritis market is segmented as follows:
By Route Of Administration
- Parenteral
- Oral
- Topical
By Drug Class
- Non-Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs)
- Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
- Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs)
By Distribution Channel
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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