New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Psoriatic Arthritis Treatment Global Market Report 2023" - https://www.reportlinker.com/p06241882/?utm_source=GNW
The global psoriatic arthritis treatment market is expected to grow from $7.89 billion in 2021 to $8.92 billion in 2022 at a compound annual growth rate (CAGR) of 13.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The psoriatic arthritis treatment market is expected to reach $13.17 billion in 2026 at a CAGR of 10.2%.
The psoriatic arthritis treatment market includes revenues earned by entities by reduce pain and swelling and controlling inflammation and pain.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
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.
The main classes of drugs in psoriatic arthritis treatment are nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying anti-rheumatic drugs (DMARDs), biologics, and others.A biologic medicament (biologics) is a substance made from living creatures or containing living organism components.
The different routes of administration include oral, parenteral, and topical and are distributed through various channels such as hospital pharmacies, retail pharmacies, and online pharmacies.
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 disease drives market growth.
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 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 has 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).
Amgen Inc., an American biopharmaceutical company headquartered in Thousand Oaks, California, acquired Celgene’s Otezla for $13.4 billion. Otezla supports Amgen’s mission to bring innovative medicines to patients and expand its product portfolio. Amgen also gets worldwide rights with Otezla’s acquisition. Otezla (apremilast) is indicated for the treatment of patients with moderate to severe plaque psoriasis and active psoriatic arthritis. Celgene Corporation is a US-based biopharmaceutical company, acquired by Bristol-Myers Squibb Company, which develops and markets drugs used in the treatment of cancer and anti-inflammatory diseases.
The regions covered in the psoriatic arthritis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the psoriatic arthritis treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The psoriatic arthritis treatment market research report is one of a series of new reports that provides psoriatic arthritis treatment market statistics, including psoriatic arthritis treatment industry global market size, regional shares, competitors with a psoriatic arthritis treatment market share, detailed psoriatic arthritis treatment market segments, market trends and opportunities, and any further data you may need to thrive in the psoriatic arthritis treatment industry. This psoriatic arthritis treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06241882/?utm_source=GNW
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