Global Psoriatic Arthritis Treatment Market outline
Psoriatic Arthritis is a form of arthritis developed in people affected by psoriasis. It causes affected joints to become swollen, stiff and painful. Most of the people affected to psoriasis first and later diagnosed with psoriatic arthritis. Approximately 15-25% of people with psoriasis can develop psoriatic arthritis. Symptoms associated with psoriatic arthritis include swollen joint, low back pain, nail pitting, conjunctivitis, and foot pain among others.
Increase in the prevalence of psoriasis results to rise in number of psoriatic arthritis patients is a key factor enhance the revenue of the market. Moreover, rise in R&D for the innovation of newer products, pipeline drugs under various stages of clinical trials, frequent product launchings by the market players, and increase in the awareness about psoriatic arthritis treatment among the healthcare professionals are expected to drive the global psoriatic treatment market over the forecast years. However, stringent regulations for the product approval, high cost of treatment, entry of biosimilars into market, and lack of standardization tools for diagnosis and treatment are restraining the growth of the market.
Global psoriatic arthritis treatment market was valued at US $ XX Mn and expected to grow at 10.5% Compound Annual Growth Rate (CAGR) from 2018 to 2024.
Global Psoriatic Arthritis Treatment Market Segmentation
The market is segmented based on drug class, disease condition, route of administration, and distribution channels
Based on drug class, market is segmented into the following:
- Non-Steroidal Anti Inflammatory Drugs (NSAIDs)
- TNF Alfa Inhibitors
- Interleukin Inhibitors
- PDE4 Inhibitors
Based on disease condition, market is segmented into the following:
Based on the route of administration, market is segmented into the following:
Based on the distribution channel, the market is segmented into the following:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Psoriatic Arthritis Treatment Market Regional Analysis
Geographically the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America psoriatic arthritis treatment market is poised to grow due to rise in R&D for the innovation of newer drugs, increase in the prevalence of psoriatic arthritis in U.S., and grow in healthcare expenditure are bolster the market. Europe psoriatic arthritis treatment market is driving by rise in adoption of newer therapeutics, increase in government funding for healthcare sector, and promising pipeline products are surge the market. Asia Pacific psoriatic arthritis treatment market has prominent share attributed to large patient pool in India and China, launching of newer products in Asia Pacific region, and development in healthcare infrastructure are boost the market over the forecast years.
Competition Assessment: Global Psoriatic Arthritis Treatment Market
- Bristol-Myers Squibb Company (U.S.)
- Hoffmann La Roche Ltd. (Switzerland)
- Novartis AG (Switzerland)
- Amgen, Inc. (U.S.)
- Hohnson & Johnson Services, Inc. (U.S.)
- AbbVie Inc. (U.S.)
- Eli Lilly & Co. (U.S.)
- UCB Inc. (Belgium)
- Celgene Corporation (U.S.)
- Valeant Pharmaceuticals International, Inc. (U.S.)
Notable Market Developments:
In January 2018, Eli Lilly and Company received EU marketing authorization for Taltz (Ixekizumab) for the treatment of psoriatic arthritis