Pune, Aug. 13, 2019 (GLOBE NEWSWIRE) -- The global Psoriatic Arthritis Treatment Market is likely to gain momentum from a rise in the prevalence of psoriatic arthritis across the world. According to a published report by Fortune Business Insight, titled, “Psoriatic Arthritis Treatment Market: Global Market Analysis, Insights, and Forecast, 2018-2026,” the global Psoriatic Arthritis Treatment Market was valued at US$ 5,793.3 Mn in 2018. The market is anticipated to reach US$ 12,175.2 Mn by 2026, exhibiting a CAGR of 8.5% between 2018-2026. Moreover, the report suggests that the lifestyles of people are slowly becoming stressful, leading to the overstimulation of immune system. This in turn, is resulting in an increasing incidence of psoriatic arthritis in developing as well as developed countries. All these factors are expected to contribute to the global Psoriatic Arthritis Treatment Market growth during the forecast period.
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Increasing Adoption of Biological Therapies to Favor Growth of Biological Disease Modifying Anti-Rheumatic Drugs Segment
The report classifies the global Psoriatic Arthritis Treatment Market on the bases of drug class, route of administration, distribution channel, and geography. By drug class, the global market is grouped into Non-Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs), Non-steroidal Anti-inflammatory Drugs (NSAIDS), Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs), and others. Amongst these, the Biologic Disease Modifying Anti-Rheumatic Drugs segment had gained 63.4% global Psoriatic Arthritis Treatment Market share in the year 2018. Fortune Business Insights predicts that the segment will remain in the dominant position throughout the forecast period owing to the rising adoption of biological therapies. This is because such therapies are very efficient in managing psoriatic arthritis. By route of administration, the market is divided into parenteral, oral, and topical. The parenteral route of administration is anticipated to procure major share of the global Psoriatic Arthritis Treatment Market. This is because most of the biological products are only provided by parenteral route.
Major Market Players, such as AbbVie Inc. and Pfizer Inc. Focus on Achieving Drug Approvals to Gain Competitive Edge
AbbVie Inc., a publicly traded biopharmaceutical company, based in the U.S., announced in March 2019 that the Japanese Ministry of Health, Labor and Welfare (MHLW) approved its product called SKYRIZI (risankizumab). SKYRIZI is an interleukin-23 (IL-23) inhibitor that is used for the treatment of erythrodermic psoriasis, plaque psoriasis, psoriatic arthritis, and generalized pustular psoriasis in those adults who have difficulties in having an inadequate response to conventional therapies. SKYRIZI also causes improvements in the signs and symptoms of immune-mediated and chronic diseases.
Novartis AG, a multinational pharmaceutical company headquartered in Switzerland, announced that the company has received the approval of European Commission (EC) for Cosentyx label update in Europe in October 2018. Cosentyx is the only fully-human treatment that inhibits interleukin-17A (IL-17A) in psoriatic arthritis. The new update offers a dosing flexibility of up to 300 mg that will aid clinicians in choosing the best dose for their patients.
Pfizer Inc., a multinational pharmaceutical corporation, based in the U.S., announced that the USFDA approved Infliximab in December 2017. Infliximab is a chimeric human-murine monoclonal antibody (mAb)that fights against tumor necrosis factor. It is a biosimilar to Remicade. It helps in treating Crohn's disease, plaque psoriasis, ankylosing spondylitis, rheumatoid arthritis, psoriatic arthritis, and ulcerative colitis.
Earlier, in December 2017, Eli Lilly and Company, a pharmaceutical company headquartered in Indiana, announced that the USFDA approved Taltz (ixekizumab) injection 80 mg/ml. It will be used for the treatment of adults with active psoriatic arthritis (PsA).
Fortune Business Insights profiles some of the prominent market players that are currently operating in the global Psoriatic Arthritis Treatment Market. They are AbbVie Inc., Merck & Co., Inc., UCB S.A., Novartis AG, Celgene Corporation, Johnson & Johnson Services, Inc., Sun Pharmaceutical Industries Ltd., Pfizer Inc., Eli Lilly and Company, LEO Pharma A/S, Amgen Inc., and other prominent market players.
Psoriatic Arthritis Treatment Market, Key Players
- AbbVie Inc.
- Novartis AG
- Johnson & Johnson Services, Inc.
- Pfizer Inc.,
- LEO Pharma A/S
- Merck & Co., Inc.
- Amgen Inc.
- Eli Lilly and Company
- CELGENE CORPORATION
- UCB S.A.
- Sun Pharmaceutical Industries Ltd.
- Other prominent players
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Table of Content:
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Psoriatic Arthritis for Key Countries/Region
- Recent Industry Developments Such as Partnerships, Mergers & Acquisitions, New Product Launches Etc.
- Pipeline Analysis for Key Companies
- Regulatory Framework by Key Countries
- Global Reimbursement Scenario
- Global Psoriatic Arthritis Treatment Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Non-steroidal Anti-inflammatory Drugs (NSAIDS)
- Non-biologic Disease Modifying Anti-Rheumatic Drugs
- Biologic Disease Modifying Anti-Rheumatic Drugs
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Parenteral
- Topical
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
- Competitive Analysis
- Strategic Recommendations
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