SEATTLE, Sept. 14, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global psoriatic arthritis treatment market is estimated to be valued at US$ 10,100.9 million in 2021 and is expected to exhibit a CAGR of 8.4% over the forecast period (2021-2028).
Key Trends and Analysis of the Global Psoriatic Arthritis Treatment Market:
Key trends in the market include increasing incidence of psoriatic arthritis, growing prevalence of psoriasis, increasing product launches and approval, and increasing inorganic growth strategies such as collaborations, mergers, acquisitions, and distribution agreements among key players. These key trends are expected to aid in growth of psoriatic arthritis treatment market.
For instance, according to a review article by Seminars in Arthritis and Rheumatism Journal published in August 2018, the global incidence of psoriatic arthritis is expected to increase in the near future at the rate of 83 cases every 100,000 people per year.
Moreover, increasing approvals of novel products is expected to drive the market growth over the forecast period. For instance, in February 2021, the U.S. Food and Drug Administration (FDA) approved Apremilast drug (Otezla), which is manufactured by Celgene Corporation, a U.S.-based pharmaceutical company. Apremilast can be used as a generic drug available in 10 mg, 20 mg, and 30 mg tablets to treat inflammatory autoimmune disorders such as Behcet’s Syndrome, plaque psoriasis, and psoriatic arthritis.
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Furthermore, key players operating in the global psoriatic arthritis treatment market are focusing on adoption of inorganic growth strategies such as acquisitions and collaborations, in order to expand their market presence in the global market. For instance, in November 2019, Amgen Inc., a U.S.-based biotechnology company, announced the acquisition of Otezla (Apremilast) which is manufactured by Celgene Corporation. Otezla (Apremilast) is a non-biologic drug used to treat psoriatic arthritis, Behcet’s Syndrome, and plaque arthritis in adults.
Key Market Takeaways:
The global psoriatic arthritis treatment market is expected to exhibit a CAGR of 8.4% over the forecast period, owing to the presence of strong pipeline products. For instance, in August 2020, Cadila Pharmaceuticals, an India- based pharmaceutical company, launched its drug Cadalimab for the treatment of autoimmune diseases such as psoriatic arthritis, psoriasis, and others. Cadalimab is a biosimilar of Adalimumab (brand name Humira), which is manufactured by AbbVie Inc., a U.S.-based biopharmaceutical company.
Among drug class, biologics segment is expected to account for the largest market share in 2021, owing to market players focusing on obtaining drug approvals. For instance, in July 2020, Janssen Biotech, Inc., a U.S.-based biotechnology company received the U.S. FDA approval for its drug Guselkumab (Tremfya) to be used in the treatment of psoriatic arthritis. Guselkumab is a biologic drug which was previously approved by the U.S. FDA for treatment of psoriasis.
Competitive Landscape:
Key players operating in the global psoriatic arthritis treatment market include AbbVie Inc., Otsuka Pharmaceutical Co., Ltd., Amgen Inc., Sanofi S.A., Johnson & Johnson Services, Inc., Novartis International AG, AstraZeneca, Bausch Health Companies Inc., Janssen Biotech, Inc., Bristol-Myers Squibb Company, , Eli Lilly and Company, Pfizer, Inc., UCB S.A., Sun Pharma Global FZE, AltruBio, Merck & Co Inc., and Celgene Corporation.
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Market Segmentation:
- Global Psoriatic Arthritis Treatment Market, By Drug Class:
- NSAIDs (Non-steroidal Anti-inflammatory Drugs)
- DMARD (Non-biologic Disease-Modifying Anti-Rheumatic Drugs)
- Biologics
- Others (Others includes Immunosuppressant, Enzyme Inhibitor, and Interleukin Inhibitors)
- Global Psoriatic Arthritis Treatment Market, By Disease Type:
- Asymmetric Psoriatic Arthritis
- Symmetric Psoriatic Arthritis
- Distal Interphalangeal Predominant (Dip) Psoriatic Arthritis
- Psoriatic Spondylitis
- Psoriatic Arthritis Mutilans
- Global Psoriatic Arthritis Treatment Market, By Drug Type:
- Prescriptions
- Over-the-counter
- Global Psoriatic Arthritis Treatment Market, By Route of Administration:
- Topical
- Oral
- Injectable
- Global Psoriatic Arthritis Treatment Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Psoriatic Arthritis Treatment Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
- North America
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