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Psoriatic Arthritis Treatment Market to surpass USD 17.33 Billion by 2030 owing to the increasing number of psoriasis patients.

02-06-2024 02:13 PM CET | Health & Medicine

Press release from: SNS Insider Pvt Ltd

Psoriatic Arthritis Treatment Market

Psoriatic Arthritis Treatment Market

Based on SNS Insider's research, leading pharmaceutical companies are striving to address the unmet medical needs of severe psoriatic arthritis patients through new product development.

Market Size-

The SNS Insider report indicates that the Psoriatic Arthritis Treatment Market was valued at USD 8.51 Billion in 2022, and is expected to reach market size of USD 17.33 Billion by 2030, with a compound annual growth rate (CAGR) of 9.3% expected over the forecast period from 2023 to 2030.

Market Report Scope -

The global psoriatic arthritis treatment market is driven by the intensive research undertaken to provide therapy for patients with psoriasis. Investments by major companies in research and development, new product launches, increasing prevalence of diseases and proactive government initiatives are other factors that support the growth of the sector. The growth of the market in the future may be hampered by factors, e.g. increasing costs of treatment, stringent approval requirements and adverse reactions to medicinal products.

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Key players
-Sun Pharmaceutical Industries Ltd.,
-Pfizer Inc.,
-AstraZeneca,
-Abbvie Inc.,
-Teva Pharmaceuticals Industries Ltd.,
-Novartis AG,
-Ampio Pharmaceuticals Inc.,
-Amgen Inc.,
-Merck & Co Inc.,
-Boehringer Ingelheim International GmbH and
-other players

Market Opportunities-

Increase Incidence of Psoriatic Arthritis
Psoriatic arthritis incidence has been steadily growing over the past few years, which has been associated with aging populations, genetic alterations, stressful lifestyles, and increasing life expectancy. Millions of people in the United States and around the world are affected by psoriasis and psoriatic arthritis, according to the National Psoriasis Foundation. According to the most recent research, there are over 8 million psoriasis patients in the United States. According to the World Psoriasis Day initiative, there are 125 million people in the world with psoriasis and two to three percent of the population. Approximately 30% of patients with psoriasis are affected. Therefore, the rate of this prevalence needs to be treated at a higher rate and thus leads to an increase in market growth.

Segmentation Analysis -

By Drugs Class
-Non-biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs)
-Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs)
-Non-steroidal Anti-inflammatory Drugs (NSAIDs)
-Others

By Route of Administration
-Topical
-Oral
-Parenteral

By Distribution Channel
-Hospital Pharmacies
-Online Pharmacies
-Retail Pharmacies

Based on drug class, the psoriasis treatment market is segmented as TNF inhibitors, interleukins inhibitors, vitamin D analogs, and other drug classes. The interleukins inhibitors segment accounted for the largest share of 46.6% in 2022. Interleukin inhibitors have demonstrated significant success in the treatment of psoriasis. They directly target the inflammatory processes associated with the development and progression of psoriasis, resulting in considerable clinical relief and better skin clearing. Clinical trials have shown that they can provide immediate and persistent responses, making them a viable therapy choice for people with moderate to severe psoriasis.

Based on distribution channel, the psoriasis treatment market is segmented as hospital pharmacies, retail pharmacies, and other distribution channels. The hospital pharmacies segment held a dominant market share of 64.8% in 2022 and is expected to grow at a CAGR of 8.4% by 2032. Hospital pharmacies frequently have access to specialised drugs and therapies that may not be easily available in other healthcare settings. This is especially crucial for those who have severe or resistant psoriasis and require advanced therapy. Biologic drugs, immunomodulators, and other targeted medicines that require specialised handling and administration can be obtained and provided by pharmacies.

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Key Regional Development -

The market in North America is expected to grow due to increased demand for psoriatic medicines, driven by the rising burden of this disease in the U.S. According to the National Psoriasis Foundation, more than 8 million people in the United States suffer from psoriasis. Furthermore, the chances of a child developing psoriasis are about 10% if both parents have this disease. These numbers are set to continue in the forthcoming years, thereby driving the demand for psoriasis orthotics drugs.

The Europe market is expected to be supported by an increasing incidence of psoriasis bone pain in the United Kingdom population. Various pharmaceutical companies are expected to introduce unique treatment options in this country with a view to preventing such chronic effects of psoriatic arthritis. For example, the U.K.'s National Institute for Health and Care Excellence (NICE) issued a Final Appraisal Determination (FAD) in January 2022, for recommending Rinvoq (upadacitinib) 15mg manufactured by AbbVie as a novel option for treating adult patients with active psoriatic arthritis. In these patients, it may be administered in combination with methotrexate or separately. The market in the United Kingdom is therefore expected to be driven by ongoing development and approval of new medicines, aimed at preventing psoriatic arthritis bone pain as well as additional effects associated with psoriatic arthritis.

Key Takeaway from Psoriatic Arthritis Treatment Market Study-

Market growth: Due to the increased incidence of psoriatic arthritis and the development of more efficient treatments, the global market for psoriatic arthritis treatment has continued to grow at a steady rate.

Biologic therapy: The role of biologic therapies in the treatment of PsA has been significant. These medicines are designed for the purpose of targeting a particular set of immunological components that contribute to inflammation.

Small molecule therapy for PsA: Small molecule therapy for PsA has also been developed in addition to biologics. Such inhibitors include Janus kinase inhibitors, such as tofacitinib, which target specific signaling pathways associated with inflammation.

Recent Development Related to Psoriatic Arthritis Treatment Market-

In November 2023, Takeda announced that the company would present positive results from its randomized, double blind, placebo-controlled study, Phase 2b trial evaluating ТАК-279, an investigational oral, allosteric tyrosine kinase 2 (TYK2) inhibitor with next-generation selectivity, in patients with active psoriatic arthritis.

In September 2022, the U.S. Food and Drug Administration approved Bristol Myers Squibb's Sotyktu (deucravacitinib) oral treatment for adults with moderate-to-severe plaque psoriasis. It is an oral, selective, allosteric tyrosine kinase inhibitor2 which is the first of its kind.

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Table of Contents

1.Introduction

2.Research Methodology

3.Market Dynamics

4.Impact Analysis

4.1COVID-19 Impact Analysis

4.2.Impact of Ukraine- Russia war

4.3.Impact of Ongoing Recession on Major Economies

5.Value Chain Analysis

6.Porter's 5 Forces Model

7.PEST Analysis

8.Psoriatic Arthritis Treatment Market Segmentation, By Drugs Class

9.Psoriatic Arthritis Treatment Market Segmentation, By Route of Administration

10.Psoriatic Arthritis Treatment Market Segmentation, By Distribution Channel

11.Regional Analysis

12. Company Profile

13.Competitive Landscape

14.Use Case and Best Practices

Conclusion

continued

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Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
Website: https://www.snsinsider.com

About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the worl

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