The market for psoriatic arthritis treatments was estimated to be worth USD 8,700 million in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% to reach around USD 21,500 million in 2030. The primary factors driving the growth of the global psoriatic arthritis treatment market are the rise in biologic and biosimilar treatments, the incidence of psoriatic arthritis, the development of R&D activities to manufacture new drugs for the therapy of psoriatic arthritis, the surge in demand for psoriatic arthritis treatment products, the aging of the population, the robust pipeline of biologic and biosimilar products, and the rise in awareness regarding psoriatic arthritis treatment. However, it is projected that the high expense of care and the lack of regularization tools for diagnosis would impede market expansion.
Overweight and obesity are seen as excessive or erratic fat accumulations that are harmful to one’s health. 1.9 billion people who were 18 years of age or older were overweight in 2016. Among them, nearly 650 million people were overweight. In 2016, 13% of adults over the age of 18 were obese and 39% were overweight. Similarly, 39 million or so children under the age of five were overweight or obese in 2020. 340 million children and teenagers between the ages of 5 and 19 were classified as overweight or obese in 2016. Therefore, it is anticipated that as the prevalence of obesity increases, so too will the risk of psoriatic arthritis.
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Psoriatic Arthritis Treatment Market Segmentation
By Treatment
- Non-steroidal Anti-inflammatory Drugs (NSAIDS)
- Non-biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs)
- Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs)
Regional Scope
- North America
- Europe
- Asia Pacific
- Latin America
Key Players
- Bayer AG
- Bristol-Myers Squibb Company
- AstraZeneca
- Johnson & Johnson Services, Inc.
- Pfizer Inc.
- Eli Lilly and Company
- Novartis AG
- GlaxoSmithKline plc.
- F. Hoffmann-La Roche Ltd
- Amgen
- Sanofi
Market Driver
1. High Prevalence of Obesity
Generally speaking, excessive or irregular fat accumulations that are harmful to one’s health are what define obesity and overweight. Approximately 1.9 billion people who were 18 years of age or older were overweight in 2016. Of those, it was discovered that over 650 million were obese. In 2016, 13% of people over the age of 18 were obese, and 39% of overweight people. 39 million children under the age of five were overweight or obese in 2020. In 2016, an estimated 340 million children and teenagers between the ages of 5 and 19 were classified as overweight or obese. Therefore, it is anticipated that as obesity becomes more common, so will the risk of psoriatic arthritis. This accelerates market expansion.
2. Growing Research Activities
The main goal of major market participants is to improve their product portfolio by obtaining regulatory body approvals. Throughout the forecast period, this is anticipated to accelerate market expansion. In July 2013, for example, Janssen-Cilag International NV (Janssen) announced that the European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP) recommended the use of STELARA (ustekinumab), either alone or in combination with methotrexate, for the treatment of adult patients with active psoriatic arthritis when the response to prior non-biological disease-modifying anti-rheumatic drug (DMARD) is not satisfactory. As a result, this element promotes market expansion.
Opportunity
1. Increase Incidence of Psoriatic Arthritis
Over the past few years, there has been a steady increase in the occurrence of psoriatic arthritis, which has been linked to aging populations, genetic changes, stressful lifestyles, and longer life expectancies. Millions of people in the United States and throughout the world suffer from psoriasis and psoriatic arthritis, according to the National Psoriasis Foundation. According to recent studies, about 8 million Americans suffer from psoriasis. As per the World Psoriasis Day campaign, 125 million people worldwide, or 2 to 3% of the total population, suffer from psoriasis. About 30% of psoriasis sufferers are affected. As a result, this prevalence rate drives up treatment rates and accelerates market expansion.
2. Increased Demand for Biologics
The market for psoriatic arthritis treatments is expanding as a result of the growing development of innovative remedies. This is stimulating innovation among the leading companies in the industry, helping the psoriatic arthritis treatment sector to grow. According to the most recent analysis, approximately three-quarters of the market’s total value is accounted for by the demand for DMARDs. While injectables remain the preferred mode of therapeutic administration for most psoriatic arthritis patients, the growing market share of upscale oral medicines is making oral therapy more appealing. As a result, this element promotes market expansion.
Market Challenges
Throughout the projection period, the widespread availability of alternative treatments for psoriatic arthritis is expected to limit market growth. For example, one of the most common orthopedic treatments performed in the United States each year is the replacement of a hip or knee, with around one million such surgeries carried out nationwide, according to The Center Orthopedic & Neurosurgical Care & Research. Globally, the number of knee replacement surgeries is predicted to increase by 673% to 3.5 million years by 2030. It is estimated that at least one knee will experience osteoarthritis throughout the lifespan of around half of adult Americans. As a result, this issue hinders market expansion.
This market report on psoriatic arthritis treatments includes information on recent developments, trade laws, import-export policies, production analyses, value chain optimization, market share, and the effects of local and domestic market players. It also analyzes potential revenue opportunities and changes in market regulations, as well as market size, category market growth, application dominance and niches, product approvals, launches, and geographic market expansions. For an analyst brief and other information on the psoriatic arthritis treatment market, get in touch with Data Bridge Market Research. Our staff can assist you in making well-informed decisions that will lead to market expansion.
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