Psoriatic Arthritis Therapeutics Market Size, Share, Industry Trends and Forecast to 2030

Psoriatic Arthritis Therapeutics Market Size & CAGR

The global psoriatic arthritis therapeutics market is projected to exhibit a CAGR of 5.2% from 2021 to 2026. The market size in 2021 was estimated to be USD 7.5 billion. The increasing prevalence of psoriatic arthritis, along with the growing emphasis on early diagnosis and treatment, is driving the market growth.

COVID-19 Impact on the Psoriatic Arthritis Therapeutics Market

The COVID-19 pandemic had a significant impact on the psoriatic arthritis therapeutics market. Due to lockdowns and restrictions, many patients faced challenges in accessing healthcare facilities and treatments. However, the increased adoption of telemedicine and online consultations helped in maintaining continuity of care for patients with psoriatic arthritis.

Psoriatic Arthritis Therapeutics Dynamics

Psoriatic arthritis is a chronic autoimmune condition that affects the joints and skin. The market for psoriatic arthritis therapeutics is driven by the rising prevalence of the disease, advancements in treatment options, and increasing awareness among patients and healthcare providers. Biologic therapies have revolutionized the management of psoriatic arthritis and are expected to continue driving market growth.

Segments and Related Analysis

The psoriatic arthritis therapeutics market can be segmented based on therapy type, distribution channel, and region. Therapy types include non-steroidal anti-inflammatory drugs (NSAIDs), disease-modifying antirheumatic drugs (DMARDs), and biologic agents. The distribution channels include hospital pharmacies, retail pharmacies, and online pharmacies. Regionally, North America holds the largest market share due to the high prevalence of psoriatic arthritis and the presence of key market players.

By Region Analysis

- North America: The North American region dominates the psoriatic arthritis therapeutics market, driven by the high prevalence of psoriatic arthritis and the availability of advanced healthcare infrastructure.

- Europe: Europe is another significant market for psoriatic arthritis therapeutics, with a growing focus on research and development in the field of autoimmune diseases.

- Asia Pacific: The Asia Pacific region is witnessing rapid growth in the market, attributed to the increasing awareness about psoriatic arthritis and improving healthcare facilities.

- Latin America: Latin America is expected to show steady growth in the market due to the rising prevalence of psoriatic arthritis and improving access to healthcare.

- Middle East and Africa: The Middle East and Africa region are also witnessing a growing market for psoriatic arthritis therapeutics, driven by the increasing incidence of autoimmune diseases.

Key Market Players and Competitive Landscape

The key players in the psoriatic arthritis therapeutics market include AbbVie Inc., Amgen Inc., Novartis AG, Pfizer Inc., and UCB S.A. These companies are focusing on developing innovative treatments and expanding their product portfolios through research and development activities and strategic partnerships.

Recent Happenings in the Psoriatic Arthritis Therapeutics Market

- In March 2021, Novartis received approval for Cosentyx (secukinumab) for the treatment of active psoriatic arthritis in Japan.

- In August 2021, UCB S.A. announced positive results from a Phase 3 study evaluating bimekizumab in patients with psoriatic arthritis.

- In November 2021, AbbVie Inc. received FDA approval for Rinvoq (upadacitinib) for the treatment of psoriatic arthritis.

- In January 2022, Pfizer Inc. announced positive results from a Phase 3 trial of abatacept in patients with psoriatic arthritis.

Overall, the psoriatic arthritis therapeutics market is witnessing significant growth driven by the increasing prevalence of the disease, advancements in treatment options, and the efforts of key market players to develop innovative therapies.