Psoriatic Arthritis Market research report has been delivered to depending upon the business pre-requisites. This market report highlights key market dynamics of sector and encompasses historic data, present market trends, environment,

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Market Analysis and Size

Psoriatic arthritis is a type of arthritis that affects some people who have psoriasis, a skin ailment marked by red areas and silvery scales. The majority of patients get psoriasis first and then get psoriatic arthritis later; however joint issues might start before the skin patches do. The main indications and symptoms of psoriatic arthritis include joint pain, stiffness, and edema. Psoriatic arthritis can strike any region of your body, including your fingertips and spine, and symptoms can range from moderate to severe. Psoriatic arthritis can affect either one or both sides of the body’s joints.

Data Bridge Market Research analyses that the psoriatic arthritis (PsA) market was valued at USD 11.26 billion in 2021 and is expected to reach USD 23.10 billion by 2029, registering a CAGR of 9.40% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Some of the major players operating in the psoriatic arthritis (PsA) market are:

Pfizer Inc. (U.S.)

GlaxoSmithKline plc (U.K.)

Novartis AG (Switzerland)

Mylan N.V. (U.S.)

Teva Pharmaceutical Industries Ltd. (Israel)

Sanofi (France)

Boehringer Ingelheim International GmbH. (Germany)

AstraZeneca (U.K.)

Johnson & Johnson Private Limited (U.S.)

Bayer AG (Germany)

Merck & Co., Inc. (U.S.)

F. Hoffmann-La Roche Ltd. (Switzerland)

Bristol-Myers Squibb Company (U.S.)

Cadila Pharmaceuticals (India)

Eli Lilly and Company (U.S.)

LEO Pharma A/S (Denmark)

Cipla Inc. (U.S.)

Aurobindo Pharma (India)

Lupin (India)

Sumitomo Corporation (Japan)

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Psoriatic Arthritis (PsA) Market Dynamics

Drivers

Rise in the prevalence of psoriatic arthritis (PsA)

The rising prevalence of psoriatic arthritis (PsA) is a major factor driving the psoriatic arthritis (PsA) market’s growth rate. Psoriatic arthritis is a degenerative disease that is linked to psoriasis. The condition can cause irreparable joint damage if not treated properly and promptly. Although the specific cause of the disease is unknown, research reveals that genetic factors are responsible for approximately 40% of cases.

Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of psoriatic arthritis (PsA) market is the rising healthcare expenditure which helps in improving its infrastructure.

Furthermore, rising initiatives by public and private organizations to spread awareness about the will expand the psoriatic arthritis (PsA) market. Additionally, high disposable income and changing lifestyle of people will result in the expansion of psoriatic arthritis (PsA) market. Along with this, the rising geriatric population and surge in biological therapy approval will enhance the market’s growth rate.

Opportunities

Increase in the number of research and development activities

Moreover, the market’s growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the psoriatic arthritis (PsA) market growth. The launch of breakthrough medicines in the psoriatic arthritis treatment market is driving research-driven understanding of the pathophysiology of psoriatic arthritis, stimulating innovations among market participants – thereby promoting the growth of the psoriatic arthritis treatment market. Targeted biological therapy has a good success rate in producing transient pain alleviation in patients with psoriatic arthritis, and hence continues to hold a promising position in the psoriatic arthritis treatment market.

Moreover, rising investment for the development of advanced technologies and an increase in the number of emerging markets will further provide beneficial opportunities for the growth of psoriatic arthritis (PsA) during the forecast period.

Restraints/Challenges

On the other hand, high cost of the medication will obstruct the growth rate of market. The lack of healthcare infrastructure in developing economies and low awareness about psoriatic arthritis (PsA) and its associated complications will pose major challenges to the market’s growth rate. Additionally, the dearth of favorable reimbursement policies will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.

This psoriatic arthritis (PsA) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the psoriatic arthritis (PsA) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Patient Epidemiology Analysis

The psoriatic arthritis (PsA) market also provides detailed market analysis for patient analysis, prognosis, and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.

Recent Development

In December 2021, AbbVie announced the U.S. Food and Drug Administration (FDA) approval of RINVOQ (upadacitinib; 15 mg, once daily) for treating adults with active psoriatic arthritis (PsA) who have had an inadequate response or intolerance to one or more tumor necrosis factor (TNF) blockers. RINVOQ is a JAK inhibitor that is being researched for use in various immune-mediated inflammatory disorders. RINVOQ showed stronger inhibitory potency for JAK-1 compared to JAK-2, JAK-3, and TYK-2 in enzymatic and cellular studies.

Global Psoriatic Arthritis (PsA) Market Scope

The psoriatic arthritis (PsA) market is segmented on the basis of types, treatment, diagnosis, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Types

Symmetric PsA

Asymmetric PsA

Spondylitis PsA

Psoriatic Arthritis Mutilans

Distal Interphalangeal Predominant PsA

Treatment

Medication

Non-steroidal anti-inflammatory drugs (NSAIDs)

Disease-modifying antirheumatic drugs (DMARDs)

Immunosuppressant

Corticosteroids

Others

Surgery

Joint replacement surgery

Others

Others

Diagnosis

X-rays

Magnetic Resonance Imaging (MRI)

Others

Route of Administration

Oral

Topical

Others

End-Users

Hospitals

Specialty Clinics

Homecare

Others

Distribution Channel

Hospital Pharmacy

Retail Pharmacy

Online Pharmacy

Others

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Competitive Landscape and Psoriatic Arthritis (PsA) Market Share Analysis

The psoriatic arthritis (PsA) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to psoriatic arthritis (PsA) market.

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