The report "Global Psoriatic Arthritis Market, By Drug Class (DMARD, NSAIDs, Biologics, and Others), By Product Type (OTC and Prescriptions), By Route of Administration (Oral, Topical, and Injectable), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
• In October, 2020, The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency has recommended approval for the expanded use of guselkumab (Tremfya), a monoclonal antibody (mAb) from the Janssen Pharmaceutical Companies of Johnson & Johnson.
• In in October 2020, British Association of Dermatologists updated Clinical practice guidelines for biologic therapy for psoriasis.
Psoriatic arthritis cases are increasing every year. According to a publication by the International Journal of Clinical Rheumatology, psoriatic Arthritis is considered part of the spondylarthritis group, which is present in up to 42% of individuals with psoriasis and up to 15% of patients with psoriasis may have undiagnosed psoriatic arthritis. With the increasing cases there is an increase in the drugs and the diagnosis thereby boosting the psoriatic arthritis market.
Over the past few years there has been an advancement in the development of personalized drug development. This unable to target the exact location, tissue, or the region that needs to be treated. For instance, Otezla is a new drug that has been approved in 2014 for psoriatic arthritis. This drug is an oral phosphodieasterase-4 (PDE-4) inhibitor that will decreases proinflammatory mediators and increases anti-inflammatory mediators.
Key Market Insights from the report:
The global psoriatic arthritis market accounted for US$ 6.9 billion in 2020 and is estimated to be US$ 14.8 billion by 2029 and is anticipated to register a CAGR of 9.0%. The market report has been segmented on the basis of drug class, product type, route of administration and region.
• Depending upon drug class, DMARDs are projected to dominate the market due to their first-line of treatment, demand, and applicability of corticosteroids, and the forthcoming launches of key pipeline products, such as upadacitinib, filgotinib, and BMS-986165.
• Depending upon the product type, the Prescription segment is projected to register highest share of the market and are likely to maintain the lead throughout the forecast period. As most biologics and DMARDs are sold as prescriptions.
• In terms of route of administration, Injectables led the global psoriatic arthritis market, due to the anticipated launches of biologics and biosimilars. Most biologics are injected through the subcutaneous or intravenous routes.
• By region, North America and Europe, collectively dominates the global psoriatic arthritis market mainly due to the commercial sales of products in the U.S. In addition, the presence of key manufacturers, proactive government initiatives, favorable reimbursement policies, and a large patient pool support the psoriatic arthritis treatment market growth. Further the market is expected to grow the fastest in the regions of Asia Pacific due to the overall economic development, improvement in healthcare infrastructure, increase in disposable income, and rise in consumer awareness.
Before purchasing this report, request a sample or make an inquiry by clicking the following link:
The prominent player operating in the global psoriatic arthritis market includes AbbVie Inc., Amgen Inc., Johnson & Johnson Services, Inc., AstraZeneca plc; Bausch Health Companies Inc., Bristol-Myers Squibb Company, Celgene Corporation, Novartis International AG, Eli Lilly and Company, Pfizer, Inc. and UCB S.A. Strategic..
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
OTHER RELATED REPORTS:-