Psoriatic Arthritis Treatment Market

Market Overview

The global psoriatic arthritis treatment market size was valued at USD 8.92 billion in 2022. It is estimated to reach USD 27.01 billion by 2031, growing at a CAGR of 13.1% during the forecast period (2023–2031). It is projected that as psoriatic arthritis disease prevalence rises, so will the need for goods that treat the condition, ultimately fuelling the growth of the global market.

The overproduction of skin cells is a symptom of the autoimmune inflammatory condition known as Psoriasis. This overproduction of skin cells brings Psoriasis, a painful and itchy skin disorder marked by inflammation, red lesions, and plaque development. Psoriatic arthritis (PSA) and plaque psoriasis are the two main disease types that can be recognized by one another. Psoriatic arthritis, an inflammation of the joints, will eventually occur in about 30% of those with this ailment. This data is based on research that Celgene Corporation published.

Psoriatic arthritis is a chronic inflammatory condition that affects the joints and the areas of the bones (entheses) where tendons and ligaments attach to the bones. The term "psoriatic arthritis treatment" can refer to either a treatment method or a substance used to stop or minimize the symptoms of psoriatic arthritis. This treatment focuses on minimizing skin involvement and joint discomfort to lower the likelihood of impairment. Psoriatic arthritis is a degenerative illness connected to Psoriasis and can linger for years. Several symptoms are associated with psoriatic arthritis, but the most prevalent ones are pitted and pitted and pitted nails, swollen fingers and toes, and sensitive joints.

Market Dynamics

Global Psoriatic Arthritis Treatment Market Drivers

Rise in Prevalence of Psoriasis and Psoriatic Arthritis Disease

The demand for medications required for treating psoriatic arthritis is expected to rise as psoriasis and the related disorder, psoriatic arthritis, become more common. For instance, according to the National Psoriasis Foundation (NPF), 125 million people worldwide have psoriasis, and 10 to 30 percent develop psoriatic arthritis. Psoriasis is an autoimmune condition resulting in joint inflammation and skin sores. The alarming increase in the chance of getting the majority of immunological diseases, such as psoriasis and psoriatic arthritis, in Western countries is a significant factor in the growth of the global market. As a result, it is projected that as psoriatic arthritis disease prevalence rises, so will the need for goods that treat the condition, ultimately fuelling the growth of the global market.

Increase In the Number of Pipeline Drugs

Psoriasis and psoriatic arthritis are becoming more common, which has led numerous pharmaceutical companies to look into developing new treatments for these conditions. At the moment, some pharmaceutical companies are concentrating their efforts on developing medications for the treatment of psoriatic arthritis, and a variety of drugs for the treatment of psoriatic arthritis are now in the pipeline and are at various stages of development. According to the National Psoriasis Foundation, there are presently more than 20 medications in phase II of the pipeline of clinical trials for treating psoriasis and psoriatic arthritis.

In comparison, more than 28 drugs are in phase III of the pipeline of clinical trials. Serlopitant, lebrikizumab, taping off, filgotinib, upadacitinib, and bimekizumab are potential medications in phase III testing. In addition, the FDA has previously blessed the use of roughly 24 different medications for treating psoriasis and psoriatic arthritis. As a result, the presence of numerous pharmaceuticals in the pipeline, including perfect drugs in the later phases of development, is anticipated to give good potential for market expansion during the period covered by the forecast.

Global Psoriatic Arthritis Treatment Market Restraint

Poor Demand in Underdeveloped Countries

A lack of financial resources, a low income, a smaller number of pharmaceutical businesses, and a lack of availability of innovative production methods are predicted to be the primary obstacles that will impede the expansion of the global market for the treatment of psoriatic arthritis in developing countries in Asia and Africa. These regions are where the market for psoriatic arthritis treatment is expected to be most affected. In addition, insufficient assistance from government agencies for the adoption of drugs used in the treatment of psoriatic arthritis and a scarcity of competent experts are hurdles to the expansion of the market in countries such as Ethiopia, Afghanistan, and Guinea. These countries include some of the least developed countries in the world.

Global Psoriatic Arthritis Treatment Market Opportunities

Growth Opportunities in Emerging Markets

It is anticipated that opportunities in untapped, emerging markets will drive the expansion of the market for psoriatic arthritis treatment products. These possibilities are projected to be driven by the availability of enhanced healthcare infrastructure, a rise in pharmaceutical enterprises, and an increase in the demand for psoriatic arthritis treatment products. The spike in demand for advanced manufacturing systems and major investments by the government to improve healthcare infrastructure is helping to drive further market growth in emerging nations, causing the healthcare industry to develop significantly. This is contributing to the rapid expansion of the market.

Furthermore, rising markets such as China and India are hubs of pharmaceutical businesses, which is projected to fuel the need for drugs necessary for treating psoriatic arthritis, considerably contributing to the growth of the global market. This demand is anticipated to fuel the expansion of the global market.

Regional Analysis

Based on region, the global psoriatic arthritis treatment market is bifurcated into North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant global psoriatic arthritis treatment market shareholder and is estimated to exhibit a CAGR of 6.40% over the forecast period. A significant factor driving the growth of the psoriatic arthritis treatment market in the region is the presence of major key players like AbbVie Inc., Amgen Inc., Celgene Corporation, Eli Lilly and Company, Johnson and Johnson, Merck and Co., Inc., Bristol-Myers Squibb Company Pfizer Inc. The presence of advanced healthcare facilities combined with skilled medical professionals, rise in the number of R&D centers, rise in the prevalence of psoriatic arthritis disease, rise in demand for drugs that treat psoriatic arthritis, and all of these factors significantly contribute to the growth of the North American market.

In addition, the Pharmaceutical Research and Manufacturers Association (PhRMA) claims that American companies carry out more than half of all pharmaceutical R&D worldwide and own the intellectual property rights (IPR) for most new medications. This is primarily attributable to the development of sophisticated psoriatic arthritis treatment products, the rise in the use of psoriatic arthritis medications, the spike in the manufacturing of biologics and generic medications, and the expansion of nongovernmental and governmental activities to support healthcare.

Asia-Pacific is anticipated to exhibit a CAGR of 9.10% over the forecast period. Due to its large population, increased consumer awareness of psoriatic arthritis treatment options, and the prevalence of psoriasis and psoriatic arthritis disease in various countries, this area presents an attractive potential for the psoriatic arthritis treatment market. An increase in generic and biologic drug production, expansion of the R&D industry, a surge in healthcare reforms, and technological developments all contribute to Asia-Pacific being predicted to grow at the quickest rate throughout the projected period.

Additionally, throughout the forecast period, the increased focus of top manufacturers on increasing their geographic presence in developing Asia-Pacific nations to take advantage of the market's high growth possibilities would present lucrative opportunities for market expansion.

In European nations, the market for treating psoriatic arthritis is anticipated to expand steadily for the forecast period as a result of rising demand for psoriatic arthritis treatment products, the dominance of key players like Novartis AG and UCB S.A., and the availability of cutting-edge medications for the condition. The presence of developed infrastructure in the pharmaceutical sector, the availability of qualified specialists, the rise in patients with psoriatic arthritis, and the high volume of biologics prescribed are major growth drivers of the European market. Increased production of generic and biologic medications, the presence of a large population base, an increase in disposable income, and increased R&D spending by industry participants on psoriatic arthritis management clinical studies all contribute to the growth of the European psoriatic arthritis treatment market.

In LAMEA, Due to a lack of availability of pharmaceutical businesses with superior production facilities and a lack of skilled specialists, the psoriatic arthritis treatment market is still in its infant stage. LAMEA is a market that is just starting to emerge, and it is anticipated to give attractive growth prospects for major players. This is because there will be a rise in the number of people who need treatment for psoriatic arthritis and an increase in the demand for pharmaceuticals used to treat the condition. There will be an improvement in healthcare infrastructure. In addition, the rise in the prevalence of psoriatic arthritis in LAMEA has propelled the adoption of products designed to treat psoriatic arthritis, driving market expansion.

Segmental Analysis

The global psoriatic arthritis treatment market is bifurcated into drug type, type, and route of administration.

Based on the drug type, the global psoriatic arthritis treatment market is bifurcated into NSAIDs, DMARDs, biologics, and others. 

The biologics segment dominates the global market and is projected to exhibit a CAGR of 7.90% over the forecast period. Immunomodulator medicines are also often known as biologics. A biological is a type of medicine that is based on proteins and is created from living cells that have been cultivated in a laboratory. Biologics are distinct from conventional medications in that they affect the immune system. They are only effective against certain components of the immune system. They are utilized in treating psoriatic illness by inhibiting the activity of a certain type of immune cell known as a T-cell and certain proteins inside the immune system. These cells and proteins are important contributors to the development of psoriasis and psoriatic arthritis.

The use of biologics can alleviate the symptoms of psoriasis and aid in preventing joint damage from becoming worse. Infusion treatment and intravenous (IV) injections are the two most common ways of administering biological medications. In treating psoriatic arthritis, biological medicines such as certolizumab, secukinumab, etanercept, adalimumab, and abatacept are utilized.

Based on type, the global psoriatic arthritis treatment market is segmented into prescription and OTC. 

The prescription segment dominates the global market and is predicted to exhibit a CAGR of 7.40% during the forecast period. It is required by law for a valid medical prescription to be presented before the dispensing of any medicine or drug requiring a prescription. When treating psoriatic arthritis, using these medications is beneficial since it guarantees that patients receive the appropriate dosage of the drug without causing any undesirable side effects to manifest. When it comes to severe cases of psoriatic arthritis, the pharmaceuticals available only with a doctor's prescription, known as disease-modifying antirheumatic drugs (DMARDs) and biologics, are among the most sought after. These include sulfasalazine, cyclosporine methotrexate, leflunomide, azathioprine, apremilast, certolizumab, and secukinumab. Psoriatic arthritis is treated with a variety of topical drugs, some of which include calcitriol, calcipotriene, tazarotene, and anthralin. These medications can be applied directly to the affected area of the skin.

Based on the route of administration, the global psoriatic arthritis treatment market is bifurcated into injectable, oral, and topical. 

The injectable segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 7.70% over the forecast period. Adalimumab, certolizumab, etanercept, golimumab, infliximab, ustekinumab, secukinumab, abatacept, ibalizumab, and other injectable psoriatic arthritis medications are among the available options. Either a vein or the skin is used to give these medications. The moderate to severe symptoms of psoriatic arthritis can be effectively treated with injectable medications.

Additionally, psoriatic arthritis patients may benefit from TNF-alpha inhibitor injections to lessen long-term joint damage. The frequency of injectable administration in treating psoriatic arthritis might range from twice weekly to once every three months. Injectable medicines' quick start of action and improved efficacy are the main factors fuelling this market's expansion. In addition, factors including the rise in chronic disease incidence, the increase in demand for self-injection devices, and technological advancements in injectable goods all contribute to the market's expansion for injectable psoriatic arthritis treatments.

Recent Developments

• November 2023- Takeda announced that the company would present positive results from its randomized, double-blind, placebo-controlled, Phase 2b trial evaluating TAK-279, an investigational oral, allosteric tyrosine kinase 2 (TYK2) inhibitor with next-generation selectivity, in patients with active psoriatic arthritis.
• November 2023- Amgen announced results from the global Phase 4 FOREMOST study evaluating Otezla® (apremilast) in patients with early oligoarticular psoriatic arthritis.