Psoriatic Arthritis Treatment Market Research, Key Players, Analysis And Forecast 2026: Grand View Research Inc.
The global psoriatic
arthritis treatment market
size is expected to reach over USD 18.6
billion by 2026, according to a new study by Grand View Research Inc. It is
projected to expand at a CAGR of 10.1%
during the forecast period. Emergence of biosimilars, new product launches, and
a rising consumer awareness are some of the key factors driving the growth.
Biologics generated the highest
revenue among other drug classes, in 2018. The segment growth is driven by the
demand for targeted therapy, improved safety & efficacy profiles, anticipated
launches of several promising pipeline candidates, and strong commercial
performances of existing products. DMARDs is also expected to maintain a steady
growth rate, supported by the first-line action of corticosteroids as well as
the impending launch of JAK-inhibitors and TYK2 kinase inhibitors.
North America captured the highest
market share in 2018, propelled by high healthcare expenditure, disease
prevalence, regional presence of key manufacturers, and rapid rise in consumer
awareness. Asia Pacific is expeted to demonstrate the fastest regional growth
over the forecast period, driven by a rising trend of biosimilars, improvement
in healthcare infrastructure, and increasing disposable income.
Some key players in the psoriatic
arthritis (PsA) treatmentmarket include 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.
The promising pipeline, new product
launches, increasing disease burden, and a significant rise in consumer
awareness are some of the factors expected to fuel the growth. Psoriatic
arthritis is a chronic degenerative condition associated with psoriasis. In the
absence of proper and timely treatment, the disease may lead to irreversible
joint damage. Although the exact causative factors remain unknown, research
suggests that nearly 40% of cases are attributable to genetic factors.
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Psoriatic arthritis may be
misdiagnosed as rheumatoid arthritis or gout. However, heightened consumer awareness,
aided by multiple campaigns organized by private and public organizations, is
likely to reduce the rates of misdiagnosis or incorrect treatment. In addition,
the high cost of treatment, and the adverse effects of some drugs are expected
to restrain market growth.
Further key
findings from the study suggest:
- Biologics captured over 50% share of the
psoriatic arthritis treatment market in 2018. The segment is anticipated
to witness growth, attributed to the launch of infliximab, guselkumab,
bimekizumab, risankizumab, and tildrakizumab
- Upadacitinib, filgotinib, and BMS-986165
—upon launch — are likely to have a positive impact on the growth rate of
DMARDs
- Injectables accounted for the largest PsA
treatment market share among other routes of administration in 2018
- North America and Europe, collectively,
captured more than half the revenue share in 2018 and are anticipated to
witness significant growth in the forthcoming years
Some of the key players include 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 initiatives including mergers and acquisitions, collaborations,
partnerships, and joint ventures make a cumbersome market dynamics among the
key players.
Continuous product development and
consecutive launches of breakthrough products are the major themes in this
competitive landscape. As regulatory procedures become more stringent and
competitive rivalry intensifies in this market, new products must have a
significant clinical advantage over existing products, in terms of safety and
efficacy or the end result. This has led to a large number of head-to-head
trials between key commercial products, such as Humira and Remicade, and new
products or late-stage pipeline candidates. These trials determine the
superiority of performance through a comparative analysis of several
parameters.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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