Psoriatic Arthritis Treatment Global Market To Reach Value Of About $11 Billion In 2025
10 Dec, 2021
Global Psoriatic Arthritis Treatment Market Size And Drivers:
The global psoriatic arthritis treatment market is expected to grow from $7.26 billion in 2020 to $7.89 billion in 2021 at a compound annual growth rate (CAGR) of 8.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The psoriatic arthritis treatment market is expected to reach $11.34 billion in 2025 at a CAGR of 9%. The rise in the prevalence of psoriasis & psoriatic arthritis disease boosted the growth of the psoriatic arthritis treatment market.
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Trends In The Global Psoriatic Arthritis Treatment Market
The development of novel drugs such as Janus kinase (JAK) inhibitors for treating psoriatic arthritis is shaping the market. Janus kinase (JAK) inhibitors are orally administered small molecules emerging as a novel treatment for psoriatic arthritis patients. There are three JAK inhibitors approved for the treatment of autoimmune diseases – tofacitinib, baricitinib, and upadacitinib. Among them, Xeljanz (tofacitinib) and Xeljanz (tofacitinib) XR are the first Janus kinase (JAK) inhibitors that have been approved by the Food and Drug Administration (FDA) and the European Medicines Agency (EMA). They are used to treat adult patients with active psoriatic arthritis (PsA), who have had an inadequate response or intolerance to methotrexate or other disease-modifying antirheumatic drugs (DMARDs). In June 2020, AbbVie, a leading US-based pharmaceutical company has announced that it has applied for the approval of upadacitinib (RINVOQ), a JAK inhibitor with the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
Global Psoriatic Arthritis Treatment Market Segments:
The global psoriatic arthritis treatment market is further segmented –
By Drug Class: Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Disease-Modifying Anti-Rheumatic Drugs (DMARDs), Biologics, Others
By Route Of Administration: Oral, Parenteral, Topical
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
By Geography: The global psoriatic arthritis treatment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/psoriatic-arthritis-treatment-global-market-report-2020-30-covid-19-growth-and-changePsoriatic Arthritis Treatment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides psoriatic arthritis treatment market overviews, analyzes and forecasts market size and growth for the global psoriatic arthritis treatment market, psoriatic arthritis treatment market share, psoriatic arthritis treatment market players, psoriatic arthritis treatment market segments and geographies, psoriatic arthritis treatment market’s leading competitors’ revenues, profiles and market shares. The psoriatic arthritis treatment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.