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Psoriatic Arthritis Treatment Market - By Drug Type (NSAIDs, DMARDs [Synthetic, Biologics], Biological Agents [TNF, IL-17, IL-23]), Route of Administration, Medication Type, Age Group, Distribution Channel – Global Forecast (2024 – 2032)
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Psoriatic Arthritis Treatment Market
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Base Year: 2023
Companies covered: 15
Tables & Figures: 277
Countries covered: 22
Pages: 160
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Psoriatic Arthritis Treatment Market Size
Psoriatic Arthritis Treatment Market size was valued at USD 10.2 billion in 2023 and is estimated to grow at 9.7% CAGR from 2024 to 2032. The market has seen considerable growth due to the increasing prevalence of psoriatic arthritis globally.
According to data reported by the National Psoriasis Foundation, around 125 million people worldwide (2 to 3 percent of the total population) have psoriasis, and an estimated 30 percent of these individuals develop psoriatic arthritis. This significant patient population tends to drive the demand for advanced treatment options, thereby boosting market growth. Furthermore, advancements in biologic drugs and personalized medicine, alongside growing awareness about early diagnosis and treatment are significantly contributing to market expansion.
Psoriatic arthritis treatment involves medical interventions aimed at managing the symptoms and progression of psoriatic arthritis, a chronic inflammatory disease affecting joints and skin. Treatments include nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying antirheumatic drugs (DMARDs), biologic agents targeting specific immune pathways, and corticosteroids to reduce inflammation.
Psoriatic Arthritis Treatment Market Trends
Increased investments in research and development (R&D) have led to the discovery of innovative therapies and advanced treatment options. These efforts have also facilitated the advancement in biological agents and precision medicine approaches, addressing the diverse needs of patients with psoriatic arthritis is driving the market expansion.
Moreover, the growing aging population living with psoriasis, enhanced diagnostic technologies, government policies fostering healthcare and strategic expansions by major players further propel the market demand.
Psoriatic Arthritis Treatment Market Analysis
Based on the drug type, the market is categorized as nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying antirheumatic drugs (DMARDs), biological agents, and other drug types. The biological agents segment is set to lead the market, accounting for the largest revenue of USD 3.6 billion, anticipating its dominance throughout the forecast period with a CAGR of 9.6%.
Based on route of administration, the psoriatic arthritis treatment market is classified into topical, oral, and injectable. The injectable segment holds the largest market share of 57.7% in 2023 and is expected to maintain dominance throughout the analysis period.
Based on medication type, the psoriatic arthritis treatment market is segmented into branded and generics. The branded segment is expected to lead the market projecting a growth rate of 9.5% during the analysis period.
Based on the age group, the psoriatic arthritis treatment market is segmented into below 18 years, 19-40, 41-60, and 60 above. The 41-60 age group segment is projected to reach USD 11.2 billion by 2032.
Based on the distribution channel, the psoriatic arthritis treatment market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market with the highest share in 2023.
The U.S. dominated the North American psoriatic arthritis treatment market accounting for USD 3.9 billion in 2023 and is anticipated to show considerable growth over the analysis period.
Germany exhibited a high growth potential in the European psoriatic arthritis treatment market.
The Asia Pacific psoriatic arthritis treatment market is poised for rapid growth with a CAGR of 10.2% during the forecast period.
Psoriatic Arthritis Treatment Market Share
The competitive landscape of the market is characterized by intense competition, with companies focusing on research and development to introduce novel treatments and gain a competitive edge. Several key players offer a range of treatment options, including biologics, DMARDs, and corticosteroids. Also, strategic collaborations, mergers, and acquisitions are common strategies employed by players to strengthen their market position and expand their product portfolios in the rapidly evolving landscape of psoriatic arthritis treatment.
Psoriatic Arthritis Treatment Market Companies
Few of the prominent players operating in the psoriatic arthritis treatment industry include:
Psoriatic Arthritis Treatment Industry News:
The psoriatic arthritis treatment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Drug Type
Market, By Route of Administration
Market, By Medication Type
Market, By Age Group
Market, By Distribution Channel
The above information is provided for the following regions and countries: