Psoriatic Arthritis Treatment Global Market Report 2024

The psoriatic arthritis treatment market size has grown strongly in recent years. It will grow from $10.93 billion in 2023 to $12 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. Historical growth in psoriatic arthritis treatment can be attributed to several factors. These include an uptick in diagnoses, a growing prevalence of psoriatic arthritis, increased awareness of the condition and its available treatments, a wider range of approved treatments for psoriatic arthritis, government support for research and development initiatives, and augmented investments from pharmaceutical companies. These combined elements contributed to the growth observed in the past period within the realm of psoriatic arthritis treatments.

The psoriatic arthritis treatment market size is expected to see strongly grown in the next few years. It will grow to $17.16 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. Anticipated growth in the upcoming period is linked to several key factors, including the advancement of personalized medicine, the emergence of new biologics and small molecule treatments, an expansion in the range of available treatment options, and the increasing global aging population's healthcare needs.

The increased prevalence of both psoriasis and psoriatic arthritis has significantly driven the growth of the psoriatic arthritis treatment market. These inflammatory disorders, particularly when occurring together, have a considerable impact on individuals' health and quality of life. Psoriasis, commonly associated with psoriatic arthritis, affects a significant percentage of individuals globally. For instance, in June 2021, the National Psoriasis Foundation reported that over 8 million people in the United States and 125 million worldwide suffered from psoriasis. Furthermore, approximately 30% of individuals with psoriasis in the USA also develop psoriatic arthritis. This rise in prevalence has directly contributed to market expansion.

The surge in healthcare spending has propelled the growth of the psoriatic arthritis treatment market. Increased healthcare expenditure supports various diagnostic procedures, including medical appointments, laboratory tests, and imaging studies essential for confirming diagnoses like psoriatic arthritis. For instance, in the UK, healthcare spending reached around $347.74 billion in 2022, demonstrating a 0.7% nominal increase from the previous year. This increased investment in healthcare resources contributes to the growth of treatments for conditions like psoriatic arthritis. The development of novel drugs like Janus kinase (JAK) inhibitors has significantly shaped the market. JAK inhibitors, such as tofacitinib, baricitinib, and upadacitinib, have emerged as innovative treatments for psoriatic arthritis. These medications have gained approval from regulatory bodies like the FDA and EMA, offering effective options for patients who have had inadequate responses to other treatments.

Major pharmaceutical companies have also been instrumental in market growth by introducing new drugs like Cosentyx. This drug, developed by Novartis, is an interleukin-17A antagonist used to treat various autoimmune diseases, including psoriatic arthritis. In October 2023, its approval by the FDA marked a significant milestone, offering relief for symptoms like joint pain and skin problems associated with psoriatic arthritis.

In February 2023, Takeda Pharmaceutical Company, a Japan-based pharmaceutical company acquired Nimbus Therapeutics for an undisclosed amount. The acquisition is anticipated to improve Takeda Pharmaceutical's position in the market for psoriatic arthritis treatments and broaden its product line. Nimbus Therapeutics is a US-based biotechnology company. It develops drugs for psoriatic arthritis treatment.

Major companies operating in the psoriatic arthritis treatment market include AbbVie Inc., Amgen Astellas BioPharma K.K., Johnson & Johnson Services Inc., Bristol-Myers Squibb Company, Celgene Corporation, Novartis International AG, Eli Lilly and Company, Pfizer Inc., CB Biosciences Inc., Hoffmann-La Roche Ltd., Merck & Co. Inc., AstraZeneca PLC, Sanofi SA, Otsuka Pharmaceutical Co. Ltd., Sumitomo Dainippon Pharma Co. Ltd., Bayer AG, Abbott Laboratories, Eisai Inc., Janssen Pharmaceuticals Inc., Bausch Health Companies Inc., F. Hoffmann-La Roche Ltd., Gilead Sciences Inc., GlaxoSmithKline PLC, LEO Pharma A/S, Regeneron Pharmaceuticals Inc., Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Valeant Pharmaceuticals International Inc., Chugai Pharmaceutical Co. Ltd., Kyowa Kirin Co. Ltd.

North America was the largest region in the psoriatic arthritis treatment market in 2023. The regions covered in the psoriatic arthritis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the psoriatic arthritis treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary classes of drugs used in psoriatic arthritis treatment encompass nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying anti-rheumatic drugs (DMARDs), biologics, and other medications. Biologic medicines, a subset of treatment options, are substances derived from or containing components of living organisms. These medications can be administered through various routes, including oral, parenteral (injection or infusion), and topical applications. They are distributed through diverse channels such as hospital pharmacies, retail pharmacies, and online pharmacies to cater to the needs of patients undergoing psoriatic arthritis treatment.

The psoriatic arthritis treatment market research report is one of a series of new reports provides psoriatic arthritis treatment market statistics, including global market size, regional shares, competitors with a psoriatic arthritis treatment market share, detailed psoriatic arthritis treatment market segments, market trends and opportunities, and any further data you may need to thrive in the psoriatic arthritis treatment industry. This psoriatic arthritis treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The psoriatic arthritis treatment market includes revenues earned by entities by reducing pain and swelling and controlling inflammation and pain. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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