The global Psoriatic Arthritis (PsA) treatment market is set for substantial expansion, with an estimated valuation of USD 11,973.7 million in 2024. This surge in market size reflects the growing need for effective treatments as the prevalence of psoriasis and its associated complications increase. Morning stiffness, nail pitting, and other symptoms drive the demand for innovative treatment options in this sector.
According to recent market projections, the PsA treatment industry is anticipated to grow at a robust Compound Annual Growth Rate (CAGR) of 7.8% through 2034. The aging global population, particularly those in the 50-60 age group who are most affected by PsA, is a significant factor contributing to this growth. By 2034, the market is expected to reach USD 25,375.6 million, driven by rapid advancements in treatment options and substantial investments in clinical trials.
However, challenges persist, including the risk of side effects such as hair loss and lung inflammation, which may deter some patients from pursuing treatment. In response, manufacturers are expanding their scope by developing new drugs and exploring alternative therapies such as light therapy and acupuncture.
“Manufacturers in the PsA treatment market are focused on broadening treatment options to open new avenues for progress. This includes not only the development of new pharmaceuticals but also innovative alternative treatments,” says an analyst at FMI.
Key Market Insights:
- Market Size: The PsA treatment market is expected to reach USD 11,973.7 million in 2024.
- Drug Types: Biologics are projected to dominate the market, accounting for 57.2% of the market share in 2024.
- Administration Routes: Injectable drugs are anticipated to hold 84.9% of the market share.
- Regional Growth: India is forecasted to lead with a CAGR of 8.9% from 2024 to 2034. China and Australia are also set to be key players with CAGRs of 8.4% and 7.9%, respectively. The U.S. market is expected to grow at a CAGR of 7.5%.
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Competitive Landscape:
The PsA treatment market is characterized by active drug formulation and strategic collaborations. Major players include Pfizer Inc., Johnson & Johnson, AbbVie Inc., Amgen Inc., Bristol-Myers Squibb Company, UCB S.A., Eli Lilly & Co, Novartis AG, Celgene Corporation, and AstraZeneca PLC.
Recent Developments:
- September 2023: Wellmin Health, in collaboration with Versus Arthritis, launched the Pathway platform to enhance arthritis treatment.
- February 2024: Biocon Biologics entered a partnership with Janssen Biotech Inc. and Johnson & Johnson for the sale of the drug Bmab 1200.
Market Segmentation:
- By Drug Type: Includes non-steroidal anti-inflammatory drugs, disease-modifying anti-rheumatic drugs (corticosteroids, antimalarial, methotrexate), and biologics (TNF inhibitors, interleukin inhibitors).
- By Route of Administration: Injectable and oral.
- By Distribution Channel: Hospital pharmacies, retail pharmacies, and mail-order pharmacies.
- By Region: North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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