Rising prevalence of target disease globally and growing awareness of advanced biologics and biosimilars are among the key factors driving the global market revenue growth.
Rising prevalence of target disease globally and growing awareness of advanced biologics and biosimilars are among the key factors driving the global market revenue growth
Emergen Research has published its latest report titled “Active Psoriatic Arthritis Market, By Product Type (Prescription, OTC, Others), By Drug Class (Biologics, Non-Steroidal Anti-Inflammatory Drugs, Non-Biologic Disease Modifying Anti-Rheumatic Drugs, Others), By Route of Administration (Injectable, Oral, Topical), and By Region Forecast to 2028”
According to Emergen Research, the global active psoriatic arthritis market size was USD 7.80 billion in 2020 and is expected to reach USD 14.89 billion in 2028 and register a revenue CAGR of 9.2% during the forecast period, 2021-2028.
Market Dynamics:
Revenue growth of the global active psoriatic arthritis market is significantly driven by factors such as increasing prevalence of chronic or long-term skin diseases including psoriasis, growing susceptibility of people with psoriasis to psoriatic arthritis, rapidly growing geriatric population, and rising prevalence of target diseases across the globe. Psoriatic arthritis is common in people suffering from the long-term skin condition called psoriasis. A type of inflammatory arthritis, the main symptoms of psoriatic arthritis include joint pain, swelling, and morning stiffness. However, the condition can be treated with medications or steroid injections to reduce inflammation.
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Increasing burden of bone and joint disorders such as rheumatoid arthritis and osteoarthritis, rising cases of immune system disorders due to unhealthy and stressful lifestyles, rapid adoption of advanced active psoriatic arthritis management therapeutics and solutions, and development of advanced biologics and biosimilars for safer and more effective psoriatic arthritis treatment are among the other major factors expected to drive the global market revenue growth going ahead.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Prescription Segment Accounted for Largest Revenue Share in 2020:
Based on product type, the global active psoriatic arthritis market is segmented into prescription, OTC, and others. The prescription segment dominated other segments in terms of revenue share in the global market in 2020. Rising prevalence of active psoriatic arthritis, growing demand for advanced psoriatic arthritis therapeutics, and increasing sales of biologics and biosimilars as prescription medications for psoriatic arthritis treatment are some of the primary factors driving the revenue growth of this segment.
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Biologics Segment to Account for Fastest Revenue CAGR:
Based on drug class, the global active psoriatic arthritis market is segmented into biologics, NSAIDs, DMARDs, and others. The biologics segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Rising prevalence of psoriatic arthritis among people suffering from psoriasis, increasing geriatric population, rising cases of rheumatoid arthritis and osteoarthritis, and growing demand for advanced biologics for active psoriatic arthritis management are major factors contributing to revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America active psoriatic arthritis market accounted for largest revenue share in the global market in 2020. Key factors supporting the North America market revenue growth are rise in geriatric population, growing burden of orthopedic disorders such as rheumatoid arthritis, increasing prevalence of psoriatic arthritis, development of advanced biologics and biosimilars for improved psoriatic arthritis management, and presence of leading market players in the region, including Amgen, Inc., Johnson & Johnson, Celgene Corporation, and Pfizer, Inc.
Major Companies in the Global Active Psoriatic Arthritis Market Include:
- AbbVie, Inc.
- Amgen, Inc.
- Johnson & Johnson Services, Inc.
- Bristol-Myers Squibb Company
- Celgene Corporation
- Novartis International AG
- Eli Lilly and Company
- Pfizer, Inc.
- UCB S.A.
- AstraZeneca plc
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For the purpose of this report, Emergen Research has segmented the global active psoriatic arthritis market on the basis of product type, drug class, route of administration, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Prescriptions
- OTC
- Others
Drug Class Outlook (Revenue, USD Billion; 2018-2028)
- Biologics
- Non-steroidal anti-inflammatory drugs (NSAIDs)
- Non-biologic disease modifying anti-rheumatic drugs (DMARDs)
- Others
By Route of Administration (Revenue, USD Billion; 2018-2028)
- Injectable
- Oral
- Topical
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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