Psoriatic Arthritis Therapeutics Market to Touch USD 30.2 Bn by 2032

According to Nova one advisor, the global Psoriatic Arthritis Therapeutics market size was exhibited at USD 12.8 billion in 2022 and is projected to hit around USD 30.2 billion by 2032, growing at a CAGR of 9.70% during the forecast period 2023 to 2032.

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Psoriatic arthritis is a type of seronegative spondyloarthritis that is distinguished by inflammatory arthritis in conjunction with psoriasis. Psoriatic arthritis has a wide range of clinical manifestations, but the axial joints and distal interphalangeal joints are frequently involved. Interleukin inhibitors drugs have proven to be effective and well-tolerated treatment for psoriatic arthritis, and recently, around three different interleukin inhibitors have been approved and commercialized in the U.S. and Europe. Several different drug candidates are in phase III clinical trials for psoriatic arthritis treatment. These are likely to be commercialized in first half of the forecast period.

Report Scope of the Psoriatic Arthritis Therapeutics Market

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High Prevalence and Increase in Incidence Rate of Psoriatic Arthritis to Drive Global Market

The global psoriatic arthritis therapeutics market is driven by high prevalence and increase in incidence rate of psoriatic arthritis. Patients with skin condition psoriasis have a high risk of developing psoriatic arthritis, and the number of patients has steadily increased in the last few years. People are living stressful lives, which results in overstimulation of immunity of the human body. This increases the number of patients with psoriasis, primarily the geriatric population. In the U.S., around 7.5 million people are affected with psoriasis, and around 30% of them are affected with psoriatic arthritis. Therefore, high prevalence and increase in the incidence rate of psoriasis and psoriasis led arthritis across the globe are driving the global psoriatic arthritis therapeutics market demand.

Novel Pipeline Drugs to Propel Global Market

For the treatment of psoriatic arthritis, a large number of small molecules and biologic products are in various stages of clinical trials. Leading companies have made significant investment in clinical R&D and have formed strategic partnerships and collaborations to accelerate the development of new products. Interleukin inhibitors have been shown to be an effective and well-tolerated treatment for psoriatic arthritis, and three different interleukin inhibitors have recently been approved and commercialized in the U.S. and Europe. New therapeutic drug classes, such as Bristol Mayer Squibb’s TYK2 kinase inhibitor-BMS-986165, and AbbVie’s JAK inhibitor- Upadacitinib (ABT-494), are currently in phase III clinical trials for psoriatic arthritis. Hence, approval and commercialization of novel therapeutic drugs under clinical trial studies is projected to propel the global psoriatic arthritis therapeutics market during the forecast period.

Higher Efficacy Rate Fueling TNF Inhibitors Segment

In terms of drug class, the TNF inhibitors segment accounted for the largest share of the global market in 2021. Higher efficacy rate than small molecules, fewer alternative therapeutic drugs, and high cost are expected to drive the TNF inhibitors segment during the forecast period. Furthermore, the segment is expected to be propelled by increase in the rate of adoption of biosimilar drugs in developed countries and rise in demand in emerging markets during the forecast period.

Large Number of Prescriptions of Biologic Drugs Bolstering Parenteral Segment

Based on route of administration, the global market has been classified into oral, parenteral, and topical. The parenteral segment held major share of the global market in 2022. High cost and high volume prescription of biologic drugs, which are administered via intravenous and subcutaneous injections, are ascribed to the segment's large market share.

Hospital Pharmacies to Increase Market Size Around Globe

In terms of distribution channel, the hospital pharmacies segment dominated the global market in 2022. This is ascribed to increase in the number of hospital admissions for psoriatic arthritis and high treatment cost. Pipeline biologic products of leading biopharmaceutical companies are likely to receive approval and commercialization in the near future. Biologic drugs are commonly and easily available at hospital pharmacy stores. Therefore, expected launch and commercialization of biologic therapeutic drugs for psoriatic arthritis are likely to augment the hospital pharmacies segment during the forecast period.

Regional Outlook of Global Psoriatic Arthritis Therapeutics Market

As per global psoriatic arthritis therapeutics market forecast, North America is expected to be a highly lucrative market for psoriatic arthritis therapeutics during the forecast period. High prevalence of psoriatic arthritis, increase in adoption of biologic drugs for the treatment of moderate to severe psoriatic arthritis, and anticipated new product approvals are likely to fuel the psoriatic arthritis therapeutics market in North America.

The market in Asia Pacific is projected to grow at a high CAGR during the forecast period. Increase in awareness about psoriatic arthritis, rapidly changing health care infrastructure, rise in access to psoriatic arthritis pharmacotherapy and arthropathic psoriasis therapy in developing countries such as China and India, well-established pharmaceutical market in Japan, and surge in adoption of biologic drugs in Australia and New Zealand are anticipated to fuel the psoriatic arthritis therapeutics market in Asia Pacific during the forecast period.

Large base of biopharmaceutical companies, new product development and commercialization, increase in the adoption of biologic products, and high per capita health care expenditure in Germany and France are likely to bolster the psoriatic arthritis therapeutics market in Europe from 2023 to 2032.

Rise in purchasing power of the middle class patient population, increase in the incidence of psoriatic arthritis, and surge in launch of new biosimilars & biologic drugs are expected to propel the psoriatic arthritis therapeutics market in Latin America during the forecast period.

Key Developments in Global Psoriatic Arthritis Therapeutics Market

• In September 2022, the U.S. Food and Drug Administration approved Bristol Myers Squibb’s Sotyktu (deucravacitinib) oral treatment for adults with moderate-to-severe plaque psoriasis. It is the first-in-class, oral, selective, allosteric tyrosine kinase 2 (TYK2) inhibitor.
• In December 2021, AbbVie announced that the U.S. Food and Drug Administration (FDA) approved RINVOQ (upadacitinib; 15 mg, once daily) for the treatment of adults with active psoriatic arthritis (PsA) who have had an inadequate response or intolerance to one or more tumor necrosis factor (TNF) blockers.

Some of the prominent players in the Psoriatic Arthritis Therapeutics Market include:

• AbbVie, Inc.
• Janssen Pharmaceutical NV
• Novartis AG
• Amgen, Inc.
• Celgene Corporation
• Eli Lilly and Company
• Bristol Myers Squibb
• UCB S.A

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Psoriatic Arthritis Therapeutics market.

• Drug Class
  • TNF Inhibitors
  • Interleukin Inhibitors
  • PDE4 Inhibitors
  • Others
• Route of Administration
  • Oral
  • Parenteral
  • Topical
• Distribution Channel
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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