Psoriatic Arthritis Treatment Market Set to Expand at a Staggering 8.83% CAGR, Reaching USD 24.78 Billion by 2032

Psoriatic Arthritis Treatment Market was esteemed at USD 11.58 Bn in 2023 & is projected to reach USD 24.78 Bn by 2032, growing at a CAGR of 8.83% (2024-2032).

AUSTIN, TX, UNITED STATES, November 26, 2024 /EINPresswire.com/ -- The Psoriatic Arthritis (PsA) Treatment Market¹ is witnessing substantial growth owing to an increasing prevalence of autoimmune diseases, higher patient awareness, and the introduction of innovative therapeutic options. PsA, a chronic inflammatory condition, requires sustained management with targeted treatments. The surge in biologic therapies, particularly Disease Modifying Anti-Rheumatic Drugs (DMARDs), has significantly improved patient outcomes and fueled market demand.

Demand is bolstered by rising investments in research and development, focusing on novel biologics targeting interleukin pathways. Simultaneously, the market faces challenges in supply due to the high cost of biologic drugs and patent expirations. Nevertheless, the emergence of biosimilars is mitigating these issues, offering cost-effective treatment alternatives.

Global key players like Novartis and AbbVie are introducing innovative therapies, supported by favorable regulatory approvals. Moreover, the growing adoption of telemedicine and online pharmacies is ensuring accessibility to treatments. Regions such as North America and Asia Pacific dominate the market due to robust healthcare infrastructure and increasing healthcare spending, respectively, propelling the overall PsA treatment market's upward trajectory.

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Key Players:
· Sun Pharmaceutical Industries Ltd.
· Pfizer Inc.
· AstraZeneca
· Abbvie Inc.
· Teva Pharmaceuticals Industries Ltd.
· Novartis AG
· Ampio Pharmaceuticals Inc.
· Amgen Inc.
· Merck & Co Inc.
· Boehringer Ingelheim International GmbH andOthers

Segment Analysis

By Drug Class
· Non-biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs)
· Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs)
· Non-steroidal Anti-inflammatory Drugs (NSAIDs)
· Others

Biologic DMARDs held over 50.0% of the Psoriatic Arthritis Treatment Market share in 2023, driven by their proven efficacy in managing severe symptoms and halting disease progression. Widely used biologics like adalimumab and secukinumab have demonstrated consistent clinical success, supported by extensive regulatory approvals and inclusion in treatment guidelines. These therapies target specific inflammatory pathways, ensuring effective symptom control. The dominance of biologic DMARDs is further fueled by ongoing innovation and the introduction of biosimilars, which enhance accessibility for patients globally.

Non-biologic DMARDs are expected to exhibit the highest CAGR of 9.2% during the forecast period. These cost-effective, oral therapies are gaining traction for early-stage PsA management, particularly in emerging markets. Their affordability and increasing availability, coupled with expanding awareness among healthcare providers, are driving their adoption as a first-line treatment option.

By Route of Administration
· Topical
· Oral
· Parenteral

Parenteral administration dominated the market with a 55.0% share in 2023, primarily due to its use for biologic DMARDs, which require precise and targeted drug delivery. Injectable formulations ensure higher bioavailability and sustained therapeutic effects, making them a preferred choice for managing moderate to severe cases of PsA. The growth of advanced parenteral drug delivery technologies further bolsters this segment's prominence.

Oral therapies, on the other hand, are anticipated to grow at an impressive CAGR of 10.1% during the forecast period. Innovations in drug formulations, including delayed-release and extended-release tablets, have improved patient adherence and convenience. As oral options expand in efficacy and safety, they are increasingly favored for milder PsA cases and long-term management strategies.

By Distribution Channel
· Hospital Pharmacies
· Online Pharmacies
· Retail Pharmacies

Hospital Pharmacies accounted for 48.0% of the market share in 2023, attributed to their critical role in the distribution of biologic DMARDs. Hospitals serve as key hubs for PsA diagnosis, treatment initiation, and management, ensuring that patients receive timely access to advanced therapies. Their strong supply chains and partnerships with pharmaceutical manufacturers enhance their market dominance.

Online Pharmacies are projected to grow at a remarkable CAGR of 11.4%, fueled by the increasing prevalence of e-commerce platforms offering accessibility and convenience. These platforms provide competitive pricing, doorstep delivery, and detailed product information, attracting a growing number of patients seeking cost-effective and hassle-free treatment options.

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Regional Analysis

North America

North America dominated the Psoriatic Arthritis Treatment Market in 2023, capturing 42.0% of the market share. The region's dominance is attributed to a high prevalence of PsA, advanced healthcare infrastructure, and significant investments in drug research and development. The United States plays a key role, with pharmaceutical giants like AbbVie and Amgen driving innovation. Companies are actively launching biologic and biosimilar therapies to address rising demand. Additionally, favorable reimbursement policies and awareness campaigns about PsA treatments have reinforced market growth in the region.

Asia Pacific

Asia Pacific is the fastest-growing region, projected to expand at a CAGR of 10.7% during the forecast period. The region benefits from a growing prevalence of autoimmune diseases, improving healthcare infrastructure, and rising disposable income. Countries like China and India are witnessing increased investments by global players to establish a strong presence. For example, Novartis and Pfizer are expanding access to biological therapies by introducing affordable options tailored to regional needs. Government initiatives to promote early diagnosis and treatment further contribute to market expansion.

Recent Developments

· March 2024: Acelyrin, Inc. announced promising results from its global phase 2b/3 clinical trial of izokibep, a small protein therapeutic targeting IL-17A, showing potential as a breakthrough treatment for PsA. Izokibep demonstrated strong tissue penetration, exceptional potency, and a prolonged half-life.
· October 2023: Novartis announced FDA approval for an intravenous (IV) formulation of Cosentyx (secukinumab) for treating PsA, ankylosing spondylitis (AS), and non-radiographic axial spondyloarthritis (nr-axSpA). This is the first non-TNF-α IV treatment available for these conditions.

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