Global Psoriatic Arthritis (PsA) Treatment Market Poised for Substantial Growth, Expected to Reach USD 25,375.6 Million by 2034

Posted on 2024-10-13 by Future Market Insights in Healthcare // 0 Comments

The global market for psoriatic arthritis (PsA) treatment is on track for significant expansion, projected to reach an impressive valuation of USD 11,973.7 million by 2024. This rapid growth reflects the increasing prevalence of psoriasis and its associated complications, which drive the urgent need for advanced and effective treatment solutions.

Psoriatic arthritis, characterized by symptoms such as morning stiffness, joint inflammation, and nail pitting, disproportionately affects individuals aged 50 to 60. As the global population continues to age, the demand for targeted and innovative therapies has surged. The growing number of PsA cases worldwide has prompted the development of a range of advanced treatments, including biologics, small molecules, and other targeted therapies.

Recent industry projections indicate a Compound Annual Growth Rate (CAGR) of 7.8% through 2034, with the PsA treatment market expected to double in size, reaching a valuation of USD 25,375.6 million. This remarkable growth is underpinned by rapid advancements in treatment options and significant investments in clinical research and development.

The introduction of new therapies with improved safety and efficacy has bolstered the market’s outlook, providing patients with more comprehensive care options. Industry leaders are keenly focused on enhancing patient outcomes and quality of life through cutting-edge innovations in both diagnostics and therapeutic approaches.

According to an analyst at FMI, “Manufacturers in the PsA treatment market are concentrating on broadening the spectrum of available treatment options. This involves not only the development of new pharmaceuticals but also exploring alternative treatments that could revolutionize the way PsA is managed.”

With continued commitment to research and development, the future of PsA treatment is bright, offering new hope for millions of individuals affected by this debilitating condition.

As the industry moves forward, ongoing efforts to expand treatment choices and improve patient outcomes will likely play a pivotal role in shaping the future landscape of PsA care.

Key Market Insights:

The PsA treatment market is expected to reach USD 11,973.7 million in 2024.
Biologics are projected to dominate the market, accounting for 57.2% of the market share in 2024.
Injectable drugs are anticipated to hold 84.9% of the market share.
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%.

Psoriatic Arthritis (PsA) Treatment Market Insights: Access Our Full Report for a Deep Dive into Emerging Trends!

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.

Key Segments of Psoriatic Arthritis (PsA) Treatment Market:

By Drug Type:

Based on the drug type, the psoriatic arthritis (PsA) treatment market can be segmented into the following segments: non-steroidal anti-inflammatory drugs, disease modifying anti-rheumatic drugs, and biologics. Disease-modifying anti-rheumatic drugs can be further separated into corticosteroids, antimalarial, methotrexate, and others. On the other hand, biologics can be bifurcated into TNF inhibitors and interleukin inhibitors.

By Route of Administration:

Based on the route of administration, the psoriatic arthritis (PsA) treatment market can be bifurcated into the following segments: injectable and oral.

By Distribution Channel:

Based on the distribution channel, the psoriatic arthritis (psa) treatment market can be segmented into the following segments: hospital pharmacies, retail pharmacies, and mail-order pharmacies.

By Region:

The sector has been analyzed with the following regions covered: 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.

Matched content

Editor’s pick