The psoriatic arthritis treatment market was valued at $7,860 million in 2018, and is estimated to reach at $13,744 million by 2026, registering a CAGR of 7.2% from 2019 to 2026.
Psoriatic arthritis is an autoimmune disease caused by an attack of body’s immune system on skin and joint. The disease is characterized by stiffness, swelling in the joints, and pain. Symmetric psoriatic arthritis, asymmetric psoriatic arthritis, spondylitis, distal psoriatic arthritis, and arthritis mutilans are the different types of psoriatic arthritis. Symptoms associated with this disorder include low back pain, conjunctivitis, swollen joint, nail pitting, and foot pain. The disorder is more prevalent among patients already suffering from psoriasis. Psoriatic arthritis can be diagnosed with tests such as rheumatoid factor (RF), joint fluid test, X-ray, and magnetic resonance imaging (MRI). Drugs used to treat psoriatic arthritis disease include NSAIDs, disease-modifying antirheumatic drugs (DMARDs), biologics, immunosuppressant drugs, and others.
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Significant increase in prevalence of psoriatic arthritis, rise in demand for psoriatic arthritis pharmacotherapy, strong pipeline of biosimilar & biologic products, stressful lifestyle resulting in the overstimulation of immune system, and rise in geriatric population are the key factors that fuel the growth of the global psoriatic arthritis treatment market. Moreover, rise in adoption of psoriatic arthritis treatment medications, increase in R&D activities to develop new products for effective treatment of psoriatic arthritis, frequent product launches by key players, surge in awareness toward availability of treatment for psoriatic arthritis, and increase in risk of diseases are other factors that contribute toward the growth of the market. However, lack of standardization tools for diagnosis and high cost of treatment are expected to hamper the market growth.
The global psoriatic arthritis treatment market is segmented into drug type, type, route of administration, and region. By drug type, the market is categorized into NSAIDs, DMARDs, biologics, and others. On the basis of type, the market is divided into prescription, and OTC. According to route of administration, it is segregated into topical, oral, and injectable. Region wise, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa and rest of LAMEA).
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
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Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
– The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
– It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on the prevailing market opportunities.
– A comprehensive analysis of all the geographical regions is provided to determine the existing opportunities.
– The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global market.
LIST OF KEY PLAYERS PROFILED IN THE REPORT
– AbbVie Inc.
– Amgen Inc.
– Bristol-Myers Squibb Company
– Celgene Corporation
– Eli Lilly And Company
– Johnson & Johnson
– Merck & Co Inc.
– Novartis AG
– Pfizer Inc.
– UCB S.A.
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request.)
– F. Hoffmann-La Roche AG
– Valeant Pharmaceuticals International, Inc.
– Abbott Laboratories
KEY MARKET SEGMENTS
By Drug Type
– NSAIDs
– DMARDs
– Biologics
– Others
By Type
– Prescription
– OTC
By Route of Administration
– Topical
– Oral
– Injectable
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By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
– Asia-Pacific
o Japan
o China
o Australia
o India
o South Korea
o Rest of Asia-Pacific
– LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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