Market Size of Psoriatic Arthritis Therapeutics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.65 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Psoriatic Arthritis Therapeutics Market Analysis
The psoriatic arthritis therapeutic market is expected to register a CAGR of 6.65% over the forecast period.
- The psoriatic arthritis therapeutic market was significantly impacted by the COVID-19 pandemic, with regulatory bodies suggesting that patients receiving psoriasis treatment are at higher risk of infection. In March 2020, the International Psoriasis Council recommended that physicians discontinue or postpone the prescription of immunosuppressive medications.
- However, in early 2021, researchers from the Perelman School of Medicine at the University of Pennsylvania, in collaboration with the National Psoriasis Foundation, created guidelines to care for psoriasis patients during the pandemic, finding no evidence that medical interventions to treat psoriasis and psoriatic arthritis should be interrupted or altered to minimize COVID-19 risks. The market has returned to pre-pandemic levels in terms of demand for therapeutics and is expected to experience strong growth in the coming years.
- Obesity is a major factor that can exacerbate the development of psoriatic arthritis. According to the World Health Organization, 39 million children under the age of 5 were overweight or obese in 2021, with one in five children and adolescents globally being overweight. Lifestyle-related disorders such as anxiety, stress, smoking, and drinking, prevalent in developed countries, have contributed to the increasing incidence of obesity. Other factors, such as an unhealthy lifestyle with alcohol and smoking, may also increase the risk of developing psoriatic arthritis.
- The development of new therapeutic methods, such as novel drugs with oral administration, is expected to drive market growth. For example, Janssen Pharmaceutical Companies of Johnson & Johnson announced a new posthoc analysis of the Phase 3 DISCOVER program evaluating TREMFYA (guselkumab) in adult patients with active psoriatic arthritis. The results showed that early skin and enthesitis responses predicted longer-term clinical responses, including disease remission, at week 52. Additionally, regulatory authorities approving new drugs, such as AbbVie's SKYRIZI (risankizumab-rzaa), an interleukin-23 (IL-23) inhibitor for treating adults with active psoriatic arthritis, are also contributing to market growth.
- Despite the abovementioned factors, the high cost of treatment is expected to hamper market growth.
