The worldwide psoriatic arthritis market is anticipated to increase during the forecast period as manufacturers in the market concentrate on getting medicinal approvals from regulatory agencies. Over the projected period, distribution agreements and partnerships between key players are anticipated to accelerate market expansion. For instance, Can-Fite BioPharma Ltd. announced in August 2019 that it had signed a distribution agreement with Kyongbo Pharm Co., Ltd., a pharmaceutical and medicine manufacturing industry, to distribute Can-lead Fite's drug candidate, Piclidenoson (CF101), for the treatment of psoriasis in South Korea. The biotechnology company is advancing a pipeline of proprietary small molecule drugs that address cancer, liver, and inflammatory diseases.
The global Psoriatic Arthritis Market is estimated to be valued at US$ 8,953.9 Mn in 2021 and is expected to exhibit a CAGR of 11.40% over the forecast period (2021-2028).
Market Leaders in the Psoriatic Arthritis Industry:
1. Abbvie Inc.
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company was incorporated in 2012 and is headquartered in North Chicago, Illinois. AbbVie Inc. has a research collaboration with Dragonfly Therapeutics, Inc.
2. Amgen Inc.
Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. It has an agreement with Kyowa Kirin Co., Ltd. to jointly develop and commercialize KHK4083, a Phase 3-ready anti-OX40 fully human monoclonal antibody for the treatment of atopic dermatitis and other autoimmune diseases; and research and development collaboration with Neumora Therapeutics, Inc. and Plexium, Inc. Amgen Inc. was incorporated in 1980 and is headquartered in Thousand Oaks, California.
3. Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company was founded in 1886 and is based in New Brunswick, New Jersey. On October 2022, The U.S. Food and Drug Administration (FDA) has approved Johnson & Johnson's therapy for treating a type of multiple myeloma, the company said on Tuesday, giving another treatment option to patients with the incurable blood cancer.
4. Bristol-Myers Squibb Company
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products globally from 1887. The company was headquartered in New York, New York. In September, 2022 announced that the U.S. Food and Drug Administration (FDA) approved Sotyktu™ (deucravacitinib), a first-in-class, oral, selective, allosteric tyrosine kinase 2 (TYK2) inhibitor, for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy.
5. Novartis International AG
Novartis AG researches, develops, manufactures, and markets healthcare products in Switzerland and internationally. The company operates through two segments: Innovative Medicines and Sandoz. Novartis AG was incorporated in 1996 and is headquartered in Basel, Switzerland. Novartis AG has a license and collaboration agreement with Alnylam Pharmaceuticals to develop, manufacture, and commercialize inclisiran, a therapy to reduce LDL cholesterol.
6. Eli Lilly and Company
Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. Eli Lilly and Company was founded in 1876 and is headquartered in Indianapolis, Indiana.
7. Pfizer Inc.
Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Myovant Sciences Ltd.; Akcea Therapeutics, Inc; Merck KGaA; Valneva SE; BioNTech SE; and Arvinas, Inc. on December 2022, Pfizer Presents Updated Favorable Elranatamab Data from Pivotal Phase 2 MagnetisMM-3 Trial, early and deep responses, and a manageable safety profile for elranatamab in heavily pretreated patients with advanced multiple myeloma.
8. UCB S.A.
UCB SA, a biopharmaceutical company, develops products and solutions for people with neurology and immunology diseases. The company was incorporated in 1925 and is headquartered in Brussels, Belgium. It operates in the United States, Japan, Germany, rest of Europe, Spain, France, Italy, the United Kingdom, Ireland, China, Belgium, and internationally.
9. AstraZeneca plc
AstraZeneca PLC was incorporated in 1992.The company is headquartered in Cambridge, the United Kingdom and operational in more than 100 countries. AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines. In December, 2022 AstraZeneca’s Calquence (acalabrutinib), a selective Bruton’s tyrosine kinase (BTK) inhibitor, has been approved in Japan for the treatment of adult patients with treatment-naïve chronic lymphocytic leukaemia (CLL)
*Definition- Psoriatic arthritis can make your joints and the areas around them painful, swollen, and stiff. Those who already have psoriasis on their skin are impacted.
