PSORIATIC ARTHRITIS TREATMENT MARKET ANALYSIS
Global psoriatic arthritis treatment market is estimated to be valued at USD 11.10 Bn in 2024 and is expected to reach USD 21.11 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.6% from 2024 to 2031.
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Global psoriatic arthritis treatment market growth is driven by rising prevalence of psoriatic arthritis across the world. Technological advancements in diagnosis and treatment of psoriatic arthritis have led to development of newer drug classes such as interleukin inhibitors, which have improved clinical outcomes and quality of life of patients. Rising awareness regarding early diagnosis and treatment of psoriatic arthritis can drive the market growth during the forecast period. However, high costs associated with biologic drugs for psoriatic arthritis treatment and patent expiries of blockbuster drugs can hamper the market growth.
Market Driver - Rising prevalence of psoriatic arthritis
According to latest available estimates, nearly 30 million people worldwide suffer from psoriasis. Out of which, approximately 30% of patients suffer from psoriatic arthritis (PsA). PsA causes inflammation and stiffness in and around the joints, and can severely impact the quality of life. Factors like genetic predisposition, excessive weight, smoking, and certain gut diseases have been linked to higher risks of developing psoriasis and PsA. With rising global prevalence of psoriasis and increasing awareness, more and more people are being diagnosed with PsA each year.
Most physicians earlier assumed PsA to be a minor issue or a precursor to psoriasis but now clearly recognize it as a chronic inflammatory disease requiring long term treatment approach. Improved diagnostic methods allow early detection and monitoring of joint damage. Population based studies show that nearly 50% of patients experience PsA onset before psoriasis, indicating delayed diagnosis is often the case. Even in developed markets, many patients have undiagnosed PsA for years, which has caused permanent joint damage by the time it was detected. Growing health impacts of PsA in terms of physical disability, impaired body functions, and mental health issues compel patients to seek treatment options.
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Increasing R&D investments by key players
Top pharmaceutical players have recognized the commercial potential in developing innovative therapeutics for psoriatic arthritis due to its large underserved patient base across global markets. Massive R&D spending in recent years on target pathway drug development specifically for PsA has generated positive clinical outcomes. Successful approval and uptake of novel biologics has validated the need for more effective treatment alternatives beyond traditional disease-modifying anti-rheumatic drugs (DMARDs).
Complex molecular pathways associated with chronic inflammation in PsA present multiple lucrative therapeutic targets. Advance research on genes, biomarkers and immunological mechanisms driving PsA pathogenesis have opened up new directions for precision therapies. Companies are exploring monoclonal antibodies, small molecule inhibitors and cell/gene therapies focused on specific targets involved in immune system dysregulation and cytokine signaling linked to PsA. First-in-class new chemical entities achieving superior efficacy with better safety profiles than existing drugs offer a competitive strategic advantage and market exclusivity.
Several big pharma companies have set up dedicated research divisions and global clinical trial networks to expedite development while accessing diverse patient pools. Higher R&D budgets and strategic collaborations allow testing diverse treatment paradigms for better disease modification and functional restoration in joints. First-mover products entering a space deficient in solutions could corner a major share of the PsA market in the long run.
Key Takeaways from Analyst:
Global psoriatic arthritis treatment market growth is driven by growing awareness and timely diagnosis of psoriatic arthritis. However, high cost of biologic treatments can hamper the market growth, especially in price-sensitive developing markets.
North America currently dominates the market due to strong presence of major players and growing adoption of expensive biologic drugs in the U.S. Europe is also a prominent regional market due to favorable reimbursement schemes for arthritis drugs in many countries.
Asia Pacific will emerge as the fastest growing market, fueled by China and India's rapidly developing healthcare infrastructure, and increasing healthcare spending in these countries. Growing middle-class populations with greater affordability for specialty drugs will boost the accessibility of advanced psoriatic arthritis care in Asia.
Among treatment types, targeted immunosuppressant therapies including IL inhibitors such as Cosentyx and Taltz are gaining market share. This is mainly owing to their superior efficacy over traditional disease-modifying antirheumatic drugs and corticosteroids, with a well-established safety profile.
Market Challenge - High treatment costs
Global psoriatic arthritis treatment market growth can be hampered due to high treatment costs associated with biologic drugs that are primarily used for effective treatment of the disease. Psoriatic arthritis, being a chronic and progressive autoimmune disease, requires long-term treatment often lasting for many years. The currently available biologic drugs that target specific molecules like TNF-alpha and IL proteins are very effective but also expensive, with an average annual cost of therapy ranging from US$ 20,000 to US$ 50,000 per patient. This makes such treatments largely inaccessible for a huge population globally. The development of cheaper generic versions called biosimilars can help lower the costs but these still remain significantly higher than traditional DMARDs. High cost of disease management poses a major barrier in ensuring effective treatment for all patients suffering from psoriatic arthritis worldwide.
Market Opportunity - Development of Biosimilars
Global psoriatic arthritis treatment market can offer growth opportunities due to development of biosimilar drugs. Biosimilars are essentially cheaper generic versions of original patented biologics whose patents have expired. With patents of some major blockbuster biologics like Humira, Remicade and Enbrel expiring in the next few years, numerous pharma companies are in the race to develop high quality biosimilars for these drugs. This can significantly lower treatment costs, with biosimilars likely being priced 20-30% lower than originator biologics. Increased adoption of such lower-cost biosimilars can enhance affordability and accessibility of biologic treatment regimens for psoriatic arthritis patients globally. It will also offer pharma companies an attractive revenue opportunity in the market.
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By Drug Class - Growing demand for targeted therapies drives biologics segment growth
In terms of drug class, biologics segment is estimated to contribute the highest market share of 50% in 2024, owing to their targeted approach. Biologics such as tumor necrosis factor (TNF) inhibitors directly target specific components of the immune system associated with psoriatic arthritis, offering more effective relief of symptoms compared to traditional non-biologics. As the pathophysiology of psoriatic arthritis becomes better understood, biologics that block cytokines like TNF, interleukin-17 (IL-17), and interleukin-23 (IL-23) have revolutionized treatment. Patients and physicians alike recognize that biologics provide superior clinical efficacy in relieving pain, swelling and stiffness with many able to achieve disease remission. Their targeted mechanism allows biologics to offer a favorable safety profile compared to non-biologics, which carry risks of broad immune suppression. With fewer undesirable side effects, patient compliance for biologic regimens tends to be higher than for non-biologics. As healthcare providers aim to minimize disease progression and disability, these increasingly rely on biologics as first-line therapies. This trend is supported by clinical practice guidelines that recommend biologics for patients with moderate to severe psoriatic arthritis. Favorable reimbursement also facilitates biologics access in many regions. These factors drive the biologics segment growth.
By Product Type - Convenience and compliance advantages boosts demand for prescription drug
In terms of product type, prescription segment is estimated to contribute the highest market share of 54% in 2024. Unlike over-the-counter (OTC) alternatives, prescription medications for psoriatic arthritis directly target underlying disease mechanisms, offering patients more effective symptom relief. Prescriptions can be tailored to an individual's condition severity and medical history to optimize therapy based on a provider's expertise. Their administration may require less frequent dosing compared to some OTC options, promoting treatment adherence critical to managing a chronic condition like psoriatic arthritis. Prescription fill data further enables healthcare professionals to monitor patients, identify any lapses in compliance, and adjust treatment plans accordingly. This facilitates optimal clinical outcomes. Prescription drugs tend to be covered by insurance as well, lowering out-of-pocket costs for patients versus paying cash for OTC products. Convenient characteristics like syncing prescription refills with other medications support compliance. All these factors drive preference for prescription drugs, versus OTC alternatives, as the primary treatment approach in managing psoriatic arthritis over the long-term.
By Route of Administration - Parenteral segment dominate due to superior delivery route
In terms of route of administration, parenteral segment is estimated to contribute the highest market share of 63% in 2024, owing to benefits over oral delivery. Biologic drugs that suppress inflammation through targeted cytokine inhibition have revolutionized treatment but require injection or infusion administration. While this introduces inconvenience versus oral pills, the parenteral route ensures reliable and predictable absorption of these large molecule drugs. It allows therapeutic levels to be achieved more consistently compared to oral administration, which is subject to variable digestive breakdown and "first-pass metabolism" effects within the liver.
Injection sites can be rotated to minimize discomfort or irritation at any one location over time. Healthcare providers are well-versed in safely administering parenteral drugs and monitoring for side effects. Practitioners regularly educate patients on proper self-injection techniques to boost comfort levels. Reimbursement programs and specialty pharmacy services also help manage costs and support needs for parenteral biologics over the long-term. These collective advantages of the parenteral administration route drive its market share dominance for treating psoriatic arthritis, especially as biologics become standard first-line therapies.
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North America has established itself as the dominant player in the global psoriatic arthritis treatment market with an estimated market share of 40.2% in 2024. With a well-developed healthcare infrastructure and high per capita healthcare expenditure, the U.S. accounts for the majority of the regional market share. Several leading pharmaceutical companies focused on rheumatology have their headquarters in the U.S., enabling strong R&D focus and rapid new product launches. Furthermore, presence of a large patient population and higher disease awareness levels have boosted demand and uptake of advanced treatment therapies. However, price controls and regulations imposed by regulatory authorities have also led to pricing pressures in the U.S. market.
Asia Pacific represents the fastest growing regional market due to rapidly developing healthcare infrastructure across major countries like China and India. Growing medical tourism coupled with increased accessibility of treatment options drives the regional market growth. Economic growth has raised disposable incomes, allowing for higher out-of-pocket spending on specialty therapies. Presence of several contract manufacturers engaged in active pharmaceutical ingredients and drug formulation has further strengthened the Asia Pacific industry landscape. However, lack of stringent regulatory guidelines and intellectual property protection pose challenges to market growth.
European market, though well-established, still presents significant opportunities for market players. Presence of universal healthcare coverage combined with supportive government policies ensure affordable access and widespread adoption of advanced therapies. Germany, France and the U.K. collectively account for the lion's share of the region's market owing to their strong economies and focus on specialty care. Meanwhile, initiatives promoting biosimilars are exerting downward pricing pressures on innovator brands. Stringent regulations pertaining to clinical trials and product approvals delay market entry of new therapies. Regional players also face intense competition from global pharma majors headquartered outside of Europe.
Psoriatic Arthritis Treatment Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2023 | Market Size in 2024: | US$ 11.10 Bn |
| Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 to 2031 |
| Forecast Period 2024 to 2031 CAGR: | 9.6% | 2031 Value Projection: | US$ 21.11 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Medtronic, Johnson & Johnson (DePuy Synthes), Zimmer Biomet, Stryker, Xtant Medical, RTI Surgical, SeaSpine, Arthrex, HansBioMed, Exactech, Wright Medical Group, Bioventus, Integra LifeSciences, AlloSource, Medline Industries, Osiris Therapeutics, Acelity, Orthofix, MTF Biologics, Cerapedics |
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*Definition: Global Psoriatic Arthritis Treatment Market involves pharmaceutical and biopharmaceutical companies developing, manufacturing, and marketing drug therapies to treat psoriatic arthritis. It covers oral and injectable medications for reducing joint swelling and pain, slowing disease progression, and improving physical function in patients suffering from this chronic inflammatory arthritis condition. Major products in this market include tumor necrosis factor inhibitors, interleukin inhibitors, conventional systemic therapies, and biosimilars.
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About Author
Ghanshyam Shrivastava - With over 20 years of experience in the management consulting and research, Ghanshyam Shrivastava serves as a Principal Consultant, bringing extensive expertise in biologics and biosimilars. His primary expertise lies in areas such as market entry and expansion strategy, competitive intelligence, and strategic transformation across diversified portfolio of various drugs used for different therapeutic category and APIs. He excels at identifying key challenges faced by clients and providing robust solutions to enhance their strategic decision-making capabilities. His comprehensive understanding of the market ensures valuable contributions to research reports and business decisions.
Ghanshyam is a sought-after speaker at industry conferences and contributes to various publications on pharma industry.
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