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:
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.
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.
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.
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.