Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Psoriatic arthritis is an inflammatory autoimmune disease wherein the immune system of the body identifies its own skin cells as a foreign entity and starts to attack it. Psoriatic arthritis causes inflammation of joints and entheses, the place where the ligaments or tendons are connected to the bone. The inflammation of entheses is termed as Enthesitis and can be seen at the bottom of feet, Achilles tendons, pelvis, ribs, and spine. If untreated, enthesitis may lead to calcification or fibrosis of tissues. Psoriatic arthritis in the spine is known as psoriatic spondylitis which may cause swelling and stiffness in areas such as lower back, spinal vertebrae, pelvic, neck, and others. Spondylitis can cause inflammation in ligaments and joints of arms, hips, feet, legs, and others. Psoriatic arthritis may also cause inflammation of fingers and toe in an asymmetrical manner. This inflammatory condition is termed as Dactylitis or sausage digits. The severity of psoriatic arthritis can range from mild to severe. Oligoarticular psoriatic arthritis is a milder type of psoriatic arthritis wherein, up to four joints are affected while polyarticular psoriatic arthritis is a more severe type wherein, more than four joints are affected.
The global psoriatic arthritis treatment market is estimated to be valued at US$ 10,100.9 million in 2021 and is expected to exhibit a CAGR of 8.4% over the forecast period (2021-2028).
Figure 1. Global Psoriatic Arthritis Treatment Market Share (%), By Region, 2021
The increasing incidence of psoriatic arthritis and psoriasis is expected to drive the growth of the global psoriatic arthritis treatment market over the forecast period.
For instance, according to a review article published by the Clinical and Experimental Rheumatology in March 2019, the prevalence of psoriatic arthritis was estimated to be around 1/100,000 people in Japan and 420/100,000 people in Italy in 2019.
Psoriatic Arthritis Treatment Market Report Coverage
||Market Size in 2021:
||US$ 10,100.9 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 17,765.0 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Drug Class: NSAIDs (Non-steroidal Anti-inflammatory Drugs, DMARD (Non-biologic Disease Modifying Anti-Rheumatic Drugs), Biologics, Others (Others include Immunosuppressant, Enzyme Inhibitor and Interleukin Inhibitors)
- By Disease Type: Asymmetric Psoriatic Arthritis, Symmetric Psoriatic Arthritis, Distal Interphalangeal Predominant (Dip) Psoriatic Arthritis, Psoriatic Spondylitis, Psoriatic Arthritis Mutilans
- By Drug Type: Prescriptions, Over-the-counter
- By Route of Administration: Topical, Oral, Injectable
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
AbbVie Inc., Otsuka Pharmaceutical Co., Ltd., Amgen Inc., Sanofi S.A., Johnson & Johnson Services, Inc., Novartis International AG, AstraZeneca, Bausch Health Companies Inc., Janssen Biotech, Inc., Bristol-Myers Squibb Company, Eli Lilly and Company, Pfizer, Inc., UCB S.A., Sun Pharma Global FZE, AltruBio, Merck & Co Inc., and Celgene Corporation
- Increasing prevalence of psoriasis and psoriatic arthritis
- Increasing products approval and launches
|Restraints & Challenges:
- High cost of psoriatic arthritis drugs
- Adverse effects of psoriatic arthritis drugs
Figure 2. Global Psoriatic Arthritis Treatment Market Value (US$ Mn), By Drug Class, 2021
The increasing research and development activities for the development of novel therapeutics for the treatment of psoriatic arthritis is expected to drive the market growth over the forecast period.
Key players operating in the market are focusing on submitting application for approval of drugs for the treatment of psoriatic arthritis, which is expected to drive the growth of the global psoriatic arthritis treatment market over the forecast period.
For instance, in April 2021, AbbVie Inc., a U.S.-based biopharmaceutical company, announced that the company had submitted Biologics License Application to the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) in order to seek approval for its drug SKYRIZI. SKYRIZI is an interleukin inhibitor which can be used for the treatment of active psoriatic arthritis in adults.
Moreover, according to ClinicalTrials.gov, a Phase 3 clinical trial study was initiated by AbbVie Inc. in March 2019 to determine the potential use of its drug Risankizumab (SKYRIZI) in patients suffering from active psoriatic arthritis who are intolerant to biologic therapy or non-biologic disease-modifying anti-rheumatic drugs (DMARDs). The Phase 3 results of SKYRIZI show that the drug is safe and effective to be used for the treatment of active psoriatic arthritis in adults.
Global Psoriatic Arthritis Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
Severe acute respiratory syndrome coronavirus (SARS-CoV-2) emerged from Wuhan, China in December 2019 and was declared a global pandemic by the World Health Organization (WHO) in January 2020. According to the World Health Organization weekly COVID-19 update published on August 25, 2021 COVID-19 has spread across the globe infecting over 211 million population leading to more than 4.4million deaths. The impact of COVID-19 on the healthcare domain is huge and it has significantly disrupted the healthcare industry’s entire supply chain, from raw materials to manufacturing and delivery. Similarly, COVID-19 pandemic is expected to hamper the overall growth of global psoriatic arthritis treatment market during the pandemic.
However, in some cases psoriatic arthritis has been seen to be associated with COVID-19 infection and this is expected to show growth in the global psoriatic arthritis treatment market during the pandemic. For instance, according to an article published in the Oxford University Press Public Health Emergency Collection Journal in November 2020, Humanitas Clinical and Research Center in Milan had reported the first COVID-19 triggered psoriatic arthritis case of a 27-year old woman who has developed spondyloarthritis simultaneously with COVID-19 infection.
Global Psoriatic Arthritis Treatment Market: Restraint
The high cost and adverse effects of drugs used in the treatment of psoriatic arthritis are the factors that are expected to hinder the growth of the global psoriatic arthritis treatment market over the forecast period. For instance, according to a Brazilian study published by the Frontiers of Pharmacology Journal in September 2019, around 25% people showed severe adverse effects while around 43.3% people showed at least one adverse reaction associated with biologics used for the treatment of psoriatic arthritis and rheumatoid arthritis.
Major players operating in the global psoriatic arthritis treatment market include AbbVie Inc., Otsuka Pharmaceutical Co., Ltd., Amgen Inc., Sanofi S.A., Johnson & Johnson Services, Inc., Novartis International AG, AstraZeneca, Bausch Health Companies Inc., Janssen Biotech, Inc., Bristol-Myers Squibb Company, , Eli Lilly and Company, Pfizer, Inc., UCB S.A., Sun Pharma Global FZE, AltruBio, Merck & Co Inc., and Celgene Corporation