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Global Psoriatic Arthritis Treatment Market, by Drug Class (NSAIDs (Non-steroidal Anti-inflammatory Drugs), DMARD (Non-biologic Disease Modifying Anti-Rheumatic Drugs), Biologics, and 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, and Psoriatic Arthritis Mutilans), by Drug Type (Prescriptions and Over-the-counter), by Route of Administration (Topical, Oral, and Injectable), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.

Key players operating in the market are focusing on receiving product approvals from regulatory authorities and this is expected to drive the market growth over the forecast period.

For instance, in November 2020, Janssen Biotech, Inc., a U.S.-based biotechnology company, received European Commission approval for its drug Guselkumab (Tremfya), which is indicated for the treatment of active psoriatic arthritis in adults.

Global Psoriatic Arthritis Treatment Market – Impact of Coronavirus (COVID-19) Pandemic

COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 211 million cases and 4.4 million deaths due to Coronavirus (COVID-19) were reported till August 22, 2021, across the globe.

The COVID-19 pandemic has affected several markets across the globe and is expected to hamper the demand and supply in global psoriatic arthritis treatment market. The COVID-19 pandemic has affected the demand and supply of global psoriatic arthritis treatment market in three main ways; by directly affecting the production and demand for medical ultrasonic probe covers; by creating disruptions in distribution channels; and by its financial impact on firms and markets. Supply chain and manufacturing activities of medical ultrasonic probe covers in India, China, and the U.S. are disrupted due to nationwide lockdowns. Furthermore, the COVID-19 pandemic has negatively impacted the global economy and in turn, the psoriatic arthritis treatment market. Quarantines, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending.

Browse 40 Market Data Tables and 32 Figures spread through 170 Pages and in-depth TOC on “Psoriatic Arthritis Treatment Market”- Global Forecast to 2028, by Drug Class (NSAIDs (Non-steroidal Anti-inflammatory Drugs), DMARD (Non-biologic Disease Modifying Anti-Rheumatic Drugs), Biologics, and Others {Others includes Immunosuppressant, Enzyme Inhibitor, and Interleukin Inhibitors}), by Disease Type (Asymmetric Psoriatic Arthritis, Symmetric Psoriatic Arthritis, Distal Interphalangeal Predominant (Dip) Psoriatic Arthritis, Psoriatic Spondylitis, and Psoriatic Arthritis Mutilans), by Drug Type (Prescriptions and Over-the-counter), by Route of Administration (Topical, Oral, and Injectable), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the global psoriatic arthritis treatment market, click the link below:

https://www.coherentmarketinsights.com/market-insight/psoriatic-arthritis-treatment-market-4624

Key players operating in the market are focusing on adoption of inorganic growth strategies such as collaborations, mergers, acquisitions, and others in order to strengthen their position in the market. For instance, in November 2019, Bristol-Myers Squibb Company, a U.S. - based pharmaceutical company, announced that the company has merged with Celgene Corporation, a U.S.-based pharmaceutical company, to expand its product portfolio by adding OTEZLA (apremilast), manufactured by Celgene Corporation.  OTEZLA is a generic drug used for the treatment of psoriatic arthritis, Behcet’s Syndrome, and plaque psoriasis in adults.

Key Takeaways of the Global Psoriatic Arthritis Treatment Market:

  • The global psoriatic arthritis treatment market is expected to exhibit a CAGR of 8.4% over the forecast period, owing to launch and approval of drugs used for psoriatic arthritis treatment. For instance, in October 2017, Glenmark Pharmaceutical Ltd., an India-based pharmaceutical company, received approval from the Drug Controller General of India to launch its drug apremilast, which can be used for the treatment of active psoriatic arthritis in adults.
  • Among drug class, biologics segment is expected to account for the largest market share in 2021, owing to market players focusing on rapid research and development of drugs used for the treatment of psoriatic arthritis. For instance, in November 2020, Novartis AG, a Switzerland-based pharmaceutical company, announced positive Phase 3 clinical trial results for its drug Cosentyx (secukinumab) which is indicated for the treatment of synovitis (joint lining inflammation) in psoriatic arthritis patients.
  • Key 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
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