Global Psoriatic Arthritis Therapeutics Market is segmented By Drug Class (Nonsteroidal anti-inflammatory drug (NSAID), Disease-modifying antirheumatic drug (DMARD) (Antimalarials, Corticosteroids), Biologic drugs (TNF-alpha, IL-inhibitors, T cell inhibitors)), By Route of Administration (Oral, Parenteral, Topical), By Distribution Channel (Hospital pharmacies, Retail pharmacies, Online pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Market Overview
The Global "Psoriatic Arthritis Therapeutics Market" is expected to grow at a CAGR of 8.5% during the forecasting period (2022-2029).
Large patient population is suffering from moderate to severe psoriatic arthritis with unmet medical needs, and the number is increasing across the globe. According to the World Health Organization (WHO), in 2018, more than 150 million people around the world were affected by psoriasis, and 30% of the psoriasis population tend to develop psoriatic arthritis. This disease falls in the progressive category of diseases that may get worse over time. If left untreated, psoriatic arthritis may lead to joint damage permanently due to the degeneration of the cartilages present in the joints. Psoriatic arthritis is more likely to occur in adults. Men and women are equally affected by it and it occurs between the ages of 30 to 50 years. Many times, psoriatic arthritis is misdiagnosed as osteoarthritis, rheumatoid arthritis, or gout. People with psoriatic arthritis are more likely to suffer from high blood pressure, heart disease, high cholesterol, and diabetes. The disease can be ruled out with blood tests and other imaging techniques like Magnetic resonance imaging, ultrasound scan and x-ray of the back, hand feet. Treatment of psoriatic arthritis involves the use of biologic drugs, enzyme inhibitors, disease-modifying rheumatoid arthritis drugs, and nonsteroidal anti-inflammatory drugs. Several drugs are into clinical testing which depicts the possibility of discovering new molecules with maximum activity and minimum side effects.
Market Dynamics
The market is driven by an increase in the prevalence of psoriatic arthritis, new product development, a rise in adoption of biologics for the treatment of moderate to severe psoriatic arthritis, and a large patient population with unmet medical needs across the globe.
Prescribed drugs for psoriatic arthritis include immune-suppressing drugs, non-steroidal drugs, and various biologics. Biologics majorly works by stopping the inflammatory condition. Tumor necrosis factor (TNF) and interleukin (IL) inhibitors are mostly used to treat psoriatic arthritis. The current research trend depicts that more emphasis is given to biologics. Biosimilar TNF alpha inhibitors present a more significant challenge to broader uptake of Novartis’ IL-17 inhibitor, Cosentyx, and Eli Lilly’s Taltz. The companies are developing new biologics based on IL-17 inhibitors.
The high cost of the drugs, generic erosion and treatment, and lack of standardization tools for diagnosis and treatment is going to restrain the market in the forecast period.
Market Segmentation
The global psoriatic arthritis therapeutics market can be segmented by drug class as Nonsteroidal anti-inflammatory drugs (NSAIDs), Disease-modifying antirheumatic drugs (DMARD), and biologic drugs. DMARDs is further segmented as antimalarials and corticosteroids; and the biologic drug is further segmented as TNF-alpha inhibitors, IL-inhibitors, and T cells inhibitors. By route of administration the market is segmented as oral, parenteral, and topical and by distribution channels as hospital pharmacies, retail pharmacies, and online pharmacies.
By route of administration, oral treatment is expected to dominate the psoriatic arthritis market. The Food and Drug Administration (FDA) has approved Celgene Corporation’s apremilast (Otezla), the first selective inhibitor of phosphodiesterase 4 (PDE4) prescribed for adults with moderate to severe plaque psoriasis, in March 2014. Otezla shows great improvement in the signs and symptoms of psoriatic arthritis. Otezla also offers patients and physicians a new psoriatic arthritis treatment option which increases the adoption of oral treatment.
Geographical Share
Geographically, the global Psoriatic Arthritis Therapeutics market is divided into North America, Europe, South America, Asia-Pacific, and the Middle East and Africa.
North America is expected to account for the highest share of the global market by 2026. High prevalence of psoriatic arthritis, increase in adoption of biological drugs for the treatment of moderate to severe psoriatic arthritis, and anticipated new product approvals are likely to fuel the psoriatic arthritis therapeutics market in North America. According to the Centre for Disease Control and Prevention (CDC), in 2017 around 1% of the total population of North America was suffering from psoriatic arthritis. In the US, psoriatic arthritis occurs in about 2% of the population and equally among both the sexes.
According to National Psoriasis Foundation, there are about 10 genes that seem to have an important role in Caucasian individuals in terms of predisposing them to psoriatic arthritis, but those same 10 genes did not appear to have any sort of effect in the Asian population, hence psoriatic arthritis is about five times more common in people of European descent than in people of Asian descent.
Competitive Analysis
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Some of the major key players in the market are AbbVie, Inc., Janssen Biotech, Inc., Novartis AG, Amgen, Inc., Celgene Corporation, Pfizer, Inc., Eli Lilly and Company, UCB, Inc., Biogen Inc., Bristol-Myers Squibb Company. Few of the recent key developments of the major companies include –
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In April 2019, China Health Authority NMPA approved Cosentyx (secukinumab) for moderate-to-severe psoriatic arthritis in adult patients who are candidates for systemic therapy or phototherapy.
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In March 2019, AbbVie announced that the Japanese Ministry of Health, Labor, and Welfare (MHLW) has approved SKYRIZI (risankizumab), an interleukin-23 (IL-23) inhibitor, for the treatment of plaque psoriasis, generalized pustular psoriasis, erythrodermic psoriasis, and psoriatic arthritis in adult patients who have an inadequate response to conventional therapies.
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In November 2018, AbbVie announced patent license agreements with Pfizer over its proposed biosimilar adalimumab product. Under the terms of the agreements, AbbVie will grant Pfizer a non-exclusive license on specified dates to AbbVie's intellectual property relating to HUMIRA in the United States and in various other countries around the world in which AbbVie has intellectual property
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In October 2018, Sandoz received US FDA approval for biosimilar Hyrimoz (adalimumab-adaz), used for the treatment of psoriatic arthritis.
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In October 2018, Novartis received approval from European Commission on label update for Cosentyx (secukinumab). Cosentyx is the first and only fully-human treatment that specifically inhibits interleukin-17A (IL-17A), in psoriatic arthritis.
Trending Topics
Psoriatic Arthritis – Pipeline Insight, 2018