Rise in prevalence of psoriasis & psoriatic arthritis disease, increase in number of pipeline drugs, and surge in government expenditure on healthcare have boosted the growth of the global psoriatic arthritis treatment market. However, poor demand in under-developed countries hamper the market. On the contrary, growth potential in the emerging market is expected to create lucrative opportunities in the near future.
Global psoriatic arthritis treatment industry was pegged at $7.86 billion in 2018, and is expected to reach $13.74 billion by 2026, growing at a CAGR of 7.2% from 2019 to 2026.
Prescription segment to manifest the fastest growth through 2026
The prescription segment is expected to manifest the fastest CAGR of 7.4% during the forecast period, owing to rise in demand for prescription drugs during the treatment of psoriatic arthritis without causing side effects. Moreover, the segment dominated the global psoriatic arthritis treatment market in 2018, accounting for more than four-fifths of the market. The report also analyzes the OTC segment.
Biologics segment dominated the market
By drug type, the biologics segment held the largest share in 2018, contributing to more than three-fifths of the global psoriatic arthritis treatment market. Moreover, the segment is expected to register the fastest CAGR of 7.9% during the forecast period. This is due to surge in patient awareness toward the availability of DMARDs drugs for psoriatic arthritis treatment, rise in prevalence of psoriatic arthritis, presence of biologics &biosimilars, and increase in healthcare expenditure in developed regions. The report includes an in-depth analysis other segments such as NSAIDs, DMARDs, and other.
Major market player
- AbbVie Inc.
- Bristol-Myers Squibb Company
- Amgen Inc.
- Eli Lilly And Company
- Celgene Corporation
- Merck & Co Inc.
- Johnson & Johnson
- Pfizer Inc.
- Novartis AG
- UCB S.A.
North America held the largest share
The global psoriatic arthritis treatment market across North America held the largest share in 2018, contributing for more than half of the market, owing to presence of key players in the region. Moreover, rise in prevalence of psoriatic arthritis disease, surge in demand for psoriatic arthritis treatment drugs, presence of advanced healthcare facilities coupled with trained medical professionals, and surge in number of R&D centers significantly contribute toward the growth of the North America market.
Read More: https://www.alliedmarketresearch.com/psoriatic-arthritis-treatment-market-A05951Jonepoul
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