Psoriatic Arthritis Treatment Market Size, Share & Trends Analysis Report By Drug Class (NSAIDs, DMARDs, Biologics), By Product (Prescriptions, OTC), By Type, By Route of Administration, And Segment Forecasts, 2019 - 2026

Industry Insights

The global psoriatic arthritis treatment market size was valued at USD 8.6 billion in 2018 and is estimated to expand at a CAGR of 10.1% over the forecast period. The promising pipeline, new product launches, increasing disease burden, and a significant rise in consumer awareness are some of the factors expected to fuel the growth.

Psoriatic arthritis is a chronic degenerative condition associated with psoriasis. In the absence of proper and timely treatment, the disease may lead to irreversible joint damage. Although the exact causative factors remain unknown, research suggests that nearly 40% of cases are attributable to genetic factors.

Psoriatic arthritis may be misdiagnosed as rheumatoid arthritis or gout. However, heightened consumer awareness, aided by multiple campaigns organized by private and public organizations, is likely to reduce the rates of misdiagnosis or incorrect treatment. In addition, the high cost of treatment, and the adverse effects of some drugs are expected to restrain market growth.

There is a significant paradigm shift in the treatment of psoriatic arthritis, driven by the targeted action of biologics and the emergence of biosimilars. However, the consumer demand for cost-effective medicines with improved safety and efficacy profiles is likely to have a positive impact on market dynamics.

Drug Class Insights

Biologics led the Psoriatic Arthritis (PsA) Treatment market in 2018, capturing more than half the revenue share. The drug class is not only expected to retain its dominance but is also anticipated to witness the fastest growth through the forecast period. The segment is projected to register 10.5% CAGR during the forecast period, collectively fueled by strong commercial performances of existing products and the impending launches of promising pipeline candidates.

The wave of interleukin inhibitors pose an intense competitive threat to the TNF alpha inhibitors due to their improved safety and efficacy profiles and superior results in head-to-head trials. Infliximab, guselkumab, bimekizumab, risankizumab, and tildrakizumab are some of the promising pipeline candidates, expected to propel the market growth. Furthermore, the emergence of biosimilars is a key growth rendering factor for the market.

NSAIDs are likely to lose market shares due to the availability of alternatives with improved safety and efficacy profiles and better results. DMARDs are projected to maintain their presence on account of their first-line of treatment, demand, and applicability of corticosteroids, and the forthcoming launches of key pipeline products, such as upadacitinib, filgotinib, and BMS-986165.

Product Type Insights

Prescription drugs led over Over-the-Counter (OTC) products in 2018, and are likely to maintain the lead throughout the forecast period. As most biologics and DMARDs are sold as prescriptions, the segment held the majority of revenue share in 2018.

Some NSAIDs indicated for psoriatic arthritis are available as OTC products. OTC medicines, indicated for psoriatic arthritis, are likely to lose shares over the forecast period. The declining trend is attributed to the increasing presence of biologics and biosimilars, which are sold only on prescription.

Route of Administration Insights

Injectables led psoriatic arthritis (PsA) treatment market, in terms of the route of administration. The segment is also likely to witness a rapid growth over the forecast period, driven by the anticipated launches of biologics and biosimilars. Most biologics are injected through the subcutaneous or intravenous routes.

Topicals are anticipated to witness a significant decline in market shares, due to the presence of improved alternatives with more effective mechanisms of action. Oral products are likely to maintain their market shares through the forecast period.

Regional Insights

North America and Europe, collectively, contributed to more than half the overall revenue in 2018. North America led the regional markets, largely driven by the commercial sales of products in the U.S. In addition, the presence of key manufacturers, proactive government initiatives, favorable reimbursement policies, and a large patient pool support the PsA treatment market growth.

Asia Pacific is expected to be one of the fastest-growing regions during the forecast period. The trend of biosimilars in emerging markets such as China, India, and South Korea, is a key propeller for growth. In addition, the overall economic development, improvement in healthcare infrastructure, increase in disposable income, and rise in consumer awareness are likely to contribute to the regional growth rate.

Psoriatic Arthritis Treatment Market Share Insights

Some of the key players include AbbVie Inc.; Amgen Inc.; Johnson & Johnson Services, Inc.; AstraZeneca plc; Bausch Health Companies Inc.; Bristol-Myers Squibb Company; Celgene Corporation; Novartis International AG; Eli Lilly and Company; Pfizer, Inc.; and UCB S.A. Strategic initiatives including mergers and acquisitions, collaborations, partnerships, and joint ventures make a cumbersome market dynamics among the key players.

Continuous product development and consecutive launches of breakthrough products are the major themes in this competitive landscape. As regulatory procedures become more stringent and competitive rivalry intensifies in this market, new products must have a significant clinical advantage over existing products, in terms of safety and efficacy or the end result. This has led to a large number of head-to-head trials between key commercial products, such as Humira and Remicade, and new products or late-stage pipeline candidates. These trials determine the superiority of performance through a comparative analysis of several parameters.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research has segmented the global psoriatic arthritis treatment market report on the basis of drug class, product type, route of administration, and region:

• Drug Class Outlook (Revenue, USD Million, 2014 - 2026)

  • NSAIDs

  • DMARD

  • Biologics

  • Others

• Product Type Outlook (Revenue, USD Million, 2014 - 2026)

  • Prescriptions

  • OTC

• Route of Administration Outlook (Revenue, USD Million, 2014 - 2026)

  • Topical

  • Oral

  • Injectable

• Regional Outlook (Revenue, USD Million, 2014 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

    • France

    • Italy

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE