The global psoriatic arthritis treatment market is likely to gain momentum from a rise in the prevalence of psoriatic arthritis across the world. According to a published report by Fortune Business Insight, titled, “Psoriatic Arthritis Treatment Market: Global Market Analysis, Insights, and Forecast, 2018-2026,” the global market was valued at US$ 5,793.3 Mn in 2018. The market is anticipated to reach US$ 12,175.2 Mn by 2026, exhibiting a CAGR of 8.5% between 2018-2026.
Moreover, the report suggests that the lifestyles of people are slowly becoming stressful, leading to the overstimulation of immune system. This in turn, is resulting in an increasing incidence of psoriatic arthritis in developing as well as developed countries. All these factors are expected to contribute to the psoriatic arthritis treatment market growth during the forecast period.
“Increasing Adoption of Biological Therapies to Favor Growth of Biological Disease Modifying Anti-Rheumatic Drugs Segment”
The report classifies the psoriatic arthritis treatment market on the bases of drug class, route of administration, distribution channel, and geography. By drug class, the global market is grouped into Non-Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs), Non-steroidal Anti-inflammatory Drugs (NSAIDS), Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs), and others.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• AbbVie Inc.
• Novartis AG
• Johnson & Johnson Services, Inc.
• Pfizer Inc.,
• LEO Pharma A/S
• Merck & Co., Inc.
• Amgen Inc.
• Eli Lilly and Company
• CELGENE CORPORATION
• UCB S.A.
• Sun Pharmaceutical Industries Ltd.
Major Market Players, such as AbbVie Inc. and Pfizer Inc. Focus on Achieving Drug Approvals to Gain Competitive Edge AbbVie Inc., a publicly traded biopharmaceutical company, based in the U.S., announced in March 2019 that the Japanese Ministry of Health, Labor and Welfare (MHLW) approved its product called SKYRIZI (risankizumab).
SKYRIZI is an interleukin-23 (IL-23) inhibitor that is used for the treatment of erythrodermic psoriasis, plaque psoriasis, psoriatic arthritis, and generalized pustular psoriasis in those adults who have difficulties in having an inadequate response to conventional therapies. SKYRIZI also causes improvements in the signs and symptoms of immune-mediated and chronic diseases.
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Novartis AG, a multinational pharmaceutical company headquartered in Switzerland, announced that the company has received the approval of European Commission (EC) for Cosentyx label update in Europe in October 2018. Cosentyx is the only fully-human treatment that inhibits interleukin-17A (IL-17A) in psoriatic arthritis. The new update offers a dosing flexibility of up to 300 mg that will aid clinicians in choosing the best dose for their patients.
Pfizer Inc., a multinational pharmaceutical corporation, based in the U.S., announced that the USFDA approved Infliximab in December 2017. Infliximab is a chimeric human-murine monoclonal antibody (mAb)that fights against tumor necrosis factor. It is a biosimilar to Remicade. It helps in treating Crohn’s disease, plaque psoriasis, ankylosing spondylitis, rheumatoid arthritis, psoriatic arthritis, and ulcerative colitis.
Earlier, in December 2017, Eli Lilly and Company, a pharmaceutical company headquartered in Indiana, announced that the USFDA approved Taltz (ixekizumab) injection 80 mg/ml. It will be used for the treatment of adults with active psoriatic arthritis (PsA).
Psoriatic Arthritis Treatment Market Table of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Prevalence of Psoriatic Arthritis for Key Countries/Region
4.2. Recent Industry Developments Such as Partnerships, Mergers & Acquisitions, New Product Launches Etc.
4.3. Pipeline Analysis for Key Companies
4.4. Regulatory Framework by Key Countries
4.5. Global Reimbursement Scenario
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