The type of psoriatic arthritis treatment a person receives depends on the severity of their symptoms and will depend on the severity of the disease. Typically, the goal of treatment is remission, which means that the patient no longer experiences symptoms. Patients may need to change their medications periodically to maintain control or to avoid systemic effects. Early signs of severe disease include onset at a young age, multiple joints, or spinal involvement. The management of psoriatic arthritis requires good control of skin appearance. Physicians may refer patients to a dermatologist or rheumatologist to help them maintain a healthy skin tone.
The global psoriatic arthritis market is estimated to be valued at US$ 8,953.9 Mn in 2021 and is expected to exhibit a CAGR of 11.40% over the forecast period (2021-2028).
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Key Market Drivers:
The increasing incidence of psoriatic arthritis in the world is expected to drive the growth of the global psoriatic arthritis treatment market. For instance, according to Verywell Health, currently, there are around 37.5 million psoriatic arthritis cases in the world. In addition to medications, a person can also try heat or cold therapy to relieve pain. A doctor may recommend surgery if the damage is causing severe discomfort. Depending on the severity of the condition, the doctor may prescribe surgery as an option.
Ultimately, the treatment will depend on the severity of psoriatic arthritis. However, following a treatment plan is crucial in controlling the signs and symptoms of the condition. It can also prevent the disease from destroying the joints and preventing further damage. The increasing launch of new treatment options in the world by key manufacturers is estimated to propel the growth of the global psoriatic arthritis treatment market.
Covid-19 Impact Analysis:
During the COVID-19 pandemic, the increasing focus on the rapidly spreading COVID-19 cases all over the world led to the negligence of other health conditions, which also affected the growth of the global psoriatic arthritis treatment market. Moreover, postpone of several drug discoveries and research operations also affected the market growth.
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The size of the global psoriatic arthritis treatment market is assessed to increase at a CAGR of 11.40%, owing to the increasing prevalence of product launches by key market players in the world. For instance, in October 2018, the European Commission approved a label update to Novartis AG for its Cosentyx.
North America is expected to dominate the growth of the global psoriatic arthritis treatment market, owing to increasing cases of psoriatic arthritis in the region. For instance, according to the U.S. National Psoriasis Foundation, around 1 million individuals in the U.S. suffer from psoriatic arthritis.
The Asia Pacific is estimated to witness high growth in the global psoriatic arthritis treatment market, owing to the increasing prevalence of key market players in the region. Moreover, high investments in the healthcare sector are assessed to project market growth.
Global Psoriatic Arthritis Market, By Drug Class:
- Non-steroidal Anti-inflammatory Drugs (NSAIDS)
- Disease-modifying Antirheumatic Drugs (DMARDs)
Global Psoriatic Arthritis Market, By Product Type:
- Over The Counter
Global Psoriatic Arthritis Market, By Route of Administration:
Global Psoriatic Arthritis Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Major players operating in the global psoriatic arthritis treatment market include Celgene Corporation (Bristol-Myers Squibb), Sanofi S.A., Pfizer Inc., Johnson & Johnson, and AbbVie Inc.
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