Psoriatic Arthritis Market Report and Forecast 2024-2032

Psoriatic Arthritis Market Outlook

• The increasing prevalence of psoriatic arthritis and psoriasis is a primary driver of the market, propelling the demand for novel therapies and advanced treatment options.
• The rise in drug approvals by regulatory agencies and increased investment in research and development (R&D) by pharmaceutical companies are expected to elevate the market value in the forecast period.
• The rising advancements in oral small molecule therapies and the increase in the use of biologics are significant market trends.

Psoriatic Arthritis Market Overview

Psoriatic arthritis (or PsA) refers to a chronic condition that is linked to joint pain, swelling, and stiffness along the bones that form the joints. It affects the individuals with the skin condition psoriasis. This form of arthritis is usually treated with the help of drugs, biologics, steroid injections, and joint replacement surgery. The rising prevalence of psoriatic arthritis and psoriasis is a primary driver of the market. The growing demand for biologic therapies such as TNF inhibitors, IL-17 inhibitors, and IL-23 inhibitors is expected to aid the market growth. Moreover, increased investment in research and development (R&D) by pharmaceutical companies and faster regulatory approvals for new psoriatic arthritis treatments are expected to shape the market dynamics.

Psoriatic Arthritis Market Growth Drivers

Increasing Prevalence of Psoriatic Arthritis to Drive Market Growth

Recent data reveals that psoriatic arthritis occurs in around 20% of people affected by psoriasis, causing significant morbidity and reduced quality of life. The worldwide prevalence of psoriatic arthritis is estimated to be 112 per every 100,000 adults. Based on the population-based studies, the continent-specific estimates were reported to be 207 in Europe, 64 in North America, and 37 in Asia per 100,000 adults. The rising prevalence of psoriatic arthritis is a significant driver of the market, propelling the demand for novel therapies and advanced treatment options.

Psoriatic Arthritis Market Trends

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Rise in Regulatory Approvals to Affect the Market Landscape Significantly

In October 2023, Abatacept (Orencia) developed by Bristol-Myers Squibb was approved by the US Food and Drug Administration (FDA) for the treatment of psoriatic arthritis in pediatric patients aged 2 years and older. The approval of expanding Orencia’s indication for juvenile psoriatic arthritis was based on controlled studies of the drug and safety data from clinical studies in juvenile psoriatic arthritis patients (aged 2 to 17 years), among others. The rise in such drug approvals by the regulatory agencies is poised to fuel the market growth.

Shift Towards Biologics and Biosimilars to Augment Psoriatic Arthritis Market Demand

The market is experiencing a considerable increase in the use of biologics such as TNF inhibitors, IL-17 inhibitors, and IL-23 inhibitors, owing to their efficacy in managing symptoms of psoriatic arthritis and slowing disease progression. In addition, the rising introduction of biosimilars which are equivalent to their reference products but are usually marketed at a lower cost are anticipated to bolster the market growth in the forecast period.

Advancements in Oral Small Molecule Therapies to Elevate the Psoriatic Arthritis Market Value

The rising advancements in oral small molecule therapies, such as Janus kinase (JAK) inhibitors and phosphodiesterase-4 (PDE4) inhibitors, are a major market trend. These oral drugs offer convenient administration in comparison to injectable biologics and are generating significant market demand among patients looking for less invasive treatment options for managing psoriatic arthritis.

Focus on Comorbidity Management to Impact Psoriatic Arthritis Market Dynamics

The market is witnessing a growing trend towards a more comprehensive approach to managing psoriatic arthritis by taking into account the various comorbidities (including cardiovascular diseases, metabolic syndrome, and mental health disorders) associated with the disease. This approach ensures that besides the primary symptoms of joint inflammation, related health conditions are also addressed, thereby improving overall patient outcomes.

Psoriatic Arthritis Market Segmentation

Market Breakup by Drug Class

• NSAIDs 
• Non-Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs) 
• Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs) 
• Others 

Market Breakup by Form

• Oral 
• Parenteral 
• Topical 
• Others 

Market Breakup by Distribution Channel

• Hospital Pharmacies 
• Independent Pharmacies 
• Online Pharmacies 
• Others  

Market Breakup by Region

• United States 
• EU-4 and the United Kingdom 
  • Germany 
  • France 
  • Italy 
  • Spain 
  • United Kingdom 
• India 
• Japan 

Psoriatic Arthritis Market Share

Market Segmentation Based on Drug Class is Expected to Witness Substantial Growth

Based on the drug class, the market is segmented into NSAIDs, non-biologic disease modifying anti-rheumatic drugs (DMARDs), biologic disease modifying anti-rheumatic drugs (DMARDs), and others. Non-steroidal anti-inflammatory drugs (NSAIDs) are usually prescribed as a first-line treatment for mild to moderate psoriatic arthritis. They are effective for short-term use in managing acute symptoms as long-term use is often associated with potential side effects. On the other hand, non-biologic DMARDs help slow disease progression and prevent joint damage. These drugs work by interfering with various pathways involved in inflammation and immune response.

Psoriatic Arthritis Market Analysis by Region

The market segmentation by region includes the United States, EU-4 (Germany, France, Italy, Spain), and the United Kingdom, Japan, and India. The United States dominates the market share, owing to the high prevalence of psoriasis and the presence of a well-developed healthcare system that offers comprehensive insurance coverage for specialty medications such as biologics and advanced therapies. The robust clinical trial activity and significant research and development (R&D) investments further support the market growth in the region. Moreover, the rising introduction of biologics and targeted small molecules is expected to fuel the market demand in the country.

Leading Players in the Psoriatic Arthritis Market

The key features of the market report comprise patent analysis, grants analysis, clinical trial analysis, funding and investment analysis, and strategic initiatives by the leading key players. The major companies in the market are as follows:

Pfizer Inc.

Global pharmaceutical leader Pfizer is one of the key players in the market with a focus on developing innovative therapies across various therapeutic areas. Pfizer's oral JAK inhibitor XELJANZ/XELJANZ XR is used for the treatment of moderate to severe rheumatoid arthritis and active psoriatic arthritis in adults. The company is leveraging its strong global presence and extensive distribution network to reinforce its market position.

Abbott

This American multinational medical devices and healthcare company has a prominent presence in the market. Humira (adalimumab) is the first fully human recombinant IgG1 monoclonal antibody developed by Abbott and it is widely used for treating psoriatic arthritis. The company is focused on expanding its portfolio with newer biologics and small molecules for the management of psoriatic arthritis to reduce reliance on Humira.

GSK plc

Pharmaceutical industry company GSK plc, headquartered in Brentford, United Kingdom, is a major market player with a robust portfolio of innovative treatments for autoimmune diseases including psoriatic arthritis. The company invests significantly in R&D to develop novel therapies for inflammatory diseases and establishes collaborations with biotech firms and research institutions to advance its pipeline.

Novartis AG 

Novartis AG, based in Basel, Switzerland, is an innovative medicines company offering innovative biologics and targeted therapies. The company's Cosentyx®(secukinumab) is indicated for the treatment of psoriatic arthritis. The medication is the first and only fully human biologic with the ability to directly inhibit interleukin-17A which is responsible for the inflammation in the disease.

Other key players in the market include Purdue Pharma LP, Sun Pharmaceutical Industries Limited, Eli Lilly and Company, Intas Pharma, Johnson & Johnson Services Inc., and Sanofi.

Key Questions Answered in the Psoriatic Arthritis Market Report

• What was the psoriatic arthritis market value in 2023?
• What is the psoriatic arthritis market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is market segmentation based on the drug class?
• What is the market breakup based on form?
• What are the major distribution channels in the market?
• What are the major factors aiding the psoriatic arthritis market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• How do the prevalence and incidence of psoriatic arthritis affect the market landscape?
• What are the major psoriatic arthritis market trends?
• How does the advancement in treatment options impact the market size?
• Which drug class will dominate the market share? 
• Which form is expected to have a high market value in the coming years?
• Which distribution channel is projected to contribute to the highest market growth?
• Who are the key players involved in the psoriatic arthritis market?
• What is the patent landscape of the market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers and acquisitions among the key market players shaping the market dynamics?