Major players in the psoriatic arthritis treatment market are AbbVie, Amgen, Johnson & Johnson, Bristol-Myers Squibb Company, Celgene Corporation, Novartis, Eli Lilly And Company, Pfizer, UCB Biosciences Inc, and Hoffmann La Roche Ltd.
New York, Sept. 24, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Psoriatic Arthritis Treatment Global Market Report 2021: COVID-19 Growth And Change To 2030" - https://www.reportlinker.com/p06151685/?utm_source=GNW
The global psoriatic arthritis treatment market is expected to grow from $7.26 billion in 2020 to $7.89 billion in 2021 at a compound annual growth rate (CAGR) of 8.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.34 billion in 2025 at a CAGR of 9%.
The psoriatic arthritis treatment market consists of the sale of psoriatic arthritis drugs used for the treatment of psoriatic arthritis by entities producing drugs for psoriatic arthritis. Psoriasis arthritis is a chronic inflammatory joint disease that is associated with psoriasis, whose symptoms vary from person to person.
The psoriatic arthritis treatment market covered in this report is segmented by drug class into nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying anti-rheumatic drugs (DMARDS), biologics, others. It is also segmented by route of administration into oral, parenteral, topical and by distribution channel into hospital pharmacies, retail pharmacies, online pharmacies.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The development of novel drugs such as Janus kinase (JAK) inhibitors for treating psoriatic arthritis is shaping the market.Janus kinase (JAK) inhibitors are orally administered small molecules emerging as a novel treatment for psoriatic arthritis patients.
There are three JAK inhibitors approved for the treatment of autoimmune diseases – tofacitinib, baricitinib, and upadacitinib.Among them, Xeljanz (tofacitinib) and Xeljanz (tofacitinib) XR are the first Janus kinase (JAK) inhibitors that have been approved by the Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
They are used to treat adult patients with active psoriatic arthritis (PsA), who have had an inadequate response or intolerance to methotrexate or other disease-modifying antirheumatic drugs (DMARDs). In June 2020, AbbVie, a leading US-based pharmaceutical company has announced that it has applied for the approval of upadacitinib (RINVOQ), a JAK inhibitor with the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
In 2019, Amgen Inc., an American biopharmaceutical company headquartered in Thousand Oaks, California, acquired Celgene’s Otezla for $13.4 billion. Otezla supports Amgen’s mission to bring innovative medicines to patients and expand its product portfolio. Amgen also gets worldwide rights with Otezla’s acquisition. Otezla (apremilast) is indicated for the treatment of patients with moderate to severe plaque psoriasis and active psoriatic arthritis. Celgene Corporation is a US-based biopharmaceutical company, acquired by Bristol-Myers Squibb Company, which develops and markets drugs used in the treatment of cancer and anti-inflammatory diseases.
The rise in the prevalence of psoriasis & psoriatic arthritis disease boosted the growth of the psoriatic arthritis treatment market.Psoriasis (Pso) and psoriatic arthritis (PsA) are inflammatory disorders that can severely impair health and quality of life.
Psoriasis is associated with inflammatory arthritis, known as psoriatic arthritis (PsA), with an incidence of 30% in psoriatic patients.According to the national psoriasis foundation, more than 8 million Americans have psoriasis.
According to the National Psoriasis Foundation, in the USA, about 30% of people with psoriasis also develop psoriatic arthritis. Thus, an increase in the prevalence of psoriasis & psoriatic arthritis disease drives market growth.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06151685/?utm_source=GNW
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