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Psoriatic Arthritis Treatment Market Trends

Report ID: GMI9864
Published Date: Jun 2024
Report Format: PDF

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Psoriatic Arthritis Treatment Market Trends

Increased investments in research and development (R&D) have led to the discovery of innovative therapies and advanced treatment options. These efforts have also facilitated the advancement in biological agents and precision medicine approaches, addressing the diverse needs of patients with psoriatic arthritis is driving the market expansion.

For instance, in March 2024, Acelyrin, Inc. revealed promising outcomes from its global phase 2b/3 clinical trial of izokibep, a potential breakthrough in treating psoriatic arthritis. Izokibep, a small protein therapeutic targeting IL-17A presented remarkable potency, strong tissue penetration capabilities, and an extended half-life. Thus, availability of strong product pipeline and associated treatment for broader applications will spur the market growth.

Moreover, the growing aging population living with psoriasis, enhanced diagnostic technologies, government policies fostering healthcare and strategic expansions by major players further propel the market demand.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global psoriatic arthritis treatment industry was valued at USD 10.2 billion in 2023 and is anticipated to register 9.7% CAGR between 2024 and 2032 due to increasing prevalence of psoriatic arthritis and growing awareness and diagnosis.

The injectable segment in the market held 57.7% revenue share in 2023 due to precise dosing, direct bloodstream delivery, and established efficacy.

Asia Pacific psoriatic arthritis treatment market size is expected to record 10.2% CAGR between 2024 and 2032 due to expanding population, product approvals coupled with increasing awareness and diagnosis rates of psoriatic arthritis.

Abbvie Inc., Amgen Inc., Biogen, Bristol-Myers Squibb Company, Eli Lilly and Company, Fujifilm Kyowa Kirin Biologics Co., Ltd., Janssen Pharmaceutical Companies (Johnson and Johnson), Merck KGA, and Novartis AG, among others.