Global Psoriatic Arthritis Pharmacotherapy Market: Overview
Psoriatic arthritis is a form of chronic inflammatory arthritis which affects the toes and fingers of the patient, gradually moving to skin and nails. While the clinical symptoms vary, the most commonly recognized symptoms of psoriatic arthritis are enthesitis, axial disease, peripheral arthritis, and dactylitis.
The global market for psoriasis arthritis pharmacotherapy can be segmented on the basis of region, method, and drug. By method of diagnosis, the global market for psoriatic arthritis pharmacotherapy can be segmented into laboratory tests and imaging. Based on drug type, the market can be categorized into NSAIDs, disease modifying anti-rheumatic drugs (DMARDs), TNF-α inhibitors, and immunosuppressants.
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The research report on the global market for psoriatic arthritis pharmacotherapy analyzes the numerous factors limiting and promoting the growth of the market. The major trends observed in the market have been discussed, alongside the recent technological breakthroughs marking the progress of the market. The prominent market players transacting in the global market for psoriatic arthritis pharmacotherapy have been evaluated under the chapter on competitive landscape.
Global Psoriatic Arthritis Pharmacotherapy Market: Drivers and Restraints
The rising number of elderly people across the globe has been one of the prime market catalysts. As aging increases the risk of psoriatic arthritis, the global demand for psoriatic arthritis pharmacotherapy is augmenting. The market will also benefit significantly from the introduction of blockbuster drugs including Vicodin and Simponi, apart from several other medications that are presently in the pipeline.
On the flip side, the global market for psoriatic arthritis pharmacotherapy might face challenges owing to the high costs of the newly launched biologics. Along with this market restraint, low level of awareness as to the benefits of psoriatic arthritis pharmacotherapy has also been inhibiting growth.
A study conducted by the Centers for Disease Control and Prevention (CDC), a key national public health organization in the U.S., reveals that the larger portion of patients suffering from psoriatic arthritis did not take the symptoms seriously, ignoring the initial signs such as skin rashes and reddening. Only 10-12% of the patients in the U.S. opted for a diagnosis. In order to combat the prevailing lack of awareness several entities such as Celgene and National Psoriasis Foundation have been striving to create awareness among the people.
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Global Psoriatic Arthritis Pharmacotherapy Market: Regional Outlook
By geography, the global market for psoriatic arthritis pharmacotherapy can be segmented into Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. Of these, North America has been ahead of the curve. The high amount of investment in healthcare has made it possible for the countries in these regions to offer advanced medical facilities. The growing geriatric population and the presence of leading pharmaceutical companies in this region have been some other prominent growth drivers of the global psoriatic arthritis pharmacotherapy market.
Europe is expected to emerge as the second leading market, followed by Asia Pacific. As more number of government initiatives aimed at providing advanced medical facilities are sprouting in emerging markets of Asia Pacific, the demand for psoriatic arthritis pharmacotherapy is slated to multiply at a rapid pace. Growing patient base, increasing consciousness among patients and healthcare providers, and rapid espousal of advanced medical technologies are boosting the market in this region. Latin America also promises significant growth opportunities.
Companies mentioned in the research report
F. Hoffmann-La Roche Ltd, Abbott Laboratories, Merck & Co, Inc., Pfizer, Inc., Novartis International AG, Johnson & Johnson, and Amgen, Inc. are some major firms operating in the global market for psoriatic arthritis pharmacotherapy.
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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