Market Research Report
Psoriatic Arthritis Therapeutics Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||921254|
|Published||Content info||112 Pages
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|Psoriatic Arthritis Therapeutics Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: August 1, 2020||Content info: 112 Pages||
Psoriatic arthritis is a form of arthritis that affects some people who have psoriasis, which is a condition that develops red patches on the skin with silvery scales. Most people develop psoriasis first and are later diagnosed with psoriatic arthritis. However, the joint problems can sometimes begin before skin patches appear. This condition develops when the immune system begins to attack healthy cells and tissue. The abnormal immune response causes inflammation in the joints as well as overproduction of skin cells.
One of the major factors that can exacerbate the development of psoriatic arthritis in obesity. According to OECD 2017 data, nearly 37% of the population of the United States was classified as obese and the report projects the population to increase to 47% by 2030. Hence, as the prevalence of obesity increases, the risk of psoriatic arthritis is expected to increase as well. Other factors like unhealthy lifestyle with indulgence in alcohol and smoking can also be attributed as risk factors for the development of psoriatic arthritis. Moreover, the development of new therapeutic methods is also expected to drive the growth of this market.
Non-Steroidal Anti-Inflammatory Drugs (NSAID) are Expected to Hold a Large Share in the Market
NSAIDs are considered the first treatment option for psoriatic arthritis. For people diagnosed with psoriatic arthritis that show only mild symptoms of joint pain and swelling, NSAIDs are usually the first treatment option to consider. NSAIDs are also commonly used as an adjunct treatment in conjunction with biologics or disease-modifying antirheumatic drugs (DMAD) and to treat some severe cases.
However, NSAIDs are not advised for people with severe psoriasis because it can cause skin flare-ups. However, with advancements in research and technology, safer NSAIDs have been developed with lesser side-effects. This is expected to help the growth of NSAIDs in the market.
North America is Found Dominating the Market During the Forecast Period
North America is found leading the psoriatic arthritis therapeutics market due to increased awareness and growing prevalence of psoriatic arthritis. According to OECD, Mexico has one of the highest prevalence of Obesity in the world. As obesity is one of the risk factors of psoriatic arthritis, the high and increasing prevalence is also expected to increase the prevalence of psoriatic arthritis in the future. However, developed countries like the US and Canada have a structured healthcare system which has a fast adoption rate for newer drugs, therapies, and technologies. Hence, expenditure on psoriatic arthritis therapeutics is expected to increase with increasing prevalence in the future.
Asia Pacific market is estimated to grow at a faster growth rate during the forecast period, owing to factors such as the increasing prevalence of obesity, improving reimbursement policies, and growing healthcare expenditure.
Majority of the key player involved in research and manufacturing of psoriatic arthritis threrapy drugs are established in developed countries. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness. This has also helped the market growth.