Global Psoriatic Arthritis Therapeutics Market 2019-2023
Global Psoriatic Arthritis Therapeutics Market: About this market
Psoriatic arthritis is an autoimmune disorder that primarily affects psoriasis patients, with approximately 30% of the patient population at risk. Technavio’s psoriatic arthritis therapeutics market analysis considers sales from both biologics and small molecules. Our analysis also considers the sales of psoriatic arthritis therapeutics in Asia, Europe, North America, and ROW. In 2018, the biologics segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as strong efficacy of approved drugs, availability of patient assistance programs, strong patient pool, and increasing awareness campaigns will play a significant role in the biologics segment to maintain its market position. Also, our global psoriatic arthritis therapeutics market report also looks at factors such as the dominance of biologics, growing awareness of psoriatic arthritis, and strong prevalence. However, difficulty in diagnosis, high treatment costs, and idiopathic nature of the disease may hamper the growth of the psoriatic arthritis therapeutics industry over the forecast period.
Global Psoriatic Arthritis Therapeutics Market: Overview
Dominance of biologics
The global psoriatic arthritis therapeutics market is expected to benefit significantly from the strong dominance of biologics during the forecast period. In 2018, over 80% of the market revenue was generated from the sales of biologics. As most of the drugs in the market have lost their patents, the market has witnessed an increase in the entry of biosimilars of major drugs. The entry of biosimilars has not resulted in the value erosion of the market as these biosimilars, despite being priced on the lower end, are still priced higher than the small molecule drugs approved in the market. Moreover, the high efficacy of biologics is resulting in high demand for biologic drugs, which is restricting the growth of small-molecule drugs. The dominance of biologics will lead to the expansion of the global psoriatic arthritis therapeutics market at a CAGR of almost 9% during the forecast period.
The advent of regenerative therapy
The global psoriatic arthritis therapeutics market currently faces a challenge due to the lack of curative therapies for the indication. As psoriatic arthritis is an autoimmune disorder, vendors in the market face a challenge in identifying the pathogenesis of the indication, which is acting as a barrier for the development of a potential cure for the indication. Various vendors and research organizations are conducting research on regenerative therapies such as stem cell therapy for curing psoriatic arthritis. Currently, approximately 25 genetic variants that are responsible for developing psoriatic diseases have been found, including psoriatic arthritis. Though these therapies are still in the early stages and are not expected to receive marketing approval during the forecast period, advances in research are expected to help in the identification of the pathogenesis and the cause of the indication, which can result in the market growth in the coming years.
For the detailed list of factors that will drive the global psoriatic arthritis therapeutics market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global psoriatic arthritis therapeutics market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading psoriatic arthritis therapeutics manufacturers, that include AbbVie Inc., Celgene Corp., Johnson & Johnson Services Inc., Novartis AG, and Pfizer Inc.
Also, the psoriatic arthritis therapeutics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
AbbVie Inc., Celgene Corp., Johnson & Johnson Services Inc., Novartis AG, and Pfizer Inc.
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