Psoriatic Arthritis Treatment Market Rising in United States | Fortune Business Insights

The global psoriatic arthritis treatment market size is anticipated to touch USD 13.12 billion by the end of 2027 on account of the increasing prevalence of psoriatic arthritis. According to a published report by Fortune Business Insights titled, “Psoriatic Arthritis Treatment Market Size, Share & COVID-19 Impact Analysis, By Drugs Class (Non-steroidal Anti-inflammatory Drugs (NSAIDS), Non-biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs), Biologic Disease Modifying Anti-Rheumatic Drugs (DMARDs) and Others), By Route of Administration (Oral, Parenteral, and Topical), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and Regional Forecast, 2020-2027,” the value of this market was USD 6.35 billion in the year 2019. The forecast period is set between 2020 and 2027 and the market is expected to rise at a CAGR of 9.5%.

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North America

United States, Canada and Mexico

Europe

Germany, UK, France, Italy, Russia and Turkey etc.

Asia-Pacific

China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam etc.

South America

Brazil, Argentina, Columbia etc.

Middle East & Africa

Saudi Arabia, UAE, Egypt, Nigeria and South Africa

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Presence of Strong Drug Pipeline Candidates to Augment Growth

The increasing prevalence of chronic inflammatory skin conditions and other diseases such as psoriasis arthritis, are the key factors propelling the global psoriasis arthritis treatment market growth. In addition to this, increasing research activities associated with large molecules and the development of biosimilar drugs and biologics will also aid in expansion of the market. Furthermore, the increasing number of new product approvals by the Food and Drug Administration will also add impetus to the market for psoriatic arthritis treatment in the coming years.

On the flipside, the ongoig COVID-19 pandemic, and strict regulations imposed on drug regulations, and patent expiry of drugs are likely to pose a major hindrance to the growth of the market in the coming years. This, coupled with the high cost of biologic products for therapy and poor reimbursement scenario will also hamper the market growth in the foreseeable future. Nevertheless, the presence of strong drug pipeline candidates by leading manufacturers are likely to create lucrative growth opportunities for the market in the coming years.

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