Title High Prevalence of the Condition and Huge Unmet Medical Needs to Favour Growth of the Psoriatic Arthritis Therapeutics Market, TMR
- The global psoriatic arthritis therapeutics market is increasingly growing as a result of new product creation and commercialization, as well as a rise in psoriatic arthritis incidence rates around the world
- Comprehensive research is foreseen to drive the psoriatic arthritis therapeutics market, which seeks to provide therapies and/or alleviate the condition's symptoms
ALBANY, N.Y., March 2, 2021 /PRNewswire/ -- Psoriatic arthritis refers to a form of arthritis that attacks people affected with psoriasis, an immune mediated skin condition. It is a kind of inflammatory arthritis. Swelling, stiffness and pain in the joints are some of the symptoms of this skin disease. Even presence of mild condition of this skin disease can lead to a substantial degree of arthritis. Increasing incidences of the condition is prophesized to bolster growth of the global psoriatic arthritis therapeutics market in near future.
Treatment of psoriatic arthritis might comprise joint replacement surgery, steroid injections, and medicines for lessening inflammation. The global psoriatic arthritis therapeutics market is likely to be mainly driven by the rise in the utilization of biologics for treating psoriatic arthritis, from moderate to serious conditions.
There is an important paradigm shift regarding the treatment of psoriatic arthritis. Such a shift is mainly driven by the emergence of biosimilars and targeted action of biologics. However, the demand from consumers for the development of reasonably priced medication and effective and safe profiles is expected to leave a positive impact on the global psoriatic arthritis therapeutics market.
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In 2017, the global market for psoriatic arthritis therapeutics was worth around US$ 6,011.7 million. The market is prophesized to rise at double-digit growth rate of 11.4 % CAGR over the forecast timeline, from 2018 to 2026. The global demand is expected to be driven by new product approvals, high unmet medical needs, and high incidences of psoriatic arthritis worldwide in the coming years.