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.
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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.