LONDON--(BUSINESS WIRE)--The global psoriatic arthritis therapeutics market is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global psoriatic arthritis therapeutics market size is the dominance of biologics. Over the years, the market has witnessed a significant increase in the entry of biosimilars of major drugs, owing to the expiry of patents for biologics. However, the entry of biosimilars has not resulted in the value erosion of the market as these biosimilars are priced higher than the small molecule drugs approved in the market. Moreover, the high efficacy of biologics is leading to high demand for biologic drugs. Thus, biologics are dominating the market, which is expected to be a key factor for the growth of the market during the forecast period.
As per Technavio, the advent of regenerative therapy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global psoriatic arthritis therapeutics market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Psoriatic Arthritis Therapeutics Market: Advent of Regenerative Therapy
The lack of curative therapies for the treatment of psoriatic arthritis has encouraged various vendors and research organizations to conduct research on regenerative therapies such as stem cell therapy. The advances in research are expected to help in the identification and the cause of the indication, which can impact the growth of the psoriatic arthritis therapeutics market during the forecast period.
“Apart from the advent of regenerative therapy, other factors such as the emergence of genetic screening tests, and increasing strategic alliances will have a significant impact on the psoriatic arthritis therapeutics market growth during the forecast period,” says a senior analyst at Technavio.
Global Psoriatic Arthritis Therapeutics Market: Segmentation Analysis
This market research report segments the global psoriatic arthritis therapeutics market size by type (biologics, and small molecules), and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the psoriatic arthritis therapeutics market in 2018, followed by Europe, Asia, and ROW respectively. The psoriatic arthritis therapeutics market report identifies the strong dominance of biologics, availability of various patient-assistance programs, and the strong pipeline in the region as factors contributing to the dominance of North America during the forecast period.
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Five Forces Analysis
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