Ankylosing Spondylitis Therapeutics Market to Grow with a CAGR of 7.51% through 2028
Increasing prevalence of Ankylosing Spondylitis
Therapeutics and increasing patient advocacy and awareness are factors driving
the Global Ankylosing Spondylitis Therapeutics Market in the forecast period 2024-2028.
According to TechSci Research report, “Ankylosing
Spondylitis Therapeutics Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Ankylosing
Spondylitis Therapeutics Market stood at USD 4.41 billion in 2022 and is
anticipated to grow with a CAGR of 7.51% in the forecast period, 2024-2028.
Ankylosing
spondylitis (AS) is a chronic inflammatory condition that primarily affects the
spine, leading to pain, stiffness, and reduced mobility. This autoimmune
disease affects millions of people worldwide, and the global ankylosing
spondylitis market is continually evolving to meet the growing demand for
effective treatments and management solutions. Several factors are driving the
expansion of this market, from advancements in medical research to changing
demographics and increased awareness of the disease.
One of the primary drivers of the global AS market is
the increasing prevalence of ankylosing spondylitis. AS is not a rare
condition, and its prevalence is on the rise. According to estimates, there are
more than 2 million people living with AS in the United States alone, and
similar trends are observed worldwide. This surge in the number of AS patients
is propelling the demand for better treatment options, creating opportunities
for pharmaceutical companies and healthcare providers.
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Recent years have seen significant advancements in the
understanding of ankylosing spondylitis at the molecular and genetic levels.
Researchers have made substantial progress in unraveling the disease's complex
pathophysiology, identifying key biomarkers, and exploring potential
therapeutic targets. These scientific breakthroughs are fostering the
development of innovative drugs and treatment approaches. As a result, the AS
market is witnessing a stream of new, targeted therapies designed to manage the
condition more effectively.
Biologic drugs have transformed the
landscape of AS treatment. Biologics such as TNF-alpha inhibitors (e.g.,
Adalimumab, Infliximab) and IL-17 inhibitors (e.g., Secukinumab) have proven
highly effective in controlling inflammation and improving patients' quality of
life. Their success has fueled research and development efforts, leading to the
introduction of new biologics with improved efficacy and safety profiles. The
increasing availability of these biologics is a significant driver of the AS
market's growth.
Ankylosing spondylitis typically
manifests in young adults, but the disease is often lifelong. As the global
population ages, a substantial number of individuals are living longer with AS.
This demographic shift is resulting in a larger patient pool seeking continuous
medical care and treatment, which in turn drives market growth. Healthcare
providers and pharmaceutical companies are focusing on addressing the unique
needs of older AS patients, further stimulating market expansion.
The growing awareness of ankylosing
spondylitis, fueled by patient advocacy groups and awareness campaigns, is
another driving force behind the global AS market. These initiatives are
helping to reduce the diagnostic delay often associated with AS, leading to
earlier intervention and better disease management. As more individuals are
diagnosed with AS and seek treatment, the market for AS-related medications,
devices, and services continues to expand.
The Global Ankylosing Spondylitis Therapeutics Market
is segmented into Drug, End Use and company.
Based on End Use, the hospital segment has
emerged as the predominant market leader. Managing AS may require a multi-disciplinary approach
involving rheumatologists, physical therapists, and other healthcare
professionals. Hospitals are equipped to provide this comprehensive care,
including access to advanced diagnostic tools, medication management, and
physical therapy. AS is a progressive disease, and regular monitoring is
essential to track its progression and adjust treatment plans accordingly.
Hospitals offer the necessary infrastructure for conducting regular tests and
assessments to monitor patients' health and make informed decisions about their
treatment.
Based on region, North America segment is expected to
grow during the forecast period. The United States, in particular, is known for its
high healthcare spending. This significant investment in healthcare can drive
the development and adoption of new AS treatments and therapies, making it a
dominant player in the market. The prevalence of AS in North America may also
contribute to its dominance in the market. A larger patient population often
attracts more attention from pharmaceutical companies and researchers.
The Asia Pacific region is experiencing rapid market
growth. The Asia Pacific has active patient advocacy and support groups that
raise awareness about AS, support research efforts, and provide resources for
patients. These organizations can influence treatment options and market
dynamics.
Major companies operating in Global Ankylosing
Spondylitis Therapeutics Market are:
- AbbVie,
Inc.
- Amgen,
Inc.
- Pfizer,
Inc.
- Novartis
AG
- Eli
Lilly and Company
- UCB,
Inc.
- Johnson
& Johnson Services, Inc.
- Merck
& Co., Inc.
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“The global ankylosing spondylitis market is poised
for significant growth, driven by factors such as increasing prevalence,
advances in medical research, the biologics revolution, an aging population,
patient advocacy and awareness, and favorable reimbursement policies. These
drivers are creating opportunities for pharmaceutical companies, healthcare
providers, and other stakeholders to develop and deliver innovative treatments
and solutions for AS patients. As research continues and new therapies emerge,
the outlook for the global AS market remains promising in its efforts to
improve the lives of those affected by this chronic autoimmune condition.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Ankylosing Spondylitis Therapeutics Market By By
Drug (Cosentyx, Humira, Simponi, Remicade, Enbrel,
Cimzia), By End Use (Hospitals, Clinics,
Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Ankylosing Spondylitis Therapeutics
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Ankylosing Spondylitis
Therapeutics Market.
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