Global Ankylosing Spondylitis (AS) Market to Witness Robust Growth...

Global Ankylosing Spondylitis (AS) Market to Witness Robust Growth Driven by Increasing Prevalence and Demand for Effective Treatments

Posted 2023-07-25 06:20:38

The global market for Ankylosing Spondylitis (AS) had a value of USD 4.2 billion in 2021, and it is projected to grow at a compound annual growth rate (CAGR) of 5.8% during the forecast period. The primary factors driving the growth of market revenue include the increasing prevalence of AS, growing awareness about the disease, and the rising demand for effective treatment options.

Ankylosing Spondylitis is a form of arthritis that primarily affects the spine, leading to inflammation and pain. It typically develops in early adulthood and is more prevalent in men than women. Although the exact cause of AS remains unknown, it is believed to result from a combination of genetic and environmental factors.

According to the National Institutes of Health (NIH), AS affects approximately 0.5% to 1.5% of the global population. The increasing prevalence of other inflammatory conditions like psoriasis and inflammatory bowel disease, which are closely associated with AS, also contributes to the growth of market revenue.

The availability of advanced treatment options, particularly biologics, is expected to drive market growth in the coming years. Biologics have demonstrated high efficacy in treating AS by targeting specific proteins involved in the inflammatory process. These drugs effectively manage symptoms and slow down disease progression. Furthermore, the growing number of clinical trials and approvals for new biologic drugs will further propel market revenue growth.

Additionally, the rise in healthcare expenditure, government initiatives to improve healthcare infrastructure, and increasing investments in research and development activities are anticipated to support market growth. Overall, the global AS market is poised for significant expansion due to the increasing burden of the disease, advancements in treatment options, and a growing emphasis on improving patient outcomes.

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Segments Covered in the Report

The Ankylosing Spondylitis (AS) market can be segmented based on type, treatment, end-use, and region. In terms of type outlook, the market includes two main segments: Axial Spondyloarthritis and Non-Radiographic Axial Spondyloarthritis. Axial Spondyloarthritis refers to the inflammation of the spine, while Non-Radiographic Axial Spondyloarthritis represents cases without visible changes in X-ray images.

The treatment outlook of the AS market encompasses various approaches, including Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Biologics, and others. NSAIDs are commonly prescribed to manage pain and reduce inflammation in AS patients. Biologics, on the other hand, target specific proteins involved in the inflammatory process and have shown efficacy in treating AS.

In terms of end-use outlook, the AS market caters to hospitals, clinics, and other healthcare facilities. These settings play a crucial role in the diagnosis, treatment, and management of AS, providing specialized care to patients.

The regional scope of the AS market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions exhibit varying prevalence rates and healthcare infrastructure, which influence the demand for AS treatments and the overall market landscape.

The segmentation of the AS market based on type, treatment, end-use, and region allows for a comprehensive understanding of the market dynamics. It enables stakeholders to analyze specific segments and tailor their strategies accordingly to capitalize on the growth opportunities in different regions and target patient populations.

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Strategic development:

Amgen Inc. made a significant strategic move on 17 December 2020 by receiving FDA approval for its biosimilar called Riabni (rituximab-arrx). This biosimilar is specifically indicated for the treatment of rheumatoid arthritis, granulomatosis with polyangiitis, and microscopic polyangiitis, which are frequently associated with Ankylosing Spondylitis (AS). This strategic development allows Amgen Inc. to expand its product portfolio and provide effective treatment options for patients suffering from these conditions that commonly coexist with AS.

Competitive Landscape:

The competitive landscape of the Ankylosing Spondylitis (AS) market features several prominent players aiming to address the growing demand for effective treatments. AbbVie Inc., Pfizer Inc., Novartis International AG, Amgen Inc., Janssen Biotech, Inc., Boehringer Ingelheim International GmbH, Eli Lilly and Company, UCB S.A., Merck & Co., Inc., and Bristol-Myers Squibb Company are some of the key companies competing in this space.

These companies actively participate in research and development activities to develop innovative therapies and expand their product portfolios for AS treatment. They focus on offering a range of treatment options, including nonsteroidal anti-inflammatory drugs (NSAIDs), biologics, and other novel therapies, to cater to the diverse needs of patients.

AbbVie Inc., for example, is known for its leading biologic drug, Humira (adalimumab), which has demonstrated efficacy in managing AS symptoms. Pfizer Inc. and Novartis International AG also have a strong presence in the AS market, with their respective biologic drugs, Xeljanz (tofacitinib) and Cosentyx (secukinumab), offering therapeutic options for patients.

Amgen Inc. has made significant strides in the AS market with its biosimilar, Riabni (rituximab-arrx), receiving FDA approval for the treatment of rheumatoid arthritis and related conditions. Janssen Biotech, Inc., a subsidiary of Johnson & Johnson, is known for its biologic drug, Simponi (golimumab), which is approved for the treatment of AS.

These companies engage in strategic partnerships, acquisitions, and collaborations to strengthen their market position and expand their geographic presence. They also invest in marketing and promotional activities to raise awareness about AS and educate healthcare professionals and patients about available treatment options.

Overall, the competitive landscape of the AS market is dynamic, with key players striving to offer innovative therapies and improve patient outcomes. The continuous efforts of these companies contribute to the development and availability of effective treatments, providing hope for individuals living with AS.

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In conclusion, the global Ankylosing Spondylitis (AS) Market is highly competitive, with a few major players dominating the market. These companies are actively involved in developing new technologies and products, investing in research and development, and engaging in strategic partnerships and collaborations to maintain their market share and drive revenue growth.

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