Ankylosing Spondylitis Treatment Market to Witness Impressive Growth on the back of Increased Research: Future Market Insights
A new market study by Future Market Insights (FMI) forecasted that the ankylosing spondylitis treatment market will expand at a healthy rate between 2020 and 2030.
The growth of the market is majorly attributed to the rising incidence of spondylitis among people across the world. According to a survey conducted by Arthritis Care & Research, nearly 20-50% of people suffering from ankylosing spondylitis exhibit spinal progression of certain levels in the last two years of follow-up.
On this premise, TNF inhibitor treatments and Non-steroid anti-inflammatory drugs (NSAIDs) have been the major therapies in treating ankylosing spondylitis and other types of inflammatory arthritis conditions. Furthermore, recent studies by findings at the Universita Degli Studi del Molise (Italy) revealed that physiotherapy is highly beneficial in treating ankylosing spondylitis without the risk of medicinal side-effects.
“Market players are leveraging the proliferating demand for nonsteroidal anti-inflammatory drugs through the oral mode of administration and are hence focusing on launching novel products. This is expected to significantly complement the growth of the market during the forecast period,” opines FMI analyst.
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Ankylosing Spondylitis Treatment Market – Key Takeaways
- Inclusion of nano curcumin to significantly aid the treatment methodologies of ankylosing spondylitis, thus bestowing lucrative revenue opportunities.
- Nonsteroidal anti-inflammatory drugs are expected to remain the most sought-out drugs owing to a high preference among medical professionals in the treatment of ankylosing spondylitis.
- Oral route of administration remains the most preferred mode on the back of simplicity associated with consumption.
- Among the consumer demographic, the adult segment is forecasted to account owing to the higher prevalence of ankylosing spondylitis among adults as compared to children.
Ankylosing Spondylitis Treatment Market – Key Trends
- Increased spending in the healthcare industry on extensive research pertaining to ankylosing spondylitis is encouraging market players to innovate novel treatment methods.
- The inclusion of physical rehabilitation and therapy in modern-day treatments coupled with growing preference for physiotherapy is bestowing lucrative revenue opportunities to market players.
Ankylosing Spondylitis Treatment Market – Regional Analysis
- North America and Europe are projected to cumulatively account for more than 50% of global market value, with the majority of the revenue share concentrated in the U.S. and EU4
- The dominance of North America is attributed to the strong presence of well-established healthcare infrastructure, rising prevalence of ankylosing spondylitis, and innovations in the pharmaceutical sector in the U.S.
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Ankylosing Spondylitis Treatment Market – Competitive Landscape
Some of the major players operating the market include, but not limited to, Wyeth, Mitsubishi Tanabe, Schering-Plough, Takeda, Amgen, Centocor, Abbott, Eisai, and Pfizer. Market players are focusing on procuring approvals of drugs from regulatory bodies to widen their distribution. On these lines:
- In Feb 2020, Taltz (ixekizumab) received approval from Health Canada for treating adults with ankylosing spondylitis who weren’t responsive to conventional therapies.
- In Dec 2019, Avsola (infliximab-axxq) by Amgen obtained approval from the US FDA to be used in the treatment of ankylosing spondylitis.
Ankylosing Spondylitis Treatment Market – Taxonomy
- Nonsteroidal Anti-inflammatory Drugs
- Anti-Inflammatory Drugs
- Immunosuppressive Drugs
- TNF Blockers
- JAK Inhibitors
Route of administration
- Rest of Latin America
- Rest of Europe
- Sri Lanka
- South Korea
- New Zealand
Middle East & Africa
- South Africa
- Rest of MEA
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Get Valuable Insights into Ankylosing Spondylitis Treatment Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global ankylosing spondylitis treatment market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the ankylosing spondylitis treatment market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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