Ankylosing Spondylitis Treatment Market: Cultivating Relief, Aiming for US$ 5.1409 Billion by 2032
The Ankylosing Spondylitis Treatment Market is expected to reach US$ 5.1409 billion by 2032. The market for treating ankylosing spondylitis is expected to grow at a CAGR of 4.6% through 2032. The market for ankylosing spondylitis treatment is expected to reach US$ 8.06 billion by 2022. North America is expected to dominate the market for treating ankylosing spondylitis.
The global ankylosing spondylitis treatment market will continue to witness steady growth, driven by a slew of myriad, yet interconnected factors. A new report by ESOMAR-certified market research firm, Future Market Insights, offers incisive insights on key factors that will influence growth through 2030.
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According to FMI’s report, the options for treatment include disease-modifying anti-rheumatic drugs (methotrexate), nonsteroidal anti-inflammatory drugs (naproxen, ibuprofen, celecoxib, meloxicam, and diclofenac), biologics (certolizumab pegol, secukinumab, infliximab), and biosimilars.
Key Takeaways from Ankylosing Spondylitis Treatment Market Study:
- Nonsteroidal anti-inflammatory drugs lead the market as they are looked upon as the first line of treatment for ankylosing spondylitis
- Oral route of administration holds the largest market share due to simplicity of consumption.
- By age group, “adults” contribute to majority of revenue generation as ankylosing spondylitis usually gets initiated in adulthood.
- North America, led by the US, holds the highest market share due to well-established healthcare infrastructure, high incidences of ankylosing spondylitis, and innovations in pharmaceutical industry.
Ankylosing Spondylitis Treatment Market Landscape:
The major players in the ankylosing spondylitis market
- Mitsubishi Tanabe,
- Novartis AG,
As per the Oxford University Press, around 1% of the US population, 1.3-1.56 Mn European population, and 4.63-4.98 Mn population in the Asia Pacific are affected by ankylosing spondylitis. Also, the market is witnessing massive investment on the part of research to table new formulations.
Inorganic growth parameters are also contributing a great deal to the growth of ankylosing spondylitis treatment market. For instance – Novartis AG, in Jan 2019, entered into a collaboration with TrialSpark with an objective of increasing patients’ access to the clinical trials. The enrollment timeline is expected to shorten, thereby speeding up development of novel therapies.
In Oct 2019, the European Commission approved Cosentyx to treat non-radiographic axial spondyloarthritis. The next step includes submission of label update application to US FDA and post approval, the market is expected to grow substantially.
“Agreement” is the other strategy used. For instance – Izana Bioscience, in Dec 2017, entered into a global license agreement with Takeda Pharmaceutical Company for manufacturing, commercializing, and developing Namilumab to treat ankylosing spondylitis.
Also, Zydus Cadila, in Nov 2017, launched Adalimumab’s biosimilar in India. It has been used to treat ankylosing spondylitis, rheumatoid arthritis, juvenile idiopathic arthritis. Initiatives like these have been giving impetus to the ankylosing spondylitis market and the status quo is likely to remain the same in the forecast period.
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The global ankylosing spondylitis treatment market is elaborated on the basis of drug class (Nonsteroidal Anti-inflammatory Drugs, Anti-Inflammatory Drugs, Immunosuppressive Drugs, TNF Blockers, JAK Inhibitors, Steroids, Biologics, and Others), route of administration (parenteral, oral), application (Adults, juvenile), and geography (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
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- Nonsteroidal Anti-inflammatory Drugs
- Anti-Inflammatory Drugs
- Immunosuppressive Drugs
- TNF Blockers
- JAK Inhibitors
Route of Administration:
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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