PUBLISHER: The Business Research Company | PRODUCT CODE: 1427696
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427696
Ankylosing spondylitis (AS) is a chronic inflammatory condition primarily affecting the spine and sacroiliac joints, causing inflammation in the joints and entheses, leading to pain, stiffness, and progressive loss of spinal mobility.
The main treatment modalities for ankylosing spondylitis include painkillers and non-steroidal anti-inflammatory drugs (NSAIDs), disease-modifying anti-rheumatic drugs (DMARDs), biological therapies, steroids, physical therapies, and surgery. Painkillers and NSAIDs are medications that inhibit the production of specific chemicals causing pain and swelling, aiming to relieve pain and reduce inflammation in AS treatment. Biologics, biosimilars, and small molecules are administered through various routes, including parenteral and oral, catering to both juvenile and adult populations. These treatments are employed by hospitals, clinics, research laboratories, and other end-users.
The ankylosing spondylitis market research report is one of a series of new reports from The Business Research Company that provides ankylosing spondylitis market statistics, including ankylosing spondylitis industry global market size, regional shares, competitors with an ankylosing spondylitis market share, detailed ankylosing spondylitis market segments, market trends and opportunities, and any further data you may need to thrive in the ankylosing spondylitis industry. This ankylosing spondylitis market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The ankylosing spondylitis market size has grown strongly in recent years. It will grow from $5.41 billion in 2023 to $5.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to the discovery of HLA-B27, the development of biologic treatments, advancements in pain management approaches, increased patient advocacy and awareness, and the utilization of NSAIDs and disease-modifying drugs in the management of ankylosing spondylitis.
The ankylosing spondylitis market size is expected to see strong growth in the next few years. It will grow to $7.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to the adoption of a personalized medicine approach, ongoing development of novel biologics, emphasis on early intervention and screening, management of lifestyle and diet, and the increased utilization of telemedicine and remote monitoring in the treatment of ankylosing spondylitis. Major trends in the forecast period include the availability of biosimilars, the focus on targeted pain therapies, an emphasis on patient-reported outcomes (PROs), community support programs, and exploration of regenerative medicine.
The expansion of the geriatric demographic is set to propel the ankylosing spondylitis market's growth trajectory. This demographic shift involves a notable increase in the elderly population, with a significant rise in individuals aged 60 and above. Ankylosing spondylitis treatments cater to this expanding segment, aiding in pain management and enhancing mobility among older adults affected by this condition. For instance, according to the World Health Organization's October 2022 report, projections indicate that by 2030, one out of every six individuals worldwide will be 60 years or older, marking a substantial increase from 2020, where the population of seniors surged from 1 billion to 1.4 billion. Consequently, the escalating geriatric populace serves as a driving force behind the ankylosing spondylitis market's growth.
The surge in autoimmune diseases is anticipated to drive the upward trajectory of the ankylosing spondylitis market. Autoimmune diseases encompass a diverse array of disorders characterized by the immune system's aberrant response, resulting in the wrongful targeting and harm of healthy cells, tissues, or organs. Ankylosing spondylitis, among these conditions, emerges when the body's immune system erroneously attacks its tissues, causing inflammation and damage, particularly affecting the spine and pelvis. As reported in a recent population-based study by the University of Oxford in May 2023, autoimmune disorders now afflict approximately one in ten individuals. This escalation in autoimmune ailments is expected to significantly contribute to the future expansion of the ankylosing spondylitis market.
Advancements in therapeutic solutions are a prominent trend shaping the landscape of the ankylosing spondylitis market. To fortify their market position, companies invested in this domain are pioneering novel therapeutic options. For instance, Pfizer Inc. secured FDA approval in December 2021 for XELJANZ (tofacitinib) to address active ankylosing spondylitis. This innovative Janus kinase (JAK) inhibitor, effective against five immuno-inflammatory conditions, offers a viable alternative for individuals intolerant or inadequately responsive to tumor necrosis factor (TNF) blockers. Notably, XELJANZ (tofacitinib) boasts the advantage of non-injection or infusion-based administration, providing patients with an alternative delivery method for the medication.
Prominent players in the ankylosing spondylitis arena are fervently developing innovative pharmaceuticals, leveraging enzymatic and cellular assays to cater to various immune-mediated inflammatory conditions. These drugs, validated through meticulous testing on specific enzymes or cell systems, promise precise and targeted interventions for a spectrum of ailments, including moderately to severely active rheumatoid arthritis, psoriatic arthritis, atopic dermatitis, ulcerative colitis, Crohn's disease, ankylosing spondylitis, and non-radiographic axial spondyloarthritis. AbbVie Inc., in April 2022, secured FDA approval for RINVOQ, a selective JAK inhibitor adeptly evaluated via enzymatic and cellular assays. RINVOQ exhibits heightened potency against JAK-1 compared to JAK-2, JAK-3, and TYK-2, showcasing its therapeutic efficacy across diverse immune-mediated inflammatory diseases, including ankylosing spondylitis (AS).
In April 2021, the Germany-based biopharmaceutical and technology company Merck & Co. Inc. completed the acquisition of Prometheus Biosciences Inc. for $10.8 billion. This strategic acquisition enhances Merck's immunology pipeline by introducing innovations and novel therapeutics, contributing to the broadening, diversification, and strengthening of its portfolio. Prometheus Biosciences Inc., a US-based biotechnology company, is recognized for its contribution to the treatment of ankylosing spondylitis through the development of PRA023.
Major companies operating in the ankylosing spondylitis market report are Pfizer Inc., Johnson & Johnson Pvt. Ltd., Merck & Co. Inc., AbbVie Inc., Novartis AG, Bristol-Myers Squibb, Eli Lilly and Company, Gilead Sciences Inc., Boehringer Ingelheim International GmbH, Amgen Inc., Cedars-Sinai, Viatris Inc., Astellas Pharma Inc., Regeneron Pharmaceuticals Inc., AstraZeneca PLC, UCB Inc., Cipla Inc., Zydus Lifesciences Limited, Celltrion Inc., Hetero Labs Ltd., UCSF Health, Janssen Biotech Inc., Sandoz International GmbH, Reliance Life Sciences Pvt. Ltd., Affibody Medical AB
North America was the largest region in the ankylosing spondylitis market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ankylosing spondylitis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the ankylosing spondylitis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The ankylosing spondylitis market consists of sales of nonsteroidal anti-inflammatory drugs, disease-modifying antirheumatic drugs (DMARDs), tumor necrosis factor (TNF) inhibitors, interleukin inhibitors, and corticosteroids. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Ankylosing Spondylitis Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ankylosing spondylitis market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ankylosing spondylitis ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ankylosing spondylitis market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.