PUBLISHER: The Business Research Company | PRODUCT CODE: 1428439
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428439
Axial Spondyloarthritis (axSpA) is a chronic inflammatory condition primarily affecting the axial skeleton, including the spine and sacroiliac joints, leading to persistent back pain and stiffness. The condition is characterized by inflammation in the sacroiliac joints.
The main types of axial spondyloarthritis (axSpA) include Ankylosing Spondylitis (AS) and non-radiographic axial spondyloarthritis (nr-axSpA). Ankylosing Spondylitis (AS) is a specific form of arthritis that affects the ligaments and joints in the spine. Commonly used over-the-counter anti-inflammatory medications, such as naproxen and ibuprofen, are often employed to alleviate pain, inflammation, and muscle stiffness, with the goal of delaying complications and spinal deformities. Various commercialized therapies are available for the treatment of axial spondyloarthritis, including anti-tumor necrosis factor therapy (TNF), anti-interleukin therapy (IL), and anti-janus kinase therapy (JAK). These therapies come in different dosage forms, such as tablets and injections, and are utilized for different types of treatments, including tumor necrosis factor (TNF) alpha inhibitors, non-steroidal anti-inflammatory drugs (NSAID), conventional disease-modifying anti-rheumatic drugs, glucocorticoids, and interleukin blockers. These treatments are distributed through different channels, including hospital pharmacies, retail pharmacies, and online pharmacy stores.
The axial spondyloarthritis (axSpA) market research report is one of a series of new reports from The Business Research Company that provides axial spondyloarthritis (axSpA) market statistics, including axial spondyloarthritis (axSpA) industry global market size, regional shares, competitors with an axial spondyloarthritis (axSpA) market share, detailed axial spondyloarthritis (axSpA) market segments, market trends and opportunities, and any further data you may need to thrive in the axial spondyloarthritis (axSpA) industry. This axial spondyloarthritis (axSpA) 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 axial spondyloarthritis (axspa) market size has grown strongly in recent years. It will grow from $5.54 billion in 2023 to $6.04 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed in the historical period can be attributed to several factors, including improved diagnostic criteria for axial spondyloarthritis (axSpA), advancements in biological treatments, increased awareness of the disease, progress in genetic research related to axSpA, and advancements in clinical trials. These factors collectively contributed to the developments and progress in the understanding and management of axial spondyloarthritis during the specified historical timeframe.
The axial spondyloarthritis (axspa) market size is expected to see strong growth in the next few years. It will grow to $8.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to various factors, including advancements in biomarker identification for axial spondyloarthritis (axSpA), the development of tailored therapies, integration of digital health solutions, expansion of treatment options, and supportive healthcare policies. Key trends expected during this period encompass early intervention strategies for axSpA, the adoption of patient-centric care approaches, increased utilization of telemedicine and remote consultations, ongoing research on disease mechanisms, and the promotion of shared decision-making in the management of axSpA.
The rising prevalence of spondyloarthritis is expected to be a driving force behind the growth of the axial spondyloarthritis (axSpa) market. Spondyloarthritis, a chronic condition primarily affecting the axial skeleton, such as the spine and sacroiliac joints, has seen an increase in cases linked to the aging population and spinal injuries resulting from minor falls or accidents. Various treatments aim at managing pain, controlling inflammation, and improving the quality of life for individuals suffering from axSpA. For example, according to Versus Arthritis's Musculoskeletal Health Report 2023, a UK-based charity supporting people with arthritis, approximately 60,000 individuals were affected by axial spondyloarthritis in 2022, with around 2,200 adults diagnosed annually with this condition. Hence, the rising prevalence of axial spondyloarthritis is a significant driver fueling the growth of the axSpa market.
The anticipated growth of the axial spondyloarthritis (axSpA) market is expected to be driven by the increasing elderly population. The term 'aging population' denotes a demographic shift characterized by a growing proportion or higher percentage of older individuals within a populace. Managing axSpA among the elderly yields several benefits, including enhanced joint function and mobility, improved quality of life, prevention of spinal structural damage, reduced healthcare expenses, disability prevention, and optimized treatment approaches. As per the World Health Organization's data from October 2022, it's projected that by 2030, globally, 1 in 6 individuals will be aged 60 or above, while by 2050, this age group will double to approximately 2.1 billion people. In the UK, statistics from June 2021 by the UK Parliament's House of Commons Library suggest that by 2043, the senior population will constitute around 24% of the total UK population, comprising about 17.4 million individuals. Therefore, the growing aging population is a significant driver fostering the expansion of the axial spondyloarthritis (axSpA) market.
Product innovation stands out as a leading trend gaining traction in the axial spondyloarthritis (axSpA) market. Key companies in this field are actively developing novel drugs to maintain their market standing. For instance, in June 2023, UCB SA, a pharmaceutical company based in Belgium, obtained marketing authorization from the New European Commission for BIMZELX (bimekizumab). This medication is designed for treating active axial spondyloarthritis (axSpA), non-radiographic axial spondyloarthritis (nr-axSpA), and ankylosing spondylitis (AS) in adults exhibiting objective signs of inflammation indicated by elevated C-reactive protein. These approvals within the European Union represent the first global marketing authorizations for the treatment of axial spondyloarthritis using this drug.
Significant investments are a focal point for major companies operating in the axial spondyloarthritis (axSpA) market to gain a competitive advantage. Notably, the investment revolves around the development of Izokibep, a unique IL-17A inhibitor intended for managing inflammatory diseases such as psoriatic arthritis (PsA) and axial spondyloarthritis (AxSpA). For example, in September 2022, Acelyrin Inc., a biopharmaceutical company based in the US, announced a $300 million investment. Izokibep, a mimetic antibody simulating interleukin-17A (IL-17A), aims to overcome the limitations of monoclonal antibodies and has shown promising tolerability in clinical trials. This substantial investment is directed towards securing potential approvals for Izokibep as a treatment for various inflammatory conditions and advancing its clinical development. The company's commitment to pioneering immunology therapies and addressing unmet medical needs in treating inflammatory disorders is evident through its emphasis on securing significant funding and advancing the development of Izokibep.
In April 2022, Ampersand Health, a UK-based research company, entered into a partnership with UCB SA for an undisclosed amount. This collaboration is intended to benefit patients dealing with axial spondyloarthritis (axSpA) by leveraging the innovative digital solutions from Ampersand Health and the clinical expertise of UCB SA. The aim of the partnership is to enhance the management of symptoms for individuals with axial spondyloarthritis and improve their overall quality of life. UCB SA, the Belgium-based biopharmaceutical company involved in neurology and immunology therapies, is known for providing solutions in the field of axial spondyloarthritis.
Major companies operating in the axial spondyloarthritis (axspa) market report are Johnson and Johnson Private Limited, Pfizer Inc., F. Hoffmann-La Roche AG, Merck and Co. Inc., AbbVie Inc., Novartis AG, Sanofi S.A, Bristol-Myers Squibb Company, AstraZeneca plc., Abbott Laboratories, GSK plc., Eli Lilly and Company, Takeda Pharmaceutical Company Limited, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, UCB S.A., Boehringer Ingelheim International GmbH., Horizon Therapeutics Public Ltd Co, Mitsubishi Tanabe Pharma Corporation, Ipsen Technologies Pvt Ltd., Kyowa Kirin Co. Ltd., Sun Pharmaceutical Industries Ltd., Acelyrin Inc., Nordic Bioscience A/S, Iroko Pharmaceuticals LLC, Celgene Corporation, Pozen Inc.
North America was the largest region in the axial spondyloarthritis (axSpA) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the axial spondyloarthritis (axspa) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the axial spondyloarthritis (axspa) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The axial spondyloarthritis (axSpA) market consists of revenues earned by entities by providing physical examinations, blood tests, magnetic resonance imaging (MRI) scans, and X-ray scans. The market value includes the value of related goods sold by the service provider or included within the service offering. The axial spondyloarthritis (axSpA) market also includes sales of analgesics, biologics, ibuprofen, naproxen, and diclofenac. 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.
Axial Spondyloarthritis (axSpA) 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 axial spondyloarthritis (axspa) 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 axial spondyloarthritis (axspa) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The axial spondyloarthritis (axspa) 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.
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