|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The Global Ankylosing Spondylitis Market is expected to grow at a CAGR of 6.4% during the forecast period (2022 - 2027).
The COVID-19 pandemic impacted the ankylosing spondylitis market due to disruptions in various clinical studies and supply chains. Ankylosing spondylitis drug suppliers faced several challenges due to travel restrictions, business closures, stay-at-home protocols, and trade bans during the pandemic. Additionally, precautionary measures taken by governments like social distancing and restrictions have severely disrupted the patient’s treatments in the hospital. The pandemic and emergence of variants continue to cause, concern, and sudden and drastic downturn in the economic activity of several countries. This has expected to decline in the market growth during the pandemic.
The growth of the global ankylosing spondylitis drug market is majorly driven by an increase in the prevalence rate of the target disease. According to the article published by the Scandinavian Journal of Rheumatology in 2022, titled “Psoriatic arthritis, axial spondylitis and rheumatoid arthritis in Norway: nationwide prevalence and use of biologic agents”, the prevalence rate of spondylitis was 0.41%. Furthermore, the recent advancement in therapy, growing awareness about diagnostics and treatments for the disease, development of effective drugs are the major contributors to the growth of the market. Additionally, government initiatives and advanced healthcare infrastructure are expected to propel market growth over the forecast period.
Many companies are investing on large scale in research and development of ankylosing spondylitis drugs and therapies. Moreover, they are collaborating and adopting merger and acquisitions strategies for getting a stronger investment for the drugs. Thus, the rise in R&D investment is positively influencing the market growth. For instance, Bowie Shenqi Pill (Shanghai University of Traditional Chinese Medicine), Bimekizumab (UCB Biopharma), and Namilumab (Takeda Pharmaceuticals International GmbH) drugs are under development phase. This is expected to propel the market growth over the forecast period.
Due to a lack of awarfeness regarding ankylosing spondylitis in many nations, many individuals do not seek medical care and instead treat it as a normal ache. This scenario is particularly common in developing countries, which results in restraining the growth of the market.
Scope of the Report
As per the scope of the report, ankylosing spondylitis (previously known as Bechterew's disease, Bechterew syndrome, Marie Strümpell disease) is a chronic disorder that causes pain and inflammation within the joints, vertebrae in the lower back, places where tendons and ligaments attach to bones (spine), the cartilage between the breastbone and the ribs and hip and shoulder joints. The Global Ankylosing Spondylitis Treatment Market is segmented by treatment types (Medication, Therapy, and Surgery), and geography (North America, Europe, Asia-Pacific, Middle East, Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
|By Treatment Types|
Key Market Trends
Medication Segment is Expected to Hold a Large Share in the Market
Medication dominated the market in 2021 and is expected to grow during the forecast period due to the rise in ankylosing spondylitis patients and an increase in the adoption of medications for the treatment. Medication is focused on reducing the discomfort caused due to ankylosing spondylitis. Nonsteroidal anti-inflammatory drugs such as ibuprofen and naproxen, disease-modifying antirheumatic drugs such as methotrexate, and biologics including anti-TNF, and anti-IL7 drugs are some of the medications used to reduce pain and swelling.
Furthermore, new product launches are likely to fuel the treatment market, as they are used as the first line of treatment. For instance, in December 2021, Pfizer received approval from the United States Food and Drug Administration (FDA) for tofacitinib, known as Xeljanz or Xeljanz XR, a new medication to treat ankylosing spondylitis (AS) and other disorders like rheumatoid arthritis, juvenile Idiopathic Arthritis. Additionally, in October 2020, Cadila Pharmaceuticals launched the biosimilar of adalimumab, Cadalimab in India which is used to treat psoriatic arthritis, rheumatoid arthritis, psoriasis, and ankylosing spondylitis.
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North America Dominates the Market and is Expected to do the Same Over the Forecast Period
North America is anticipated to dominate the ankylosing spondylitis treatment market due to the rise in incidences and prevalence of target diseases, the presence of key players, well-established infrastructure in the region, and the increasing adoption of the latest technologies for better diagnosis options. As per the statistics published by The National Center for Biotechnology Information, in 2021, the prevalence of ankylosing spondylitis is approximately 5% to 6% in people who are HLA-B27 positive.
In addition, the approvals of drugs in the region for the treatment of ankylosing spondylitis are further boosting the growth of the market. for instance, In Feb 2020, Taltz (ixekizumab) received approval from Health Canada for treating adults with ankylosing spondylitis who failed to respond to other treatments. Furthermore, rapid adoption of new therapies and treatment options, raising awareness, and high healthcare expenditure in the region are expected to boost the market share of the region in the industry.
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The global ankylosing spondylitis treatment market is moderately competitive with several players across the globe. The majority of the key player is involved in the research and manufacturing of ankylosing spondylitis therapy drugs. These market players have gained a high market share and offer a wide range of products with an extensive distribution system across the world. Some of the major key players are Novartis, Amgen, Boehringer Ingelheim International GmbH, UCB Biopharma, and AbbVie.
- In December 2021, Coherus Biosciences received the United States Food and Drug Administration (FDA) approval for its Yusimry (adalimumab). It is a tumor necrosis factor (TNF) blocker biosimilar to Humira for the treatment of ankylosing spondylitis.
- In February 2021, Affibody AB received the United States Food and Drug Administration (FDA) clearance to proceed with phase 2 trials of Izokibep (engineered protein), indicated for patients with ankylosing spondylitis, which is designed to have high potency and a long half-life.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Target Diseases
4.2.2 Development and Commercialization of effective Product
4.3 Market Restraints
4.3.1 Huge cost of treatment
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value-USD million)
5.1 By Treatment Types
18.104.22.168 Nonsteroidal Anti-Inflammatory Drugs (NSAIDs)
22.214.171.124 TNF Inhibitors
126.96.36.199 IL-17 Inhibitors
5.2.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.2.4 Middle East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
5.2.5 South America
184.108.40.206 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Novartis AG
6.1.2 AbbVie Inc.
6.1.4 Amgen Inc.
6.1.5 Boehringer Ingelheim International GmbH
6.1.6 Celltrion Healthcare
6.1.7 Reliance Life Sciences
6.1.8 Janssen CarePath
6.1.9 Sandoz International GmbH
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Ankylosing Spondylitis Treatment market is studied from 2019 - 2027.
What is the growth rate of Global Ankylosing Spondylitis Treatment?
The Global Ankylosing Spondylitis Treatment is growing at a CAGR of 6.4% over the next 5 years.
Which region has highest growth rate in Global Ankylosing Spondylitis Treatment?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Ankylosing Spondylitis Treatment?
North America holds highest share in 2021.
Who are the key players in Global Ankylosing Spondylitis Treatment?
Novartis AG, AbbVie Inc., Amgen Inc., Boehringer Ingelheim International GmbH, UCB S.A. are the major companies operating in Global Ankylosing Spondylitis Treatment.