Ankylosing Spondylitis Treatment Market Size

Ankylosing Spondylitis Treatment Market Analysis

The Ankylosing Spondylitis Treatment Market size is estimated at USD 6.64 billion in 2024, and is expected to reach USD 9.72 billion by 2029, growing at a CAGR of 7.75% during the forecast period (2024-2029).

The COVID-19 pandemic impacted the ankylosing spondylitis market due to disruptions in various clinical studies and supply chains. COVID-19 was more common in people with ankylosing spondylitis who were taking immunosuppressive medications. For instance, an article published in BMC Journal in January 2023 stated that an electronic medical-record management system (EMRMS) was implemented at the Taichung Veterans General Hospital (TCVGH) for patients with ankylosing spondylitis (AS). The study found that the disease activity of AS worsened after the number of COVID-19 cases increased in Taiwan.

However, people with ankylosing spondylitis managed their care through telehealth visits that were carried out virtually, which compensated for the market growth in the later phase of the pandemic. The ankylosing spondylitis market started recovering since the restrictions were lifted. The market is gradually growing due to the rising product approvals and launches by market players. The market is expected to register a stable growth rate during the forecast period.

The growth of the ankylosing spondylitis treatment market is majorly driven by an increase in the prevalence rate of the target disease and rising reimbursements by government and private organizations for the treatment.

For instance, according to a StatPearls article updated in April 2022, ankylosing spondylitis (AS) is diagnosed in people younger than 40 years, and approximately 80% of patients develop first symptoms when they are younger than 30 years old. Therefore, the high burden of AS is expected to propel the AS treatment market during the forecast period.

Furthermore, the recent advancement in therapy, growing awareness about the treatments for the disease, and the 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. For instance, in August 2022, the National Institute for Health and Care Excellence (NICE) approved reimbursement for AbbVie's Rinvoq (upadacitinib) in the United Kingdom. Such reimbursements to reduce the economic burden of a patient undergoing treatment are expected to propel market growth.

The rising clinical trials for the development of ankylosing treatment are expected to propel the demand for treatment. For instance, a phase II clinical trial was initiated in June 2021 to assess the efficacy and safety of subcutaneous SHR-1314 in patients with Active Ankylosing Spondylitis. The trial was sponsored by Suzhou Suncadia Biopharmaceuticals Co., Ltd. and the expected completion is in March 2024. The high number of clinical trials indicates the high demand for ankylosing spondylitis treatment during the forecast period.

Additionally, the strategic initiatives by market players such as research and development to develop innovative treatments, rising approvals, and product launches are contributing to the growth of the market. For instance, in September 2023, the United States Food and Drug Administration (FDA) provided approval to the intravenous (IV) formulation of Cosentyx by Novartis for the treatment of adults with psoriatic arthritis (PsA), ankylosing spondylitis (AS) and non-radiographic axial spondyloarthritis (nr-axSpA).

Similarly, 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. Therefore, the rising clinical trial developments to develop innovative treatment is expected to propel the market growth.

Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, the high cost of treatment is expected to impede market growth.