What Factors Propelled The Growth Of The Axial Spondyloarthritis (axSpA) Market In The Past?
The axial spondyloarthritis (axspa) market has seen considerable growth due to a variety of factors.
•The market for axial spondyloarthritis (axspa) has seen substantial growth in the past few years. Forecasts suggest it will increase from $6.08 billion in 2024 to $6.58 billion in 2025, representing a compound annual growth rate (CAGR) of 8.3%.
The expansion in the past historic period is largely due to enhanced diagnostic standards, advancements in biological treatment, increased awareness of the disease, developments in genetic research, and progression in clinical trials.
What Is The Projected Growth And Market Size For The Axial Spondyloarthritis (axSpA) Sector?
The axial spondyloarthritis (axspa) market is expected to maintain its strong growth trajectory in upcoming years.
• The market for axial spondyloarthritis (axspa) is predicted to witness significant expansion in the upcoming years, with an expected increase to $9.05 billion by 2029, at an 8.3% compound annual growth rate (CAGR).
This growth during the projected period can be credited to advancements such as improvement in biomarker identification, customized treatments, integration of digital health, widened treatment choices, and the backing of health policies. The major trends on the horizon during this forecast period include strategies for early intervention, patient-centered healthcare, the rise in telemedicine and remote consultations, research into disease mechanisms and a focus on shared decision-making.
Which Factors Are Boosting Growth In The Axial Spondyloarthritis (axSpA) Market?
The escalating occurrence of spondyloarthritis is predicted to fuel the expansion of the axial spondyloarthritis (axSpa) market. Spondyloarthritis is a lasting disease, primarily impacting the axial skeleton, such as the spine and sacroiliac joints. The surge in spondyloarthritis (axSpA) incidents can be linked to the growing older population and spinal damages due to even minor trip-ups or accidents. Diverse treatments are offered for pain relief, inflammation reduction, and improving the life quality of those suffering from axSpA. For example, the Musculoskeletal Health Report 2023 by Versus Arthritis, a UK charity committed to aiding people with arthritis, revealed in June 2023 that as of 2022, about 60,000 people were suffering from axial spondyloarthritis. Furthermore, each year, nearly 2,200 adults are newly diagnosed with this condition. As such, the growing occurrence of axial spondyloarthritis (axSpa) is stimulating the expansion of the axial spondyloarthritis (axSpa) market.
What Key Areas Define The Segmentation Of The Global Axial Spondyloarthritis (axSpA) Market?
The axial spondyloarthritis (axSpA) market covered in this report is segmented –
1) By Types: Ankylosing Spondylitis (AS), Non-Radiographic Axial Spondyloarthritis (nr-axSpA)
2) By Commercialized Therapies: Anti-Tumor Necrosis Factor Therapy (TNF), Anti-Interleukin Therapy (IL), Anti-Janus Kinase Therapy (JAK)
3) By Dosage Form: Tablets, Injections
4) By Treatment: Tumor Necrosis Factor (TNF) Alpha Inhibitors, Non-Steroidal Anti-Inflammatory Drugs (NSAID), Conventional Disease Modifying Anti-Rheumatic Drugs, Glucocorticoids, Interleukin Blockers
5) By End-Use: Hospital Pharmacies, Retailer Pharmacies, Online Pharmacy Stores
Subsegments:
1) By Ankylosing Spondylitis (AS): Early-stage AS, Advanced-stage AS
2) By Non-Radiographic Axial Spondyloarthritis (nr-axSpA): Symptomatic nr-axSpA, Asymptomatic nr-axSpA
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How Are Emerging Trends Reshaping The Dynamics Of The Axial Spondyloarthritis (axSpA) Market?
The primary trend seen in the axial spondyloarthritis (axSpA) market is centred around product innovations. To maintain their hold over the market, most companies operating in the axSpA market are focusing on developing new drugs. UCB SA, a pharmaceutical company based out of Belgium, received approval from the New European Commission in June 2023 for the marketing authorization of BIMZELX (bimekizumab). It's a medication used to treat adult patients struggling with active axial spondyloarthritis (axSpA), non-radiographic axial spondyloarthritis (nr-axSpA), and ankylosing spondylitis (AS) exhibiting signs of inflammation as proven by a rise in C-reactive protein. The sanctions given by the European Union (EU) constitute the inaugural global marketing licenses for the drug in the axial spondyloarthritis market.
Who Are the Key Players in the Axial Spondyloarthritis (axSpA) Market?
Major companies operating in the axial spondyloarthritis (axSpA) market include:
• 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
What Is The Most Dominant Region In The Axial Spondyloarthritis (axSpA) Market?
North America was the largest region in the axial spondyloarthritis(axSpA) market in 2024. 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
