Press release
Axial Spondyloarthritis (axSpA) Industry - Key Market Dynamics and Trends
Axial Spondyloarthritis (axSpA)
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 growth in the forecast period can be attributed to advancements in biomarker identification, tailored therapies, digital health integration, expanded treatment options, healthcare policy support:. Major trends in the forecast period include early intervention strategies, patient-centric care, telemedicine and remote consultations, research on disease mechanisms, shared decision-making.
Market Overview -
Axial Spondyloarthritis (axSpA) is a chronic inflammatory condition that predominantly impacts the axial skeleton, encompassing the spine and sacroiliac joints. It is characterized by inflammation in the sacroiliac joints, resulting in persistent back pain and stiffness.
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Rising Prevalence Of Axial Spondyloarthritis (AXSPA) Is A Catalyst For Market Growth And Advancements In Treatment
The increasing prevalence of spondyloarthritis is expected to propel the growth of the axial spondyloarthritis (axSpa) market going forward. Spondyloarthritis is a chronic illness that typically affects the axial skeleton, including the spine and sacroiliac joints. The rising cases of spondyloarthritis (axSpA) can be associated with the increasing aging population and spine injuries from even minor falls or other accidents, where various treatments are provided for pain management, inflammation control, and enhancing the patient's quality of life suffering from axSpA. For instance, in June 2023, according to Versus Arthritis's Musculoskeletal Health Report 2023, a UK-based charity dedicated to supporting people with arthritis, as of the year 2022, around 60,000 individuals were afflicted with axial spondyloarthritis, and annually, approximately 2,200 adults receive a new diagnosis for this condition. Therefore, the increasing prevalence of axial spondyloarthritis (axSpa) is driving the growth of the axial spondyloarthritis (axSpa) market.
Competitive Landscape -
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.
UCB Sa Secures Eu Approval For Bimzelx In Treating Axial Spondyloarthritis (AXSPA)
Product innovations are the key trend gaining popularity in the axial spondyloarthritis (axSpA) market. Major companies operating in the axial spondyloarthritis (axSpA) market are developing new drugs to sustain their position in the market. For instance, in June 2023, UCB SA, a Belgium-based pharmaceutical company, received approval from the New European Commission for the marketing authorization of BIMZELX (bimekizumab). This medication is used to treat adults with active axial spondyloarthritis (axSpA), non-radiographic axial spondyloarthritis (nr-axSpA), and ankylosing spondylitis (AS) with objective signs of inflammation as indicated by elevated C-reactive protein. These European Union (EU) authorizations represent the drug's first global marketing licenses for axial spondyloarthritis.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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