Global Axial Spondyloarthritis (axSpA) Market Size To Grow USD 10.1 Billion by 2030 | CAGR of 6.86%

Category: Healthcare

RELEASE DATE Apr 2023
REPORT ID SI1702

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Global Axial Spondyloarthritis (axSpA) Market to Grow $10.1 billion by 2032

 

According to a research report published by Spherical Insights & Consulting, Global Axial Spondyloarthritis (axSpA) Market Size is to grow from USD 5.2 billion in 2022 to USD 10.1 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.86% during the forecast period.

Global Axial Spondyloarthritis (axSpA) Market

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Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on the "Global Axial Spondyloarthritis (axSpA) Market Size, Share, and COVID-19 Impact Analysis, By Types (Ankylosing spondylitis (AS) and Non-radiographic axial spondyloarthritis (nr-axSpA), By Drug Class (Non-steroidal anti-inflammatory drugs (NSAID), Glucocorticoids, Anti-rheumatic drugs, & Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/axial-spondyloarthritis-axspa-market

 

Spondylarthritis (SpA), a class of chronic inflammatory autoimmune illnesses, shares several clinical and genetic traits. Spondylarthritis is a form of arthritis that often affects the arms and legs but can also impact the joints in the spine. These include the presence of enthesitis and dactylitis, frequent extraarticular manifestation, and involvement of the axial skeleton (sacroiliac joints and spine). A particular type of peripheral joint involvement (typically asymmetric monoarthritis or Oligoarthritis primarily affecting the joints of the lower extremities) is also present. The initial course of treatment for AxSpA is nonsteroidal anti-inflammatory drugs (NSAIDs). Biological products such as tumor necrosis factor (TNF) inhibitors, interleukin inhibitors, and Janus kinase (JAK) inhibitors may be used more aggressively in patients who do not react to NSAIDs.

 

Patients and healthcare professionals are becoming more aware of AxSpA, which allowed for earlier diagnosis and treatment. This is anticipated to boost demand for efficient treatments and propel market expansion. The development of diagnostic tools like magnetic resonance imaging (MRI) has increased the reliability of the AxSpA diagnosis, allowing earlier treatment and better results. AxSpA patients now have access to a wider range of treatments because of the development of novel, efficient medicines including biologics and biosimilars, which is also anticipated to improve patient access to care and propel market expansion. Also, favorable Reimbursement Policies are expected to increase patient access to treatment and drive market growth. Furthermore, although it is anticipated that the expiration of some biologics patents will enhance competition and lower prices, it is also possible that the businesses that hold these patents will see a decline in revenue.

 

COVID 19 Impact

With the number of COVID-19 cases increasing worldwide, healthcare facilities concentrated all of their resources on treating people with the condition. Although the fact that COVID-19 has a serious impact on the respiratory system, it has raised numerous questions about rheumatic diseases and the treatments available as well as the vulnerability or severity of the viral illness. Patients who suffer from inflammatory conditions, such as spondyloarthritis (SpA), have found the COVID-19 pandemic to be particularly difficult. The effects of a COVID-19 infection on individuals with rheumatic disorders have been the subject of numerous investigations, however, the results drawn from these reports have not always been consistent. The COVID-19 pandemic created numerous uncertainties regarding rheumatic diseases or their treatment concerning the susceptibility or severity of the viral disease, according to a study that was published in The Journal of Rheumatology in 2022 and polled responses from 4723 people with SpA and 450 of their household contacts.

 

The ankylosing spondylitis is driving the market with the largest market share over the forecast period.

Based on the types, global axial spondyloarthritis (axSpA) is classified into ankylosing spondylitis (AS) and non-radiographic axial spondyloarthritis (nr-axSpA). Among these, the ankylosing spondylitis segment is driving the market share during the forecast period due to Inflammation and bone development characterized by ankylosing spondylitis, a subtype of AxSpA that affects the spine and sacroiliac joints and can cause stiffness and persistent discomfort. Ankylosing spondylitis is thought to be the diagnosis in 90% of AxSpA cases.

 

The anti-inflammatory drugs segment is dominating the market over the forecast period.

Based on the drug class, global axial spondyloarthritis (axSpA) is segmented into non-steroidal anti-inflammatory drugs (NSAID), Glucocorticoids, anti-rheumatic drugs, & others. Among these, the segment non-steroidal anti-inflammatory drugs (NSAID) is dominating the market during the forecast period due to Nonsteroidal anti-inflammatory drugs (NSAIDs) are particularly efficient at treating the main axSpA symptoms and signs (pain and stiffness), and they may also be able to halt the degradation of the structural spine. The treatments that doctors favor for axial spondyloarthritis include nonsteroidal anti-inflammatory drugs (NSAIDs), including naproxen (Naprosyn) and indomethacin (Indocin and Tivorbex).

 

North America is dominating the market with the largest market share during the forecast period

 

Global Axial Spondyloarthritis (axSpA) Market

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North America is projected to account for a sizeable portion of the global market for axial spondyloarthritis, due to the rising prevalence, more awareness, and improved diagnosis in this area. Moreover, the development of the AxSpA market has also been boosted by the beneficial reimbursement practices in the US and Canada. Also, demand for these therapies has increased as a result of patients being able to afford the costly biologic medications thanks to the availability of insurance coverage.

Asia Pacific is anticipated to have significant growth over the forecast period due to the large rise in the older population in countries like China and India. The growth in the region's revenue is mostly attributable to the localization of producers of generic medications and the growth of medical facilities.

 

Major vendors in the Global Axial Spondyloarthritis (axSpA) Market include Johnson & Johnson, UCB, Amgen, Novartis Pharmaceuticals Corporation, Eli Lilly and Company, Kyowa Kirin, AbbVie, Acelyrin, Pfizer, Reckitt Benckiser Group plc, Sun Pharmaceutical Industries Ltd, & Others.

 

key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  •  In July 2022, The European Commission approved RINVOQ (upadacitinib) as an oral medication for people with active, non-radiographic axial spondyloarthritis.
  • In October 2021, to increase awareness of Axial Spondyloarthritis (axSpA) early diagnosis and treatment, Novartis expanded its relationship with the Axial Spondyloarthritis Association of the Philippines (ASAPh) and Philippine Rheumatology Association (PRA).

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Axial Spondyloarthritis (axSpA) Market based on the below mentioned segments:

 

Global Axial Spondyloarthritis (axSpA) Market, By Type

  • Ankylosing spondylitis (AS)
  • Non-radiographic axial spondyloarthritis (nr-axSpA)

 

Global Axial Spondyloarthritis (axSpA) Market, By Drug Class

  • Non-steroidal anti-inflammatory drugs (NSAID)
  • Glucocorticoids
  • Anti-rheumatic drugs
  • Others

 

Axial Spondyloarthritis (axSpA) Market, By Regional Analysis

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East & Africa

 

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

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