Categories: Healthcare

Ankylosing Spondylitis Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Ankylosing Spondylitis Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Ankylosing Spondylitis Global Market Report 2024, The ankylosing spondylitis market size has grown strongly in recent years. It will grow from $5.41 billion in 2023 to $5.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to hla-b27 discovery, biologic treatments development, pain management approaches, patient advocacy and awareness, nsaids and disease modifying drugs.

The ankylosing spondylitis market size is expected to see strong growth in the next few years. It will grow to $7.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to personalized medicine approach, novel biologics development, early intervention and screening, lifestyle and diet management, telemedicine and remote monitoring. Major trends in the forecast period include biosimilar availability, targeted pain therapies, patient-reported outcomes (pros) emphasis, community support programs, regenerative medicine exploration.

The increasing geriatric population is expected to propel the growth of the ankylosing spondylitis market going forward. The geriatric population refers to an increase in the proportion of elderly people due to changes in the age structure of a population. This demographic shift has increased the number and proportion of people over the age of 60. Ankylosing spondylitis treatment and drugs help to improve mobility and manage pain in the geriatric population having ankylosing spondylitis condition. For instance, in October 2022, according to World Health Organization, a Switzerland-based international public health organization, by 2030, 1 out of 6 people in the world will be aged more than 60 years or above, and in 2020, there was a rise in 1 billion aged people reaching to 1.4 billion. Therefore, the increasing geriatric population is driving the growth of the ankylosing spondylitis market.

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The ankylosing spondylitis market covered in this report is segmented –

1) By Treatment Type: Painkillers And Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Disease-Modifying Anti-Rheumatic Drugs (DMARDS), Biological Therapies, Steroids, Physical Therapies, Surgery

2) By Molecule: Biologics, Biosimilar, Small Molecules

3) By Route of Administration: Parenteral, Oral, Other Routes

4) By Application: Juveniles, Adults

5) By End User: Hospitals, Clinics, Research Laboratories, Other End Users

The advancements in therapeutic options are a key trend gaining popularity in the ankylosing spondylitis market. Companies operating in ankylosing spondylitis are advancing new therapeutic options to sustain their position in the market. For instance, in December 2021, Pfizer Inc., a US-based pharmaceutical and biotechnology company received FDA approval for XELJANZ (tofacitinib) for the treatment of active ankylosing spondylitis. XELJANZ (tofacitinib) is a Janus kinase (JAK) inhibitor effective for five immuno-inflammatory conditions. This medication is effective against intolerance or inadequate response to one or more tumor necrosis factor (TNF) blockers. The XELJANZ (tofacitinib) does not require infusion or injection to deliver the medication.

The ankylosing spondylitis market report table of contents includes: