The Axial Spondyloarthritis (axSpA) 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 Axial Spondyloarthritis (axSpA) Global Market Report 2024, The axial spondyloarthritis (axspa) market size has grown strongly in recent years. It will grow from $5.54 billion in 2023 to $6.04 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to improved diagnostic criteria, biological treatment advancements, rising disease awareness, genetic research advances, clinical trial progress.
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.
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.
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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
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.
The axial spondyloarthritis (axspa) market report table of contents includes:
1. Executive Summary
2. Axial Spondyloarthritis (axSpA) Market Characteristics
3. Axial Spondyloarthritis (axSpA) Market Trends And Strategies
4. Axial Spondyloarthritis (axSpA) Market – Macro Economic Scenario
5. Global Axial Spondyloarthritis (axSpA) Market Size and Growth
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31. Axial Spondyloarthritis (axSpA) Market Other Major And Innovative Companies
32. Global Axial Spondyloarthritis (axSpA) Market Competitive Benchmarking
33. Global Axial Spondyloarthritis (axSpA) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Axial Spondyloarthritis (axSpA) Market
35. Axial Spondyloarthritis (axSpA) Market Future Outlook and Potential Analysis
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