Global Ankylosing Spondylitis Market valued at USD 4.4 billion in 2020 | Growth Market Reports

Posted May 5, 2022 by sararaposo9

The global Ankylosing Spondylitis market size was valued at USD 4.4 billion in 2020 and is anticipated to expand at a CAGR of 8.2% during the forecast period, 2021-2028.
The global Ankylosing Spondylitis market size was valued at USD 4.4 billion in 2020 and is anticipated to expand at a CAGR of 8.2% during the forecast period, 2021-2028. The growth of the market is attributed to the technological advancement that is undertaken in the study of Ankylosing Spondylitis along with the introduction of latest techniques, products and biosimilars due to the high occurrences of this disease.

Ankylosing Spondylitis is a disease, inflammatory in nature, which occurs over time that can cause the small bones that are present in the patient’s body to fuse. This fusion results in the spine to become less flexible resulting in a hunched-forward position. If the ribs get affected from this fusion, then the patient might have breathing problems as well.

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Early symptoms and signs of Ankylosing Spondylitis includes stiffness and pain in the patient’s hips and lower back body in the morning or after long periods of inactivity. Fatigue and neck pain are common symptoms as well. There are several treatment methods that allow the patient to handle the inflammation pain better, along with new drugs such as non-steroidal anti-inflammatories or the NSAIDs.

According to a study conducted by the Oxford University Press and referred by the World Health Organization or the WHO, the active number of Ankylosing Spondylitis patients in Europe is 1.55 million and 4.97 million in Asia Pacific. The COVID-19 pandemic has reduced the growth of the global Ankylosing Spondylitis market initially. However, upon further studies, researchers and scientists found out that the coronavirus has the viral gene of accelerating illness of the hosts. Basically, a patient of Ankylosing Spondylitis was more susceptible to the COVID-19 virus than that of a healthy person. This steered to hospitals, clinics, and healthcare laboratories to focus more on the diagnosis of Ankylosing Spondylitis for the prevention and treatment of diseases and this led to its market growth.

Market Trends, Drivers, Restraints, and Opportunities
• Increase in spending and investing by the companies towards the diagnosis of Ankylosing Spondylitis is the primary reason for the projection of boosting the market growth during the forecast period, 2021-2028.
• There has been a major breakthrough after the studies conducted by researchers and scientists on Ankylosing Spondylitis, understanding a treatment regime can indeed lead to cure for this disease. Although not physically proven, from a theoretical standpoint, Ankylosing Spondylitis ca be cured, and this news in itself can become a major factor boosting the market growth.
• High prices for the development of Ankylosing Spondylitis & NSAID drugs and high cost of services from the company’s perspective is anticipated to hinder the global Ankylosing Spondylitis market growth. This becomes extremely difficult to function in developing countries such as India, South Africa and Brazil where there is limited healthcare infrastructure with regards to Ankylosing Spondylitis.

Global Ankylosing Spondylitis Market Segment Insights

Humira segment is projected to represent a large market share
Based on drugs, the global Ankylosing Spondylitis market is divided into Cosentyx, Humira, Simponi, Remicade, Enbrel, Cimzia, and others. The humira segment is expected to constitute the major share of 24.5% of the market in 2019. The major reason attributing to this market growth is low cost along with high efficacy. This product, however, is currently expected to lose sales during the forecast period, 2021-2028 as researchers and scientists have been able to find new methodologies involving lower cost and higher efficacy.

North America is anticipated to dominate the market
On the basis of regions, the global Ankylosing Spondylitis market is categorized as Asia Pacific, North America, Latin America, Europe and Middle East & Africa. The market in North America is expected to constitute a major share of 59.7% in 2019. This regional market growth can be attributed to the growing research & development expenditure along with the rising in adoption of the latest technology.

Compititive Landscape
Major players competing in the global Ankylosing Spondylitis market are AbbVie Inc; Amgen Inc; Pfizer Inc; Novartis AG; Eli Lilly and Company; UCB Inc; Johnson & Johnson Services Inc; and Merck & Co Inc. These market players are involved in several business strategies such as mergers, acquisitions partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. Pfizer Inc has started recruiting patients for the determination of the remission criterion for a period of six months for etanercept. AbbVie Inc, in May 2019, announced their patent extension for Humira for the period till 2023 in the United States after which they made their settlement with another company Boehringer Ingelheim International GmbH.

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Tags ankylosing spondylitis market , ankylosing spondylitis market cagr , ankylosing spondylitis market share , ankylosing spondylitis market size
Last Updated May 5, 2022