Axial spondyloarthritis (axSpA) is a chronic, inflammatory, immune-mediated condition which consists of 2 subsets that have been defined nonradiographic axial spondyloarthritis (nr-axSpA) and as ankylosing spondylitis (AS). Around the world people are suffering from Spondyloarthritis. According to the National Ankylosing Spondylitis Society, around 3 million people, close to 6% of the adult population, of the U.K. was suffering from chronic low back pain longer than 3 months in 2012.
In June 2020, Novartis announced that the US FDA has approved Cosentyx for the treatment of non-radiographic axial spondyloarthritis. In addition, UCB’s Cimzia which was approved by FDA in 2013 for the treatment of ankylosing spondyloarthritis received FDA approval in 2019 for treatment for non-radiographic axial spondyloarthriti. Moreover, Eli Lilly’s Taltz, also received an approval by the FDA in June 2020, to receive FDA approval for the treatment of non-radiographic axial spondyloarthritis. These recent developments in the biologics is expected to lead to significant growth in the Axial Spondyloarthritis (axSpA) Market during the forecast period.
Axial Spondyloarthritis (axSpA) Market: Drivers and Restraints
The increasing prevalence of Axial Spondyloarthritis (axSpA) is expected to drive the growth of the market. Increase in the nunber of approved Biosimilars will also boost the growth of the Axial Spondyloarthritis (axSpA) market during the forecast period. The focus of various biotechnological companies in R&D activities is also expected to propel the growth of the axial spondy loarthritis (axSpA) market.
However, the high cost of biologics used to treat Axial Spondyloarthritis (axSpA) will restrain the growth of the Axial Spondyloarthritis (axSpA) Market. The high cost associated with biologics is because of the lengthy testing and manufacturing processes required for manufacturing the biologics along with high investment for R&D activity.
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Axial Spondyloarthritis (axSpA) Market: Overview
In the Stages segment, the non-radiographic axial spondyloarthritis is expected to be experience considerable growth and lead the axial spondyloarthritis (axSpA) market towards tremendous growth. This is due to the new developments in the field of biologics that have been focusing on the treatment of non-radiographic axial spondyloarthritis.
Based on drug class, the non-steroidal anti-inflammatory drugs (NSAID) are expected to dominate the segment as it is highly effective and most commonly used in the treatment of Axial Spondyloarthritis (axSpA).
In the distribution channel segment, the hospital pharmacies and retail pharmacies are expected to be the largest contributor of revenue. However, with the increasing digitalization the online pharmacies are expected to undergo considerable growth during the forecast period in the Axial Spondyloarthritis (axSpA) Market.
Axial Spondyloarthritis (axSpA) Market: Regional-Wise Outlook
Geographically, the Axial Spondyloarthritis (axSpA) Market is segmented into seven regions viz. South Asia, East Asia, Europe, Latin America, North America, Oceania and Middle East and Africa.
North America is expected to account for the largest share in the Axial Spondyloarthritis (axSpA) Market due to the higher percentage of total income spent of healthcare in comparison to other regions, appropriate awareness and favorable reimbursement.
South Asia is expected to experience fastest growth in the Axial Spondyloarthritis (axSpA) Market owing to rising geriatric population, large population and improving healthcare infrastructure. Countries like India and China account for the highest population. According to UN, World Population Prospects 2019, India and China together account for 36% of total world population.
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Axial Spondyloarthritis (axSpA) Market: Key players
Some of the players identified in the Axial Spondyloarthritis (axSpA) Market include:
- Abbott Laboratories
- Pfizer, Inc.
- AbbVie, Inc.
- Astra Zeneca Plc.
- Eli Lilly and Company
- Novartis AG
- Merck & Co. Inc.
- UCB Biosciences GmbH
- GlaxoSmithKLine Plc.
- Johnson & Johnson
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology Matrix
- Value Chain
Regional analysis of the Axial Spondyloarthritis (axSpA) Market report includes
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa
An Adaptive Approach to Modern-day Research Needs
Axial Spondyloarthritis (axSpA) Market Report Highlights:
- Overview of Global Healthcare Market
- Evolution of the technology
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Axial Spondyloarthritis (axSpA) Market: Segmentation
Tentatively, the global Axial Spondyloarthritis (axSpA) Market has been segmented on the basis of stages, drug-class and distribution channel.
Based on stages, the global Axial Spondyloarthritis (axSpA) Market is segmented as:
- ankylosing spondylitis
- non-radiographic axial spondyloarthritis
Based on Drug class, the global Axial Spondyloarthritis (axSpA) Market is segmented as:
- non-steroidal anti-inflammatory drugs (NSAID)
- anti-rheumatic drugs
- TNFα inhibitors
Based on distribution channel, the global Axial Spondyloarthritis (axSpA) Market is segmented as:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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