2024 Axial Spondyloarthritis (axSpA) Market Summary: 5 Key Findings
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What Growth Projections are in Place for the Axial Spondyloarthritis (axSpA) Market Between 2024-2033?
In recent years, the market size for axial spondyloarthritis (axspa) has experienced significant growth. It is projected to expand from $5.54 billion in 2023 to $6.04 billion in 2024, representing a compound annual growth rate (CAGR) of 9.0%. This increase during the historical period can be credited to enhancements in diagnostic criteria and biological treatments, heightened awareness of the disease, advances in genetic research, and progress in clinical trials.
The market size for axial spondyloarthritis (axspa) is anticipated to witness robust growth in the coming years. It is projected to escalate to $8.18 billion by 2028, growing at a compound annual growth rate (CAGR) of 7.9%. Contributing factors to this growth during the prediction period involve progress in identifying biomarkers, customized treatments, incorporation of digital health, broader treatment choices, and supportive health policies. Upcoming trends within this duration embrace early interference tactics, care that is integral to the patient, adoption of telemedicine and distant consultations, investigation into disease workings, and collective decision-making.
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What Are the Major Factors Contributing to the axial spondyloarthritis (axspa) Market Expansion?
The proliferation of spondyloarthritis is anticipated to fuel the expansion of the axial spondyloarthritis (axSpa) market in the future. Spondyloarthritis is a long-standing ailment primarily targeting the axial skeleton, incorporating the spine and sacroiliac joints. The escalating instances of spondyloarthritis (axSpA) are attributed to the growing elderly population and spinal injuries from even trivial accidents or falls, treating which various methods are applied for pain alleviation, inflammation reduction, and improvement in the quality of life of those affected by axSpA. To illustrate, in June 2023, as per the Musculoskeletal Health Report 2023 by Versus Arthritis, a charity based in the UK devoted to assisting arthritis patients, approximately 60,000 individuals were diagnosed with axial spondyloarthritis in 2022, and nearly 2,200 adults obtain this prognosis annually. Hence, the progressive prevalence of axial spondyloarthritis (axSpa) is influencing the progress of the axial spondyloarthritis (axSpa) market.
Which Key Segments Shape the Axial Spondyloarthritis (axSpA) Market?
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
What Are the Transformative Trends Influencing the Axial Spondyloarthritis (axSpA) Market?
In the axial spondyloarthritis (axSpA) market, product innovations are emerging as a notable trend. Dominant corporations within the axSpA market are designing new pharmaceuticals to consolidate their market influence. For example, UCB SA, a pharmaceutical firm based in Belgium, was granted marketing authorization from the New European Commission for BIMZELX (bimekizumab) in June 2023. This drug is employed for treating adult patients grappling with active axSpA, non-radiographic axSpA (nr-axSpA), and ankylosing spondylitis (AS), displaying evident inflammation indications such as spiked C-reactive protein. These endorsements from the European Union (EU) mark the first worldwide marketing permissions for this axSpA drug.
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What Regions Are Leading the Growth Trajectory of the Axial Spondyloarthritis (axSpA) Market?
North America was the largest region in the axial spondyloarthritis(axSpA) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the axial spondyloarthritis (axspa) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Axial Spondyloarthritis (axSpA) Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the axial spondyloarthritis (axspa) market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Axial Spondyloarthritis (axSpA) Market Include
1. Axial Spondyloarthritis (axSpA) Market Executive Summary
2. Axial Spondyloarthritis (axSpA) Market Segments
3. Axial Spondyloarthritis (axSpA) Market Size And Template Market Growth Rate
4. Key Axial Spondyloarthritis (axSpA) Market Trends
5. Major Axial Spondyloarthritis (axSpA) Market Drivers
……
25. Key Mergers And Acquisitions In The Axial Spondyloarthritis (axSpA) Market
26. Top Axial Spondyloarthritis (axSpA) Companies
27. Axial Spondyloarthritis (axSpA) Market Opportunities And Strategies
28. Axial Spondyloarthritis (axSpA) Market, Conclusions And Recommendations
29. Appendix
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