The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The worldwide axial spondyloarthritis market is forecasted to rise from $5.07 billion in 2022 to $5.54 billion in 2023, with a 9.3% CAGR. It is projected to reach $7.55 billion in 2027, maintaining an 8.1% CAGR.

North America held the largest axial spondyloarthritis market share, and Asia-Pacific was the fastest-growing region in 2022.

Axial Spondyloarthritis Market Driver

The growing prevalence of spondyloarthritis propels the axial spondyloarthritis (axSpA) market. Spondyloarthritis is a chronic condition primarily affecting the axial skeleton, such as the spine and sacroiliac joints. Increased axSpA cases can be attributed to factors like an aging population and spinal injuries from minor accidents, leading to various treatments for pain management, inflammation control, and improving patient quality of life. In June 2023, Versus Arthritis’s Musculoskeletal Health Report 2023 reported around 60,000 individuals affected by axial spondyloarthritis in 2022, with approximately 2,200 adults receiving new diagnoses each year. This underscores the market’s growth tied to increasing axial spondyloarthritis prevalence.

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Prominent Axial Spondyloarthritis Market Trend

Product innovations are the prevailing trend in the axial spondyloarthritis (axSpA) market. Leading companies are creating novel medications to maintain their market standing. In June 2023, Belgium-based pharmaceutical firm UCB SA gained marketing authorization from the New European Commission for BIMZELX (bimekizumab), a treatment for adults with active axial spondyloarthritis (axSpA), non-radiographic axial spondyloarthritis (nr-axSpA), and ankylosing spondylitis (AS) displaying objective signs of inflammation through elevated C-reactive protein. These European Union (EU) authorizations mark the drug’s first global marketing licenses for axial spondyloarthritis. 

Axial Spondyloarthritis Market Prominent Players

Major players in the axial spondyloarthritis (axspa) market are Johnson and Johnson Private Limited, Pfizer Inc., F. Hoffmann-La Roche AG, Merck and Co. Inc., AbbVie Inc., Novartis AG, Sanofi S.A, Bristol-Myers Squibb Company, AstraZeneca plc., Abbott Laboratories, GSK plc., Eli Lilly and Company, Takeda Pharmaceutical Company Limited, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Biogen Inc., Vertex Pharmaceuticals Incorporated, UCB S.A., Boehringer Ingelheim International GmbH., Horizon Therapeutics Public Ltd Co, Mitsubishi Tanabe Pharma Corporation, Ipsen Technologies Pvt Ltd., Kyowa Kirin Co. Ltd., Sun Pharmaceutical Industries Ltd., Acelyrin Inc., Nordic Bioscience A/S, Iroko Pharmaceuticals LLC, Celgene Corporation, and Pozen Inc.

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Key Axial Spondyloarthritis Market Segments

The global axial spondyloarthritis market 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

The Axial Spondyloarthritis Global Market Report 2023  provides a comprehensive overview on the axial spondyloarthritis market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the axial spondyloarthritis market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Axial Flow Pump Global Market Report 2023

Cervical Spondylosis Treatment Global Market Report 2023

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