Ankylosing Spondylitis Treatment Market Driven by New Product Launches
The global ankylosing spondylitis treatment market will continue to witness steady growth, driven by a slew of myriad, yet interconnected factors. A new report by ESOMAR-certified market research firm, Future Market Insights, offers incisive insights on key factors that will influence growth through 2030.
Ankylosing Spondylitis Treatment Market
A recent market study published by Future Market Insights (FMI) on the Ankylosing Spondyli...
According to FMI’s report, the options for treatment include disease-modifying anti-rheumatic drugs (methotrexate), nonsteroidal anti-inflammatory drugs (naproxen, ibuprofen, celecoxib, meloxicam, and diclofenac), biologics (certolizumab pegol, secukinumab, infliximab), and biosimilars.
Key Takeaways from Ankylosing Spondylitis Treatment Market Study
- Nonsteroidal anti-inflammatory drugs lead the market as they are looked upon as the first line of treatment for ankylosing spondylitis
- Oral route of administration holds the largest market share due to simplicity of consumption.
- By age group, “adults” contribute to majority of revenue generation as ankylosing spondylitis usually gets initiated in adulthood.
- North America, led by the US, holds the highest market share due to well-established healthcare infrastructure, high incidences of ankylosing spondylitis, and innovations in pharmaceutical industry.
“An increasing demand for nonsteroidal anti-inflammatory drugs through oral route of administration coupled with new product launches in this regard are likely to fuel the ankylosing spondylitis treatment market” – says the FMI analyst.
Ankylosing Spondylitis Treatment Market Landscape
The major players in the ankylosing spondylitis market include Wyeth, Mitsubishi Tanabe, Schering-Plough, Takeda, Novartis AG, Amgen, Centocor, Abbott, Eisai, and Pfizer.
As per the Oxford University Press, around 1% of the US population, 1.3-1.56 Mn European population, and 4.63-4.98 Mn population in the Asia Pacific are affected by ankylosing spondylitis. Also, the market is witnessing massive investment on the part of research to table new formulations.
Inorganic growth parameters are also contributing a great deal to the growth of ankylosing spondylitis treatment market. For instance – Novartis AG, in Jan 2019, entered into a collaboration with TrialSpark with an objective of increasing patients’ access to the clinical trials. The enrollment timeline is expected to shorten, thereby speeding up development of novel therapies.
In Oct 2019, the European Commission approved Cosentyx to treat non-radiographic axial spondyloarthritis. The next step includes submission of label update application to US FDA and post approval, the market is expected to grow substantially.
“Agreement” is the other strategy used. For instance – Izana Bioscience, in Dec 2017, entered into a global license agreement with Takeda Pharmaceutical Company for manufacturing, commercializing, and developing Namilumab to treat ankylosing spondylitis.
Also, Zydus Cadila, in Nov 2017, launched Adalimumab’s biosimilar in India. It has been used to treat ankylosing spondylitis, rheumatoid arthritis, juvenile idiopathic arthritis.
Initiatives like these have been giving impetus to the ankylosing spondylitis market and the status quo is likely to remain the same in the forecast period.
Want More Insights?
The global ankylosing spondylitis treatment market is elaborated on the basis of drug class (Nonsteroidal Anti-inflammatory Drugs, Anti-Inflammatory Drugs, Immunosuppressive Drugs, TNF Blockers, JAK Inhibitors, Steroids, Biologics, and Others), route of administration (parenteral, oral), application (Adults, juvenile), and geography (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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