Axial Spondyloarthritis Market Size, Trends, Opportunities and Forecast (2022-2032)

The growing interest of the pharmaceutical industry in the therapeutic potential for treating axial spondyloarthritis has been a catalyst for the progress in the global axial spondyloarthritis market. Although most commercialized products for the treatment of axial spondyloarthritis include anti-tumor necrosis factor therapy and anti interleukin therapy, anti-janus kimase therapy is also anticipated to increase given the ability to fulfill unmet medical needs and address the complex, challenging targets. The recent increase in the number of drug approvals received for treating different types of axial spondyloarthritis is considered to have added value in the emerging potential drug development.

The Axial Spondyloarthritis Market was estimated to be at $1,873.8 million in 2021, which is expected to grow with a CAGR of 13.44% and reach $7,937.8 million by 2032. 

The growth in the global axial spondyloarthritis market is expected to be driven by the introduction of novel products, the increasing awareness about the disease, and the rising research and development investments, among others.

Market Lifecycle Stage

The global axial spondyloarthritis market is well established. Biopharmaceutical companies are trying to match themselves with new technologies in the market to improve the overall system from drug discovery to drug commercialization. The companies operating in the global axial spondyloarthritis market are now focusing more on biologics and personalized therapy to enhance therapeutics and improve patient outcomes. Also, major players such as AbbVie Inc., Eli Lilly and Company, Novartis International AG, and Pfizer Inc. are investing heavily in clinical trials for their respective therapeutic candidates to treat axial spondyloarthritis. Increasing investments in the research and development of drug manufacturing is one of the major opportunities in the global axial spondyloarthritis market.

Market Segmentation

Segmentation 1: by Commercialized Therapies
•    Anti-Tumor Necrosis Factor (TNF) Therapy
•    Anti-Interleukin (IL) Therapy
•    Anti-Janus Kinase (JAK) Therapy

In 2021, the global axial spondyloarthritis market in the commercialized therapies segment was dominated by the anti-tumor necrosis factor therapy segment. Years of successive and significant innovations in anti-tumor necrosis factor therapies have demonstrated tremendous potential in treating distinct indications of axial spondyloarthritis.

Segmentation 2: by Potential Pipeline Products
•    Anti-Janus Kinase (JAK) Therapy
•    Anti-Interleukin (IL)-17 Therapy
•    Other Therapy

In 2032, the global axial spondyloarthritis market is estimated to be dominated by the anti-interleukin 17 therapy and is expected to hold a 39.49% share of total potential pipeline products. Other therapy includes anti-Granulocyte/macrophage colony stimulating factor (GM-CSF) therapy and anti-phosphodiesterase 4 (PDE4) therapy.

Segmentation 3: by Indication
•    Ankylosing Spondylitis
•    Non-Radiographic Axial Spondyloarthritis

The ankylosing spondyloarthritis segment dominated the global axial spondyloarthritis market in 2021 due to a greater number of product approvals in seven major countries compared to non-radiographic axial spondyloarthritis.

Segmentation 4: by Country
•    U.S.
•    Germany
•    France
•    U.K.
•    Italy
•    Spain
•    Japan

The U.S. axial spondyloarthritis market was valued at $1,231.2 million in 2021 and is the leading market contributor. The growth can be attributed to the increased research and development activities in the country.

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Recent Developments in the Global Axial Spondyloarthritis Market

•    In December 2020, AbbVie's Upadacitinib (RINVOQ) met primary as well as secondary endpoints in the Phase III study for non-radiographic axial spondyloarthritis.   
•    In August 2020, AbbVie, Inc. submitted an application to the U.S. Food and Drug Administration (FDA) to seek approval for RINVOQ (Upadacitinib) to treat adult patients with active ankylosing spondylitis.
•    In March 2020, Novartis International AG received a positive CHMP opinion which recommended a positive opinion for Cosentyx for the treatment of active non-radiographic axial spondyloarthritis (nr-axSpA).
•    In June 20219, Kyowa Hakko Kirin Co., Ltd. stated a positive result of a 16-week efficacy and safety analysis of the Phase 3 study of Brodalumab in patients with ankylosing spondylitis and non-radiographic axial spondyloarthritis.

Article source: https://article-realm.com/article/Business/45914-Axial-Spondyloarthritis-Market-Size-Trends-Opportunities-and-Forecast-2022-2032.html