The rise in the incidence rate of ankylosing spondylitis, the elevating focus on RD activities, and lack of approval of therapies have resulted in boosting the Ankylosing Spondylitis Drugs market.
The global ankylosing spondylitis drugs market is forecast to reach USD 8,413.0 Million by 2028, according to a new report by Reports and Data. Ankylosing spondylitis (AS) is a chronic condition that has no permanent cure. It can be defined as an inflammatory disease that results in some of the small bones in the spine (vertebrae) to fuse over time. The fusing of the small bones results in making the spine less flexible and can haunch it in a forward position. In case it affects the rib cage, the patient can have an issue with breathing deeply. The condition effects more men as compared to women. Symptoms and signs associated with condition usually initiates in adulthood. Inflammation associated with the condition may also occur in other parts of the body like eyes. Early signs associated with condition may include stiffness and pain in the lower back and hips, particularly in the morning and after prolonged sitting. Fatigue and neck pain are also common in AS. Though there is no cure to the condition with effective medication and treatment, the symptom can be managed and controlled. Various types of medications may help in stopping or delaying spinal problems and ease the pain swelling. In regards to region, Europe, can be seen to occupy a prominent market share. The market position held by the region is attributed to high prevalence rate of the condition in this region, along with continuously expanding healthcare sector.
Key companies profiled in the report include
Merck Co., Boehringer Ingelheim, UCB, Amgen, Janssen Biotech, Inc., Johnson Johnson, Abbvie, Hetero, Zydus Cadila, and Izana Bioscience.
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Ankylosing Spondylitis Drugs market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Ankylosing Spondylitis Drugs Market Segmentation based on Types:
Drug Type Outlook (Revenue, USD Billion; 2018-2028)
- Nonsteroidal Anti-Inflammatory Drugs
- Anti-Inflammatory Drugs
- Immunosuppressive Drugs
- TNF blockers
- JAK Inhibitors
- Steroids
- Biologics
- Others
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Parenteral
- Oral
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals Pharmacy
- Retail Pharmacy
- Online Pharmacy
Application Outlook (Revenue, USD Billion; 2018-2028)
- Adults
- Juveniles
Further key findings from the report suggest
- The Ankylosing Spondylitis Drugs market held a market value of USD 5.60 Billion in the year 2018 that is forecasted to grow at a rate of 5.1% during the forecast period.
- In context to Drug Type, the Nonsteroidal Anti-Inflammatory Drugs segment generated the highest revenue of USD 2.58 Billion in 2018, with a CAGR of 5.3% during the forecast period. Its effectiveness in minimizing inflammation, which is a major impact of the diseases and the main goal of the care services, results in a high demand for Nonsteroidal Anti-Inflammatory Drugs among care providers that contributes to the revenue generated by this segment.
- In context to Route of Administration, the Parenteral segment is projected to witness a faster growth rate of 4.3% during the forecast period, which is expected to occupy 35.0% of the market by 2027. The growth rate witnessed by the segment is attributed to the presence of strong pipeline products and continuous development in biologics that are needed to be administered in this way. The fact that medications, when administered in the form of injectable, works the specific problem area and given prompt result, have resulted in its growing popularity care providers.
- In context to Distribution Channel, the Online Pharmacy segment is projected to witness the fastest growth rate of 5.8% during the forecast period, which is expected to occupy 26.5% by 2027. The growth of online medicine shops, rising trend of online purchase of medicine due to benefits like comfort, convenience, and various offers in these shops contributes to the growth rate witnessed by this segment.
- In regards to Application, the Adults segment generated a higher revenue of USD 4.09 Billion in 2018, with a CAGR of 5.5% during the forecast period. The fact that the signs associated with the condition usually initiates in adulthood and appears prior to the age of 45 results in higher application of these medications among adults.
- In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 5.7% during the forecast, which is expected to hold 0% of the market by 2027. The growth rate witnessed by the region is resultant of the expansion of the health care sector, and increasing focus on RD activities, which is supporting the market growth in this region.
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