The global axial spondyloarthritis market is expected to witness high growth, attributed to the growing prevalence of axial spondyloarthritis, favorable regulatory environment, and increase in adoption of biological agents in the field of axial spondyloarthritis. The continued significant investments by the emerging and legacy companies to meet industry demand and the growing adoption of novel therapeutics by rheumatologists are the major factors propelling the growth of the global axial spondyloarthritis market.

The global 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.

There has been a rise in research and development of novel medications in the rheumatology field. The development of the classification criteria for axial spondyloarthritis (axSpA) through Assessment in Spondyloarthritis International Society (ASAS) has led to major breakthroughs in medications over the past decade. In the past three decades, progress in molecular and immunologic research has repeatedly pointed to cytokine dysregulation as a critical factor in the pathophysiology of autoimmune and autoinflammatory diseases, including axSpA.

EXPERT INSIGHT by Khalid Shirazy Rheumatologist on Axial Spondyloarthritis Market

ANALYST – How is your work related to the axial spondyloarthritis market?

KHALID – I am a rheumatologist and a physiatrist at Cairo University in Egypt for more than 15 years. I am an experienced international pharmaceutical medic with experience across multiple therapeutic areas, regions, and phases of pharmaceutical development. For more than 6 years I have been fully dedicated to inflammation & immunology therapy area [rheumatology, dermatology & gastroenterology (biologics, biosimilars & janus kinases)] during which nine publications were authored/co-authored.

ANALYST – Which are the top companies according to you?

KHALID – According to my knowledge, UCB S.A., Johnson & Johnson, Novartis, Eli Lilly and Company, Pfizer, and AbbVie are among the top players in the market that are dealing with axial spondyloarthritis novel therapies. This is different as per country/region.

ANALYST – According to you, which country has the highest market share in the global axial spondyloarthritis market, considering ranking and growth rate?

KHALID – The majority of the products are commercialized in the U.S.; therefore, according to me, the U.S. generates around 50-60% of the revenue globally. Europe takes around 30 to 35% of the total market share. Japan constitutes less% considering the low prevalence of axial spondyloarthritis in the country.

Read full Expert Insight  - https://bisresearch.com/analyst-notes/axis-spondyloarthritis-market

Dominating country in the global axial spondyloarthritis market

In 2021, the global axial spondyloarthritis market was valued at $1,873.8, which is expected to reach $7,937.8 million in 2032 by witnessing a growing CAGR of 13.44% during the forecast period, 2022-2032. The U.S. axial spondyloarthritis market was valued at $1,231.2 million in 2021 and is currently the leading contributor to the market. The growth can be attributed to the increased research and development activities in the country. The growing prevalence of axial spondyloarthritis is further leading to the dominance of the U.S. in the global axial spondyloarthritis market. Furthermore, the U.S. is home to several biopharmaceutical manufacturers that are focused on developing emerging therapeutics to improve the quality of life of axial spondyloarthritis patients. This is another factor that is expected to drive the growth of the market value.

key competitors in axial spondyloarthritis

The global axial spondyloarthritis market is dominated by juggernauts, including Novartis International AG, UCB S.A., Johnson & Johnson Services, Inc., Pfizer Inc., Eli Lilly and Company, and other medium and small-medium enterprises that are offering a wide range of axial spondyloarthritis products in the market. The following figure depicts the market share analysis of the players that are associated actively with the global axial spondyloarthritis market.

 key growth strategies in axial spondyloarthritis

The global axial spondyloarthritis market has seen major developments by key players operating in the market, such as partnership and alliance, product approval, merger and acquisition, and regulatory and legal activities. To lead the market as well as engage in the process of overall market growth, a company needs to improve the framework of the existing product, work in collaboration with top market leaders, or win new contracts from various industries and acquire other companies to strengthen its own business position.

key drivers that are accelerating growth in global axial spondylarthritis

The Assessment in Spondyloarthritis International Society (ASAS) has helped in the better disease understanding, improvements in early diagnosis, analysis of disease progression predictors, and treatment in axial spondyloarthritis (axSpA). With the increased disease understanding, there has been a rise in awareness of the axSpA disease. There are many organizations working toward increasing healthcare professionals’ and patients’ awareness concerning the disease. Therefore, the ongoing awareness campaigns will establish a strong disease understanding among the healthcare providers and patients and will further push referrals to more rheumatologists, thereby supporting more uptake of treatment options, which will eventually accelerate the growth of global axial spondyloarthritis (axSpA).

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.

Request Sample Report - https://bisresearch.com/requestsample?id=1299type=download

Key Questions Answered in the Report

• What are the major market drivers, challenges, and opportunities in the global axial spondyloarthritis market?
• What are the underlying structures resulting in the emerging trends within the global axial spondyloarthritis market?
• How has the COVID-19 pandemic impacted the global axial spondyloarthritis ecosystem?
• What are the key development strategies that are being implemented by the major players to sustain themselves in the competitive market?
• What is the pricing and reimbursement scenario in the field of axial spondyloarthritis?
• What are the potential emerging therapies present in the pipeline for axial spondyloarthritis?
• What are the key regulatory implications in major geographies pertaining to axial spondyloarthritis?
• What are the potential entry barriers which are expected to be faced by the companies willing to enter a particular country?
• How is each segment of the market expected to grow during the forecast period 2022-2032, and what is the anticipated revenue to be generated by each of the segments?
• Following are the segments:
• Commercialized Therapies
• Potential Pipeline Drugs
• Indication (ankylosing spondylitis and non-radiographic axial spondyloarthritis)
• Countries (U.S., Germany, France, the U.K., Italy, Spain, and Japan)
• What are the growth opportunities for the companies in the country of their operation?
• Who are the leading players with significant offerings in the global axial spondyloarthritis market?
• Which companies are anticipated to be highly disruptive in the future, and why?

BIS Related Studies

Global Autoimmune Disorder Drug Delivery Devices Market