The global axial Spondyloarthritis management market garnered a market value of USD 4.22 Billion in 2022 and is expected to accumulate a market value of USD 7.3 Billion by registering a CAGR of 5.1% in the forecast period 2023 to 2033. Growth of the axial Spondyloarthritis management market can be attributed to escalating prevalence of axSpA and the growing need for efficient treatments. The market for axial Spondyloarthritis management registered a CAGR of 3.5% in the historical period 2018 to 2022
Axial Spondyloarthritis (axSpA) Management Market refers to the market for drugs, therapies, and medical devices used for the treatment and management of Axial Spondyloarthritis. Axial Spondyloarthritis is a type of inflammatory arthritis that primarily affects the spine and sacroiliac joints, causing chronic pain and stiffness in the back and hips.
The management of Axial Spondyloarthritis includes a range of approaches, such as nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying anti-rheumatic drugs (DMARDs), biologics, and physical therapy. The market for Axial Spondyloarthritis Management is driven by the growing prevalence of the disease, rising healthcare expenditure, and increasing research and development activities by pharmaceutical companies to develop effective treatments for the condition.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 4.44 Billion |
| Anticipated Forecast Value (2033) | USD 7.3 Billion |
| Projected Growth Rate (2023 to 2033) | 5.1% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for Axial Spondyloarthritis management reflected a value of 3.5% during the historical period, 2018 to 2022.
the Axial Spondyloarthritis Management Market showed steady growth during this period. The market was primarily driven by the increasing prevalence of Axial Spondyloarthritis, which was expected to continue to rise due to factors such as changing lifestyle habits, an aging population, and genetic predisposition.
Moreover, the development and launch of new drugs and therapies for Axial Spondyloarthritis management also contributed to market growth. Biologic drugs such as tumor necrosis factor (TNF) inhibitors, Interleukin (IL)-17 inhibitors, and Janus kinase (JAK) inhibitors have shown promising results in clinical trials and have been approved for the treatment of Axial Spondyloarthritis.
Thus, the market for Axial Spondyloarthritis management is expected to register a CAGR of 5.1% in the forecast period 2023 to 2033.
Advances in technology and research along with increasing prevalence of Axial Spondyloarthritis driving market growth
The prevalence of Axial Spondyloarthritis is increasing globally, driven by factors such as changing lifestyle habits, an aging population, and genetic predisposition. As a result, the demand for effective management options for the condition is also growing, driving the growth of the Axial Spondyloarthritis Management Market.
Advances in technology and research have led to the development of new drugs and therapies for the management of Axial Spondyloarthritis. Biologic drugs, which are a newer class of drugs that target specific molecules involved in the inflammatory process, have shown promising results in clinical trials and have been approved for the treatment of Axial Spondyloarthritis.
Rising healthcare expenditure, particularly in developing countries, is driving the growth of the Axial Spondyloarthritis Management Market. Increased spending on healthcare infrastructure, research and development, and public health programs is expected to increase access to Axial Spondyloarthritis management options.
Several governments worldwide are taking initiatives to raise awareness about Axial Spondyloarthritis and its management. They are also promoting research and development activities to develop new treatments for the condition. These initiatives are expected to drive the growth of the Axial Spondyloarthritis Management Market.
Availability of treatments shaping the landscape for Axial Spondyloarthritis management market
Nonsteroidal anti-inflammatory drugs (NSAIDs): NSAIDs such as ibuprofen and naproxen can help to reduce pain and inflammation associated with Axial Spondyloarthritis.
Disease-modifying anti-rheumatic drugs (DMARDs): DMARDs such as sulfasalazine and methotrexate can help to slow down the progression of the disease by reducing inflammation and preventing joint damage.
Biologic drugs: Biologic drugs such as tumor necrosis factor (TNF) inhibitors, interleukin (IL)-17 inhibitors, and Janus kinase (JAK) inhibitors target specific molecules involved in the inflammatory process, reducing inflammation and relieving symptoms.
Physical therapy: Physical therapy can help to improve flexibility, strengthen muscles, and reduce pain and stiffness associated with Axial Spondyloarthritis.
Lifestyle changes: Lifestyle changes such as maintaining a healthy weight, quitting smoking, and getting regular exercise can also help to manage symptoms and improve overall health.
High treatment cost along with adverse effects of treatment derailing market growth
The cost of biologic drugs used in the management of Axial Spondyloarthritis is relatively high, making them less accessible to patients who cannot afford them. This can limit the market's growth and hinder the adoption of new treatments.
There is a lack of awareness about Axial Spondyloarthritis and its management among patients and healthcare professionals. This can delay diagnosis and treatment, leading to poor health outcomes. Biologic drugs used in the management of Axial Spondyloarthritis can cause adverse effects, such as infections, allergic reactions, and malignancies. This can limit the use of these drugs and affect patient outcomes.
Many of the biologic drugs used in the management of Axial Spondyloarthritis are under patent protection, limiting the availability of generic versions and leading to higher prices. As these patents expire, the market may become more competitive, affecting the profitability of companies.
Regulatory approval processes for new drugs and therapies can be lengthy and complex, leading to delays in the availability of new treatments for Axial Spondyloarthritis. Additionally, changing regulatory requirements can also affect the market's growth and profitability.
Physical therapy and lifestyle changes can be effective in managing Axial Spondyloarthritis symptoms. The availability of these alternative treatments can limit the market's growth and affect the adoption of new treatments.
Availability of effective treatment options favoring market growth of Axial Spondyloarthitis market
The North America Axial Spondyloarthritis Management Market is a significant segment of the global Axial Spondyloarthritis Management Market. It includes the United States and Canada, which are the largest markets for Axial Spondyloarthritis management in the region.
The North America Axial Spondyloarthritis Management Market is driven by several factors, including an increasing prevalence of the condition, a growing aging population, and a rising demand for effective management options. In addition, the region's advanced healthcare infrastructure, increasing healthcare expenditure, and favorable reimbursement policies are also contributing to market growth.
The market includes various treatment options, including nonsteroidal anti-inflammatory drugs (NSAIDs), disease-modifying anti-rheumatic drugs (DMARDs), and biologic drugs. Biologic drugs, which are a newer class of drugs that target specific molecules involved in the inflammatory process, are expected to drive the market's growth due to their high efficacy in managing the condition. Thus, North America is expected to possess 45% market share for Axial Spondyloarthritis management market in 2023.
Growing aging population along with favorable reimbursement policies bolstering market growth
The Europe Axial Spondyloarthritis Management Market is a significant segment of the global Axial Spondyloarthritis Management Market. It includes countries such as Germany, France, the United Kingdom, Spain, Italy, and others.
The prevalence of Axial Spondyloarthritis is increasing in Europe, which is driving the demand for effective management options. According to the European League Against Rheumatism (EULAR), the prevalence of Axial Spondyloarthritis in Europe is estimated to be between 0.2% and 1.4% of the population.
The aging population in Europe is driving the demand for effective management options for Axial Spondyloarthritis, as the condition is more common among older adults. Europe has a well-developed healthcare infrastructure, which is facilitating the diagnosis and management of Axial Spondyloarthritis.
Many European countries have favorable reimbursement policies for the management of Axial Spondyloarthritis, which is making treatment more accessible to patients. There is ongoing research and development in the field of Axial Spondyloarthritis, which is leading to the development of new treatment options and driving market growth. There are various initiatives in Europe aimed at raising awareness about Axial Spondyloarthritis among patients and healthcare professionals, which is driving early diagnosis and treatment. Thus, Europe is expected to hold 39% market share for Axial Spondyloarthritis management market in 2023.
Access to specialists and surgeons boosting dependency on hospitals for Axial Spondyloarthritis management
Hospitals can provide effective treatment for Axial Spondyloarthritis, but it depends on various factors such as the severity of the condition, the experience and expertise of the healthcare providers, and the available resources and facilities.
Patients with severe Axial Spondyloarthritis may require hospitalization for intensive treatment, such as intravenous medications or surgery, while others may receive treatment on an outpatient basis. In both cases, hospitals can provide access to specialists, such as rheumatologists or orthopedic surgeons, who have extensive training and experience in managing the condition. Thus, hospitals are expected to possess 44% market share for Axial Spondyloarthritis management market in 2023.
Key players in the axial Spondyloarthritis management market are AbbVie, Pfizer, Amgen, Janssen Biotech, Pozen, Iroko Pharmaceuticals, Syntex Pharmaceuticals, Horizon Pharma, Eli Lilly and Company, Kyowa Kirin, Celgene, Inmagene Biopharmaceuticals
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 4.44 Billion |
| Market Value in 2033 | USD 7.3 Billion |
| Growth Rate | CAGR of 5.1% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type, Drug Class, End User, Region |
| Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East & Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Rest of Latin America, Germany, United kingdom, France, Spain, Italy, Rest of Europe, India, Malaysia, Singapore, Thailand, Rest of South Asia, China, Japan, South Korea, Austria, New Zealand, GCC countries, South Africa, Israel, Rest of MEA |
| Key Companies Profiled | AbbVie; Pfizer; Amgen; Janssen Biotech; Pozen; Iroko Pharmaceuticals; Syntex Pharmaceuticals; Horizon Pharma; Eli Lilly and Company; Kyowa Kirin; Celgene; Inmagene Biopharmaceuticals |
| Customization | Available Upon Request |
The market value is estimated to be near USD 4.44 billion in 2023.
Hospitals remain the preferred choice and could have fairly 44% of the total market share in 2023.
North America market to hold 45% market share in 2023.
The market in Europe is expected to acquire 39% of the global revenue in 2023.
Expensive cost of biologic drugs is the main challenge.
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