Covina, Oct. 17, 2023 (GLOBE NEWSWIRE) -- Axial Spondyloarthritis affects joints in axial skeleton such as chest, pelvis and spine. Skin and nail changes of Psoriasis, longstanding low back pain, painful swelling of joints, fatigue, back pain are some symptoms of spondyloarthritis.
Increased approval of drugs by FDA (Food and Drug Administration) has become a key factor in target market growth. Further, growing prevalence of axial spondyloarthritis (AS) across globe have become another major factor in market growth. Presence of major players and growing market consolidation activities strengthen its position in market is anticipated to increase the demand for Axial Spondyloarthritis market growth.
Key Highlights:
- In December 2021, the U.S. FDA (Food and Drug Administration) approved Pfizer’s new ‘XELJANZ (tofacitinib)’ the first Janus kinase (JAK) inhibitor for treating patients with active ankylosing spondylitis (AS).
Analyst View:
Increased awareness among patients about disease and improved healthcare facilities worldwide with development of new drugs and therapies are likely to propel Axial Spondyloarthritis market growth. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
Axial Spondyloarthritis Market growth:
- Early Diagnosis and Awareness: There is a growing emphasis on early diagnosis and intervention, which has led to an increase in the recognition of axSpA. Improved awareness among healthcare professionals and the general public is driving more individuals to seek diagnosis and treatment.
- Biological Therapies: The development and use of biological therapies, such as tumor necrosis factor (TNF) inhibitors and other targeted drugs, have significantly improved the management of axSpA. These treatments help reduce inflammation and relieve symptoms, enhancing the quality of life for patients.
- Personalized Medicine: There is a trend toward personalized medicine in the treatment of axSpA, with healthcare providers increasingly tailoring treatment plans to the individual patient's needs. This approach can result in better outcomes and patient satisfaction.
- Research and Clinical Trials: Ongoing research and clinical trials focused on axSpA have led to the development of new therapies and a deeper understanding of the condition. This research is expanding the available treatment options and improving patient care.
- Patient Advocacy and Support Groups: The efforts of patient advocacy organizations and support groups have raised awareness about axSpA and its impact on patients' lives. These organizations provide resources, education, and a platform for patients to share their experiences.
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Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Market representation | Revenue in USD Billion & CAGR from 2022 to 2032 |
| Market Segmentation | By Type - Ankylosing Spondylitis, Non-radiographic Axial Spondyloarthritis By Drug Class - Glucocorticoids, Anti-Rheumatic Drugs, Non-Steroidal Anti-Inflammatory Drugs (NSAID), and Others |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
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Axial Spondyloarthritis Market future outlook:
- Biologic Therapies: The treatment landscape for axial spondyloarthritis has been evolving, with the introduction of biologic therapies. Medications like TNF inhibitors (e.g., adalimumab, infliximab) and newer biologics targeting different pathways (e.g., interleukin-17 inhibitors) have become increasingly important in managing this condition. The market for these therapies is expected to grow as more biologics receive regulatory approvals.
- Early Diagnosis and Intervention: An increasing emphasis on early diagnosis and intervention is expected to improve patient outcomes. This may lead to the development of diagnostic tools and strategies aimed at identifying the disease at an earlier stage, potentially expanding the market for diagnostic products and services.
- Biosimilars: As patents for some biologics used to treat AxSpA expire, the market may see the entry of biosimilars, which can lead to increased competition and potentially lower treatment costs.
- Patient-Centric Approaches: There is a growing trend towards patient-centric care and shared decision-making in healthcare. This may influence the market by leading to the development of patient support programs and tools for better self-management of the disease.
- Research and Development: Ongoing research into the underlying mechanisms of AxSpA and the development of new therapeutic agents are expected to continue. This could result in the introduction of novel treatment options in the future.
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