Rockville, MD, Dec. 10, 2024 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global peripheral spondyloarthritis market is estimated to reach a valuation of US$ 2,704.0 million in 2024 and is expected to grow at a CAGR of 6.8% during the forecast period of (2024 to 2034).
Biologic and targeted therapies have transformed the treatment of peripheral spondyloarthritis and are the main drivers of market expansion. TNF inhibitors, which operate on fundamental inflammatory pathways to reduce joint pain and stiffness and slow the progression of illness, have significantly improved patient outcomes. These medications include etanercept and infliximab, among others. The success of these medications has spurred additional development, such as the approval of ixekizumab and secukinumab, IL-17 inhibitors, which provide patients who are resistant to conventional biologics an additional mode of action.
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JAK inhibitors are part of the more recent family of targeted medicines, which broadens the range even more. For patients who choose non-injectable therapy, these oral medications provide a very good substitute, and their ability to modulate several inflammatory pathways enhances their effectiveness. Adoption is significantly influenced by the rising success rate of clinical trials, regulatory approvals, and empirical data demonstrating the long-term advantages of biologics and JAK inhibitors. Because of their efficacy, these biologic medicines are becoming more and more in demand, helped by improved access to healthcare in emerging markets and payment schemes in industrialized countries. The availability of biosimilars for the treatment of peripheral spondyloarthritis should continue to grow as their cost continues to decline.
Key Takeaways from Market Study
- The global peripheral spondyloarthritis market is projected to grow at 8% CAGR and reach US$ 5,220.7 million by 2034
- The market created an absolute $ opportunity of US$ 2,516.6 million growing at a CAGR of 8% between 2024 to 2034
- North America is a prominent region that is estimated to hold a market share of 3% in 2034
- Predominating market players include AbbVie, Novartis, Pfizer, UCB Pharma, Janssen Biotech, Amgen, Bristol-Myers Squibb, and Eli Lilly among others.
- Demand disease-modifying antirheumatic drugs (DMARDs) is expected to see rapid growth in peripheral spondyloarthritis market with an absolute dollar opportunity of US$ 1,068.0 million.
- North America and Western Europe are expected to create an absolute $ opportunity of US$ 1,628.8 million
“The proven efficacy of disease-modifying antirheumatic drugs (DMARDs) leads to its highest growth in peripheral spondyloarthritis market” says a Fact.MR analyst.
DMARDs such as low-dose methotrexate, sulfasalazine are being employed conventionally in the management of this disease, however biologic DMARDs including TNF inhibitors and IL-17 inhibitors are also getting attraction because of their effectiveness in controlling inflammation and halting further joint degradation. This shows that the tendencies towards usage of biologic DMARDs are actively rising as they guarantee accrued therapeutic impact and lesser side effects compared with conventional DMARDs. New developments in oral preparations including JAK inhibitors have made the topical DMARDs more attractive through introduction of non-invasive and easily administrating DMARDs. Growing knowledge base of healthcare practitioners & patients on long-term advantages of early use of DMARDs result in increased usage of DMARD drugs.
This has been even more boosted with changes in healthcare accessibility, reimbursement policies as well as advanced clinical development on DMARD therapy hence making the segment one of the most important in the market.
- In July 2022, European commission approved Abbvie’s RINVOQ® (upadacitinib) as an oral treatment for adults with active non-radiographic axial spondyloarthritis.
Leading Players Driving Innovation in the Peripheral Spondyloarthritis Market:
Key industry participants like AbbVie; Novartis; Pfizer; UCB Pharma; Janssen Biotech; Amgen; Bristol-Myers Squibb; Eli Lilly etc. are driving the peripheral spondyloarthritis industry.
Peripheral Spondyloarthritis Market Industry News:
- For the treatment of adults with active psoriatic arthritis (PsA), adults with active non-radiographic axial spondyloarthritis (nr-axSpA) exhibiting objective symptoms of inflammation, and adults with active ankylosing spondylitis (AS), the USFDA authorized UCB's BIMZELX® (bimekizumab-bkzx) in September 2024. It is the first approved medication for all three indications and is intended to specifically block interleukin 17A (IL-17A) and interleukin 17F (IL-17F), two important cytokines that drive inflammatory processes.
- Janssen Pharmaceuticals, Inc. published additional results from three clinical trials in November 2023 that confirmed TREMFYA's proven effectiveness in important psoriatic domains for both bio-naïve and TNFi-experienced individuals. Adults with active PsA can now be treated with TREMFYA, the first and only fully human selective interleukin (IL)-23p19-subunit inhibitor medication.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Peripheral spondyloarthritis market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the Treatment Type - Disease-modifying antirheumatic Drugs (DMARDs); Non-steroidal Anti-inflammatory Drugs (NSAIDs); Corticosteroids; and Janus kinase (JAK) Inhibitors, Type of Disease - Psoriatic Arthritis; Reactive Arthritis; Enteropathic Arthritis; and Undifferentiated Peripheral Spondyloarthritis, End User - Hospitals & Clinics; Homecare Settings; and Outpatient Centers across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
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