Axial Spondyloarthritis Market Study Combine With Challenges and Opportunities up to 2032

Global Axial Spondyloarthritis Market Expected to Reach USD 4.95 Billion by 2028

The global market for axial spondyloarthritis is poised for substantial growth, driven by extensive research and development efforts by key market players in the quest for innovative therapeutics. Additionally, increasing awareness of the disease among the public is expected to propel market expansion in the coming years.

In 2021, the global axial spondyloarthritis market was valued at USD 1,910.7 million. It is projected to reach USD 4,953.6 million by 2028, growing at a CAGR of 14.8% during the forecast period from 2022 to 2028. The implementation of digital technologies in the healthcare industry is anticipated to contribute significantly to market expansion. The rise in research and development activities by major market players for novel therapeutics and the growing public awareness of the disease are key factors driving market growth.

Download Free Sample of This Strategic Report: https://reportocean.com/industry-verticals/sample-request?report_id=MR536

Rise in Research and Development and Increasing Public Awareness Drive Market Growth

Major biotechnology companies' focus on research and development activities is a key driver for the growth of the axial spondyloarthritis (axSpA) market. These companies are actively developing innovative therapeutics, such as anti-janus kinase therapy, anti-interleukin therapy, and anti-tumor necrosis factor therapy, which have a substantial impact on the market. The introduction of tumor necrosis factor inhibitors and interleukin 17 inhibitors has ushered in a new era of drug therapy. Furthermore, the increasing number of approved biosimilars is expected to boost the Axial Spondyloarthritis (axSpA) market during the forecast period.

Moreover, there is a growing awareness of axial spondyloarthritis among the general public, particularly among the elderly population. This awareness encompasses disease symptoms, prevention measures, and early diagnosis. Government-led healthcare campaigns also contribute to public awareness. Increased public awareness leads to a higher demand for drugs used in the treatment of axial spondyloarthritis, further driving market growth. The rising prevalence of Axial Spondyloarthritis (axSpA) is expected to fuel market expansion.

Sample of This Strategic Report: https://reportocean.com/industry-verticals/sample-request?report_id=MR536

Global Axial Spondyloarthritis Market: Potential Pipeline Products

The global axial spondyloarthritis market, based on potential pipeline products, can be segmented into anti-janus kinase therapy (JAK), anti-interleukin (IL)-17 therapy, and others. Among these segments, anti-interleukin 17 therapy dominated the global axial spondyloarthritis market in terms of potential pipeline products in 2021. Other options include anti-Granulocyte/macrophage colony-stimulating factor (GM-CSF) and anti-phosphodiesterase 4 (PDE4) therapy. Secukinumab (Cosentyx), Novartis' first-to-market IL-17A inhibitor, is expected to gain significant acceptance and expansion due to a growing body of solid long-term evidence. Additionally, the adoption of Ixekizumab (Taltz), an IL-17A inhibitor developed by Eli Lilly, is expected to contribute to market growth during the forecast period.

Asia-Pacific Region Poised for Highest CAGR in Global Axial Spondyloarthritis Market

In terms of regional analysis, the Asia-Pacific region is expected to be the fastest-growing market for axial spondyloarthritis globally. This can be attributed to its large population, particularly the growing elderly population. The Asia-Pacific region houses 60% of the world's population, accounting for approximately 4.3 billion people, and includes highly populous countries such as China and India, according to UNFPA. Furthermore

Table of Content:

1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation

Request full Report- https://reportocean.com/industry-verticals/sample-request?report_id=MR536

About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.

Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES
Tel:+1 888 212 3539 (US - TOLL FREE)
Website:https://www.reportocean.com

This release was published on openPR.