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Axial Spondyloarthritis (AxSpA) Market Forecast 2023-2032 - Size, Lucrative Segments And Leading Regions
Axial Spondyloarthritis (AxSpA) Market
The Business Research Company's Axial Spondyloarthritis (AxSpA) Global Market Report 2023 identifies increasing prevalence of spondyloarthritis as the major driver for the Axial Spondyloarthritis (AxSpA) market's growth in the forecast period. Spondyloarthritis is a chronic illness that typically affects the axial skeleton, including the spine and sacroiliac joints. The rising cases of spondyloarthritis (axSpA) can be associated with the increasing aging population and spine injuries from even minor falls or other accidents.
The global axial spondyloarthritis (axSpA) market is expected to grow from $5.07 billion in 2022 to $5.54 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The axial spondyloarthritis (axSpA) market is expected to reach $7.55 billion in 2027 at a CAGR of 8.1%.
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Major competitors in the Axial Spondyloarthritis (AxSpA) market are Johnson and Johnson Private Limited, Pfizer Inc., F. Hoffmann-La Roche AG, Merck and Co. Inc., AbbVie Inc., Novartis AG, Sanofi S.A.
A key trend in the Axial Spondyloarthritis (AxSpA) market includes product innovations. Major companies operating in the axial spondyloarthritis (axSpA) market are developing new drugs to sustain their position in the market. For instance, in June 2023, UCB SA, a Belgium-based pharmaceutical company, received approval from the New European Commission for the marketing authorization of BIMZELX (bimekizumab). This medication is used to treat adults with active axial spondyloarthritis (axSpA), non-radiographic axial spondyloarthritis (nr-axSpA), and ankylosing spondylitis (AS) with objective signs of inflammation as indicated by elevated C-reactive protein.
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The Axial Spondyloarthritis (AxSpA) market is segmented -
• By Types: Ankylosing spondylitis (AS), Non-radiographic axial spondyloarthritis (nr-axSpA)
• By Commercialized Therapies: Anti-tumor Necrosis Factor Therapy (TNF), Anti-Interleukin Therapy (IL), Anti-Janus Kinase Therapy (JAK)
• By Dosage Form: Tablets, Injections
• By Treatment: Tumor necrosis factor (TNF) Alpha Inhibitors, Non-steroidal anti-inflammatory drugs (NSAID), Conventional Disease Modifying Anti-Rheumatic Drugs, Glucocorticoids, Interleukin Blockers
• By End-Use: Hospital Pharmacies, Retailer Pharmacies, Online Pharmacy Stores
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Axial Spondyloarthritis (AxSpA) market.
The Business Research Company's "Global Axial Spondyloarthritis (AxSpA) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Axial Spondyloarthritis (AxSpA) Market Include:
1. Executive Summary
2. Axial Spondyloarthritis (axSpA) Market Characteristics
3. Axial Spondyloarthritis (axSpA) Market Trends And Strategies
4. Axial Spondyloarthritis (axSpA) Market - Macro Economic Scenario
5. Global Axial Spondyloarthritis (axSpA) Market Size and Growth
………………………………………………………………………….
32. Global Axial Spondyloarthritis (axSpA) Market Competitive Benchmarking
33. Global Axial Spondyloarthritis (axSpA) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Axial Spondyloarthritis (axSpA) Market
35. Axial Spondyloarthritis (axSpA) Market Future Outlook and Potential Analysis
36. Appendix
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