Ankylosing Spondylitis Drugs Market Size, Share, Industry, Forecast and outlook (2024-2031)

Ankylosing Spondylitis Drugs Market Overview:

Global Ankylosing Spondylitis Drugs Market Poised for High Growth with a Strong CAGR during 2024-2031

The worldwide Ankylosing Spondylitis Drugs Market is anticipated to experience substantial growth, marked by a high Compound Annual Growth Rate (CAGR) throughout the forecast period from 2024 to 2031.

Ankylosing spondylitis, a systemic inflammatory disease predominantly affecting the spine, induces inflammation in joints, ligaments, and the spine, resulting in pain and stiffness in the lower back that can progress to the upper spine, neck, and chest.

Market Scope and Metrics

Details

Market CAGR: High
Segments Covered: By Drug Class, By Route of Administration, By Distribution Channel, and By Region
Report Insights Covered: Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other Key Insights
Fastest Growing Region: Asia Pacific
Largest Market Share: North America

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Market Dynamics

The global growth of the Ankylosing Spondylitis Drugs Market is propelled by the introduction of novel products and biosimilars, a surge in disease prevalence, increased awareness of diagnostic and treatment options, government initiatives, and enhancements in healthcare infrastructure.

Chronic inflammatory ankylosing spondylitis, impacting spine bones and causing rigidity, affects millions globally. Novel product commercialization and collaborations, such as Eli Lilly and Company's FDA-approved Taltz for active ankylosing spondylitis, are anticipated to spur market growth. Gilead Sciences, Inc., and Galapagos NV's co-developed Filgotinib also completed a phase 2 clinical trial for moderately to severely active ankylosing spondylitis.

However, the entry of biosimilars due to the patent cliff may improve patient access but could pose a challenge. Notably, the U.S. FDA approved Humira's biosimilar, Abrilada, for ankylosing spondylitis indications in November 2019.

The market growth is hindered by the high cost of treatment, as evidenced by Novartis Pharmaceuticals Corporation's research into direct medical costs associated with ankylosing spondylitis. The expenses are largely attributed to increased medical outpatient services and outpatient pharmacy costs.

COVID-19 Impact Analysis

The COVID-19 pandemic disrupted the ankylosing spondylitis market through clinical study interruptions, elective procedure cancellations, and supply chain disturbances. Challenges faced by drug suppliers included travel restrictions, business closures, stay-at-home protocols, and employee illnesses or quarantines. The market felt the short-term negative impact due to postponed elective surgeries, particularly orthopedic procedures.

Segment Analysis

The Cosentyx (Secukinumab) segment is projected to dominate the market, being the fastest-growing segment. Cosentyx, an IL-17 inhibitor, gained FDA approval in 2016 and is considered safer and more effective than NSAIDs. Novartis plans to submit a label update application to the U.S. FDA for non-radiographic axial spondylarthritis, expecting significant growth.

Geographical Share

North America leads the global ankylosing spondylitis drugs market, holding the largest market share. The U.S. and Canada's high disease prevalence, commercial sales of branded drugs, and increasing product approvals contribute to this dominance. Initiatives like the collaboration between Novartis AG and TrialSpark aim to boost patient access to clinical trials, supporting market growth.

Companies and Competitive Landscape

The global ankylosing spondylitis drugs market witnesses fierce competition among local and global players. Key contributors include AbbVie, Inc., Amgen, Inc., Pfizer, Inc., Novartis AG, Eli Lilly and Company, UCB, S.A, Johnson & Johnson Services, Inc, Merck & Co., Inc, Regeneron Pharmaceuticals, and Bristol-Myers Squibb Company. Major players employ growth strategies such as product launches, acquisitions, and collaborations. AbbVie Inc.'s patent extension for Humira till 2023 in the U.S. following a settlement with Boehringer Ingelheim International GmbH demonstrates the dynamic landscape.

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