Axial spondyloarthritis (axSpA) refers to a group of chronic inflammatory diseases that mainly affect the sacroiliac joints and spine. Symptoms of axSpA include Chronic back pain and stiffness, especially in the lower back and pelvis. It can cause inflammation and new bone growth in the spine and sacroiliac joints. Treatment options include medications such as NSAIDs, disease-modifying antirheumatic drugs (DMARDs), and biologics. If left untreated, it can significantly impair quality of life.
The Global Axial Spondyloarthritis (axSpA) Market is estimated to be valued at US$ 6.02 Billion in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024-2031. Key Takeaways Key players operating in the Axial Spondyloarthritis (axSpA) Treatment are AbbVie Inc.,Novartis AG,Pfizer Inc.,UCB Pharma,Eli Lilly and Company. These players are focusing on developing new drug formulations and enhancing their product portfolio to consolidate their market position. The increasing research on developing novel biologics and effective therapies are fueling innovation and present lucrative opportunities in the market. Further, supportive government initiatives for rare disease treatment are also boosting the market growth. The rising global prevalence of spondyloarthritis has encouraged market players to expand their geographic footprint in high-growth emerging markets. Increasing healthcare expenditure, awareness regarding disease treatment and developing medical infrastructure in emerging nations will drive the global axSpA treatment demand over the forecast period. Market Drivers Increasing prevalence of spondyloarthritis across the globe has emerged as a key market driver. According to research estimates, global prevalence of spondyloarthritis ranges between 0.2-1.4% of the population. Early diagnosis and improved treatment options have further boosted the market on global level. Growing patient awareness regarding disease symptoms and available treatment options has also augmented the market growth.
PEST Analysis Political: Patent expiration of blockbuster biologic drugs and biosimilars entry approves favorable government support for research activities. Economic: Rising healthcare expenditures and economic burden due to loss of work hours drives the growth. Social: Increasing awareness about early diagnosis and treatment leads to social acceptance of novel treatment options. Technological: Advancements in biologics, small molecules and pipeline assets strengthen the safety and efficacy profiles to address unmet needs. Geographical Regions North America holds the highest market share in terms of value due to supportive reimbursement policies, concentration of key pharma companies and availability of biologics. The United States contributes majority of the North American market value. Fastest growing region Asia Pacific exhibits fastest CAGR during the forecast period owing to rapidly increasing patient pool, rising healthcare spending, improving accessibility and affordability of novel therapeutics. Emerging economies like China and India offer lucrative opportunities for market players.
What Are The Key Data Covered In This Axial Spondyloarthritis (axSpA) Treatment Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Axial Spondyloarthritis (axSpA) Treatment 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Axial Spondyloarthritis (axSpA) Treatment and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Axial Spondyloarthritis (axSpA) Treatment Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Axial Spondyloarthritis (axSpA) Treatment vendors
Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
*Note: 1. Source: Coherent Market Insights, Public sources, Desk research 2. We have leveraged AI tools to mine information and compile it
Non-radiographic axial spondyloarthritis market is a type of inflammatory arthritis, a hetrogenous group of autoimmune disorders that causes pain in lower back.
The non-radiographic means that the symptoms or inflammation will not visible on x-ray (radiograph) but can show on MRI (magnetic resonance imaging) scan however it can negative too and axial spondyloarthritis means arthritis affect mainly on the spine.
The patients with non- radiographic axial spondyloarthritis experience the severe back pain.According to the statistics puplished in the UCB S.A., an estimated adult population of non-radiographic axial spondyloarthritis is up to 0.5% to 1.4%.
Growing incidence of non-radiographic axial spondyloarthritis, accelerating demand of novel therapies and treatment are the key drivers for market growthThis Non-Radiographic Axial Spondyloarthritis Therapeutics Market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects of Cardinal Health industry.
The report also recognizes and analyses the rising trends along with major drivers, challenges and opportunities in the market.
This Non-Radiographic Axial Spondyloarthritis Therapeutics Market report provides major statistics on the market status of global and regional manufacturers and is a helpful source of assistance and direction for companies and individuals interested in Healthcare industry.
