Market Dynamics In 2021, the global market for axial spondylarthritis treatment exhibited significant strength and is anticipated to sustain a rapid revenue compound annual growth rate (CAGR) throughout the forecast period. The escalating prevalence of axial spondylarthritis among males in their late teens and early twenties is propelling the market's revenue expansion. Additionally, favorable conditions for pharmaceutical producers and increased attention from various authorities aimed at improving the existing healthcare infrastructure are contributing to this growth. However, the limited treatment options and high treatment costs are impeding revenue growth in the market.
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Spondylarthritis (SpA) encompasses a group of chronic inflammatory autoimmune diseases characterized by specific clinical and genetic features. It primarily affects the joints of the spine and, in some instances, the extremities. These features include involvement of the axial skeleton (sacroiliac joints and spine), a distinct pattern of peripheral joint involvement (typically asymmetric monoarthritic or oligoarthritis primarily affecting the lower extremity joints), presence of enthesitis and dactylitis, and common extra-articular manifestations. The primary symptom experienced by most patients is lower back discomfort.
Factors Supporting Market Growth Drivers: Several factors are contributing to the revenue growth of the axial spondylarthritis market. The prevalence of axSpA in the U.S. population (0.9-1.4%) exceeds the prevalence at diagnosis (0.2-0.7%). Axial spondylarthritis, the most prevalent type of arthritis, is expected to become even more prevalent with increasing life expectancy and obesity rates. Moreover, the rising incidence of eye inflammation such as Uveitis and inflammatory back pains is driving market revenue growth. This disorder predominantly affects the male population, with males accounting for 3,970 million or 50.42% of the global population, indicating 65.51 million more men than women worldwide. These factors contribute to revenue growth in the axial spondylarthritis market.
Restraints: Patients with axial spondylarthritis often experience adverse effects from treatment regimens. The condition's pain is frequently managed with nonsteroidal anti-inflammatory drugs (NSAIDs) and corticosteroids, both over-the-counter and prescription. However, the use of NSAIDs has been associated with an increased risk of heart attacks and strokes, while corticosteroids' use was limited during the COVID-19 pandemic, as per World Health Organization guidelines advising against systemic corticosteroid use in severe acute respiratory infection cases related to Coronavirus. Additionally, patient education and physical therapy, which are primary treatments for symptomatic axial spondylarthritis, pose challenges to revenue growth in the treatment market. Furthermore, the high cost of treatment is expected to impede market revenue growth.
Opportunities: Increased research and development activities in pharmaceuticals for the symptomatic treatment of axial spondylarthritis are driving market revenue growth. Several innovative medications are currently under investigation for their potential to treat axSpA, including monoclonal antibodies targeting interleukin-17, interleukin-12/23, and inhibitors of phosphodiesterase-4 and kinases. The market is expected to expand further due to increased institutional initiatives to collaborate with major businesses for axial spondylarthritis research, such as the Axial SpA (AS) eLearning lesson sponsored by NASS in collaboration with the British Society for Spondylarthritis on the Royal College of General Practitioners website, focusing on management and diagnostics.
Geographic Market Scenario: Largest Market Share: North America is projected to capture the largest revenue share over the forecast period. This growth is attributed to the introduction of new treatment options in the region, increased healthcare expenditures, availability of treatment choices, and rising disease awareness.
Fastest Growing Region: Asia Pacific is anticipated to register a significant revenue CAGR over the forecast period, driven by a substantial increase in the geriatric population in countries like China and India, along with the presence of generic manufacturers and expansion of healthcare facilities.
Key Market Trends and Innovations: Ongoing studies and trials, such as the Double-Blind, Multicenter, International, Randomized Placebo-Controlled Study testing the Efficacy, Safety, Pharmacokinetics, and Pharmacodynamics of BCD-180 in Patients with Axial Spondyloarthritis, and the assessment of the preliminary efficacy, safety, pharmacokinetics, and immunogenicity of GR1501 injection (IL-17A antibody) in a phase II clinical trial, indicate promising advancements in treatment options.
Competitive Landscape: Companies in the market, including Johnson & Johnson Private Limited, Pfizer, Abbott Laboratories, Teva Pharmaceuticals, and others, are adopting both organic and inorganic strategies to strengthen their market presence.
What Our Report Provides and Why Our Offering Is Better: Our report offers historical data points, forecasts, and revenue growth at a global, regional, and country level, providing in-depth analysis, industry trends, consumption patterns, competitive landscape, and impact analysis. It also includes industry insights and competitive landscape, company financials, and impact analysis.
End-use Outlook, Distribution Channel Outlook, Disease Type Outlook, Route of Administration Outlook, Drug Type Outlook, Treatment Outlook, Dosage Form Outlook, and Regional Outlook provide comprehensive insights into various aspects of the market, facilitating informed decision-making.
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