Ankylosing Spondylitis Market to Surpass US$ 8,460.7 Million by 2028

Global Ankylosing Spondylitis Market, by Drug Type (Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Disease-modifying Anti-rheumatic Drugs (DMARDs), TNF Inhibitors, Corticosteroids, and Others), by Route of Administration (Oral and Parentral), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 4,864.3 Mn in 2021 and is expected to exhibit a CAGR of 8.2% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.

The increasing regulatory approvals for ankylosing spondylitis drugs is expected to propel growth of the global ankylosing spondylitis market over the forecast period. For instance, in October 2021, the U.S. Food and Drug Administration approved the first interchangeable biosimilar product, Cyltezo by Boehringer Ingelheim, a pharmaceutical company headquartered in Germany, to treat certain inflammatory diseases such as ankylosing spondylitis, active psoriatic arthritis, and others. In August 2017, cyltezo (adalimumab-adbm), was approved by U.S. Food and Drug Administration (FDA) for treating a number of chronic inflammatory diseases. It is the first monoclonal antibody that has been granted ‘interchangeable’ status for multiple indications including ankylosing spondylitis and others. Cyltezo is interchangeable with as well as biosimilar to its reference product, Humira (adalimumab), which is the second interchangeable biosimilar product that has been approved by the agency. Cyltezo is the first interchangeable monoclonal antibody.

Global Ankylosing Spondylitis Market – Impact of Coronavirus (COVID-19) Pandemic

Patients with ankylosing spondylitis are generally prescribed immunosuppressants to manage their symptoms.  These medications suppress the immune system, and hence such patients are at a higher risk of acquiring infections, including COVID-19. This may hamper the ankylosing spondylitis market, as people might stop taking immunosuppressants, due to the fear of being contacted by the infection.

Moreover, various clinical trials have been paused as researchers are facing multiple challenges in visiting places and carrying out clinical trials effectively. For instance, according to a survey conducted on April 23, 2020, by Medidata Solutions, Inc., a U.S. based technology company (which develops and markets software as a service for clinical trials, 63% of survey respondents reported that they stopped recruiting new patients for ongoing clinical trials and 43% of the respondents have postponed their studies.

Even though regulatory agencies, such as European Medicines Evaluation Agency (EMEA) and the U.S. Food and Drug Administration (FDA), have promoted measures and guidelines for maintaining the integrity of the trials that attempt to guarantee the safety, rights, and wellbeing of patients as well as healthcare staff during this COVID-19 pandemic, finding it challenging to carry on clinical trials and keeping them on track.

Browse 35 Market Data Tables and 39 Figures spread through 190 Pages and in-depth TOC on “Global Ankylosing Spondylitis Market”-  Forecast to 2028, Global Ankylosing Spondylitis Market, by Drug Type (Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Disease-modifying Anti-rheumatic Drugs (DMARDs), TNF Inhibitors, Corticosteroids, and Others), by Route of Administration (Oral and Parentral), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the Global Ankylosing Spondylitis Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/ankylosing-spondylilitis-market-4833

Moreover, regulatory approvals for ankylosing spondylitis are expected to drive growth of the global ankylosing spondylitis market over the forecast period. For instance, in January 2021, AbbVie, an American biopharmaceutical company, announced the approval of RINVOQTM (upadacitinib, 15 mg) by the European Commission (EC). RINVOQTM (upadacitinib, 15 mg) is approved for oral administration, once in a day. It is a selective and reversible JAK inhibitor used for the treatment of active ankylosing spondylitis (AS) in adult patients who have not shown adequate results with the conventional therapy. The approval by the agency was supported by the data from the three pivotal clinical trials, demonstrating RINVOQ's efficacy for the disease.

Key Takeaways of the Global Ankylosing Spondylitis Market:

• The global ankylosing spondylitis market is expected to exhibit a CAGR of 8.2% during the forecast period due to increasing product launches and approvals by the regulatory bodies, which are expected to boost the growth of the global ankylosing spondylitis market. For instance, in August 2019, Eli Lilly and Company, an American pharmaceutical company, announced the approval of Taltz (ixekizumab) by the U.S. Food and Drug Administration (FDA). Taltz (ixekizumab) is used for treating active ankylosing spondylitis (radiographic axial spondyloarthritis). Ixekizumab is an IL-17 inhibitor. It is approved for active ankylosing spondylitis, as an injection of 80 mg/mL, strictly for adult patients with this condition. It can be administered either as monotherapy or as a combination treatment with other conventional therapies such as DMARDs or NSAIDs.
• Among drug type, NSAIDs is estimated to account for the largest market share in the global ankylosing spondylitis market in 2021. Nonsteroidal anti-inflammatory drugs (NSAIDs) are used as the first-line treatment for ankylosing spondylitis (AS) and consist of naproxen, diclofenac, indomethacin, ibuprofen, and meloxicam. Most AS patients benefit from NSAIDs and the positive outcomes far outweigh the undesirable consequences in most cases.
• On the basis of regions, North America is estimated to account for the largest market share in the global ankylosing spondylitis market in 2021, owing to the higher incidence and prevalence rate of ankylosing spondylitis, availability of improved diagnostic tools, adoption of newer treatment options for ankylosing spondylitis, and improved health care infrastructure. Moreover, owing to the presence of major key players in North America such as Johnson & Johnson Services, Inc., AbbVie Inc., and others it is estimated to account for the largest market share over the forecast period.
• Major players operating in the global ankylosing spondylitis market include Amgen Inc., AbbVie Inc., Pfizer Inc., Novartis AG, Bristol-Myers Squibb Company, CELGENE CORPORATION, Eli Lilly and Company, Cipla Inc., Emcure Pharmaceuticals, Torrent Pharmaceuticals Ltd., UCB S.A., Suzhou Zelgen Biopharmaceuticals Co., Ltd., HENGRUI USA, and Johnson & Johnson Services, Inc.