FMI states in its recent study on the ankylosing spondylitis treatment market that the market will record a steady CAGR through 2030. Demand for Ankylosing spondylitis is anticipated to continue surging because the governments are diverting a greater portion of their revenue towards extensive research
“An increasing demand for nonsteroidal anti-inflammatory drugs through oral route of administration coupled with new product launches in this regard is likely to fuel the ankylosing spondylitis treatment market.” says the FMI analyst.
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Ankylosing spondylitis Market – Important Highlights
- “Adults” contribute to most revenue generation by age group, as ankylosing spondylitis is typically started in adulthood.
- The market is dominated by non-steroidal anti-inflammatory drugs as they are used as the first line of treatment for ankylosing spondylitis.
- Due to the ease of consumption, oral administration routes have the largest market share.
- The Hospitals Pharmacy segment is projected to have the largest market share concerning the distribution channel.
- Due to the well-established healthcare system, high incidences of ankylosing spondylitis, and developments in the pharmaceutical industry, North America, led by the US, has the largest market share.
Ankylosing spondylitis Market – Drivers
- Market Players are Focusing on R&D and Innovations which is driving the growth of the market.
- Favorable government policies and investments in the healthcare sector are anticipated to contribute to the growth of the market.
- Increasing demand for non-steroidal anti-inflammatory drugs through oral administration routes coupled with new product launches in this regard is likely to fuel the market for ankylosing spondylitis therapy
Ankylosing spondylitis Market – Restraints
- The lack of qualified surgeons and physiotherapists is hampering the growth of the market.
- High medical costs are anticipated to remain a market restraint during the forecast era.
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COVID-19 Impact on ankylosing spondylitis Market
After the outbreak of Covid-19, demand for ankylosing spondylitis has experienced a decline in demand. The pandemic has led to a decrease in the patient’s flow in the hospitals, and doctor chambers. As the attention of health care services changes to emergency COVID-19 care, treatment is de-prioritized for other illnesses and injuries. However, this is estimated to be a temporary effect and the market is expected to have a turnaround with the stabilization of the economy.
- The Ankylosing spondylitis market players are leaning towards the expansion of the production facilities besides opting for strategic collaborations to attain a competitive edge. Concerning ankylosing spondylitis, the healthcare industry is moving towards comprehensive research to proceed with the geometric progression in the number of inventions. For instance, In June 2020, Celltrion Healthcare received CHMP (Committee for Medical Drugs for Human Use) recommendations for the use of Remsima in ankylosing spondylitis.
- Some of the prominent players listed in the global Ankylosing spondylitis market are Wyeth, Mitsubishi Tanabe, Schering-Plough, Takeda, Amgen, Centocor
About the Study
The study offers readers a comprehensive assessment of the Ankylosing spondylitis market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on drug class (Nonsteroidal Anti-inflammatory Drugs, Anti-Inflammatory Drugs, Immunosuppressive Drugs, TNF Blockers, JAK Inhibitors, Steroids, Biologics, Others), application(adults, juveniles) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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