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(Health-NewsWire.Net, November 01, 2021 )
Market Overview
Ankylosing spondylitis is a systemic inflammatory disease that primarily affects the spine. In ankylosing spondylitis, the joints, ligaments, and spine become inflamed. The inflammation leads to pain and stiffness in the lower back of the body and progresses into the upper spine, neck, and chest.
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Market Dynamics
The global ankylosing spondylitis drugs market growth is driven by the introduction of novel products and the entry of biosimilars, increasing prevalence of the disease, raising awareness about diagnostics and treatments for the disease. In addition, government initiatives and improving healthcare infrastructure.
The introduction of novel products and the entry of biosimilars coupled with the increasing prevalence of the disease is expected to drive market growth
Ankylosing spondylitis, a chronic inflammatory disease that affects the spine. It is a type of arthritis in which spine bones grow or fuse, causing the spine to become rigid. According to a study published in Oxford University Press, the number of cases in Europe was 1.30 to 1.56 million and 4.63 to 4.98 million in the Asia Pacific.
The commercialization of novel products and increasing collaborations between companies are expected to accelerate market growth. For instance, in August 2019, Eli Lilly and Company received U.S. FDA approval for its product, Taltz injection 80 mg/mL, to treat active ankylosing spondylitis. Before this approval, the product was approved for active psoriatic arthritis and moderate to severe plaque psoriasis in March 2016 and December 2017, respectively.
Moreover, in September 2018, Gilead Sciences, Inc. and Galapagos NV co-developed a product, Filgotinib, which has completed a phase 2 clinical trial to indicate moderately to severely active ankylosing spondylitis.
Moreover, the patent cliff has led to the entry of biosimilars into the market. These may improve patient access and contribute to market growth. For instance, in November 2019, the U.S. FDA approved Humiras biosimilar, Abrilada, to treat certain indications, including ankylosing spondylitis.
Market Segmentation
Global Ankylosing Spondylitis Drugs Market By Drug Class
Non-steroidal anti-inflammatory drugs
Disease-modifying antirheumatic drugs
Tumor necrosis factor (TNF) blocker
Interleukin-17 (IL-17) inhibitor
Others
Global Ankylosing Spondylitis Drugs Market By Route of Administration
Oral
Parenteral
Global Ankylosing Spondylitis Drugs Market By Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others
Global Ankylosing Spondylitis Drugs Market - By Region
North America
Europe
Asia-Pacific
Middle East & Africa
South America
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Competitive Landscape
The global ankylosing spondylitis drugs market is highly competitive with the presence of local as well as global companies. Some of the key players contributing to the market's growth 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.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the software as a medical device globally. For instance, in May 2019, Abbvie Inc. announced the patent extension of its blockbuster drug, Humira, till 2023 in U.S. after the settlement with Boehringer Ingelheim International GmbH. This deal with Boehringer enabled the company to maintain a monopoly in U.S.
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DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
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