Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global ankylosing spondylitis market size was valued at USD 4.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2020 to 2027.
According to a report, “Ankylosing Spondylitis Market Size, Share & Trends Analysis Report By Drug (Cosentyx, Humira, Simponi, Remicade, Enbrel, Cimzia), By Region (North America, APAC, Europe, MEA), And Segment Forecasts, 2020 – 2027”, published by Grand View Research, Inc, The globalankylosing spondylitis marketsize is expected to reach USD 7.9 billion by 2027 registering a CAGR of 8.3%, according to a new report by Grand View Research, Inc. Presence of a strong product pipeline is likely to accelerate market growth. For instance, the positive phase-2b results of UCB S.A. pipeline product, Bimekizumab, makes it a potential drug candidate to be launched in the market over the forecast period.
Pharmaceutical companies are aiming at label expansion and patent extension for maintaining their share in the market. In October 2017, Johnson & Johnson Services received approval for Simponi Aria for AS treatment for the treatment active psoriatic arthritis (PsA) or active ankylosing spondylitis (AS). Such advancements in therapy area are expected to have a positive effect on the market growth.
Furthermore, presence of favorable reimbursem*nt policies is anticipated to propel the growth. For instance, in Canada (Ontario) under the province’s public drug program, Novartis AG announced the reimbursem*nt of Cosentyx for the treatment of ankylosing ankylosis. According to an article published by Novartis AG, approximately 20 to 40% of patients fail to achieve sufficient clinical improvement on anti-TNF drugs, which provides opportunities for companies to develop novel and effective drugs.
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Ankylosing Spondylitis Market Report Highlights
Humira was the largest revenue-generating drug in 2019 and accounted for over 25% of the market share due to the favorable pricing and lack ofbiosimilarcompetition in North America
Cosentyx is estimated to be the fastest-growing segment due to its excellent clinical profile. In addition, the product is patent protected for ankylosing spondylitis till 2033 in U.S. till and 2030 in Europe
North America led the market in 2019 due to the presence of key biopharmaceutical & pharmaceutical companies and increased funding and research initiatives
Key companies are adopting strategies, such as product development, M&A, and regional expansion, to increase their market share
For instance, in January 2019, Samsung Bioepis Co., Ltd. announced the strategic partnership with 3SBio Inc. to expand its product portfolio in China
Regional Insights
North America was the largest region in 2019 and accounted for over 60% of the total share owing to high disease prevalence in U.S. and Canada and commercial sales of branded drugs. Patent expiry of branded drugs has provided an opportunity for biosimilars. For instance, the patent expiry of Remicade in 2015 resulted in the introduction of Inflectra in 2016, Ixifi & Renflexis in 2017, and Avsola in 2019.
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In addition, initiatives undertaken by major players support the market growth in North America. In January 2019, Novartis AG and TrialSpark collaborated with an aim to increase patient access to clinical trials. This collaboration will shorten the enrollment timeline and help in the faster development of new therapies.
Recently, the trials were launched in various sites in New York to test a treatment for ankylosing spondylitis. Asia Pacific is projected to be the fastest-growing region owing to increasing disease incidence in developing countries like China, India, and Indonesia. Furthermore, favorable reimbursem*nt policies in China is supporting the regional market growth.
Ankylosing Spondylitis Market Segmentation
Grand View Research has segmented the global ankylosing spondylitis market based on drug and region:
Ankylosing Spondylitis Drug Outlook (Revenue, USD Million, 2016 – 2027)
Cosentyx
Humira
Simponi
Remicade
Enbrel
Cimzia
Others
Ankylosing SpondylitisRegional Outlook (Revenue, USD Million, 2016 – 2027)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Mexico
Chile
Columbia
Argentina
Middle East & Africa
South Africa
Saudi Arabia
UAE
List of Key Players of Ankylosing Spondylitis Market
AbbVie, Inc.
Amgen, Inc.
Pfizer, Inc.
Novartis AG
Eli Lilly and Company
UCB, Inc.
Johnson & Johnson Services, Inc.
Merck & Co., Inc.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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