New York, Feb. 11, 2020 (GLOBE NEWSWIRE) — The global ankylosing spondylitis drugs market is forecast to reach USD 8.82 Billion by 2027, according to a new report by Reports and Data. Ankylosing spondylitis (AS) is a chronic condition that has no permanent cure. It can be defined as an inflammatory disease that results in some of the small bones in the spine (vertebrae) to fuse over time. The fusing of the small bones results in making the spine less flexible and can haunch it in a forward position. In case it affects the rib cage, the patient can have an issue with breathing deeply. The condition effects more men as compared to women. Symptoms and signs associated with condition usually initiates in adulthood.
Inflammation associated with the condition may also occur in other parts of the body like eyes. Early signs associated with condition may include stiffness and pain in the lower back and hips, particularly in the morning and after prolonged sitting. Fatigue and neck pain are also common in AS. Though there is no cure to the condition with effective medication and treatment, the symptom can be managed and controlled. Various types of medications may help in stopping or delaying spinal problems and ease the pain & swelling. In regards to region, Europe, can be seen to occupy a prominent market share. The market position held by the region is attributed to high prevalence rate of the condition in this region, along with continuously expanding healthcare sector.
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Further key findings from the report suggest
- The Ankylosing Spondylitis Drugs market held a market value of USD 5.60 Billion in the year 2018 that is forecasted to grow at a rate of 5.1% during the forecast period.
- In context to Drug Type, the Nonsteroidal Anti-Inflammatory Drugs segment generated the highest revenue of USD 2.58 Billion in 2018, with a CAGR of 5.3% during the forecast period. Its effectiveness in minimizing inflammation, which is a major impact of the diseases and the main goal of the care services, results in a high demand for Nonsteroidal Anti-Inflammatory Drugs among care providers that contributes to the revenue generated by this segment.
- In context to Route of Administration, the Parenteral segment is projected to witness a faster growth rate of 4.3% during the forecast period, which is expected to occupy 35.0% of the market by 2027. The growth rate witnessed by the segment is attributed to the presence of strong pipeline products and continuous development in biologics that are needed to be administered in this way. The fact that medications, when administered in the form of injectable, works the specific problem area and given prompt result, have resulted in its growing popularity care providers.
- In context to Distribution Channel, the Online Pharmacy segment is projected to witness the fastest growth rate of 5.8% during the forecast period, which is expected to occupy 26.5% by 2027. The growth of online medicine shops, rising trend of online purchase of medicine due to benefits like comfort, convenience, and various offers in these shops contributes to the growth rate witnessed by this segment.
- In regards to Application, the Adults segment generated a higher revenue of USD 4.09 Billion in 2018, with a CAGR of 5.5% during the forecast period. The fact that the signs associated with the condition usually initiates in adulthood and appears prior to the age of 45 results in higher application of these medications among adults.
- In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 5.7% during the forecast, which is expected to hold 0% of the market by 2027. The growth rate witnessed by the region is resultant of the expansion of the health care sector, and increasing focus on R&D activities, which is supporting the market growth in this region.
- Key participants include Merck & Co., Boehringer Ingelheim, UCB, Amgen, Janssen Biotech, Inc., Johnson & Johnson, Abbvie, Hetero, Zydus Cadila, and Izana Bioscience.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented the global Ankylosing Spondylitis Drugs market, according to Drug Type, Route of Administration, Distribution Channel, Application and Region:
Drug Type Outlook (Revenue, USD Billion; 2016-2027)
- Nonsteroidal Anti-Inflammatory Drugs
- Anti-Inflammatory Drugs
- Immunosuppressive Drugs
- TNF blockers
- JAK Inhibitors
- Steroids
- Biologics
- Others
Route of Administration Outlook (Revenue, USD Billion; 2016-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2016-2027)
- Hospitals Pharmacy
- Retail Pharmacy
- Online Pharmacy
Application Outlook (Revenue, USD Billion; 2016-2027)
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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