Ankylosing Spondylitis Market: $8.11Bn Growth at 4.6% CAGR by 2030

In a recent publication by Allied Market Research, a comprehensive analysis titled “Ankylosing Spondylitis Market: Global Opportunity Analysis and Industry Forecast, 2021–2030″ has been presented. This meticulously researched report delves into the dynamics of the ankylosing spondylitis market, categorizing it by Drug Class (NSAIDs, TNF Inhibitors, and Others) and Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy).

The findings reveal that the global ankylosing spondylitis industry demonstrated a valuation of $5.14 billion in 2020, with a projected growth to $8.11 billion by the year 2030. This trajectory reflects a commendable Compound Annual Growth Rate (CAGR) of 4.6% from 2021 to 2030.

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Major determinants of the market growth-

Increase in the number of hospitals and diagnostic centers, rise in prevalence of ankylosing spondylitis, and growing advancements in the ankylosing spondylitis treatment have boosted the growth of the global ankylosing spondylitis market. However, adverse effects of long-term use of drug therapy, high cost of treatment and lack of awareness hinder the market growth. On the contrary, advancements in treatment of ankylosing spondylitis are expected to open new opportunities in the future.

Covid-19 scenario –

The advent of the COVID-19 pandemic significantly reverberated across the ankylosing spondylitis market, introducing unprecedented challenges. The medical landscape during the initial and subsequent waves grappled with a surge in COVID-19 cases, overwhelming hospitals that faced the daunting task of managing and treating a substantial influx of patients within constrained capacities. This crisis prompted the unavoidable postponement of numerous surgeries, including those related to ankylosing spondylitis.

The imperative to allocate resources to address the pressing needs of COVID-19 patients led to a strategic reprioritization in healthcare services. The high risk of viral transmission within healthcare settings further necessitated the cancellation or deferral of orthopedic surgeries, as minimizing the potential for infection spread became paramount.

This intricate interplay between the pandemic and healthcare dynamics underscores the profound impact on ankylosing spondylitis patients, who found themselves navigating not only the challenges posed by their underlying condition but also the collateral consequences of the global health crisis.

As we navigate the post-pandemic landscape, there arises a critical need for a nuanced understanding of how the past disruptions have shaped the current state of the ankylosing spondylitis market. This awareness is instrumental in devising resilient strategies that not only address the immediate aftermath but also fortify the industry against future uncertainties.

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The retail pharmacy segment held the highest share in 2020

By distribution channel, the retail pharmacy segment contributed to nearly half of the global ankylosing spondylitis market revenue in 2020, and is projected to maintain the lion’s share from 2020 to 2030. This is due to increase in number of retail pharmacy. At the same time, the online pharmacy segment would cite the fastest CAGR of 6.8% by the end of 2030. Increase in internet users and rise in number of online pharmacy platforms has fueled the growth of the segment.

North America to lead the trail in terms of revenue

In the intricate tapestry of the global ankylosing spondylitis market, North America emerges as the vanguard, leading the trail in terms of revenue. The region commanded a substantial share in 2020, contributing almost two-fifths of the total market share, and is poised to maintain its dominance throughout the forecast period. This hegemony is underpinned by several factors, including a notable upswing in the prevalence of ankylosing spondylitis, the strategic presence of key players dedicated to the manufacturing and development of cutting-edge ankylosing spondylitis drugs, and a marked increase in the number of hospitals dotting the North American landscape.

Simultaneously, the Asia-Pacific region is slated to exhibit the most rapid Compound Annual Growth Rate (CAGR) at 6.1% over the entire forecast duration. This acceleration can be attributed to a confluence of factors, including a surge in the number of hospitals, a dense population demographic, and proactive government initiatives aimed at advancing ankylosing spondylitis treatment within the region.

As North America takes the helm in steering the revenue trajectory, and the Asia-Pacific region emerges as a dynamic force in terms of growth, the global ankylosing spondylitis market unfolds as a dynamic arena. This nuanced regional analysis serves as a compass for industry stakeholders, guiding strategic decisions and fostering a comprehensive understanding of the evolving market dynamics on a global scale.

Key players-

• Eli Lilly and Company
• AbbVie, Inc,
• Gilead Sciences
• Amgen, Inc,
• Merck & Co. Inc
• UCB, Inc.,
• Pfizer, Inc
• Janssen Pharmaceuticals
• Reliance Life Sciences Pvt. Ltd
• Novartis AG

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