Researchers in the axial spondyloarthritis treatment sector are leveraging radiographic treatments and awareness about inflammatory back pain for development of long-term solutions.
Researchers in the axial spondyloarthritis treatment sector are leveraging radiographic treatments and awareness about inflammatory back pain for development of long-term solutions.
Fact.MR, Rockville MD: An ongoing report on the axial spondyloarthritis (axSpA) market published by market research firm Fact.MR has projected steady growth in the coming months through 2021 and beyond. The covid-19 pandemic has moderately impacted operations in the axial spondyloarthritis (axSpA) treatments owing to restrictions imposed on elective, non-urgent medical procedures, and the resultant reduction in spending. The market is expected to witness a gradual recovery through 2021, as governments relax lockdown restrictions while the pandemic subsides.
According to an assessment conducted by the European League against Rheumatism and the Spondyloarthritis International Society, recommended treatments include the use of nonsteroidal anti-inflammatory drugs in combination with nonpharmacological options consisting physiotherapy regardless of primary care strategies.
Non-steroidal anti-inflammatory drugs have proven to be effective in cases of non-radiographical axial spondyloarthritis as well, with superior outcomes in reducing pain and stiffness of the condition. This will emerge as a key trend that will influence developments in the industry for the long-term.
“Greater awareness among patients about inflammatory back pain is expected to result in higher accuracy in the diagnosis of axial Spondyloarthritis. Also, better recognition of non-radiographical -axSpA will minimize false positives and negatives, driving pharmaceutical companies to pursue treatments for these patients,” comments a Fact.MR analyst.
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Key Takeaways from Fact.MR’s Axial Spondyloarthritis (axSpA) Market
- Non-radiographical axial spondyloarthritis is projected to witness significant growth owing to research into biologics solutions.
- Distribution through online pharmacies will gain impetus on the back of digitalization in the healthcare sector.
- India and China have emerged as key lucrative markets for axial spondyloarthritis treatments owing to the presence of vast geriatric populations.
- United States will display significant growth, holding the lead owing to favorable reimbursement scenarios and high healthcare spending.
Axial Spondyloarthritis (axSpA) Market – Prominent Drivers
- Significant growth in investments into research and development is a major driving factor.
- Favorable reimbursement policies in multiple countries is supporting growth prospects.
- Availability of therapeutic options such as physiotherapy is widening the scope of applications in the industry.
Axial Spondyloarthritis (axSpA) Market – Key Restraints
- Limited treatment options associated with axial spondyloarthritis is a key factor hindering growth.
- High costs of treatments and poor awareness in rural areas are adversely affecting adoption rates.
Discover more about the axial spondyloarthritis (axSpA) market with figures data tables and table of contents. You can also find detailed market segmentation at https://www.factmr.com/report/5272/axial-spondyloarthritis-axspa-market
Competitive Landscape
Major players in the axial spondyloarthritis (axSpA) market include but are not limited to Johnson & Johnson, Abbott Laboratories, GlaxoSmithKline plc, Pfizer Inc., UCB Biosciences GmbH, AbbVie Inc., Merck & Co. Inc., Astra Zeneca Plc, Novartis AG, Eli Lilly and Company.
Major players in the axial spondyloarthritis are focused on investments into research and development for treatment innovations and new product launches, in line with approval standards of medical regulatory bodies.
In June 2020, Novartis AG announced the receipt of approval by the US Food and Drug Administration for Secukinumab, an IL-17a inhibitor, for treating conditions such as psoriatic arthritis, plaque psoriasis, and ankylosing spondylitis among others.
In April 2021, AbbVie Inc. has unveiled positive trial outcomes RINVOQTM (upadacitinib) for patients with moderate to severe cases of active rheumatoid arthritis, who do not respond appropriately to methotrexate treatments.
Also, Eli Lilly and Company received the approval of Health Canada for its Taltz injection which can be used in treating non-radiographic axial spondyloarthritis, psoriatic arthritis, and ankylosing spondylitis.
More Insights on the Axial spondyloarthritis (axSpA) Market
In its latest report, Fact.MR offers unbiased analysis of the global axial spondyloarthritis (axSpA) market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of stages (ankylosing spondylitis, and non-radiographical axial spondyloarthritis), drug class (non-steroidal anti-inflammatory drugs, anti-rheumatic drugs, glucocorticoids, and TNFα inhibitors), and distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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Source: Fact.MR