Ankylosing Spondylitis Market size is expected to be valued at USD 5,460.5 million in 2022 which is expected to grow at a CAGR of 4.8% over 2022-2028. Ankylosing Spondylitis is a type of arthritis that affects the spine producing long-lasting inflammation of the shoulder, spine, and hip joints. As spondylitis advances between the spine and ribs joint, it ultimately limits the chest movement making it hard to breathe suitably. Advance stages of ankylosing spondylitis cause fractures of the vertebrae. The symptoms include pain in the chest, sensitivity at the pelvis base, tiredness, swelling, and pain in a toe or finger which is usually seen in the age group of 17 to 45 years or late adolescence. Presently, there is no precise treatment for ankylosing spondylitis, but some of medications and cures can relieve the symptoms and help in pain management. The rising prevalence can lead to the ankylosing spondylitis market growth . Moreover, the presence of biologics testing in the market and growing options for the treatment of ankylosing spondylitis are some primary factors that can boost the global ankylosing spondylitis market. Apart from these, increasing awareness among people about new diagnostic approaches can also accelerate the market in the future. Increasing public and private funding for the enhancement of healthcare sectors and strong drugs in the pipeline can also drive the global market further. However, some factors such as the absence of active drugs for the treatment, and the lack of skilled professionals in low-middle income developing countries can restrain the growth of the market. high treatment costs can hinder market growth. Companies should focus on reimbursement policies for ankylosing spondylitis that can create an opportunity for the ankylosing spondylitis market share.
Recent Market Developments:
In June 2020, it was found that Simponi (golimumab), a TNF inhibitor is one of the effective therapies for the treatment of ankylosing spondylitis.
In February 2020, Health Canada approved Taltz (ixekizumab) for curing patients with ankylosing spondylitis and who are not responding to traditional therapy.