Ankylosing Spondylitis Market Size Worth $7.9 Billion By 2027 | CAGR: 8.3%: Grand View Research, Inc.
SAN FRANCISCO, June 18, 2020 /PRNewswire/ -- The global ankylosing spondylitis market size 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.
SAN FRANCISCO, June 18, 2020 /PRNewswire/ -- The global ankylosing spondylitis market size 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.
Key suggestions from the report:
- 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 of biosimilar competition 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
Read 185 page research report with ToC on "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" at: https://www.grandviewresearch.com/industry-analysis/ankylosing-spondylitis-market
Furthermore, presence of favorable reimbursement policies is anticipated to propel the growth. For instance, in Canada (Ontario) under the province's public drug program, Novartis AG announced the reimbursement 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.
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 Spondylitis Regional 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.
Find more research reports on Pharmaceuticals Industry, by Grand View Research:
- Inhalable Drugs Market – Rising prevalence of respiratory diseases and increasing geriatric population are some of the key factors expected to drive the market.
- Lymphoma Treatment Market – Rising research activities for development of new treatments and increasing product line extension are likely to expedite growth.
- Retinal Disorder Treatment Market – Growing incidence of retinal disorders around the globe and need for effective and affordable treatment options for the same has also driven the market.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
