The impact of COVID-19 on Axial Spondyloarthritis (axSpA)Market Growth Sales and Opportunity, Concludes Fact.MR

CITY, Country, 2021-Feb-23 — /EPR Network/ —

Axial spondyloarthritis (axSpA) is a chronic, inflammatory, immune-mediated condition which consists of 2 subsets that have been defined nonradiographic axial spondyloarthritis (nr-axSpA) and as ankylosing spondylitis (AS). Around the world people are suffering from Spondyloarthritis. According to the National Ankylosing Spondylitis Society, around 3 million people, close to 6% of the adult population, of the U.K. was suffering from chronic low back pain longer than 3 months in 2012.

In June 2020, Novartis announced that the US FDA has approved Cosentyx for the treatment of non-radiographic axial spondyloarthritis. In addition, UCB’s Cimzia which was approved by FDA in 2013 for the treatment of ankylosing spondyloarthritis received FDA approval in 2019 for treatment for non-radiographic axial spondyloarthriti. Moreover, Eli Lilly’s Taltz, also received an approval by the FDA in June 2020, to receive FDA approval for the treatment of non-radiographic axial spondyloarthritis. These recent developments in the biologics is expected to lead to significant growth in the Axial Spondyloarthritis (axSpA) Market during the forecast period.

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he increasing prevalence of Axial Spondyloarthritis (axSpA) is expected to drive the growth of the market. Increase in the nunber of approved Biosimilars will also boost the growth of the Axial Spondyloarthritis (axSpA) market during the forecast period. The focus of various biotechnological companies in R&D activities is also expected to propel the growth of the axial spondy loarthritis (axSpA) market.

However, the high cost of biologics used to treat Axial Spondyloarthritis (axSpA) will restrain the growth of the Axial Spondyloarthritis (axSpA) Market. The high cost associated with biologics is because of the lengthy testing and manufacturing processes required for manufacturing the biologics along with high investment for R&D activity.

Axial Spondyloarthritis (axSpA) Market: Segmentation

Tentatively, the global Axial Spondyloarthritis (axSpA) Market has been segmented on the basis of stages, drug-class and distribution channel.

Based on stages, the global Axial Spondyloarthritis (axSpA) Market is segmented as:

• ankylosing spondylitis
• non-radiographic axial spondyloarthritis

Based on Drug class, the global Axial Spondyloarthritis (axSpA) Market is segmented as:

 

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In the Stages segment, the non-radiographic axial spondyloarthritis is expected to be experience considerable growth and lead the axial spondyloarthritis (axSpA) market towards tremendous growth. This is due to the new developments in the field of biologics that have been focusing on the treatment of non-radiographic axial spondyloarthritis.

Based on drug class, the non-steroidal anti-inflammatory drugs (NSAID) are expected to dominate the segment as it is highly effective and most commonly used in the treatment of Axial Spondyloarthritis (axSpA).

In the distribution channel segment, the hospital pharmacies and retail pharmacies are expected to be the largest contributor of revenue. However, with the increasing digitalization the online pharmacies are expected to undergo considerable growth during the forecast period in the Axial Spondyloarthritis (axSpA) Market.

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