The global ankylosing spondylitis market size stood at around USD 4.8 billion in 2022 and is projected to reach USD 8.45 billion by 2028, exhibiting a CAGR of 8.21% during the forecast period.
The introduction of novel products as well as the entry of biosimilars is expected to drive the market growth over the forecast period. The increasing prevalence of the disease is further anticipated to drive the market. According to a study published in Oxford University Press, the number of cases in Europe were 1.30 to 1.56 million and 4.63 to 4.98 million in the Asia Pacific. Commercialization of novel products and increasing collaborations between companies is expected to accelerate the market growth.
The increasing prevalence of ankylosing spondylitis itself is a major factor impelling the global ankylosing spondylitis treatment market. In addition, factors such as rising awareness, technological advancements, government initiatives and improvement in the reimbursement scenario augur well for the global ankylosing spondylitis treatment market. However, factors such as high treatment costs and a dearth of experienced professionals are restraining the global ankylosing spondylitis treatment market. In addition, a low adoption rate of ankylosing spondylitis treatment options is restraining the market.
Growing population and economies in the developing countries such as India and China are expected to offer lucrative opportunities for the global ankylosing spondylitis treatment market. Innovation of new, more efficient products is expected to offer growth opportunities for the global ankylosing spondylitis treatment market. A rising number of mergers and acquisitions, new product launches, and more collaborations and partnerships are some of the latest trends that have been observed in the global ankylosing spondylitis treatment market.