Global 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, 2019 – 2028
The global ankylosing spondylitis market size stood at around USD 4.2 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
The introduction of novel products, as well as the entry of biosimilar, is expected to drive 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 was 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 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.
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Key Industry Trends and Recent Developments in Ankylosing Spondylitis Market
By Drug Class:
Humira led the ankylosing spondylitis market in 2019 and accounted for over 25% of the overall share owing to its low cost and high efficacy. However, the product is expected to have declining sales over the forecast period due to patent expiry in Europe along with direct biosimilar competition in certain markets.
On the other hand, Cosentyx is expected to be the fastest-growing segment over the forecast period. In October 2019, Novartis received the European Commission approval for Cosentyx for non-radiographic axial spondyloarthritis. The company further plans to submit the label update application to the U.S. FDA and once it is approved, the product is projected to have significant growth over the forecast period.
However, the patent expiry of blockbuster products restrains the market growth. In October 2018, the patent of AbbVie’s proprietary product Humira expired in the EU. Furthermore, the EU patent of Enbrel (Amgen Inc./Pfizer Inc.) and Remicade (Johnson & Johnson Services, Inc./Merck & Co., Inc.) expired in 2015.
North America was the largest region in 2019 and accounted for over 60% of the total share owing to high disease prevalence in U.S. and Canada and commercial sales of branded drugs. The patent expiry of branded drugs has provided an opportunity for biosimilar. For instance, the patent expiry of Remicade in 2015 resulted in the introduction of Inflectra in 2016, Ixifi & Renflexis in 2017, and Avsola in 2019.
In addition, initiatives undertaken by major players support market growth in North America. In January 2019, Novartis AG and TrialSpark collaborated with an aim to increase patient access to clinical trials. This collaboration will shorten the enrolment timeline and help in the faster development of new therapies.
Recently, the trials were launched in various sites in New York to test a treatment for ankylosing spondylitis. The Asia Pacific is projected to be the fastest-growing region owing to increasing disease incidence in developing countries like China, India, and Indonesia. Furthermore, favorable reimbursement policies in China is supporting regional market growth.
Key Industry Players
Continuous R&D efforts by various pharmaceutical companies to develop better treatment options are expected to boost market growth over the forecast period. For instance, Pfizer Inc. is currently recruiting patients for determining the remission criterion at a 6-month time interval for etanercept. Key companies are also adopting different strategies, such as label expansion and M&A, to increase their market share. For instance, in May 2019, AbbVie Inc. announced the patent extension of its blockbuster drug, Humira, till 2023 in U.S. after the settlement with Boehringer Ingelheim International GmbH. This deal with Boehringer enabled the company to maintain a monopoly in U.S. Some of the prominent players in the ankylosing spondylitis market include: AbbVie, Inc., Amgen, Inc., Pfizer, Inc., Novartis AG, Eli Lilly and Company, UCB, Inc., Johnson & Johnson Services, Inc., Merck & Co., Inc.
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