Ankylosing spondylitis is a systemic inflammatory disease that primarily affects the spine. In ankylosing spondylitis, the joints, ligaments, and spine become inflamed. The inflammation leads to pain and stiffness in the lower back of the body and progress into the upper spine, neck, and chest. The joints and bones (vertebrae) fuse together eventually, causing the spine to become rigid and inflexible. Fused spine is called as bamboo spine as it is identified on X-rays. Other joints such as the hips, ribs, and small joints of hands and feet are also affected. Symptoms of the disease include pain and stiffness in joints, fever, fatigue, and loss of appetite. The global prevalence of ankylosing spondylitis is about 0.1% to 0.5%. This disease can occur at any age; however, it is common among the people from 19 to 40 years of age. It affects primarily men as compared to women. The prevalence ratio in male to female is 2.5:1. The precise cause of the disease is unknown, but it is believed to be hereditary, i.e., gene variation in HLA-B27. About 85% to 90% of people with the disease have HLA-B27 gene variation.
The market is growing as no single therapy is approved. The available treatment is focused on reducing the discomfort caused due to ankylosing spondylitis. Current treatment options include nonsteroidal anti-inflammatory drugs (ibuprofen and naproxen); disease-modifying antirheumatic drugs (methotrexate); and biologics (secukinumab, certolizumab pegol, and infliximab). The market is expected to expand in the near future because of increase in research and development expenditure, rise in the number of treatment seeking population, and high unmet needs of current treatment in terms of appropriate drugs. However, loss of patent exclusivity of certain products such as etanercept and launch of biosimilars act as key restraints for the growth of the ankylosing spondylitis market.
The global ankylosing spondylitis market can be segmented based on molecule type, route of administration, and geography. In terms of molecule type, the market can be segregated into small molecules, biologics, and biosimilars. The biologics segment is expected to grow as compared to the small molecules segment as the former segment has shown more promising results in clinical development. The biosimilars segment may change the landscape of the ankylosing spondylitis market as it is likely to impact on the cost of the treatment. Based on route of administration, the market can be divided into oral and parenteral. The parenteral segment is expected to grow as majority of molecules in the clinical development for ankylosing spondylitis are given via this route.
In terms of geography, the market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the ankylosing spondylitis market, followed by Europe, due to higher incidence and prevalence rate, adoption of newer treatment options, and availability of improved diagnostic tools and health care infrastructure. Asia Pacific is an emerging market for ankylosing spondylitis due to the developing health care infrastructure, increasing patient pool, and rising government expenditure in the health care industry. However, affordability issues and lack of proper treatment are factors restraining the market growth in regions such as Middle East & Africa and Latin America.
Major players operating in the global ankylosing spondylitis market include AbbVie Inc., Janssen Pharmaceuticals Inc., Pfizer Inc., Sandoz International GmbH, Amgen Inc., Protalix BioTherapeutics, Inc., Reliance Life Sciences Pvt. Ltd., Momenta Pharmaceuticals Inc., Celgene Corporation, Regeneron Pharmaceuticals, and Merck & Co. Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.