Ankylosing Spondylitis Market Thrives with Innovations and Geriatric Demand 2024-2033

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, June 17, 2024 /EINPresswire.com/ -- The global ankylosing spondylitis market is projected to grow from $5.41 billion in 2023 to $5.86 billion in 2024, at a CAGR of 8.4%. Despite challenges, the market is anticipated to reach $7.89 billion by 2028 at a compound annual growth rate (CAGR) of 7.7%, driven by advancements in personalized medicine, novel biologics development, and increased focus on early intervention and screening.

Increasing Geriatric Population Drives Market Growth
The increasing geriatric population is a significant factor contributing to the growth of the ankylosing spondylitis market. The demographic shift towards a higher proportion of elderly people necessitates effective treatments to manage pain and improve mobility in older patients with ankylosing spondylitis. According to the World Health Organization, by 2030, one out of six people globally will be aged 60 years or older. This growing elderly population is propelling the demand for ankylosing spondylitis treatments.

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Key Players and Market Trends
Major companies in the ankylosing spondylitis market include Pfizer Inc., Johnson & Johnson Pvt. Ltd., Merck & Co. Inc., AbbVie Inc., Novartis AG, and Bristol-Myers Squibb. These companies focus on developing innovative drugs, such as enzymatic and cellular assay-based treatments, to address various inflammatory diseases including ankylosing spondylitis. For instance, AbbVie Inc.'s FDA-approved drug RINVOQ, a selective JAK inhibitor, exemplifies the industry's move towards targeted therapeutic interventions.

Ankylosing Spondylitis Market Segments:
• By Treatment Type: Painkillers And Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), Disease-Modifying Anti-Rheumatic Drugs (DMARDS), Biological Therapies, Steroids, Physical Therapies, Surgery
• By Molecule: Biologics, Biosimilar, Small Molecules
• By Route of Administration: Parenteral, Oral, Other Routes
• By Application: Juveniles, Adults
• By End User: Hospitals, Clinics, Research Laboratories, Other End UsersGeographical Insights: North America Leading, Asia-Pacific Growing Fastest
North America was the largest region in the ankylosing spondylitis market in 2023. The Asia-Pacific region is expected to be the fastest-growing market during the forecast period, driven by increased healthcare investments and growing awareness about the disease. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Ankylosing Spondylitis Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Ankylosing Spondylitis Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ankylosing spondylitis market size, ankylosing spondylitis market drivers and trends, ankylosing spondylitis market major players, competitors' revenues, market positioning, and market growth across geographies. The ankylosing spondylitis market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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