Axial spondyloarthritis market will almost double to $2.9 billion by 2024

The global market value for axial spondyloarthritis (axSpA) therapeutics will expand from $1.5 billion in 2014 at a compound annual growth rate (CAGR) of 7.1% to reach $2.9 billion by 2024, driven primarily by increased diagnosis of the condition and use of biologics, new research finds.

According to research and consulting firm GlobalData’s latest report, the US will cement its position as the largest of the seven major treatment markets (7MM) for axSpA, which also include the five European countries (5EU) of France, Germany, Italy, Spain, and the UK, and Japan. The US share will grow from 73% in 2014 to 77% by 2024, with the market increasing slightly above the 7MM rate, at a CAGR of 7.5%.

Heather Leach, GlobalData’s analyst covering Immunology, says: “Greater awareness of inflammatory back pain will lead to an increase in diagnosed prevalent cases of ankylosing spondylitis (AS) and non-radiographic axial spondyloarthritis (nr-axSpA) across the 7MM by 2024.Furthermore, the recognition of nr-axSpA as an early form of AS will lead to an increase in the diagnosis of nr-axSpA. As such, pharmaceutical companies are expected to pursue label expansions to treat these patients.”