Myasthenia gravis (MG) is a chronic, progressive, and uncommon neuromuscular disorder. In this autoimmune disorder in which the head, limb, spinal, ocular, and respiratory muscles are weak. The antibodies are produced against the acetylcholine receptor (ACHR), which ordinarily hinders the appropriate passage of electrical signals from neurons to muscles.
There is no cure available to date for this disorder, but the symptoms can be relieved by giving the proper treatment. This disorder can affect people of any age, but it is mostly seen in people of younger age like in females of (age 20) and males (aged 50 and older 50). It is diagnosed by various tests like blood tests, electromyograms (EMG), genetic tests & Nerve conduction studies.
The Global Myasthenia Gravis Market was valued at US$ 1,589.7 Million in 2022 and is anticipated to reach US$ 2,885.6 Million by the end of 2030 with a CAGR of 7.8% from 2023 to 2030.
According to the National Organization for Rare Diseases (NORD), 14 to 40 Individuals out of every 100,000 are thought to have myasthenia gravis. The condition has reportedly become more prevalent during the previous few decades. This is connected to both the advancement in patient identification and the general increase in autoimmune diseases worldwide. Myasthenia gravis is more common in women than in men, though symptoms may not appear right away.
The key drivers of this market include the rising use of immunotherapies, the adoption of potent drugs, the emergence of biologics, and a greater understanding of uncommon diseases. Another factor supporting the market’s growth is the continuing clinical trials that pharmaceutical companies are performing to develop innovative medicines. Due to the robust pipeline of prospective drugs and the range of options, the market for therapies for myasthenia gravis sickness will continue to grow.
Nowadays, research is focused on enhancing the identification and management of MG-related autoimmune conditions. A paradigm shift in research is also occurring, shifting focus from suppressing the immune system to rebalancing it. Another important field of study is the physiology of the neuromuscular junction (NMJ), which tries to increase its functionality regardless of expected immune system attacks.
Global Myasthenia Gravis Market Amid COVID-19 Pandemic
The COVID-19 pandemic left a negative impact on the Global Myasthenia Gravis Market. It was damaging to the sales of myasthenia gravis drugs & growth of the market. Immunosuppressive drugs, which are routinely used, damage the immune system. As a result, these people are more prone to illnesses like COVID-19. As a result, during the pandemic, patient traffic at hospitals and clinics significantly decreased. Trials of new drugs were hampered by supply chain issues that affected significant corporations. Also, well-known businesses expected the revolutionary treatments to bring in a lot of money but saw their profits drop due to an issue with the way they were treating certain diseases. The pharmaceutical and healthcare sectors have been significantly impacted by the unanticipated COVID-19 outbreak.
During the Covid-19 period, the demand for the Covid-19 vaccine has spread around the world because of the daily rise in Covid-19 incidents, increasing demand for research and development as a result. Myasthenia gravis treatment market growth has been hampered since other research and clinical trials have stalled due to an increase in Covid-19 research. It is also hampered due to generic drug competition between the major players in the market and the availability of low-cost alternative treatments.
Most COVID-related patients are seen in clinics, which suggests that the healthcare sector has changed. COVID-19, which has also disrupted the supply chain and altered consumer behavior, has slowed growth. Medical personnel were primarily focused on treating COVID patients at this time, therefore they did not provide necessary care to individuals with myasthenia gravis. Also, it resulted in the global adoption of rigorous lockdown and quarantine regulations, which made disease treatment and medication adherence increasingly harder and delayed the import and export of drugs and treatments, having a substantial impact on the sector.
Increasing Prevalence of neuromuscular disorders, research & development activities & rising geriatric population to boost Global Myasthenia Gravis Market.
As more people develop neuromuscular conditions affecting the muscles, neuromuscular junctions, peripheral nerves, nerve plexuses, spinal nerve roots, and/or cranial and spinal motor neurons, the market for treatments will grow faster. Also, it is projected that increased patient understanding of the condition will promote market growth.
Another factor supporting the market’s growth is the continuing clinical trials that pharmaceutical companies are performing to develop innovative medicines. Due to the robust pipeline of prospective drugs and the range of options, the market for therapies for myasthenia gravis sickness will continue to grow. The market for myasthenia gravis will develop as a result of advances in medical technology, expanding government initiatives to increase cancer awareness and more government support.
Some of the major factors propelling the growth of the global Myasthenia Gravis Market revenue over the forecast period include rising financing in research & development activities, rising geriatric population, rising prevalence of myasthenia gravis disorder globally, and increasing focus on developing healthcare infrastructure. Also, more clinical trials for the treatment of uncommon diseases are predicted to have a beneficial effect on market revenue growth.
The market growth rate for myasthenia gravis would benefit from the anticipated increase in demand for effective treatment options. Also, older people are more susceptible to the condition, and if it recurs, the market for myasthenia gravis disease will increase.
North America to spearhead the Global Myasthenia Gravis Market.
In terms of market share and revenue, North America now dominates the myasthenia gravis disease market, and this dominance is expected to grow throughout the forecast period. This is because myasthenia gravis is becoming more prevalent in this area of the United States.
- Increasing occurrence of myasthenia gravis: In North America, both public and private institutions are making significant investments in healthcare infrastructure and research and development to cope with the increasing number of patients suffering from myasthenia gravis.
- Favorable Regulatory Environment: The regulatory climate in North America is improving. Pharmaceutical businesses are finding it simpler to launch new drugs since regulatory agencies are creating clearer policies and procedures for the clearance of these therapies.
- Increasing geriatric population: The American Cancer Society’s 2022 forecast predicts that there will be over 1.9 million new instances of cancer in the country that year. But, according to the same website, the risk of cancer increases noticeably as one age. The number of individuals with chronic illnesses is increasing along with the population.
- Rising adoption of newer & safer drugs: Increasing people’s awareness and adoption of immunotherapies & immunosuppressants are driving the market in the North American region.
Companies operating in the global myasthenia gravis market have adopted several growth strategies to expand their market share and increase their revenue. Some of the key players operating in the global myasthenia gravis market are AbbVie, Inc., Alexion Pharmaceutical, Inc., Amneal Pharmaceuticals, Inc., Argenx SE, Astellas Pharma, Inc., Avadel Pharmaceuticals PLC, Bausch Health Companies Inc., Baxter International, Inc., CSL Behring, CuraVac, Inc., F. Hoffmann-La Roche, Ltd., GlaxoSmithKline plc, Grifols SA, Immunovant, Inc., Mitsubishi Tanabe Pharma Corp., Novartis AG, RA Pharmaceuticals, Inc., Takeda Pharmaceutical Co., Ltd., UCB Pharma, and Valeant Pharmaceuticals International, Inc.
- Partnerships and Collaborations: Companies are collaborating to exchange resources and expertise to hasten the creation of new treatments. Through these partnerships, firms are better able to utilize one another’s skills and create new therapies.
- Ease in product manufacturing & distribution: To develop new radio theranostic and improve already existing ones, businesses are spending on R&D. To broaden their product offerings and gain a competitive advantage, several companies are launching new items on the market.
- Geographical Expansion: Companies are expanding their reach by opening operations in new markets and markets with promising growth prospects. As a result, companies can attract new customers and increase revenue.
- Acquisitions and Mergers: Companies can obtain new technology by making purchases or joining forces with other companies.
- Increased investment: increase in the investment to produce cost-effective items to expand and grow in the competitive market.