A prominent research firm, Cognizance Market Research added a cutting-edge industry report on the “Global Myasthenia Gravis Market.” The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2022 to 2030.
Global Myasthenia Gravis Market Analysis
According to cognizance market research, 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.
What is the Global Myasthenia Gravis Market?
Myasthenia gravis is an uncommon, chronic, and progressive neuromuscular disorder that affects voluntary muscles in various parts of the body, including the head, limbs, spine, eyes, and throat. This condition disrupts nerve impulse transmission, leading to weakness. The primary cause is the production of antibodies against the acetylcholine receptor (ACHR), which results in the loss of ACHRs. This disturbance impairs the proper transmission of electrical signals from neurons to muscles, leading to skeletal muscle weakness.
While there is no known cure for myasthenia gravis, treatments are available to alleviate its symptoms. People of all ages can be affected by this disorder, but it’s more commonly observed in younger individuals, such as females around the age of 20 and males aged 50 and older. Diagnosis involves various tests like blood tests, electromyograms (EMG), genetic tests, and nerve conduction studies.
According to the National Organization for Rare Diseases (NORD), approximately 14 to 40 individuals per 100,000 are estimated to have myasthenia gravis. The prevalence of this condition has reportedly increased over the past few decades.
Several factors contribute to the growth of this market. These include the rising utilization of immunotherapies, the adoption of potent drugs, the emergence of biologics, and a deeper understanding of rare diseases. Another driving force is the ongoing clinical trials conducted by pharmaceutical companies to develop innovative treatments. With a strong pipeline of potential drugs and a diverse array of options, the market for myasthenia gravis therapies is expected to continue expanding.
Global Myasthenia Gravis Market Outlook
The Global Myasthenia Gravis Market outlook of the report gives a detailed idea about the historical, current & forecast Global Myasthenia Gravis Market trends by analyzing the current therapies which are currently in the market of myasthenia gravis. It also includes market drivers, market restraints & demand for better technology in this market.
Among the therapies, medication has the largest market share, and it is predicted to continue to dominate for the entire anticipated time. This is because medications can drastically suppress the immune system while also treating the associated symptoms. Some examples of drugs include corticosteroids, immunosuppressive drugs like Prograf (tacrolimus), Neoral/Sandimmune, and immunotherapies like Soliris (eculizumab) (cyclosporine). The other primary alternative is surgery, which is the most invasive type of treatment and often involves a thymectomy (thymus removal).
The market for myasthenia gravis treatments is expanding rapidly and will continue to do so during the next years. 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.
Myasthenia gravis medication development pipeline studies are multiplying, which is anticipated to drive market expansion. The recent approval of Soliris (eculizumab) by the U.S. FDA and the European Commission is for the treatment of adult patients with generalized myasthenia gravis who are anti-ACHR antibody positive. Soliris is the only complement inhibitor approved for this illness. Immunosuppressants and monoclonal antibodies are being utilized increasingly frequently to lower lifetime corticosteroid exposure and enhance long-term outcomes.
Rising investment in the healthcare sector and in research and development activities to develop advanced technologies for the treatment of myasthenia gravis due to rising demands will drive the market in the forecast period.
Yet, if healthcare prices and per capita income increase globally, there will likely be a greater need for pricey therapies like intravenous immunoglobulin (IVIG) therapy and plasma exchange.
Segment Analysis:
The Global Myasthenia Gravis Market is divided into segments based on the type, the distribution channel, the drugs, and geography.
Based on type there are several different varieties of myasthenia gravis, including ocular myasthenia gravis, congenital myasthenia gravis, generalized myasthenia gravis, and transitory myasthenia gravis. Congenital myasthenia gravis, a hereditary condition, typically manifests as muscle weakness and exhaustion during or shortly after pregnancy, childbirth, or the early years of infancy. It occurs when neurotransmitters, which are substances that aid in information flow between nerve cells and muscles are incorrectly released and absorbed.
Based on end users The Global Myasthenia Gravis Market is segmented, including Hospital Pharmacies, diagnostic centers, and academic and research organizations. The availability of a sizable patient pool and increased demand for sophisticated Myasthenia gravis treatment & advanced technology in various hospital settings helped the hospital segment account for a sizable revenue share in 2022. Also, a large number of patients have visited medical facilities for Myasthenia gravis diagnosis & treatment as a result of the availability of a variety of therapeutic options.
Based on drug type the Global Myasthenia Gravis Market is segmented into Immunosuppressants, corticosteroids, cholinesterase inhibitors, and other drug classes are listed alphabetically. Over the projection period, the pharmaceutical segment is anticipated to contribute the biggest revenue share. This is a result of the increased demand for medications that effectively treat the symptoms while dramatically suppressing the immune system.
Among the therapies, medication has the largest market share, and it is predicted to continue to dominate for the entire anticipated time. Soliris is the only complement inhibitor approved for this illness. Immunosuppressants and monoclonal antibodies are being utilized increasingly frequently to lessen lifetime exposure to corticosteroids and enhance long-term effects.
Geographical Analysis
Geographically, the market for myasthenia gravis has been divided into North America, Asia Pacific, Europe, South America, and the middle east and Africa. Out of all the regions, North America had the greatest market share in 2022, and it is projected that it will maintain its dominance over the market during the forecast period. The prevalence of immunotherapies and monoclonal antibodies, rising healthcare expenses, the existence of reputable institutions for research and development, and a hospitable reimbursement environment all contribute to this.
Asia Pacific is anticipated to grow at the fastest CAGR during the anticipated period due to the growing revenue production from pharmaceuticals like immunosuppressants and monoclonal antibodies in this region. Opportunities are increasing in the MG market, due to a large patient pool, rising healthcare costs in emerging nations, and growing public knowledge of innovative medicines.
Other forces behind the expansion are regional governments’ and manufacturers’ efforts to enhance their financial commitments to the healthcare sector. Myasthenia gravis is expected to have a significant market in North America during the study period, growing at a significant CAGR, and reaching USD xx million in 2022 with a share of around xx%. The region’s aging population and the condition’s increasing prevalence will both have an impact on market growth in the years to come.
Europe has the second-largest market share for treatments for myasthenia gravis. This is due to increased financing and the establishment of several healthcare organizations to identify and treat uncommon diseases like myasthenia gravis.
The report offers the revenue of the Global Myasthenia Gravis Market for the period 2020-2030, considering 2020 & 2021 as historical years, 2022 as the base year, and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Global Myasthenia Gravis Market for the forecast period. The Global Myasthenia Gravis Market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the Global Myasthenia Gravis Market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the Global Myasthenia Gravis Market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the Global Myasthenia Gravis Market. Secondary research involved a detailed analysis of significant players’ product portfolios. Literature reviews, press releases, annual reports, white papers, and relevant documents have been also studied to understand the Global Myasthenia Gravis Market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segments included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the Global Myasthenia Gravis Market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the Global Myasthenia Gravis Market. The subsequent section of the myasthenia gravis reports highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Global Myasthenia Gravis Market Competitive Landscape
The “Global Myasthenia Gravis Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as,
The report explores the competitive scenario of the Global Myasthenia Gravis Market. Major players operating in the Global Myasthenia Gravis Market have been identified and profiled for unique commercial attributes. Company overview (company description, product portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the Global Myasthenia Gravis Market report. Customers can use the report’s format to not only make informed judgments about the sector but also to ensure that it continues to expand steadily over time. The intention is to direct clients toward the continuous expansion of their industry.
Segmentation:
Global Myasthenia Gravis Market, by Type
Global Myasthenia Gravis Market, by Drug Class
Global Myasthenia Gravis Market, by Distribution Channel
Global Myasthenia Gravis Market, by region
AbbVie, Inc., Alexion Pharmaceutical, Inc., Amneal Pharmaceuticals, Inc., Argenx SE, Astellas Pharma, Inc., Avadel Pharmaceuticals PLC, Bausch Health Companies Inc., etc.
Trend: Increased public awareness and disease diagnosis. Drivers: novel therapies are growing. Opportunities: medical condition payment regulations advance. Challenges: efforts to create and win approval for new drugs to treat the condition as a result.
Companies are deploying various strategies, strategic agreements, acquisitions & mergers, new testing, & investing to develop effective treatments.
AbbVie, Inc., Alexion Pharmaceutical, Inc., Amneal Pharmaceuticals, Inc., Argenx SE, Astellas Pharma, Inc., Avadel Pharmaceuticals PLC, Bausch Health Companies Inc., etc.
It is estimated to reach US$ 2,885.6 Million by the end of 2030
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