Myasthenia Gravis Treatment Market Size [2022-2029]: $2.03 Billion by 2028 at CAGR of 7.5%
According to Fortune Business Insights, The global myasthenia gravis treatment market size is anticipated to reach USD 2.03 billion by 2028 and exhibit a CAGR of 7.5% during the forecast period. Rising Geriatric Population in North America to Augment Market Growth
Pune, India, May 26, 2022 (GLOBE NEWSWIRE) — The global myasthenia gravis treatment market size is anticipated to reach USD 2.03 billion by 2028 and exhibit a CAGR of 7.5% during the forecast period. Fortune Business InsightsTM has presented this information in its report titled, “Myasthenia Gravis Treatment, 2021-2028”. The market size stood at USD 1.15 billion in 2020 and is expected to reach USD 1.22 billion in 2021. Additionally, the rising geriatric population is expected to be a significant market growth driver.
Myasthenia Gravis Treatment Industry Developments-
March 2021 – Efgartigimod for the treatment of generalized myasthenia gravis was approved by the FDA, according to Argenx.
March 2021 – Viela Bio, Inc. was bought by Horizon Therapeutics plc to bolster the company’s portfolio, pipeline, and therapeutic emphasis on rare illness medicines.
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Myasthenia Gravis Treatment Market Drivers & Restraints-
Rising Prevalence of the Condition to Drive Market Owing to Increased Awareness in Individuals
Over the last few decades, the prevalence of myasthenia gravis treatment has risen dramatically worldwide. This rise is attributable to increased public knowledge and diagnosis of the disease in both developing and developed countries. The industry is also growing as payment policies in countries for medical conditions improve. Furthermore, the demand for innovative therapeutics is increasing with the rising diagnosis rate and favorable reimbursement schemes for the situation. As a result, leading market players are stepping up their efforts to develop and secure approval for new medications to treat the disease.
However, limited reimbursement policies and the high cost of the treatment may hinder the myasthenia gravis treatment market growth.
COVID-19 Impact-
Considerable Decline in Hospital Tourism during the Pandemic to Hamper Market Growth
The COVID-19 pandemic had a negative influence on the myasthenia gravis treatment market. Immunosuppressive drugs are commonly used, which weaken the immune system. As a result, these people are vulnerable to infections, such as COVID-19. As a result, during the pandemic in 2020, patient footfall at hospitals and clinics decreased significantly. Key manufacturers faced supply chain challenges and drug trial roadblocks. Furthermore, prominent companies expected considerable revenue from the novel medicines but saw a drop due to a disturbance in the treatment of myasthenia gravis patients.
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Segmentation-
On the basis of drug class, the myasthenia gravis treatment industry is fragmented into immunosuppressants, cholinesterase, inhibitors, corticosteroids, IVIg, and monoclonal antibodies. On the basis of distribution channels, the market is divided into retail pharmacies, online pharmacies, and hospital pharmacies. Geographically, the market is classified into Asia Pacific, Europe, North America, and the Rest of the World.
Myasthenia Gravis Treatment Market Report Coverage-
The report covers a detailed analysis of the myasthenia gravis treatment market. It concentrates on crucial elements, including medicine classes, leading & growing companies, and distribution channels. Furthermore, it provides market information and covers significant industry developments. In addition to these aspects, the report delves into several other variables contributing to the market’s recent expansion, including the COVID-19 impact.
Myasthenia Gravis Treatment Market Regional Insights-
Rising Geriatric Population in North America to Augment Market Growth
In 2020, the global myasthenia gravis treatment market share in North America was estimated to be worth USD 0.56 billion. The rising prevalence of the condition and the region’s growing geriatric population are two factors driving the market’s expansion during the forecast period. Furthermore, in both emerging and developed countries, the region’s robust healthcare infrastructure and favorable reimbursement policies boost the diagnosis rate and treatment of the ailment. During the projected period, these factors are expected to drive the market.
Europe has the second-largest market share in the world. This is due to increased financing and the creation of several healthcare organizations to diagnose and treat rare diseases such as myasthenia gravis. The European Joint Programme on Rare Diseases was founded, according to a 2019 article in a national publication in Europe, to discover viable medicines and enhance diagnosis for rare diseases in connected EU member states.
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Asia Pacific market is predicted to grow at the fastest rate during the projection period. The rising frequency of the disease in the region, combined with better payment policies for treatment, is increasing both the diagnosis rate and the number of individuals receiving treatment. According to a 2020 article published in the Journal of the Formosan Medical Association, myasthenia gravis accounted for roughly 8.1% of the top ten indications for IVIg in Australia. These factors are expected to boost the region’s market growth.
Lastly, the Rest of the World is predicted to increase slowly throughout the projection due to developing healthcare infrastructure and a lack of favorable reimbursement regulations for myasthenia gravis treatment. However, increased awareness of the ailment and demand for treatment in Latin America and the Middle East will likely fuel market growth between 2021 and 2028.
Myasthenia Gravis Treatment Market Competitive Landscape-
Key Players to Work on the Introduction of Innovative Drug Therapies
To strengthen their product portfolios, significant firms are constantly working on introducing innovative drug therapies and smart acquisitions of other domestic players. Furthermore, prominent players are concentrating on increasing the use of their existing medications to treat myasthenia gravis. Prograf, an immunosuppressant medicine developed by Astellas Pharmaceuticals to prevent organ transplant rejection, is being studied as a treatment for this condition. Similarly, Cytokinetics’ Tirasemtiv, which is being designed for muscle weakness, is also being evaluated for this issue.
List of Key Market Players:
- AstraZeneca (Cambridge, U.K.)
- Astellas Pharma Inc. (Tokyo, Japan)
- F. Hoffmann-La Roche Ltd. (Basel, Switzerland)
- Novartis AG (Basel, Switzerland)
- Veloxis Pharmaceuticals, Inc. (Horsholm, Denmark)
- Bausch Health Companies Inc. (Laval, Canada)
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Table Of Contents :
- Myasthenia Gravis Treatment Market Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Myasthenia Gravis Treatment Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Recent Industry Developments – Mergers, Acquisitions & Partnerships
- New Product Launches, by Key Players
- Impact of COVID-19 on the Market
- Global Myasthenia Gravis Treatment Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Cholinesterase Inhibitors
- Corticosteroids
- Immunosuppressant
- IVIg
- Monoclonal Antibodies
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia Pacific
- Rest of World
- North America Myasthenia Gravis Treatment Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Cholinesterase Inhibitors
- Corticosteroids
- Immunosuppressant
- IVIg
- Monoclonal Antibodies
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
- Myasthenia Gravis Treatment Market Analysis, Insights and Forecast – By Country
- U.S.
- By Drug Class
- Canada
- By Drug Class
- U.S.
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