Pune, India, Feb. 28, 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 Insights 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.
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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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 Myasthenia Gravis Treatment 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.
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Regional Insights-
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.
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.
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.
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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 Myasthenia Gravis Treatment 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.
Competitive Landscape:
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 :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- 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
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Drug Class
- Canada
- By Drug Class
- U.S.
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