PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388792
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1388792
Myasthenia gravis (MG) is a type of chronic, rare, and progressive neuromuscular disorder that causes weakness of the head, eye, limb, spinal, and respiratory muscles. Antibodies against the acetylcholine receptor (AchR) that prevent proper electrical signal transmission from nerves to muscles are produced in these autoimmune disorders. Additionally, facial paralysis, drooping of eyelids, double vision, and difficulty in walking are symptoms of myasthenia gravis. These diseases are diagnosed by numerous tests including blood tests for antibodies, Magnetic Resonance Imaging (MRI), edrophonium test, repetitive nerve stimulation test, and Computed Tomography (CT).
The rising global incidence of myasthenia gravis, the adoption of innovative treatments for myasthenia gravis, and increased knowledge about early diagnosis are the primary drivers driving the development of the myasthenia gravis treatment market. Moreover, the growing focus of pharmaceutical companies on the development of novel drugs for disease treatment is witnessing significant growth in the myasthenia gravis treatment market. Additionally, various medications, including immunosuppressants and monoclonal antibodies, are being tested and developed for their efficacy in treating myasthenia gravis. However, side effects associated with the drugs used for treating myasthenia gravis are expected to restrain the market growth shortly. Furthermore, rising awareness about myasthenia gravis among healthcare professionals and patients is majorly contributing to the increase in demand for effective treatments. In line with this, individuals are more likely to seek treatment and diagnosis for myasthenia gravis as more people become aware of its signs and risks. Healthcare professionals are also becoming more knowledgeable about the disease and its available treatments, leading to an increased demand for efficient treatments.
Government initiatives to increase consciousness regarding myasthenia gravis and improve healthcare infrastructure are fueling the market growth.
The global myasthenia gravis treatment market is segmented on the basis of drug class, age group, distribution channel, and region.
The market is divided into five categories based on drug class: thymectomy, monoclonal antibodies, cholinesterase inhibitors, rapid immunotherapies, chronic immunomodulators, and others. The monoclonal antibodies segment is expected to hold the highest market share due to the high precision in treating myasthenia gravis and improved efficacy. The rising use of monoclonal antibodies aims to reduce lifelong exposure to corticosteroids and improve long-term results.
The market is divided into three categories based on distribution channels: drugstore and retail pharmacies, hospital pharmacies, and online providers. The hospital pharmacies segment is likely to maintain its dominance over the forecast period. The segment is attributed to access to the high demand for advanced equipment and a large patient pool for MG treatment in hospital settings. Additionally, the availability of a broad range of treatment options in such facilities has increased patient visits for treatment and diagnosis. The rising investment in state-of-the-art healthcare infrastructures is the prime factor contributing to its large share.
Geographically, this market is analyzed into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further segmented as per the nations bringing business. North America has the biggest market share for myasthenia gravis therapy. The growth in autoimmune disease evaluation, the existence of significant companies providing innovative medicines, the high incidence of myasthenia gravis, and the accessibility of improved healthcare infrastructure are all expected to drive the myasthenia gravis treatment industry. Moreover, Asia-Pacific is accounted to witness notable growth due to the increase in awareness campaigns regarding autoimmune diseases & available treatment options, rising number of autoimmune diseases, and rising investments for the development of effective treatment options for myasthenia gravis. In addition, in emerging economies upsurge in healthcare expenditure is anticipated to provide lucrative opportunities for market expansion, driving the myasthenia gravis treatment market.
Several organizations such as the government are counseling individuals regarding autoimmune diseases. E-commerce has become a vital tool for large and small businesses across the globe, due to the increase in the preference of consumers for online shopping as compared to traditional purchasing methods. Additionally, several animations through health apps to educate people regarding the usage of medications and myasthenia gravis have contributed toward the myasthenia gravis treatment market growth. Moreover, major market players have adopted strategic alliance, acquisition, product approval, expansion, and agreement as key developmental strategies to enhance the product portfolio of the myasthenia gravis treatment industry. For instance, in March 2021, Grifols a global healthcare company to improve the health and well-being of people worldwide announced to acquire GigaGen Inc. to boost a novel method to generate a broad range of immunoglobulins.
For instance, in April 2023, CSL Behring, a global biotechnology company, has received FDA approval for a 50mL/10gm prefilled syringe for Hizentra. CSL Behring offers a comprehensive variety of prefilled syringe sizes to satisfy the specific needs of persons suffering from Primary Immunodeficiency as well as Chronic Inflammatory Demyelinating Polyneuropathy.
The scope of this report covers the market by its major segments, which include as follows: