Myasthenia Gravis Treatment Market Size, Share & Growth Analysis,  | With CAGR of 7.5%
As per the report by Fortune Business Insights, the global Myasthenia Gravis Treatment Market size is projected to reach USD 2.03 billion in 2028, at a CAGR of 7.5% during the forecast period, 2021-2028
Pune, India, Dec. 06, 2023 (GLOBE NEWSWIRE) — Global Myasthenia Gravis Treatment Market Size was valued at USD 1.15 billion in 2020 and is projected to grow from USD 2.03 billion by 2028 exhibiting a CAGR of 7.5% during forecast period. Rising Geriatric Population in North America to Augment Market Growth, Key Players to Work on the Introduction of Innovative Drug Therapies.
This information is provided by Fortune Business Insights™ in its research report titled Myasthenia Gravis Treatment Market, 2021-2028.
Key Industry Development-
- 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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Key Takeaways –
- Myasthenia Gravis Treatment Market size in North America was USD 0.56 billion in 2020.
- Rising Prevalence of Myasthenia Gravis to Augment Demand for Treatment.
- Better reimbursement policies in countries are boosting market growth.
- The IVIg segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- 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)
Report Scope & Segmentation:
|2021 to 2028
|Forecast Period 2021 to 2028 CAGR
|2028 Value Projection
|USD 2.03 Billion
|Myasthenia Gravis Treatment Market Size in 2020
|USD 1.15 Billion
|Historical Data for
|2017 to 2019
|No. of Pages
|Drug Class, By Distribution Channel and Geography
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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 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.
By Drug Class
- Cholinesterase Inhibitors
- Monoclonal Antibodies
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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.
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.
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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.
How big is the Myasthenia Gravis Treatment Market?
Myasthenia Gravis Treatment Market size was USD 1.15 billion in 2020. It is expected to reach USD 2.03 billion in 2028.
How fast is the Myasthenia Gravis Treatment Market growing?
The Myasthenia Gravis Treatment Market will exhibit a CAGR of 7.5% during the forecast period, 2021-2028.
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