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Myasthenia Gravis Treatment Market Size to Grow at a CAGR of 7.8% During the Forecast Period 2021-2026

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Myasthenia Gravis Treatment Market Size to Grow at a CAGR of 7.8% During the Forecast Period 2021-2026

March 18
22:19 2021
Myasthenia Gravis Treatment Market Size to Grow at a CAGR of 7.8% During the Forecast Period 2021-2026

Myasthenia Gravis Treatment Market
Increasing Awareness of Rare Diseases Are Amongst the Major Factor Projected to Impel Growth of Myasthenia Gravis Treatment Market.

Myasthenia Gravis Treatment Market size was valued at $1.6 billion by 2020 and is anticipated to reach $2.2 billion by 2026 growing at a CAGR of 7.8% during the forecast period 2021-2026. The Myasthenia Gravis Treatment market growth rate is attributed to the rising focus on research and developmental activities. Thus, the several drugs are in pipeline under clinical development phases which are poised to get approved in the forecast years offering targeted treatment options in the management of myasthenia gravis and are anticipated to create new opportunities. Myasthenia gravis (MG) is a type of chronic neuromuscular autoimmune disease that causes arm and leg weakness in the skeletal muscles. Symptoms of myasthenia gravis are double vision, facial paralysis, trouble walking, dropping eyelids. Tests such as the repeated nerve stimulation test, blood test for antibodies, edrophonium test, computed tomography (CT) and magnetic resonance imaging tests are used to diagnose this disease (MRI). Drugs containing corticosteroids (azathioprine and cyclosporine) and inhibitors of acetylcholine esterase (Edrophonium and Pyridostigmine) are used to treat MG. In the U.S., about 14-40 per 100,000 individuals suffer from myasthenia gravis, according to the National Association for Rare Disorders (NORD). Furthermore, studies conducted over the past few years, the prevalence of the disease has been rising. This can be attributed to improved patient recognition and the growing prevalence of autoimmune disorders in the world in general. Moreover, the developments of new therapeutic targets to treat myasthenia gravis have opened a promising avenue for future growth of myasthenia gravis market. However, owing to the cost of treatment still remains high for the disease are the major barriers that restrain the market growth.

Myasthenia Gravis Treatment Market Segment Analysis – By Treatment Type

On the basis of treatment mode, web-based segment accounted for the largest segmental revenue of the Myasthenia Gravis Treatment market in 2020. In order to develop clinical and business needs across the continuum of care, web-based RIS is designed to help link patient information to any desired destination. McKesson’s RIS, for example, features a wide variety of Electronic Health Records (EHR) and provides cloud-based and server-based solutions, improving the workflow of physicians and quality care.
On the contrary, cloud-based segment of graft substitute type is anticipated to witness significant growth rate of 8.1% along the forecast period 2021-2026 owing to increasing usage technical solutions, such as Myasthenia Gravis Treatment and analytical sources, strengthened healthcare institutions and services, the modernization of operations and approaches. On external servers, cloud-based systems store data where it can be accessed through the network, needing only a device with an internet connection.

Myasthenia Gravis Treatment Market Segment Analysis – By End Use

On the basis of end user, hospitals segment accounted for the largest segmental revenue of the Myasthenia Gravis Treatment market in 2020 owing to a large patient pool and high demand for advanced equipment for MG treatment in hospital settings. There has been an increase in the number of patient visits for diagnosis and treatment of MG due to the availability of a broad range of treatment options in such facilities. Furthermore, one of the major factors contributing to its large share is the increased investment in state-of-the-art healthcare infrastructures are anticipated to stimulate market growth during the forecast period 2021-2026.
However, the clinics are poised to hold the highest growth rate with a CAGR of 8.02% over the forecast period 2021-2026. This is owing to the facts that growing need for specialized treatments, a lot of patients are preferring specialty clinics for rapid diagnosis and effective MG treatment. A large segment of the end-users also depend on e-commerce channels for obtaining therapeutics for myasthenia gravis, and is anticipated to support the growth of the Myasthenia Gravis Treatment Market.

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Myasthenia Gravis Treatment Market Segment Analysis – By Geography

North America is the major region dominating the Myasthenia Gravis Treatment market with a market share of 37.2% in the year 2020. This can be attributed to the high adoption of immunotherapies and monoclonal antibodies, increasing healthcare expenditure and favorable reimbursement scenario, resulting in patient compliance over the forecast period 2021-2026. Furthermore, the developed North American countries like the US and Canada have well-structured and development healthcare systems. These countries also promote research and development for rare diseases and hence have very high expenditure on healthcare. As a result of these policies, many companies globally are encouraged to operate in this region and is anticipated to make this a lucrative segment by signaling tremendous potential in the region.
However, Asia-Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to the increase in revenue generation from medications such as immunosuppressant’s and monoclonal antibodies. Moreover, initiatives associated with increasing investments in the healthcare sector by the governments and manufacturers in the region are poised to show potential growth in the forecast period 2021-2026.

Myasthenia Gravis Treatment Market Drivers

Consistent Activities for Research and Development

The Myasthenia Gravis Treatment market is poised to receive upswing owing to consistent research and development activities that are anticipated to propel growth of the myasthenia gravis treatment market. Moreover, Argenx BVBA is conducting a clinical phase III study of ARGX-113 for treatment of generalized myasthenia gravis. ARGX-113, also named Efgartigimod, is administered intravenously and the study is poised to complete by June 2021.

Myasthenia Gravis Treatment Market Challenges

Side Effects of the Drugs

Despite several drivers, side effects of the drugs used for treating myasthenia gravis are anticipated to hamper growth of the myasthenia gravis treatment market. For instance, according to BioNews Services, LLC report, in April 2019, high dose combination of Cholinesterase Inhibitors (ChEIs) and Calcineurine Inhibitors (CNIs) such as Mestinon and Prograf are responsible for severe muscle cramps in myasthenia gravis patients. Furthermore, the cost of treatment still remains high for the disease coupled with patent loss of several marketed products and the availability of low-priced substitutes to branded drugs in the market, which in turn is poised to impact the revenue growth in the forecast period 2021-2026.

Myasthenia Gravis Treatment Landscape

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Myasthenia Gravis Treatment Market. In 2020, Myasthenia Gravis Treatment Market share is fragmented by the top ten players present in the market. Myasthenia Gravis Treatment Market top 10 companies are Alexion Pharmaceutical Inc., Grifols SA, Avadel Pharmaceuticals plc. Novartis AG, Pfizer, Inc., AbbVie Inc., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Bausch Health Companies Inc., Shire plc. Alexion Pharmaceuticals, Astellas Pharma and others.

Acquisitions/Product Launches

In May 2020, Argenx announced positive topline data from the pivotal ADAPT trial of efgartigimod. ADAPT met its primary endpoint defined as percentage of responders on the Myasthenia Gravis Activities of Daily Living (MG-ADL) score among acetylcholine receptor-antibody positive (AChR-Ab+) generalized myasthenia gravis (gMG) patients.

Key Takeaways

North America dominated the Myasthenia Gravis Treatment market with a share of 37.2% in the year 2020.

The factors such as rising adoption of immunotherapies, the approval of promising drugs, the emergence of biologics, and increasing awareness of rare diseases are amongst the major factor projected to impel growth of Myasthenia Gravis Treatment Market.

Rapidly rising population with myasthenia gravis in emerging countries and serving the untapped geriatric population with autoimmune disease creates lucrative opportunities paving a way for the growth in the market during forecast period 2021-2026.

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