LONDON, Sept. 18, 2023 /PRNewswire/ -- According to a comprehensive research report by Brandessence Market Research (BMRC), "Myasthenia Gravis Treatment Market Size, Share Outlook Growth By Top Company, Development, Application, Segmentation, Trends And Forecast 2022-2029"
Myasthenia Gravis is an autoimmune disorder which leads to the weakening of skeletal muscles. This disorder slows down the communication between muscles and nerves. In this condition, the immune system starts producing antibodies that end up targeting and attacking crucial receptors presence on muscle cells. This disease can stay lifelong in some people and there is no permanent cure for the same. Although certain treatments can prevent severity and reduce symptoms to some extent. Medications, stem cell transplantations, therapies, and other surgical interventions can help in treating this disorder.
This business intelligence report provides a deep-down assessment of the key trends and dynamics of this market space. The growth drivers, restrains, challenges, and opportunities are well explained in this study. By procuring this report, businesses can get make informed strategic decisions. Apart from that, it also includes credible statistical data such as past valuable, grow rate, along with revenue projections of this business sphere. The market segments, geographical landscape, and competitive terrain are thoroughly evaluated with an aim to provide businesses with an accurate understanding about the trends and dynamics of this market space.
Key Takeaways:
- Growing prevalence of autoimmune disorders, surge in the geriatric population base, and increased healthcare expenditure are augmenting industry outlook.
- By type, the drug treatment segment is poised to amass notable gains due to effectiveness of drugs in managing the symptoms of myasthenia gravis.
- MEA is projected to account for a high CAGR owing to the growing pervasiveness of neuromuscular disorders and increased awareness about autoimmune diseases.
Myasthenia Gravis Treatment Market is anticipated to amplify with a substantial CAGR over 2022-2029.
Myasthenia Gravis Treatment Market Report Scope:
Report Metric | Details |
Base Year | 2021 |
Study Period | 2022-2029 |
Key Players/Companies | Sun Pharmaceuticals Industries Ltd., Valeant Pharmaceuticals International, Novartis Pharmaceuticals Corporation, Piramal Healthcare, Teva Pharmaceutical Industries Ltd., Apotex Corporation, Cipla, RPG Life Sciences, Bristol-Myers Squibb Company, F. Hoffmann Roche La Ltd., AbbVie Inc., GlaxoSmithKline plc, Biogen Inc., Fresenius Kabi & Others |
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Elaborating the key trends and dynamics of Myasthenia Gravis Treatment Market:
Growing prevalence of autoimmune disorders, surge in the geriatric population base, and increased healthcare expenditure are the primary factors aiding the expansion of this business vertical. Furthermore, increased rare disease awareness, rising R&D activities, and rapidly evolving healthcare infrastructure are creating lucrative opportunities for this industry space to prosper. Alongside, surging pervasiveness of neuromuscular disorders and widespread technological advancements in the field are adding momentum to the progression of this market space.
Major growth drivers:
Growing awareness about autoimmune disorders- There has been a rising cognizance about immune disorders including myasthenia gravis across the globe. Growing government efforts to raise awareness on the same, increased literacy rates, and escalating demand for early diagnosis of diseases are contributing to the increased awareness levels of the masses. This in turn is stimulating the overall dynamics of this business vertical.
Surge in the geriatric population- The elderly populace is highly susceptible to autoimmune disorders like myasthenia gravis. This is because of the fact that the immune system weakens with age. Apart from that our neurological and muscular systems also stop functioning normally once we attain a certain age. These factors together are adding traction to the development of this industry sphere.
Challenges:
High treatment costs- Treatment options for rare disorders can be quite costly in nature. These treatment methodologies and products involve high end technologies, robust R&D activities, skilled professionals, and a well-equipped healthcare infrastructure. People with limited income find it very difficult to afford such treatments. This in turn is hindering the remuneration scope of this market space.
Competitive landscape of Myasthenia Gravis Treatment Market:
- Sun Pharmaceuticals Industries Ltd
- Valeant Pharmaceuticals International
- Novartis Pharmaceuticals Corporation
- Piramal Healthcare
- Teva Pharmaceutical Industries Ltd
- Apotex Corporation, Cipla, RPG Life Sciences
- Bristol-Myers Squibb Company
- F. Hoffmann Roche La Ltd
- AbbVie Inc
- GlaxoSmithKline plc
- Biogen Inc
- Fresenius Kabi.
- Others
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Segmental Assessment:
By type, the drug treatment segment is poised to amass notable gains over 2022-2029. This is due to effectiveness of drugs in managing the symptoms of myasthenia gravis along with the ease of consumption pertaining to these drugs.
Based on application, the hospitals and clinics segment is reckoned to garner significant returns over the stipulated timeline. This is ascribed to the presence of skilled professionals and well equipment treatment infrastructure across hospitals and clinics.
Geographical analysis & landscape:
Middle East & Africa Myasthenia Gravis Treatment Market:
MEA is projected to account for a high CAGR over the estimated timeframe. This is attributable to the growing pervasiveness of neuromuscular disorders, increased awareness about autoimmune diseases, along with surging R&D activities in the field. Alongside, rise in healthcare expenditure and widespread technological advancements are fuelling the growth of this regional industry.
Europe:
Europe is poised to capture a substantial market share over 2022-2029. This is credited to the surge in the geriatric population base, increased prevalence of myasthenia gravis, and growing R&D activities in the field. Moreover, rapidly evolving healthcare infrastructure and presence of prominent players are adding massive traction to the progression of this marketplace.
Opportunities in this industry:
Escalating demand for personalized treatment approach-
The symptoms of myasthenia gravis may vary from person to person. Certain treatment for work for some patients and may not be as effective for some. Thus, a personalized treatment approach tailored according to the genetic makeup of an individuals is quite crucial to treat this disease. This in turn is positively swaying the dynamics of this business vertical.
Major developments in Myasthenia Gravis Treatment Market:
Acquisitions:
In February 2021, Horizon Therapeutics, a biopharmaceutical company, acquired Viela Bio. The latter is focused on developing treatments for autoimmune and severe inflammatory diseases, including potential therapies for MG.
Porter's Five Forces Analysis:
Threat of New Entrants:
The threat of new entrants into the Myasthenia Gravis treatment market is relatively low. Developing new treatments for MG requires significant investment in research, clinical trials, and regulatory approvals. Additionally, the market is already served by established pharmaceutical companies and biotech firms with expertise in autoimmune diseases. Existing players also have patents and intellectual property that could create barriers for new entrants. Overall, the high costs, the complex regulatory environment, and the need for specialized knowledge act as deterrents for potential new competitors.
Bargaining Power of Suppliers:
The suppliers in the Myasthenia Gravis treatment market primarily include pharmaceutical manufacturers, research institutions, and suppliers of raw materials for drug production. Given the specialized nature of the market and the limited number of suppliers offering specific drugs for MG, they may hold some bargaining power. However, pharmaceutical companies often have multiple suppliers for key ingredients to reduce dependency and negotiate favorable terms. As long as the demand for MG treatments remains high, pharmaceutical companies can maintain a reasonably strong position in negotiations with suppliers.
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Bargaining Power of Buyers:
The buyers in this context are healthcare providers, hospitals, and patients. While individual patients may not have significant bargaining power due to the critical nature of MG treatments, healthcare providers and hospitals may exert some influence. They have the ability to choose between different treatment options and negotiate prices with pharmaceutical companies. In cases where multiple treatments are available, buyers can potentially switch to alternative therapies or seek more favorable pricing terms. However, in situations where a specific treatment is highly effective or there are limited alternative options, the bargaining power of buyers may be limited.
Threat of Substitutes:
The threat of substitutes in the Myasthenia Gravis treatment market is relatively low. MG is a complex autoimmune disease, and while there may be supportive therapies to manage symptoms, there are no direct substitutes for specific MG treatments. Immunosuppressive drugs, plasma exchange, and other symptomatic therapies are commonly used, but they do not directly address the underlying cause of the disease. As a result, the threat of substitutes remains low, and patients and healthcare providers heavily rely on specific MG treatments to manage the condition effectively.
Competitive Rivalry:
The competitive rivalry in the Myasthenia Gravis treatment market is moderate. Pharmaceutical companies and biotech firms with approved MG treatments compete for market share and physician adoption. However, the number of approved treatments is relatively limited, and some drugs may hold a dominant position in the market. The competitive landscape could evolve with the introduction of new treatments and ongoing research and development efforts. Additionally, strategic collaborations, mergers, and acquisitions can impact the competitive dynamics within the market.
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