Myasthenia Gravis Treatment Market Rising in United States | Fortune Business Insights
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 InsightsTM 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.
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North America |
United States, Canada and Mexico |
|
Europe |
Germany, UK, France, Italy, Russia and Turkey
etc. |
|
Asia-Pacific |
China, Japan, Korea, India, Australia, Indonesia,
Thailand, Philippines, Malaysia and Vietnam etc. |
|
South America |
Brazil, Argentina, Columbia etc. |
|
Middle East & Africa |
Saudi Arabia, UAE, Egypt, Nigeria and South
Africa |
Considerable
Decline in Hospital Tourism during the Pandemic to Hamper Market Growth
The
COVID-19 pandemic had a negative influence on the myasthenia gravis treatment
market. Immunosuppressive drugs are commonly used, which weaken the immune
system. As a result, these people are vulnerable to infections, such as
COVID-19. As a result, during the pandemic in 2020, patient footfall at
hospitals and clinics decreased significantly. Key manufacturers faced supply
chain challenges and drug trial roadblocks. Furthermore, prominent companies
expected considerable revenue from the novel medicines but saw a drop due to a
disturbance in the treatment of myasthenia gravis patients.
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 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.
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.
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