The global generalized myasthenia gravis (GMG) management market is set to experience robust growth, showcasing a compound annual growth rate (CAGR) of 7.6% from 2023 to 2033, as projected by Future Market Insights. With an impressive valuation of US$ 1.32 Billion in 2023, the market is anticipated to exceed US$ 2.96 billion by 2033.
The acceleration in CAGR is notably significant considering the market’s slower growth rate of 4.6% in 2020, as reported by Future Market Insights. This exponential surge underscores the industry’s resilience and potential for substantial revenue generation over the forecasted period.
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Generalized myasthenia gravis (GMG) is a neuromuscular disorder that affects a significant portion of the global population. According to the National Library of Medicine report, the incidence of GMG in the USA stands at 20 per 100,000 people, with varying prevalence across different age groups and geographical regions.
Females exhibit a higher prevalence of GMG among individuals under 40 years old, while males dominate among those over 50 years old. Moreover, childhood MG, though rare in Western populations, is prevalent in Asian nations, impacting approximately 50% of patients under the age of 15.
The rise in GMG prevalence in recent decades can be attributed to improved healthcare data and a general increase in the prevalence of diseases worldwide. This underscores the critical need for advanced management and treatment options to address the growing burden of GMG globally.
The projected growth of the global GMG management market reflects a collective effort by stakeholders to address the challenges posed by this debilitating condition. Through collaborative initiatives and technological advancements, the industry aims to enhance disease management strategies and empower patients with better treatment options.
Key Takeaways:
- On the global level, the disease’s incidence has risen substantially over recent years. This surge is attributed to increased disease awareness and diagnosis rates in both developed and developing nations. The nation’s massively improved reimbursement guidelines concerning the disorder are cruising sales growth.
- On the basis of the study conducted by the National Organization for Rare Disorders (NORD), the condition’s prevalence in the United Kingdom is estimated to be 15 per 100,000 people, a figure that has risen over time. The popularity of novel therapeutic approaches is growing in tandem with the escalating diagnosis speed and favorable reimbursement guidelines for the ailment.
- This is expected to surge the attempts of the industry’s prominent stakeholders in order to establish and obtain approval for novel drugs to treat the illness. The age structure of the population is expected to be another vital factor driving market growth.
- The proportion of people aged 80 and up in the EU population is predicted to more than double between 2021 and 2100, soaring from 6.0% to 14.6%. On the basis of the MDPI Journal of Clinical Medicine, the prevalence of the ailment surges progressively with age. The 60-89-year-old age group has the greatest incidence. As a result, the disease’s prevalence is increasing as the population’s average lifespan rises.
- On the basis of the 2020 epidemiology of myasthenia gravis article posted by Value in Health Journal, the older population comprises of higher incidence of the ailment than younger ages. Furthermore, in the United Kingdom, the pervasiveness of the disorder in the aging population was 46.4 per 100,000, in comparison to 12 per 100,000 in young adulthood.
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Competitive Landscape:
Key players in the global generalized myasthenia gravis (GMG) management market are strengthening the portfolio, pipeline, and treatment emphasis on unique disease treatments.
More Insights into the Generalized Myasthenia Gravis (GMG) Management Market:
The North American market is anticipated to dominate the global GMG management market. In 2020, the North American market was valued at worth USD 0.58 billion. The soaring incidence of the illness and the region’s aging population are the contributing factors to market growth during the forecast period. Furthermore, the region’s established healthcare facilities and favorable reimbursement policies are striving to improve diagnosis and therapy rates in both emerging and advanced economies.
Key Companies Profiled:
- Alexion Pharmaceuticals,
- Argenx,
- UCB Biopharma,
- Horizon Therapeutics,
- Halozyme Therapeutics,
- Hoffmann-La Roche AG,
- Janssen Research & Development, LLC,
- Immunovant Sciences GmbH,
- Sanofi,
- Cartesian Therapeutics
Key Segments Profiled in the Generalized Myasthenia Gravis (GMG) Management Industry Survey:
By Drug Types:
- Monoclonal Antibodies
- FcRn Inhibitors
- Corticosteroid
- Cholinesterase Inhibitors
- Pharmacotherapy
- Therapeutic Plasma Exchange
By End Users:
- Hospitals
- Specialty Clinics
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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