The global generalized myasthenia gravis (GMG) management industry size is projected to poise a robust growth rate by exhibiting a compound annual growth rate (CAGR) of 7.6% from 2023 to 2033. The global market size is expected to surpass an impressive valuation of US$ 1.32 Billion in 2023, the market is estimated to reach US$ 2.96 billion by 2033. According to the assessment conducted by Future Market Insights, the global generalized myasthenia gravis (GMG) management market grew at a slower pace of 4.6% in 2020 than the average annual growth from 2017 to 2019. The sharp rise in CAGR is due to this industry’s revenue and growth rate over the projection period.
According to a report by the National Library of Medicine report, the incidence of generalized myasthenia gravis (GMG) in the USA is 20 per 100,000 people. It has a female pervasiveness in those under 40 years old and a male primacy in those over 50 years old. Furthermore, childhood MG is rare in Western populations but familiar in Asian nations, affecting approximately 50% of patients under the age of 15. As per the reports, the disorder’s prevalence appears to have risen over the recent decades. This is attributed to the improved healthcare data, but diseases, in general, are becoming more common around the world.
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Generalized Myasthenia gravis (GMG) is an infrequent autoimmune disease that leads to the tiredness of the skeletal muscle and weakness attributed to the antibodies that consequently interrupt the interaction between muscles and nerves. With a geriatric population, the worldwide incidence of the disorder has risen over the past decade. Furthermore, several organizations, authorities, and sectors are meticulously working in the direction to raise public and individual awareness of the disorder. The diagnosis proportion among people is on the rise as the disease’s incidence and consciousness grow. The number of individuals requiring treatment is expanding significantly. Furthermore, prolonged innovation and research into new therapies with the patient populace’s present unmet medical needs are expected to lead to higher consumption of novel therapeutics over the projected timeframe.
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
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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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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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