Global Myasthenia Gravis (MG) Disease Market Garnered About USD 1.5 Billion in 2021; Surge in Neuromuscular Disorders and Rising Prevalence of Myasthenia Gravis to Promote the Market Growth During 2022-2031

New York, July 01, 2022 (GLOBE NEWSWIRE) — According to one of the statistics published by the National Center for Biotechnology Information (NCBI), the prevalence rate for Myasthenia Gravis (MG) varied from 150 to 200 cases per million. MG which is an antibody-mediated autoimmune disease is a rare neurological disease. In earlier years, the prevalence of MG was predicted to be 1 in 20,000, which then rose to 1 in 17,000 after the discovery of AChR antibodies in 1969. Incidence rates have been the subject of more recent investigators in Europe and they range widely from 4.1 to 30 cases per million person-years. Even so, the mortality rate of the disease is still in the middle of 5 and 9 percent and is marginally greater in men than in women.

A recent report by Kenneth Research, titled “Global Myasthenia Gravis (MG) Disease Market”, gave a quick rundown of market components, including growth drivers, restraint factors, current market trends, and potential for future growth. The market research report, which is studied for the forecast period, i.e., 2022 – 2031, thoroughly examines the impact of COVID-19 and its consequences on end-users. The research study further looks at the main competitor’s product portfolios and future market expansion strategies.

According to one of the studies shared by the NCBI, every year, almost 13 million patients were known to have neuromuscular diseases (NMD). Further, in the year 2019, among 28,230 active patients, 223.6 patients had ever experienced an NMD diagnosis, with men having a greater rate of 239.0 than women which is 208.3. Of that, 33.7 had myasthenia gravis. The prevalence had increased overall by 63 percent from the past previous years, with the geriatric population (65 and older) experiencing the biggest increases. Even though the total incidence remained stable, the incidence of myasthenia gravis has progressively increased from previous years. These rising cases of neuromuscular disorders, increasing prevalence of the myasthenia gravis, and also development in the biotechnological sector can be attributed to the growth of the market. The global myasthenia gravis (MG) disease market garnered around USD 1.5 billion in the year 2021 and is further expected to grow at a CAGR of ~10% over the forecast period.

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The global myasthenia gravis (MG) disease market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The North American market among these areas experienced modest growth in 2021. The improved facilities present in the clinical setups in this area is one of the major factors anticipated to drive the growth of the market in the region. For instance, there were around 6000 hospitals in the US in 2019. Moreover, the increasing prevalence of the disease in the region is also expected to contribute to the growth of the market in the coming years. As per the report given by the Myasthenia Gravis Foundation of America, the prevalence of MG disease is estimated to be 14 to 20 people out of every 100,000 people in the United States.

On the other hand, the market in the Asia Pacific region is predicted to grow with a significant CAGR over the forecast period. Increased government and private sector efforts to develop effective treatments, rising public awareness of neuromuscular disorders, and significant advancements in the region’s healthcare systems are some of the major factors contributing to the growth of the market. In one of the other studies shared by the NCBI, the prevalence rate for Myasthenia gravis disease among people in Hong Kong (China) resulted in 262 individuals, which included 159 adults and 103 children, with point and period prevalence of 53.5 and 62.2 per million respectively. Besides this, the average annual incidence of the disease was 4.0 per million people. The statistical report further stated that 9 patients passed away, out of which, 7 of them suffered from MG, thereby providing a case fatality rate of 0.027.

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The study further incorporates Y-O-Y Growth, demand & supply and forecasts future opportunities in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC[Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America(Brazil, Mexico, Argentina, Rest of Latin America), Asia- Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific), Middle East and Africa(Israel, GCC [ Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa).

The global myasthenia gravis (MG) disease market is segmented by treatment into medication, surgery, therapy, and others. The therapy segment is among those, that is anticipated to experience significant growth in the coming years. The therapy segment is further classified into thymectomy, monoclonal antibody, plasmapheresis, and intravenous immunoglobulin. The thymectomy segment is anticipated to have the greatest market value of these by expanding at a significant CAGR over the forecast period. In order to reduce the symptoms by harmonizing the immune system, the thymectomy procedure is performed, a process that involves the removal of the thymus gland. The expansion of the segment can also be linked to the success of the thymectomy procedure as it results in painless conclusions. Based on one of the studies shared by NCBI, exacerbations are treated with intravenous immunoglobulin (IVIg) or plasmapheresis. Their primary benefit is the rapid onset of the effect of the drug. Typically, 3 to 5 plasma exchanges or IVIg infusions (1.2 to 2g/b.w.) are given over a period of 2 to 5 days. Also, whenever a thymoma is suspected, a thymectomy is advised. In patients with unstable myasthenia gravis who are younger than 50 years old, the possibility of thymectomy is addressed.

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The global myasthenia gravis (MG) disease market is segmented by end-users into hospitals, clinics, retail pharmacies, and others. Out of these, the hospitals segment is anticipated to garner a moderate revenue by the end of 2031, backed by the rising number of patients visiting the hospitals for the treatment of MG disease. For instance, 94638 hospital admissions for 59243 MG patients were recorded in China during the period 2016 and 2018. In addition to that, the mortality rate from the disease during admission to these hospitals was 14.69 percent. Further, there were 14,840 patients with thymomas, which included 204 (7.1%) children and 14636 (26.5%) adults.

Some of the leading industry leaders in the global myasthenia gravis (MG) disease market that are included in our report are Alexion Pharmaceuticals, Inc., AbbVie Inc., argenx SE, GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd., Novartis AG, Bausch Health Companies Inc., Avadel, Grifols, S.A., Pfizer Inc., and others.

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