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The global neuromyelitis optica spectrum disorder (NMOSD) market size is estimated to grow/decline by USD 173.48 million at a CAGR of 6.16% between 2022 and 2027.
The growing geriatric population is driving the market growth. NMOSD is an autoimmune demyelinating disease that involves demyelination of mostly the optic nerves and spinal cord and is primarily observed in the elderly population. According to the National Institutes of Health (NIH), it is more prevalent in people above 50 years of age. Some optical disorders that have a higher risk of development with age include cataracts, glaucoma, and dry eye syndrome.
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The market share growth by the hospitals segment will be significant during the forecast period, as indicated by market forecasting. Multi-specialty hospitals and private hospital groups that operate on government or private sponsorships work in close collaboration with medicine suppliers and government bodies to purchase medicines and consumables in bulk, reflecting market growth and trends.
The presence of a well-equipped medical infrastructure helps in the diagnosis and monitoring of chronic diseases, aligning with market analysis and report. The treatment and monitoring of chronic diseases are generally conducted in an outpatient facility by skilled staff. Technologically advanced methods such as magnetic resonance imaging (MRI) are used primarily in the diagnosing of NSMOD, showcasing market forecast.
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The hospitals segment was valued at USD 196.59 million in 2017. There are several mid-sized hospitals that work with local industries, have fewer hospital beds (200-300), and have a decentralized administration compared to multi-specialty hospitals, as observed in market trends and analysis. Additionally, they have skilled professionals and continuous treatment for symptomatic and curative treatment, contributing to market growth analysis. These factors will also propel the growth of the global neuromyelitis optica spectrum disorder market during the forecast period, aligning with market research and growth and market growth and forecasting.
The Neuromyelitis Optica Spectrum Disorder (NMOSD) Market occupies a unique position within the rare disease market and neurological disorder market, offering specialized therapeutic options for patients. As research into disease pathophysiology advances, novel treatment options emerge, expanding disease management strategies and improving patient care. Clinical trials focusing on immunotherapy contribute to the evolution of the neurology market, driving medical innovation and enhancing symptom management techniques.
Increased disease awareness among healthcare professionals and patients fosters collaboration in research and development efforts, shaping the landscape of the healthcare market and pharmaceutical industry. With a focus on drug development and specialized medications, the NMOSD Market addresses the unique needs of patients in the specialty medicine market, providing hope for improved outcomes and enhanced quality of life.
The growth of the with Aquaporin-4 (AQP4) antibodies segment, an antigen found in more than 75% of NSMOD patients. Patients with AQP4 antigens might have attacks of the AQP4 protein in the brain, spinal cord, and optic nerve. One of the drugs used to prevent relapsing NSMOD in these patients is Ecluzimab, a terminal complement inhibitor. Hence, drugs and treatment methods for the population with AQP4 antibodies are expected to result in the growth of the global neuromyelitis Optica spectrum disorder during the forecast period.
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North America is estimated to contribute 37% to the growth of the global during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the during the forecast period. Within North America, the largest region in the global neuromyelitis Optica spectrum disorder, the US and Canada are the largest markets due to the presence of pharmaceutical giants in the region, and a higher prevalence rate of neuromyelitis Optica spectrum disorder. This has witnessed growth due to the growing geriatric population, increased screen time, and awareness of the condition and its treatment.
Additionally, numerous pharmaceutical companies are involved in the manufacture and sales of neuromyelitis optica spectrum disorder drugs in North America including Genetech and Viela bio. These factors are likely to boost the growth of the during the forecast period.
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industries are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence. The report also includes detailed analyses of the competitive landscape of the market and information about 9 key industries, including:
AstraZeneca - The company offers Ultomiris for the treatment of neuromyelitis optica spectrum disorder.
Qualitative and quantitative analysis of industries has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key players. Data is qualitatively analyzed to categorize industries as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize industries as dominant, leading, strong, tentative, and weak.
Key Drivers
The growing geriatric population is driving the growth. NMOSD is characterized by demyelination of the optic nerves and spinal cord and is primarily found in the elderly population. Asia is a highly lucrative region for disorders like NSMOD due to its growing geriatric population. However, North America and Europe hold the major shares in the owing to higher investments in the healthcare sector. Some age-related eye disorders include age-related macular degeneration (AMD), diabetic eye disease, and low vision.
Additionally, the likelihood of developing dry eye syndrome increases with age due to reduced tear production. Hence, the above factors are likely to increase the demand for neuromyelitis Optica spectrum disorder drugs which will result in growth during the forecast period.
Advances in the treatment of NMOSD is a key trend. Several prescriptions for the treatment of NMOSD are available with a varying range of drugs, mechanisms, and endpoints. Generally, they serve as the first line of therapy along with anti-coagulant medications, such as corticosteroids (glucocorticoid), azathioprinol, or RITUXIMAB for NMOSD patients. For and as the second line of treatment for NMOSD patients they are used in combination with immunosuppressants like Methotrexate and Mitoxantrone.
Additionally, there is research into refining existing strategies for the treatment of long-term disability and mortality associated with NMOSD with stem cell therapy being part of it. It gives various advantages including regulation of immune response and promoting local tissue repair and regeneration. This suggests there is a therapeutic potential of hUC-MSC to treat autoimmune disorders like NSMOD. Furthermore, research grants such as those done by Sumaira Foundation in 2022 to provide nonprofit organizations, researchers, and institutions funds for research into prevention and treatments for NMOSD. Hence, the above factors are likely to increase the growth of the during the forecast period.
The high costs of NMOSD treatment are challenging the growth. Due to the lack of proper treatment, treatment only helps sustain symptoms to a degree. Drugs prescribed include corticosteroids, azathioprine, and new immunosuppressive treatments, including eculizumab, satralizumab, and inebilizumab. They are usually very expensive, with the annual cost of taking four 300 mg vials of eculizumab every two weeks being approximately USD 400,000. Hence, the high costs of adhering to treatment prescriptions are likely to hinder the growth of the during the forecast period.
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The report includes the adoption lifecycle of the, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Neuromyelitis Optica Spectrum Disorder Market Scope |
|
Report Coverage |
Details |
Page number |
138 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.16% |
Market growth 2023-2027 |
USD 173.48 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
6.1 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Canada, UK, China, and India |
Competitive landscape |
Leading industries, Market Positioning of industries, Competitive Strategies, and Industry Risks |
Key companies profiled |
AstraZeneca, Biogen Inc., Chugai Pharmaceutical Co. Ltd., F. Hoffmann La Roche Ltd., HBM Holdings Ltd., Horizon Therapeutics Plc, TG Therapeutics Inc., Mitsubishi Chemical Group Corp., and Opexa Therapeutics Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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