Neuromyelitis Optica Spectrum Disorder Market to grow by USD 173.48 million from 2022 to 2027 | The growing geriatric population drives growth - Technavio

NEW YORK, Sept. 1, 2023 /PRNewswire/ -- The neuromyelitis optica spectrum disorder market to grow by USD 173.48 million at a CAGR of 6.16% from 2022 to 2027, according to the latest research report from Technavio. The growing geriatric population drives the growth of the NMOSD market. This condition is primarily found in the elderly population as it is characterized by demyelination of the optic nerves and spinal cord. Furthermore, Asia is a highly lucrative region for disorders due to its growing geriatric population but North America and Europe hold the major shares in the market owing to higher investments in the healthcare sector. Hence, such factors increase the demand for neuromyelitis Optica spectrum disorder drugs which will result in market growth during the forecast period. Discover Pharmaceuticals industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report!

Company Landscape

The competition in the global neuromyelitis optica spectrum disorder market is moderate due to the presence of several small-scale and large-scale vendors that compete through organic and inorganic growth strategies. Key vendors hold a significant share of the market. Established vendors have strong financial resources and technical expertise to focus on products R&D. The neuromyelitis optica spectrum disorder market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.

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Company Offerings

• AstraZeneca - The company offers Ultomiris for the treatment of neuromyelitis optica spectrum disorder.
• Biogen Inc. - The company offers Rituximab for the treatment of neuromyelitis optica spectrum disorder.
• Chugai Pharmaceutical Co. Ltd. - The company offers Satralizumab for the treatment of neuromyelitis optica spectrum disorder.

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Key Market Segmentation

Technavio has segmented the market into Application (hospitals, specialty clinics, and homecare), Type (aquaporin-4 antibodies and without aquaporin-4 antibodies), and Geography(North America, Europe, Asia, and the Rest of the World (ROW)). 

• The hospitals segment will be significant during the forecast period. Various mid-sized hospitals that work with local vendors, have fewer hospital beds (200-300) and have a decentralized administration compared to multi-specialty hospitals. Also, they have skilled professionals and continuous treatment for symptomatic and curative treatment and the treatment and monitoring of chronic diseases are generally conducted in an outpatient facility by skilled staff. Hence, such factors drive the hospitals segment of the neuromyelitis optica spectrum disorder market during the forecast period.

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Regional Market Outlook

• North America will contribute 37% to the growth of the global market during the forecast period. The US and Canada are the largest markets in the region owing to the presence of pharmaceutical giants in the region, and a higher prevalence rate of neuromyelitis Optica spectrum disorder. Also, factors such as the growing geriatric population, increased screen time, and awareness of the condition and its treatment drive the growth of the regional market. Hence, all such factors drive the market in focus in the North American region during the forecast period.

For more key highlights on the regional market share of most of the above-mentioned countries.- View Sample Report

Companies Mentioned

• 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.
• Opexa Therapeutics Inc.

Market Dynamics

The high costs of NMOSD treatment challenge the growth of the market. Treatment only helps sustain symptoms to a degree and factors like the lack of proper treatment pose a threat to the market growth. Furthermore, drugs prescribed include corticosteroids, azathioprine, and new immunosuppressive treatments. The treatments include eculizumab, satralizumab, and inebilizumab and 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, such challenges impede the growth of the market during the forecast period.

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Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US
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SOURCE Technavio