Neuromyelitis Optica Spectrum Disorder Treatment Market is Expected to Reach $410.41 mn by 2023
The Neuromyelitis Optica Spectrum Disorder Treatment Market was valued at US$ 341.27 million in the year 2019 and is estimated to reach US$ 410.41 million by 2023, at a CAGR of 4.72%.
Neuromyelitis Optica Spectrum Disorder (NMO) otherwise denoted as the Devic disease is a type of debilitating disorder that severely affects the Central Nervous System through a demyelinating autoimmune inflammatory process. It is mainly characterized by attacks of bilateral or unilateral optic neuritis and acute myelitis. Demyelination is seen mainly in the spinal cord and the optic nerves with 85% or more cases associated with only aquaporin-4 antibodies.
NMO has two forms namely the relapsing form that has periodic flare-ups and the monophasic forms with a single attack lasting more than thirty days. NMO accompanies with symptoms such as loss of vision, eye pain, paralysis of arms and legs, continuous vomiting, hiccups and loss of bowel, bladder control resulting in faecal and urinary incontinence.
Orphanet estimated the prevalence of NMO to be around 1-10 per 100,000 individuals, worldwide. According to studies conducted worldwide, the incidence of NMO per 100,000 population ranges from 0.053 to 0.40 and a prevalence rate per 100,000 individual’s ranges from 0.52 to 4.4. Besides, more incidence of Neuromyelitis Optica Spectrum Disorder has been reported in individuals with African ancestry.
No specific treatment is available for Neuromyelitis Optica. However, symptomatic treatment is prescribed that involves a standard treatment of corticosteroids in cases of acute attacks; alternatively, plasma exchange is suggested for patients who do not respond for corticosteroids. Besides, immunosuppressive agents are used as first-line therapy for long term suppression of the disease.
The major drivers for Neuromyelitis Optica Spectrum Disorder treatment market include increased incidence of NMO, increased pipeline products and government initiatives, orphan designation by FDA. Unavailability of disease-specific treatment and lack of expertise about Neuromyelitis Optica are major market restraints.
Investment in R&D activities and development of novel drugs effective to improve relapse symptoms, stop disease progression, maintain disease remission and restore neurological functions will impact the market growth positively in the forecast period. Increasing awareness of Neuromyelitis Optica spectrum disorder by educating people and developing early diagnosis methods, differential diagnosis from multiple sclerosis might aid the market growth.
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Major companies for the Treatment of Neuromyelitis Optica Spectrum Disorder include F. Hoffmann-La Roche Ltd, Chugai Pharmaceutical Co., Ltd., AstraZeneca, Alexion Pharmaceuticals, Inc, Viela Bio and many more …. According to clinicaltrials.gov, there are around 30 active interventional trials for the treatment of Neuromyelitis Optica Spectrum Disorder at present.
- Chugai Pharmaceutical Co., Ltd. announced that the European Medicines Agency (EMA) and U.S. Food and Drug Administration (FDA) has accepted the Marketing Authorization Application for satralizumab
- Recently U.S. Food and Drug Administration approved Soliris (eculizumab) injection for intravenous use for the treatment of neuromyelitis optica spectrum disorder
Based on Treatment (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
- Immunoglobulin Therapy
- C5 Protein Inhibitor
- Immunosuppressive Drugs
Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Neuromyelitis Optica Spectrum Disorder Treatment Market, 2015 to 2019
- Forecast of the Neuromyelitis Optica Spectrum Disorder Treatment Market Growth till the year 2023
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Neuromyelitis Optica Spectrum Disorder Treatment Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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