The high prevalence of multiple sclerosis greatly influences the growth of the neuromyelitis optica spectrum disorder (NMOSD) market. The expected number of people with MS has increased to 2.8 million in 2020 globally. Clinical development for NMOSD has steadily grown lately; there are three ongoing pipeline drugs in late-stage development. It has been witnessed that the monoclonal antibody drugs segment is anticipated to hold the largest share in this market segment.
Data Bridge Market Research shows that the Global Neuromyelitis Optica Spectrum Disorder (NMOSD) Market was valued at USD 405.9 million in 2021 and is expected to reach USD 651.84 million by 2029, registering a CAGR of 6.10% during the forecast period of 2022 to 2029.
" Increasing Monoclonal Antibody Drug Approvals Surge the Market Growth"
The growing monoclonal antibody drug approvals and increasing research and development activities by the market players for launching effective treatment options for patients with neuromyelitis optica spectrum disorder are also surging the market growth. For instance, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) granted market authorization to Horizon's UPLINZA as a monotherapy in 2021. It is used for the treatment of adult patients having neuromyelitis optica spectrum disorder (NMOSD) who tested positive for anti-aquaporin-4 immunoglobulin G ( (AQP4-IgG+) antibodies. Thus, this factor boosts market growth.
What restraints the growth of the Global Neuromyelitis Optica Spectrum Disorder (NMOSD) Market?
" High Cost of Neuromyelitis Optica Spectrum Disorder (NMOSD)"
The growing high costs associated with RD activities and the cost associated with new drug development combined with the threat of failure and adverse effects will emerge as one of the main limitations for the market. Neuromyelitis optica spectrum disorder (NMOSD) needs complex drug development processes, necessitating much-advanced diagnostic and treatment equipment and tools. All these major factors impede the growth of the market.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-neuromyelitis-optica-spectrum-disorder-nmosd-market
The Prominent Key Players Operating in the Global Neuromyelitis Optica Spectrum Disorder (NMOSD) Market Include:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (U.S.)
- Teva Pharmaceutical Industries Ltd.(Israel)
- Sanofi (France)
- Pfizer Inc. (U.S.)
- GSK plc (U.K.)
- Novartis AG (Switzerland)
- Zydus Cadila (India)
- Boehringer Ingelheim International GmbH. (Germany)
- Apotex Inc. (Canada)
- AstraZeneca (U.K.)
- Horizon Therapeutics PLC (Ireland)
- Bayer AG (Germany)
- Sun Pharmaceutical Industries Ltd. (India)
- LEO Pharma A/S (Denmark)
- Bausch Health Companies Inc. (Canada)
- Aurobindo Pharma (India)
- Lupin (India)
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