According to the latest report published by Acute Market Reports “Devic’s Syndrome (Neuromyelitis Optica) Treatment Market – Growth, Future Prospects and Competitive Analysis, 2019-2027,” the global Devic’s syndrome (neuromyelitis optica) treatment market was valued at USD 156.8 Mn in 2018, and is expected to reach USD 447.9 Mn by 2027, expanding at a CAGR of 12.0% from 2019 to 2027.
Devic’s syndrome is also known as neuromyelitis optica which is a central nervous system disorder that specifically affects eye nerves and spinal cord. In Devic’s syndrome, inflammation and florid demyelination comprises several segments of spinal cord along with optic nerves affected due to related axonal loss, vascular proliferation, and perivascular lymphocytic infiltration. Neuromyelitis optica is a repeatedly reverting inflammatory disease with a preference for optic nerves and spinal cord. According to research studies, the incidence of NMO per 100,000 population ranges from 0.05 to 0.4, while the prevalence per 100,000 population ranges from 0.052 to 4.4. However, on 27 June 2019, the USFDA approved Soliris (eculizumab) for IV application specifically for the treatment of neuromyelitis optica in adult patients having anti-aquaporin-4 (AQP4) antibody positive. According to market experts, this approval is expected to change the landscape of therapy for patients with neuromyelitis optica. An approved therapy for this disorder is the result of extensive work carried out with pharmaceutical companies to accelerate the development and approval of safe & effective treatments for patients with neuromyelitis optica.
In 2017, methylprednisolone was identified as the largest drug segment in Devic’s syndrome treatment market due to key market trends such as being most preferred choice of drug for Devic’s syndrome treatment, rising awareness related to Devic’s syndrome, and strong drug pipeline will assist the growth of overall market in the near future. During forecast period from 2019 to 2027, Eculizumab was identified as the fastest growing drug in Devic’s syndrome treatment market because it’s a novel drug recently approved by USFDA specifically for neuromyelitis optica or Devics syndrome.
Market Competition Assessment:
The Devic’s syndrome treatment market will grow at a significant growth and major companies present in this market are focusing on research & development of target-specific drugs for Devic’s syndrome treatment. The foremost market strategies applied by companies operating in this market are rising awareness related to perfect diagnosis and treatment of Devic’s syndrome along with availability & accessibility of patients to use recently launched target specific drugs. The companies present in this market are Alexion Pharmaceuticals Inc., Teva Pharmaceuticals, Fresenius Kabi AG, Pharmacia & Upjohn, Sagent Pharmaceuticals, Inc., Sandoz, Inc., and Mylan Pharmaceuticals, Inc. among others.
Key Market Movements:
- Rising awareness related to orphan diseases and evolving diagnostic technology is anticipated to assist the overall growth of Devic’s syndrome in the near future
- Promising drug pipeline and recent drug launch for Devic’s syndrome treatment will help the growth of Devic’s syndrome treatment market throughout the forecast period
- Eculizumab anticipated to assist the substantial growth of Devic’s syndrome treatment market throughout the forecast period
Browse the full report Devic’s Syndrome (Neuromyelitis Optica) Treatment Market – Growth, Future Prospects and Competitive Analysis, 2019-2027 report at https://www.acutemarketreports.com/report/devics-syndrome-treatment-market
The Global Devic’s Syndrome (Neuromyelitis Optica) Treatment Market is Segmented into:
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*Complete segmentation list is on report page
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