Market Size of Neuromyelitis Optica Spectrum Disorder Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Neuromyelitis Optica Spectrum Disorder Market Analysis
The neuromyelitis optica spectrum disorder market is projected to register a CAGR of 6.2% during the forecast period.
- The COVID-19 pandemic had a severe impact on various markets, and its direct consequences have been multifaceted. While demand declined in some healthcare industries, several markets remain intact and may offer promising growth opportunities. The global COVID-19 outbreak and lockdown scenarios in various countries resulted in the shutdown of hospitals and clinics to prevent the spread of the SARS-CoV-2 virus.
- According to an article published by the National Center for Biotechnology Information (NCBI) in 2021, titled "The impact of COVID-19 pandemic on hospitalizations and plasmapheresis therapy in multiple sclerosis and neuromyelitis optica spectrum disorder: a nationwide analysis from Germany," there was a significant drop in multiple sclerosis and neuromyelitis optica spectrum disorder patient hospitalizations during the different pandemic periods in 2020, with the greatest reduction occurring during the pandemic's initial wave. The delayed or interrupted treatment due to the pandemic is thus increasing the risk of relapse in patients. With resumed services and procedures, hospital visits have increased, leading to an increase in demand for treatment over the forecast period.
- Several factors are propelling the growth of the market, including the increasing incidence and prevalence of neuromyelitis optica spectrum disorder (NMOSD), rising demand for better treatment options, increasing research and development activities, and product approvals. According to a research article published in the American Academy of Neurology in 2021, the highest estimates of the incidence and prevalence of NMOSD in the Afro-Caribbean region were 0.73 per 100,000 person-years and 10/100,000 persons, respectively.
- Furthermore, increasing research and development activities and product approvals by companies are also contributing to the growth of the market. For instance, in June 2021, Mitsubishi Tanabe Pharma Corporation received approval for UPLIZNA for the treatment of neuromyelitis optica spectrum disorder (NMOSD) in Japan. However, the high cost of therapy for neuromyelitis optica is projected to stifle market expansion.
