Global Guillain-Barre Syndrome Market Size

Guillain-Barre Syndrome Market Analysis

The Guillain-Barre Syndrome Market studied is anticipated to grow at a CAGR of 5.2% during the forecast period, 2022-2027.

The Guillain-Barre syndrome (GBS) market was significantly impacted by COVID-19. Patients with Guillain-Barre syndrome were advised to take extra precautions to minimize the risk of getting COVID-19. Moreover, Guillain-Barre syndrome patients may not show typical symptoms such as a high temperature, and they may also experience a higher-than-normal pain threshold, which may delay the diagnosis of COVID-19. Furthermore, the article titled "Guillain-Barré syndrome after SARS-CoV-2 infection in an international prospective cohort study" published in Oxford Academic in September 2021, suggested that a COVID-19 infection may cause Guillain-Barré syndrome. The article further detailed that from January 30 to May 30, 2020, researchers analyzed individuals as part of the International GBS Outcome Study (or IGOS), a global cohort of individuals with Guillain-Barré syndrome. During this time, the study included an additional 49 Guillain-Barré syndrome patients from China, Denmark, France, Greece, Italy, the Netherlands, Spain, Switzerland, and the United Kingdom. In this cohort analysis, 22% of the Guillain-Barré syndrome patients had a preceding COVID-19 infection in the first 4 months of the pandemic. Such studies greatly highlighted the need for diagnosis and treatment of GBS, thereby boosting the market's growth over the pandemic phase.

Furthermore, the major factors contributing to the growth of the studied market are the increasing geriatric population, the growing prevalence of GBS, and product approval due to accelerated drug developments.

The rise in the geriatric population propels market growth over the forecast period. For instance, according to the World Health Organization's 2021 updates, by 2030, 1 out of every 6 people across the globe will be 60 years old or older. The number of people aged 60 and up is expected to rise from 1 billion in 2020 to 1.4 billion by 2050. By 2050, the global population of people aged 60 and above will get doubled to reach 2.1 billion. Between 2020 and 2050, the number of people aged 80 and above is expected to triple, reaching 426 million. Furthermore, according to the study titled "Global, regional, and national burden of Guillain-Barré syndrome and its underlying causes from 1990 to 2019" published in the Journal of Neuroinflammation in November 2021, with growing age, the age-standardized burden of GBS increased and was higher in males across all age categories. The article provided first in-depth investigation of the prevalence and disability burden of Guillain-Barré syndrome (GBS) from 1990 to 2019 by cause, age, sex, and socio-demographic index (SDI) in 204 countries and territories. Thus, such instances are likely to propel the market's growth over the coming years.

In addition, the rise in new product approvals due to the accelerated drug approval initiative by the United States Food and Drug Administration is also boosting the market growth. For instance, in September 2019, Annexon Biosciences revealed that the United States Food and Drug Administration had granted fast-track designation to ANX005, a novel treatment for Guillain-Barré syndrome.

Thus, the aforesaid factors are likely to boost the growth of the market over the forecast period. However, higher challenges in the development stage, expensive patented products, and lack of awareness of the disease and effective treatment in the developing economies are the major restraining factors for the market studied.