Neuromyelitis Optica Spectrum Disorder (NMOSD) Market is expected to reach USD 651.84 million by 2029

Neuromyelitis optica spectrum disorder (NMOSD) is a chronic brain and spinal cord ailment characterized by inflammation of the optic nerve (optic neuritis) and spinal cord inflammation (myelitis). It was once thought to be a monophasic condition, with periods of inflammation of one or both optic nerves and the spinal cord lasting only a few days or weeks and no recurrence beyond the initial episode. According to new research, most individuals who meet the existing criteria for NMOSD have many attacks separated by periods of remission. This condition is also termed as Devic disease.

Data Bridge Market Research analyses that the 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. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

View Detailed Report@ https://www.databridgemarketresearch.com/reports/global-neuromyelitis-optica-spectrum-disorder-nmosd-market

Market Definition

NMOSD (neuromyelitis optica spectrum disorder) is a central nervous system inflammatory ailment that was previously known as Devic disease or neuromyelitis optica (NMO). It's a devastating, life-long disease marked by spinal cord inflammation and optic nerve. Paralysis, muscle weakness, and blindness are common neuromyelitis optica spectrum disease symptoms. Non-Caucasian women are more likely to have neuromyelitis optica spectrum disorder. Genentech's Satralizumab is currently through a phase III clinical trial. It's a humanized monoclonal antibody that targets the IL-6 receptor in clinical trials. It's being tested to examine whether it can help with neuromyelitis optica spectrum disorder (NMOSD).

Neuromyelitis Optica Spectrum Disorder (NMOSD) Market Dynamics
Drivers

Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of neuromyelitis optica spectrum disorder (NMOSD) market is the rising healthcare expenditure which helps in improving its infrastructure. Along with this, for better patient outcomes, manufacturers in the market for treating optic nerve disorders are teaching healthcare professionals about drug-specific factors of topical ocular corticosteroids, such as AE profile, potency, and patient-specific administration needs. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

High prevalence of multiple sclerosis (MS)
The high prevalence of multiple sclerosis is expected to act as a major driver for neuromyelitis optica spectrum disorder (NMOSD) market's growth. MS is an autoimmune disease in which the immune system assaults healthy bodily components, resulting in eyesight loss or decrease in more than half of the cases. As a result, manufacturers are expanding their production capacity in order to develop immunosuppressive medications that improve patients' quality of life. In September 2019, Roche, a Swiss multinational healthcare company, announced the results of clinical studies for Ocrevus, an immunosuppressive medicine, to better understand its impact in relapsing and progressive MS.

Furthermore, rising initiatives by public and private organizations to spread awareness and surging geriatric population will expand the neuromyelitis optica spectrum disorder (NMOSD) market. Additionally, high incidence of neuromyelitis optica spectrum disorder (NMOSD) and the sedentary lifestyle of people will result in the expansion of neuromyelitis optica spectrum disorder (NMOSD) market.

Opportunities

Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities of medication for symptomatic treatment of osteoarthritis. This will provide beneficial opportunities for market growth for neuromyelitis optica spectrum disorder (NMOSD). The pivotal phase III study of the experimental medication satralizumab for the treatment of neuromyelitis optica spectrum condition was announced by F. Hoffmann-La Roche Ltd in December 2019. The phase III clinical trial for neuromyelitis optica spectrum condition with inebilizumab (Anti-CD19 mAb) was finished in 2019. Viela Bio is the provider.

Launch of new products and therapies
The increasing number of new product launches and therapies for the treatment of the neuromyelitis optica spectrum disorder (NMOSD) is anticipated to create new market opportunities during the forecast period of 2022 to 2029. The advent of new therapies for the treatment of neuromyelitis optica spectrum syndrome poses a potential market opportunity. Bevacizumab and Alpha1-antitrypsin and Rituximab and Eculizumab are two new treatments in progression for the acute phase and prophylaxis, respectively.

Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the neuromyelitis optica spectrum disorder (NMOSD) market growth during the forecast period.

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