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Guillain-Barre Syndrome Drugs Market Shares, Growth Analysis, Key Insights, Size And Forecast To 2033
Guillain-Barre Syndrome Drugs Market Shares
According to The Business Research Company's, The Guillain-Barre syndrome drugs market size has grown strongly in recent years. It will grow from $1.08 billion in 2023 to $1.17 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to progress in the field of research and development, governmental programs and assistance with regulations, increased focus on neurology and autoimmune diseases, increased focus on reducing healthcare costs, and growth in demand for hospital and clinic services.
The Guillain-Barre syndrome drugs market size is expected to see strong growth in the next few years. It will grow to $1.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to the growing rate of guillain-barre syndrome (GBS) incidence, increasing recognition and recognition rates, growing geriatric population, increasing role of hospital pharmacies and retail pharmacies, and growing demand for oral and parenteral medications. Major trends in the forecast period include the development of new therapies, advancements in diagnostic tools, collaboration between pharmaceutical companies and research institutions, advancements in gene therapy, and advancements in intravenous immunoglobulin therapy.
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Market Drivers and Trends:
The growing demand for personalized medicine is expected to propel the growth of the Guillain-Barre syndrome drugs market going forward. Personalized medicine refers to tailoring medical treatment to individual characteristics, such as genetics or lifestyle, to optimize effectiveness and minimize adverse effects. The growing demand for personalized medicine is driven by its potential to provide more effective treatments, advancements in genomics, increasing disease complexity, and regulatory support. Personalized medicine in Guillain-Barre syndrome (GBS) aims to tailor treatments based on individual patient profiles to improve therapeutic outcomes and reduce adverse effects. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA (Food and Drug Administration), a US-based federal agency, approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Thus, the increasing demand for personalized medicine is driving the growth of the Guillain-Barre syndrome drugs market.
Major companies operating in the Guillain-Barre syndrome drugs market are developing innovative products, such as humanized monoclonal antibodies, to sustain their position in the market. A humanized monoclonal antibody is a type of antibody made in the laboratory by combining a human antibody with a small part of a mouse or rat monoclonal antibody. These antibodies are explored as potential therapies due to their ability to target specific components of the immune system involved in the pathological process of GBS (Guillan-Barre syndrome). For instance, in October 2023, Annexon Inc., a US-based clinical-stage biopharmaceutical company, announced that the European Medicines Agency (EMA) and the U.S. Food and Drug Administration (FDA) had granted orphan drug designation to ANX005 for GBS treatment. ANX005, a humanized monoclonal antibody, inhibits C1q to stop complement-mediated inflammation and neuronal damage early in GBS. Annexon has achieved target enrollment in a Phase 3 trial of ANX005 in GBS, with topline data expected in the first half of 2024. ANX005 aims to reduce inflammation and nerve damage by blocking C1q activity selectively in the nervous system, allowing rapid autoimmune damage cessation and muscle strength recovery in GBS patients.
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Major Key Players of the Market:
F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Novartis AG, Takeda Pharmaceutical Company Limited, Biogen Inc., Chugai Pharmaceutical Co. Ltd., Grifols SA, Octapharma AG, Cadila Healthcare Limited, Argenx SE, Alnylam Pharmaceuticals Inc., Biotest AG, CSL Behring LLC, Kedrion Biopharma Inc., Cellenkos Inc., Annexon Inc., Hansa Medical AB, Akari Therapeutics Plc, Alexion Pharmaceuticals Inc., Vitality Biopharma Inc., CuraVac Inc., Regenesance BV, Cresence AS, Shire Plc
Guillain-Barre Syndrome Drugs Market 2024 Key Insights:
• The Guillain-Barre syndrome drugs market size is expected to see strong growth in the next few years. It will grow to $1.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Personalized Medicine Drives Guillain-Barre Syndrome Drugs Market Growth
• Innovative Humanized Monoclonal Antibodies Revolutionize Guillain-Barre Syndrome Treatment
• North America was the largest region in the Guillain-Barre syndrome drugs market in 2023
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