Necrotizing autoimmune myositis is also known as Immune-Mediated Necrotizing Myopathy (IMNM), is an extremely rare autoimmune muscle disease resulting in symptoms such as skeletal muscle inflammation, pain, and weakness leads to difficulty in muscle movement. The histopathologically of necrotizing autoimmune myositis is myocyte necrosis and regeneration without significant inflammation. The most commonly affected muscles include the muscles closer to the body such as the upper arms, hips, shoulders, thighs, and neck. Necrotizing autoimmune myositis currently has no cure and the treatment is symptomatic. The exact cause of necrotizing autoimmune myositis is unknown although certain medications such as statins, certain autoantibodies, and diseases such as cancer, viral infections, and others are associated with it.
For more insights into the Market, request a sample of this report @ https://www.persistencemarketresearch.com/samples/27544
The attractive reimbursement and financial incentives afforded to rare diseases affecting fewer than 200,000 people is a prime driver of the market. The ‘orphan’ status allows the drug developer incentives until the marketing approval to all stages of the drug development such as tax credits on clinical research, elaboration of an application file necessary for marketing approval, technical assistance during the application and simplification of administrative procedures such as fast approval resulting in reduction of the waiting period and the amount of registration fees. The growing valuation of orphan drug designation by investors is driving a large research and development expenditure. It has been witnessed that on average, the stock price of a pharmaceutical company rises by 3 to 4 % after the orphan drug designation is awarded resulting in increasing the valuation of the company. It also places the company at the apex of the technological chain resulting in substantial growth in public and investor goodwill.
The growing geriatric population is another driver of the necrotizing autoimmune myositis as the age of onset ranges from 30 to 70 years. The growing R&D intensively and attractive government support and initiatives are other drivers of the growth of the necrotizing autoimmune myositis market.
Strong government support and incentives to biotech and pharmaceutical sectors are another driver of the growth of the market. For example, the Government of India and China have made the biotech sector a strategic one owing to its positive externalities on other sectors and rich foreign exchange earning potential. For example, in India, the Department of Biotechnology (DBT) along with other government-funded institutions such as the National Biotechnology Board (NBTB) are collaborating to project India as a global hub for biotech research. The Indian Union Budget 2017-18, allocated US$ 333.31 million aimed at implementing the national biotech strategy with a target to increase the turnover of the biotech sector to $100 billion by 2025 from approximately $7 billion in 2016.
However, the constraints such as high cost of treatment, and lack of curative treatment is hampering the Necrotizing Autoimmune Myositis market.
Necrotizing Autoimmune Myositis Market: Segmentation
To gain a comprehensive and better understanding of the future market equity, the necrotizing autoimmune myositis report is segmented based on drug class, and application.
Based on autoantibodies classification, the global Necrotizing Autoimmune Myositis market is segmented into:
- SRP autoantibodies
- HMGCR autoantibodies
Based on drugs, the global Necrotizing Autoimmune Myositis market is segmented into:
- Monoclonal Antibodies
- Pain Management
To receive extensive list of important regions, Request TOC here @ https://www.persistencemarketresearch.com/toc/27544
Necrotizing Autoimmune Myositis Market: Overview
Based on regions, the global necrotizing autoimmune myositis market is classified into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East & Africa, and Asia Pacific market excluding Japan. North America led by the U.S. is expected to dominate the global necrotizing autoimmune myositis market owing to excellent healthcare infrastructure, large screening rates, and attractive reimbursement rates.
The Europe necrotizing autoimmune myositis market is expected to be led by the Germany, France, Italy, Spain, Portugal and the UK. The Latin America and the Middle East and Africa necrotizing autoimmune myositis market is constrained due to the low healthcare expenditure and poor economic conditions. The Middle East and Africa necrotizing autoimmune myositis market are projected to be dominated by the Gulf economies of UAE, Saudi Arabia, and Kuwait owing to their large wealth relative to the African nations.
Some of the major players in the global Necrotizing Autoimmune Myositis market are GlaxoSmithKline plc, Dr. Reddy’s Laboratories, Genentech USA, Inc. (F. Hoffmann-La Roche Ltd.), Hetero Drugs Limited, AbbVie Inc., Teva Pharmaceutical Industries, Novartis AG, and others.
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws on its multi-disciplinary capabilities and high pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
Persistence Market Research stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, its engagement models are highly flexible without compromising on its deep-seated research values.
New York City, NY 10007
U.S.A – Canada Toll-Free: 800-961-0353
Email: [email protected]