Multiple Sclerosis Drugs Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at CAGR of XX% during forecast period of 2019 to 2027.
Multiple sclerosis is a long lasting disease that can affect the spinal cord, brain, and the optic nerves in eyes. It can cause problems such as muscle control, vision, balance and other basic body functions. Multiple sclerosis also referred as disseminated sclerosis. At present, primary progressive multiple sclerosis market is facing lucrative growth because of the rising incidences of multiple sclerosis globally a patient awareness may promote the future growth of this market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Multiple Sclerosis Drugs Market Drivers and Restrains
Currently, numerous types of relapsing multiple sclerosis are gradually affecting the large number of populations globally, such as secondary-progressive multiple sclerosis (SPMS), relapsing remitting multiple sclerosis and progressive relapsing multiple sclerosis. According to multiple sclerosis web portal by United States and Health Union more than XX Mn people are affected by multiple sclerosis globally. Among the all different types of multiple sclerosis, XX % patients suffer from primary progressive multiple sclerosis. It is difficult to diagnose as well as treat these patients. Therefore, elevated demand for the advanced therapeutic treatment will fuel the growth of primary progressive multiple sclerosis (PPMS) market.
The drugs used to treat multiple sclerosis are Interferon Beta (Avonex, Betaseron, Extavia, Plegridy, Rebif), Glatiramer Acetate (Copaxone, Glatopa), Fingolimod (Gilenya), Teriflunomide (Aubagio), Dimethyl Fumarate (Tecfidera) and others. The multiple sclerosis drug companies are increasing their offerings for interferon-β drugs, attributing to their efficiency for T cell leukemia associated with myelopathy, glioma, and tropical spastic par paresis. The hopeful results of multiple sclerosis drugs have also been addressed in fingolimod in intra cerebral hemorrhage and acute ischemic stroke. Therefore, ongoing research and development in the multiple sclerosis drugs market will lead to the arrival of innovative drugs for multiple sclerosis. Similarly, advances in multiple sclerosis drugs have led to effective medications for the relapsing and progressive forms of multiple sclerosis. In March 2019, Norvatis AG is Swiss multinational pharmaceutical company and a leading player operating in the multiple sclerosis drugs market announced the launch of the FDA approved multiple sclerosis drug such as Mayzent (siponimod), for the treatment of various multiple sclerosis conditions.
Manufacturers in the Multiple Sclerosis Drugs are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Multiple Sclerosis Drugs Market Segmentation Analysis
The multiple sclerosis drugs market is segmented into four types such as drug class, route of administration, distribution channel and region. On the basis of route of administration, market is subdivided into oral and injection. The injection segment accounted for maximum profit in 2018, because of the active government recommendations and global market approvals. On the basis of drug class market is categorized into immunomodulators, immunosuppressants, interferons and others. In terms of distribution channels covered under the report are retail pharmacy, hospital pharmacy, and online stores. The immunomodulators used to diagnose Multiple Sclerosis such as glatiramer acetate, natalizumab, fingolimod, alemtuzumab, teriflunomide, and dimethyl fumarate (BG-12) and others. Biogen has occurred as a leading player in the multiple sclerosis drugs market because of the higher sales of Tecdera in 2018 and strategic partnership for increased distribution of drugs. Based on region, it is studied across Asia Pacific, North America, Europe, Latin America and Middle East Africa.
Multiple Sclerosis Drugs Market Regional Analysis
On the basis of region Multiple Sclerosis Drugs market divided into five region such as Asia Pacific, North America, Europe, Latin America, and Middle East Africa. Among all the regions, North America had hold the largest market share in 2018 and is projected to lead the market during the forecast period. Because of high incidence rates of multiple sclerosis and rising demands for therapeutic medications for the effective treatment of primary progressive multiple sclerosis in these regions. In recent studies of multiple sclerosis portal XX % people are affected by multiple sclerosis in Europe and XX % affected population is present in the United States. This can be credited to the higher sales of multiple sclerosis drugs in countries such as the United State and Canada. Furthermore, Asia Pacific is expected to expand at a comparatively high CAGR during the forecast period. The multiple sclerosis drugs market in Asia Pacific is driven by a large pool of patients with multiple sclerosis disease in China and Japan, launch and approval of new products, and growth in investments by leading players in the region in therapeutic drugs for multiple sclerosis disease. Therefore, the Asia Pacific is expected to be the second largest market over the forecast period and nearly follow by North America in terms of profits.
The objective of the report is to present comprehensive analysis of Multiple Sclerosis Drugs Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Multiple Sclerosis Drugs Market dynamics, structure by analyzing the market segments, and project the Multiple Sclerosis Drugs Market size. Clear representation of competitive analysis of key players by Multiple Sclerosis Drugs Type, price, financial position, product portfolio, growth strategies, and regional presence in the Multiple Sclerosis Drugs Market make the report investor’s guide.
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Scope of the Multiple Sclerosis Drugs Market
Multiple Sclerosis Drugs Market, by Drug Class
Multiple Sclerosis Drugs Market, By Route of Administration
Multiple Sclerosis Drugs Market, Distribution Channel
• Hospital Pharmacies
• Online Sales
Multiple Sclerosis Drugs Market, by Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
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