Global Multiple Sclerosis Treatment Market- Global Industry Analysis And Forecast (2020-2027)March 20, 2021
Global Multiple Sclerosis Treatment Market anticipated reaching around US$ 25.27 Bn by 2027, growing at a CAGR of 6.7% and was worth US$ 23.52 Bn in 2019.
Multiple sclerosis (MS) is a chronic demyelinating autoimmune disease of the central nervous system (CNS) that disrupts the flow of signals within the brain and other parts of the body. The major cause of failure observed is heterogeneity in MS population and mental disturbances, psychological, and double vision are some major problems involved. Treatment usually focuses to provide speedy recovery, relapse the progression as there is no complete cure to (MS).
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.
The report comprises of various segments as well an analysis of the trends and factors that are playing a substantial role in the market. These factors, involves the drivers, restraints, opportunities and challenges for the key companies and stake holders in the industry.
The ultimate need of drugs for multiple sclerosis treatment, increased the number of R&D, increasing healthcare expenditure in different economies and occurrence of the MS disease are studied and analysed in the report with market size estimation and key players contribution in it. Growing awareness of MS is estimated to improve the drugs therapeutic and will increase the demand for treatment available for the disease. Moreover, the accessibility of new drugs and clinical studies on multiple sclerosis are major factors anticipated the market growth.
However, stringent regulation for drug approval by the FDA and patent expiry contribute towards key restraint for the MS market. As per Atlas MS, around 2.3 Mn people suffer from MS, out of which many are not diagnosed due to lack of awareness and less no of healthcare infrastructure in certain parts. Also, the high cost in repeated trials for several therapeutic drugs repeated trials restrict the growth of this market.
• Rising research and development investment to develop more effective drugs.
• The progressions in the biomedical science for multiple sclerosis drug makers are about to create profitable opportunities in the upcoming forecast.
Key Developments in the Market:
• In 16, January 2019: Feinberg School of Medicine Northwestern University, researchers in a clinical trial found that while most of the patients on standard therapy were showing progression, the vast majority of patients did not show any progression who previously experienced the stem cell transplant. An experimental treatment is now showing progress, which was conducted for multiple sclerosis.
• In March 2017, US FDA approach to approving Ocrelizumab, which targets the cells and considers as the main root for the Multiple Sclerosis development.
• In August 2016 Pharmaceuticals Industries Teva took over Allergan PLC’s generic company called “Actavis Generics”.
Global Multiple Sclerosis Treatment Market: Market Segmentation:
The report covers competitive analysis of the Multiple Sclerosis Treatment market in each of the geographical segments thereby providing insight into a market share at the macro as well as micro levels.
Immunomodulators dominate the market with the highest share of 7.2% in 2019 and are projected to grow rapidly during the forecast, mainly because of the rising research and development (R&D) activities and the increasing number of clinical studies that propel the growth rate. Furthermore, abundant treatment option and launch of the new product with rising in demand of popular drugs such as ocrevus and rebif drive the market growth. Moreover, approval by the FDA for mayzent is anticipated to fuel the growth.
Based on Route of administration, the injection has the maximum share and high revenue of XX% in 2019 and is projected to grow at the highest CAGR of XX.X% by 2027. Injection contributes for largest growth because of higher efficacy of drugs with better drug delivery, better adsorption rate, raising awareness and market approvals of injectable products with high treatment costs for Multiple Sclerosis, Additionally, increasing per-capita income and increasing healthcare expenditure. Intramuscular (IM), Intravenous (IV), and subcutaneous (SC) are the three most regularly used injection routes. Also, drug by IV route is supposed to have 100% bioavailability.
Global Multiple Sclerosis Treatment market: Regional analysis
North America’s Multiple Sclerosis Treatment market was valued at US$ XX million in 2019 and is expected to reach a value of US$ XX million by 2027, with a CAGR of XX%. In North America, U.S. accounted to dominate the overall market to have the largest share of $10bn .U.S. spends around US$ 0.028 Bn every year for the multiple sclerosis treatment. Growing occurrence of Multiple sclerosis in the region with more number of hospitalization trials available in the US followed by Canada, technological advancements and development of Multiple Sclerosis treatments. According to the Lancet journal, about 2,221,188 cases of multiple sclerosis predominant around the world. The ASMR occurrence of this disorder was higher per 100,000 cases than 120 people in North America. The treatment market for multiple sclerosis is recorded to anticipate at CAGR 6%.In Asian pacific developing region like India and China have benefit for the drug creators over the developed countries because of the reasonable price of production.
Competitive Analysis: Global Multiple Sclerosis Treatment Market:
The competitive landscape section in the Multiple Sclerosis Treatment Market highly fragmented and the offers various strategies such as agreements, new product launches, partnerships expansions, acquisitions, joint ventures, and other crucial aspects to lessen the competitive in the market.
Numerous pharmaceuticals corporations are experiencing clinical trials for multiple sclerosis treatment. Companies are to develop innovative therapies putting large expenditure in radiology for patients suffering from multiple sclerosis. Adamas Pharmaceuticals is also, experiencing phase 3 of a clinical trial on an amantadine agent called ADS-5102.
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Scope of the Global Multiple Sclerosis Treatment Market:
Global Multiple Sclerosis Treatment Market, By Drug Type
Global Multiple Sclerosis Treatment Market, By Route of Administration
Global Multiple Sclerosis Treatment Market, By Diagnosis
• Magnetic Reasoning Imaging (MRI) Scan
• Simple Electrical stimulation tests
• Lumbar puncture
Global Multiple Sclerosis Treatment Market,By Distribution Channel
• Hospital Pharmacy
• Retail Pharmacy
• Online Stores
Global Multiple Sclerosis Treatment Market ,By Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
Global Multiple Sclerosis Treatment Market, key Players
• Merck KGaA
• Acorda Therapeutics, Inc.
• EMD Serono (Merck KGaA)
• AbbVie, Inc
• TG Therapeutics
• Antisense Therapeutics
• AB Science
• Coherus Bioscience
• Santhera Pharmaceuticals
• Ionis Pharmaceutical
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