PUNE, India, March 04, 2021 (GLOBE NEWSWIRE) -- The Global Multiple Sclerosis Drugs Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global multiple sclerosis drugs market size was estimated to be US$ 24.6 billion and expected to reach 49.3 billion by 2030 at a CAGR of 7.5%. Multiple sclerosis is a chronic, inflammatory, autoimmune nervous system disorder where the immune system attacks the protective fat layer called myelin, around the nerve fibers and causes problems with muscle control, vision and other body functions, and affects the spinal cord, and the (CNS) central nervous system, especially the communication between the brain and other areas of the body resulting in loss of balance, coordination and compromised vision. Multiple sclerosis (MS) is basically an immune-mediated, demyelinating illness which damages the insulating covers of the nerve cells in the brain and spinal cord (CNS). The disease can result in long term disability. It is characterized by inflammation, demyelination, and degenerative changes such as progressive brain and neuroaxonal, loss spinal cord atrophy, among others.
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Currently various research studies are taking place in this avenue, which are expected to create a competitive landscape for the Multiple Sclerosis Drugs manufacturers to develop new and innovative treatments, which is expected to create a plethora of opportunities in the multiple sclerosis treatment market.
MS, widespread amongst the young adults around the world, is a degenerative neurological condition. On a global scale, an estimated 2.5 million people were diagnosed with MS in 2017, according to the Multiple Sclerosis Trust. MS affects women more than men. The disease often occurs in the people that are in the age group of 20-40. MS is broadly categorised into four types. These are, relapsing-remitting MS, progressive-relapsing MS, secondary-progressive MS and primary-progressive MS. Relapsing-remitting MS is the most common form of MS that occurs in the patients. It accounts for an approximate 85% of the total MS cases. Approximately 50% of people suffering with relapsing remitting MS go on to develop this form of the disease. Progressive-relapsing MS is rare and comprises of about 5% of the total MS cases. Primary-progressive MS accounts for 10% of the total MS cases. New product launches and significant R&D investment are expected to contribute to the expansion of the market for Multiple Sclerosis drugs.
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Factors that drive the growth of the Multiple Sclerosis Drugs Market:
Investments made in the activities targeted at research and development to boost the market the market are witnessing great profits in terms of revenue generated from the results of the clinical research and R&D investment. Many pharmaceutical companies across the globe are focusing on developing unorthodox therapies for the treatment of MS. Increased research activities on various novel candidates have also paved the way for many research collaborations between pharmaceutical companies and research institutes, further strengthening the market.
The rising prevalence of the disease has forced governments of many countries to take active measures using recommendations and guidelines. Apart from this, various initiatives to generate awareness around this issue are being launched by government associations to educate patients regarding the different options of treatment available. The growth of multiple sclerosis drugs market is aided by government support as well as help from the various different non-government organizations.
Governments of various countries such as America, the U.K., among others, have also laid down recommendations regarding the usage of the various drugs available for multiple sclerosis. Take for instance, in June 2018, the National Institute of Health and Care Excellence (NICE) released recommendations for the use of beta interferons such as Avonex, Rebif, Extavia, Betaferon, and glatiramer acetate. Such treatment guidelines and recommendations make the populace more aware of the various treatment options, which in turn, bodes well for the growth of the multiple sclerosis drugs market.
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The Drug Class segment led by the immunomodulators market:
The market, based on the drug class, is segmented into immunomodulators, immunosuppressants, interferons, and others. The immunomodulators segment dominates the Drug Class segment of the MS drugs market and is expected to hold its lead in the market throughout the forecast period. More treatment options within the market of the immunomodulators, new product launches, and higher demand over its counterparts, are some of the factors responsible for its growth.
Administration segment led by injection market:
Launch of Zeposia has acted in favor of the oral market in the route of administration segment. While the market of multiple sclerosis drugs is bifurcated into oral and injection, the injection market, further segmented into intramuscular, subcutaneous, and intravenous, accounts for the maximum market share. This can be attributed to the rising prevalence of multiple sclerosis and active government recommendations. Additionally, the intensified research with a focus on humanized monoclonal antibodies, is likely to cement the growth of the injection segment.
Hospital Pharmacy dominates the Distribution Channel segment:
Hospital Pharmacy market dominates the Distribution Channel segment. The Distribution Channel of multiple sclerosis drugs market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy, out of which the hospital pharmacy market currently dominates the Multiple Sclerosis Drugs Market, and is anticipated to continue to do so throughout the forecast period, which can be due to favorable health reimbursements and the surge in the government efforts to strengthen hospital pharmacies in the government run hospitals.
North America holds the largest share of the market in the region segment, while Europe trails close behind:
The region of North America led the region segment of the Multiple Sclerosis Drugs Market, the primary factors which are responsible for the same include the constant increase in the investments made in the R&D activities, new product launches, and rising demand for immunosuppressants.
The region of Europe is the second most prominent region in terms of revenue, owing to the active government laws and regulations and favorable policies regarding health reimbursement.
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The key players in the global multiple sclerosis drugs market include Biogen, Novartis, Roche, Bayer HealthCare, Pfizer, Inc., Merck & Co., Inc., Sanofi, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline, Acorda Therapeutics Inc., Actelion Pharmaceuticals (Johnson & Johnson), EMD Serono (Merck KGaA), AbbVie, Inc., Betaseron, CinnoVex, Extavia, Rebif, Tysabr.
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