Pune, India, July 05, 2021 (GLOBE NEWSWIRE) -- The global multiple sclerosis drugs market size is set to gain traction as many leading pharmaceutical companies are conducting clinical trials to discover innovative and effective therapies for the treatment of this immune disorder. For instance, in December 2020, Adamas Pharmaceuticals, Inc. declared the results of its phase 3 clinical trials on ADS-5102, for the treatment of multiple sclerosis (MS) patients. This information is given by Fortune Business Insights™ in a published report, titled, “Multiple Sclerosis Drugs Market, 2021-2028.” As per the report, the market size was USD 26.05 billion in 2020 and is projected to reach USD 41.99 billion by 2028, exhibiting a CAGR of 6.3 % during the forecast period.
COVID-19 Pandemic: Disruptions in Supply Chain and Production Delays to Hinder Growth
The outbreak of the COVID-19 pandemic has severely affected the multiple sclerosis drugs market growth as it has caused some disruption in the supply chain of several major players operating in the multiple sclerosis drugs industry. For example, Biogen reported that one of its major drugs named TECFIDERA used for the treatment of multiple sclerosis witnessed a decline of 13% in 2020 as compared to the previous year. This decline was seen as a DMT based approach for the treatment of MS that has an adverse effect on COVID-19 patients. These factors are expected to moderately impact the market growth.
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Industry Developments
August 2020 - Novartis launched its U.S. Food and Drug Administration (FDA) has approved subcutaneous injection Kesimpta (ofatumumab), for the treatment of relapsing forms of multiple sclerosis (RMS).
January 2020 - Bristol Myers Squibb launched Zeposia. This drug is one of the economical drugs available in the market for MS patients.
Report Coverage-
The report aims to analyze the multiple sclerosis drugs industry by considering contributions, prospects, and growth trends. It presents detailed profiles of every key player operating in the market to analyze their core competencies in each segment. Apart from that, it ensures to help our clients better understand the competitive developments, such as mergers & acquisitions, new product launches, joint ventures, and collaborations.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/multiple-sclerosis-drugs-market-100386
Availability of Monoclonal Antibodies for MS Treatment to Favor Market Growth
Monoclonal antibodies, as the name suggests, are clones of a specific antibody, which are developed as multiple sclerosis drug treatments. Their most notable feature is that they can tailor the immune system response to MS by binding to specific, targeted proteins on the body’s normal cells. Thus, these antibody treatments can be designed to deliver a highly specific effect in a patient. More importantly, there is growing availability of monoclonal antibodies, with some treatments being more widely used than others. For instance, Roche’s Ocrevus antibody, which binds to and destroys B-cells, has been extensively adopted as an MS treatment since it received FDA approval in 2017. Similarly, Sanofi’s Lemtrada, which binds to proteins on white blood cells, has been available in the market since 2014, when it secured clearance from the FDA. Rising popularity of monoclonal antibodies is, therefore, proving critical in fueling the multiple sclerosis drugs market growth.
Proactive Measures Taken by Governments to Strengthen the Market Growth
As the prevalence of MS is increasing at an alarming rate, governments are aiding the market by campaigning about different treatment options available. In June 2018, for instance, the National Institute of Health and Care Excellence (NICE) announced recommendations for the use of beta interferons such as Avonex, Betaferon, Extavia, Rebif. These steps taken by government agencies will fuel the market in the upcoming years.
Despite government interference, the cost of drugs for multiple sclerosis remains a major challenge for the growth of the market. From 2013 to 2018, the price was increased by more than US$ 20,000. Thus, increased prices of the drugs will add to the economic burden owing to the rise of out-of-pocket expenses.
Immunomodulators to Dominate the Market Owing to New Drug Launches
By drug class, the market is divided into immunomodulators, immunosuppressants, interferons, and others. Out of these, immunomodulators dominated the market in 2020 owing to new drug launches such as Mayzent.
On the other hand, immunosuppressants are also expected to see a substantial rise as the drug MAVENCLAD is characterized with long-term efficacy for the treatment of MS
List of Key Players Covered in the Multiple Sclerosis Drugs Market Report:
- Bristol-Myers Squibb Company (New York, U.S.)
- Sanofi (Paris, France)
- Novartis AG (Basel, Switzerland)
- Pfizer Inc. (New York, U.S.)
- Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel)
- Merck & Co., Inc. (New Jersey, U.S.)
- F. Hoffmann-La Roche Ltd. (Basel, Switzerland)
- Biogen (Massachusetts, U.S.)
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Multiple Sclerosis – For Key Countries
- Regulatory & Reimbursement Overview – For Key Countries
- Pipeline Analysis
- Patent Snapshot
- New Product Launches
- Key Industry Developments - Mergers, Acquisitions and Partnerships
- Global Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Injection
- Intramuscular
- Subcutaneous
- Intravenous
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Injection
- Intramuscular
- Subcutaneous
- Intravenous
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Europe Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Injection
- Intramuscular
- Subcutaneous
- Intravenous
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Countries/ Sub-region
- U.K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
TOC Continued…..!!!!
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