ID: MRFR/Pharma/0434-HCR | February 2021 | Region: Global | 80 pages
During 2017-2023, the multiple sclerosis treatment market is expected to grow at a compound annual growth rate of 3.5%. During this period, multiple sclerosis will slowly erode the market share for tibumetazone, an anti-inflammatory medication. Multiple Sclerosis (MS) is characterized by demyelination, or the damage of nerve cell insulating covers in the brain and spinal cord. In most cases, MS cannot be cured, treatment focuses on preventing damage from occurring, slowing the progression of diseases, and managing symptoms.
MS symptoms are diverse and depend on the type and location of nerve damage as well as the amount of damage.
Neuropathy or weakness of the limbs usually occurs on one side of the body, double vision, electric shocks with neck movements, tremors, unsteady gait, and trouble bowel and bladder function are some of the symptoms of MS. Having severe MS can significantly impair a person's ability to walk independently or leave them completely disabled. Walking and coordination problems, muscle weakness, fatigue, and vision problems are some of the main symptoms of MS; however, the effects vary from one patient to another.
It provides professionals in the development, marketing, sales, and management of multiple sclerosis drugs with critical information to assess the global multiple sclerosis treatment market. Globally, the COVID-19 pandemic has become one of the largest challenges. Developing countries around the world would have a difficult time with this, as it may lead to disruptions in global trade, which would reduce imports. Treatment has not yet been identified for COVID-19. Those suffering from neurological diseases, for example, are facing delays in treatment. As a result of this pandemic, there would be some disruptions in the supply chain. As long as pharmacies stay open during lockdowns, MS drugs have been available during the pandemic. Clinical trial activities are being curtailed by some companies, and product launches are being delayed due to the COVID-19 pandemic. Zeposia (ozanimod) was delayed by Bristol-Myers Squibb due to the COVID-19 pandemic, for instance.
The Market Will Be Boosted By Significant R&D Investment
Clinical research and R&D investments are attracting huge interest in multiple sclerosis treatment market. MS is a disease that many pharmaceutical companies are attempting to treat. For instance, Pipeline Therapeutics is testing its PIPE-307, a selective antagonist of the M1 receptor, in clinical trials for multiple sclerosis. In addition to the increased research activities, many research collaborations have also been formed between pharmaceutical companies and research institutes, which has further favored the multiple sclerosis treatment market. Pharmaceutical companies of all sizes have been strengthening their pipeline portfolio through increased research on novel candidates. Multiple sclerosis treatment market growth is likely to be sparked by the launch of these pipeline candidates.
There is an expected growth in the multiple sclerosis treatment markets due to an increasing patient population, increased screening, and better treatment options. Multiple sclerosis is more likely to affect older adults.
As a side note, the huge gap between the early analysis and the actual onset of treatment continues to be a basic limiting factor. Currently, there is no fixed and viable treatment for this disease. A multiple sclerosis treatment market split into a base price and promoting endeavors is likely to stimulate the emergence of another medication with even halfway fix rates. Therefore, innovative work procedures can yield the most noteworthy gain and advantages for the main contender.
Multiple sclerosis treatment markets provide you with a detailed market analysis of the multiple sclerosis treatment industry's growths in every country, including multiple sclerosis treatment drugs sales, the impact of technological advancements, and changes in regulatory frameworks. A historical period of 2010 to 2018 is available.
Markets for multiple sclerosis treatment market are segmented based on drug type, into immunomodulators, immunosuppressants, and others.
Markets for multiple sclerosis treatments market are segmented according to their route of administration, such as injectables, oral, and others.
Magnetic Resonance Imaging (MRI) scans, simple electrical stimulation tests, and lumbar punctures, as well as other treatment options, are segmented by diagnosis in the multiple sclerosis market
End-users are classified as hospitals, clinics, and others in the multiple sclerosis treatment market.
The multiple sclerosis treatment market is segmented into four regions: North America, Europe, Asia Pacific, and the Middle East, and Africa. Due to the rapid development of the medical sector in the United States and an increase in the number of research institutions for better treatment of diseases, the United States dominates the market. Multiple sclerosis is additionally driven by the healthcare penetration in the United States and Canada, resulting in a higher number of procedures. In the developed countries of this region, there is a high concentration of major hospitals and good reimbursement rates. This leads to the growth of multiple sclerosis treatments. In the U.S., the consolidation of large healthcare players also contributes to growth in the market since the healthcare players have an increasing buying power. This leads to economies of scale.
Due to the growing healthcare industry and healthcare penetration in Europe, multiple sclerosis treatment is the second-largest market in the world. Germany and France lead the multiple sclerosis treatment market growth in Europe. With its large pharmaceutical industry, Germany is expected to have the fastest growth over the assessment period. Several markets dominate the multiple sclerosis market, with Europe ranking second after the Asia Pacific. This is due to its investment in advanced technologies.
As the Asia Pacific region's healthcare sector expands at a rapid pace, it is expected to have an increasing need for healthcare professionals. The multiple sclerosis treatment markets are likely to be dominated by China and India since both of their populations have a high number of people suffering from the disease. A major contribution to the growth of the Southeast Asian market will come from China, India, and Malaysia. There is an increase expected in multiple sclerosis diagnosis in Asian countries, specifically in the Asia Pacific region, due to the growing need for health care services. Asia-Pacific is expected to grow the fastest during the forecasted period. Multiple sclerosis is difficult to treat in Asia-Pacific due in large part to the large number of people suffering from deadly diseases.
Gulf countries are expected to dominate the Middle East and African markets. You should also watch out for Kuwait, Jordan, Egypt, and Iran in the Middle East, as these countries have been experiencing a rise in terrorist activity lately. It is expected that African economies will suffer from poor economic and political conditions, as well as a lack of healthcare development, which will result in a significant loss of GDP. Poor social development and tribal identity are expected to make Sub-Saharan Africa one of the backward regions, paving the way for other regions to reach higher levels of development. The lack of medical facilities in the Middle East and Africa will keep the market from growing because entrepreneurs and consumers won't be able to seek the necessary medical knowledge; the lack of information will avoid the market from growing.
AbbVie (US), Sanofi Aventis (France), Bayer Healthcare (Germany), Biogen Idec (US), Teva Pharmaceuticals (Israel), Pfizer Inc. (US), Merck (US), Novartis (Switzerland).
Principia Biopharma Inc., which develops immune-mediated treatments, merged with Genzyme Corporation in August 2020. By acquiring this company, the company has enhanced its efforts in the field of multiple sclerosis and other immune-mediated diseases.
The prefilled autoinjector YpsoMate was introduced by Teva Pharmaceuticals USA, Inc. (A Subsidiary of Teva Pharmaceuticals Industries Ltd.). Copaxone is an injection containing glatiramer acetate. In this way, patients were able to take care of their drug doses themselves and administered the drug doses without dependence on any drug administrator. Ultimately, the company produced more revenue through this initiative.
In this report, the multiple sclerosis treatment market is analyzed from a global perspective, along with key market factors such as leading companies, product/service types, and leading applications. Further, the report highlights key industry trends and provides an overview of market trends. Besides the factors mentioned above, the report includes several factors that have contributed to the recent growth of the multiple sclerosis treatment market. As well as an overview of the MS market and regulatory landscape, a pipeline analysis, a patent snapshot, a list of new product launches, and important industry mergers, acquisitions, and partnerships, the report provides various key insights.
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Drug Type, Route of Administration, Diagnosis and End Users|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Teva Pharmaceuticals (Isreal), Bayer Healthcare (Germany), Biogen Idec (US), Pfizer Inc. (US), Sanofi Aventis (France), Merck (US), Novartis (Switzerland), AbbVie (US)|
|Key Market Opportunities||Research and development strategy is expected to yield the highest benefit|
|Key Market Drivers||The increasing patient population, greater screening and need for better treatment|
Frequently Asked Questions (FAQ) :
multiple sclerosis treatment market is projected to grow at approximately 3.5% CAGR during the assessment period (2017-2023).
Rising demand for good screening & better treatment options led by the growing prevalence and rising per-capita healthcare expenditure are major tailwinds pushing the growth of the global multiple sclerosis treatment market.
significant gap between early diagnosis and actual initiation of therapy and the lack of awareness about the conditions are major growth impeders for the global multiple sclerosis treatment market.
North America holds the largest share in the global multiple sclerosis treatment market, followed by Europe and the Asia Pacific, respectively.
Teva Pharmaceuticals (Israel), Biogen Idec (US), Bayer Healthcare (Germany), Pfizer Inc. (US), Merck (US), Sanofi Aventis (France), Novartis (Switzerland), and AbbVie (US), are some of the top players operating in the global multiple sclerosis treatment market.