ALBANY, New York, Feb. 13, 2020 /PRNewswire/ -- Transparency Market Research has been keen following the developments happening across the global Multiple Sclerosis Drugs Market. According to the research report published by TMR, the market is expected to exhibit a healthy CAGR of ~6% for the given period of forecast ranging from 2019 to 2027. With this rate of development, the global market for multiple sclerosis drugs is expected to reach a valuation worth ~US$31.5 bn by the end of 2027. In 2019, the market was valued ~US$20 bn.
In recent years, there has been a strong prevalence of multiple sclerosis. This factor coupled with growing geriatric population across key regional segments, and growing awareness about the disease are a few factors that are helping to drive the development of the global multiple sclerosis drugs market.
Key Findings in the Research Report:
- The global market for multiple sclerosis is broadly divided in terms of disease type, route of administration, distribution channel, drug class, and region
- Based on type of disease, the market is further segmented into progressive-relapsing MS (PRMS), secondary-progressive MS (SPMS), primary-progressive MS (PPMS), and relapsing-remitting MS (RRMS). The segment of RRMS is expected to dominate the global market in coming years
- In terms of route of administration, the multiple sclerosis drugs market is being dominated by the sub-segment of parenteral route of administration. The segment is expected to have a promising CAGR due to the fact that nearly 75% to 85% of patients suffering from RRMS
- Of the different types of distribution channel such as online pharmacies and hospital pharmacies, the segment of retail pharmacies & drug stores is projected to have a more promising rate of growth
- In terms of drugs class, the interferon beta segment accounted for a larger market share in 2018. However, the segment of monoclonal antibodies is expected to emerge as a stronger drug class segment in the near future.
Explore a 207 pages report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Multiple Sclerosis Drugs Market by Drug Class: Interferon Beta, Sphingosine 1 Phosphate Receptor Modulators, Mixed Polymers, NF-KB Inhibitor, Pyrimidine Synthesis Inhibitor, Monoclonal Antibodies, Corticosteroids, Adrenocorticotropic Hormone, and Others; Disease Type: Relapsing-remitting MS (RRMS), Primary-progressive MS (PPMS), Secondary-progressive MS (SPMS), and Progressive-relapsing MS (PRMS); Route of Administration: Parenteral and Oral; and Distribution Channel: Hospital Pharmacies, Retail Pharmacies & Drug Stores, and Online Pharmacies https://www.transparencymarketresearch.com/report-toc/1130
Global Multiple Sclerosis Drugs Market – Key Driving Factors
- One of the major driving factors for the development of the global multiple sclerosis drugs market is the considerable growth in the number of projects focusing on research and development of new treatment methods for tackling the disease
- The key stakeholders in the market are pouring in significant amount of investment for development of new drugs with improved efficiency and minimal side effects. Funding from both private as well as public sector is beneficial for the overall development of the global market
- In recent years, the new medications have been able to slow down the spread and effect of multiple sclerosis. With increasing awareness about the new treatment methods, the market is experiencing a solid impetus in recent years, thus driving its overall growth
Global Multiple Sclerosis Drugs Market – Key Restraining Factors
Even though the market is developing at a great pace, there are a few factors that are expected create some challenges in future. The key stakeholders in the global multiple sclerosis drugs market must be aware of these challenges and be ready with viable solutions to minimize their effect. One big concern for the market has been the lack of treatment method or drugs that can completely cure multiple sclerosis. Though the efforts of the all the research and development activities are focused on development of such drugs, the slowness of the process may pose a problem for the overall growth of the market.
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Global Multiple Sclerosis Drugs Market – Regional Outlook
- Of the different regional segments of the global multiple sclerosis drugs market, the region of North America accounts for a dominant share. The growth of the regional market is driven by the favorable reimbursement policies and presence of a robust medical infrastructure. Furthermore, increasing prevalence of disease and early availability new drugs are some of the other key growth factors for the region
- Asia Pacific segment is expected to show a promising rate of growth in the near future. Emerging economies such as India and China are expected to invest in development of their domestic healthcare infrastructure which will be likely to help the growth of the multiple sclerosis drugs market in the region
Analyze Multiple Sclerosis Drugs market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Global Multiple Sclerosis Drugs Market – Competitive Landscape
There are numerous notable brands operating in the global multiple sclerosis drugs market. These companies in the market are expected to focus on inorganic growth strategies such as acquisitions and mergers for staying competent in the global market. With increasing onus on development of newer and more effective drugs, the companies are expected invest more in the research and development activities in coming years of the forecast period.
Some of the prominent brands in the global multiple sclerosis drugs market are Bayer AG, Teva Pharmaceutical Industries Ltd., Novartis AG, Sanofi, F. Hoffmann-La Roche Ltd., Celgene Corporation, Acorda Therapeutics, Inc., Biogen, Inc., Actelion Pharmaceuticals (Johnson & Johnson), EMD Serono (Merck KGaA), and AbbVie, Inc.
Global Multiple Sclerosis Drugs Market: Segmentation
- Multiple Sclerosis Drugs Market, by Drug Class
- Interferon Beta
- Sphingosine 1 Phosphate Receptor Modulators
- Mixed Polymers
- NF-κB Inhibitor
- Pyrimidine Synthesis Inhibitor
- Monoclonal Antibodies
- Adrenocorticotropic Hormone
- Multiple Sclerosis Drugs Market, by Disease Type
- Relapsing-remitting MS (RRMS)
- Primary-progressive MS (PPMS)
- o Secondary-progressive MS (SPMS)
- Progressive-relapsing MS (PRMS)
- Multiple Sclerosis Drugs Market, by Route of Administration
- Multiple Sclerosis Drugs Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Multiple Sclerosis Drugs Market, by Region
- North America
- Rest of the Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Monoclonal Antibodies Market - Driving the growth of the global monoclonal antibodies market is the increasing prevalence of cancer and other chronic diseases. Such maladies have resulted in soaring demand for biologics, which in turn is leading to the demand for monoclonal antibodies. Rising thrust on research and development activities in genomics alongside the emergence of technologically advanced genetic platforms, such as next generation sequencing, have also majorly contributed to the market.
Corticosteroids Market - Factors driving the growth of the global corticosteroids market include growing geriatric population, increasing incidence of chronic diseases, rising demand for topical corticosteroids, and surging investment in research and development. Companies are increasingly participating in mergers and acquisitions to strengthen their position in the market.
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