Multiple Sclerosis Therapeutics Market Projected to reach US$ 39,223.59 million by 2027 COVID-19 Impact and Global Analysis
According to our new market research study on “Multiple Sclerosis Therapeutics Market to Forecast 2027 – COVID-19 Impact and Global Analysis – by Drug Class, Route of Administration, and Distribution Channel,” the market is expected to reach US$ 39,223.59 million by 2027 from US$ 24,026.90 million in 2019. The market is estimated to grow at a CAGR of 6.5% from 2020 to 2027. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.
Multiple sclerosis (MS) is an autoimmune disease affecting the central nervous system. The immune system attacks the nerves, which causes communication problems between the brain and rest of the body. Immunosuppressant and immunomodulators, along with physiotherapy, are widely used to treat MS.
The scope of the multiple sclerosis therapeutics market includes drug class, route of administration, distribution channel, and region. The market for multiple sclerosis therapeutics is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the multiple sclerosis therapeutics market emphasizing on various parameters, such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the globe.
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Multiple Sclerosis Therapeutics Market: Competition Landscape and Key Developments
Merck & Co., Inc.; Novartis AG; Bayer AG; Sanofi; Bristol-Myers Squibb Company; Horizon Therapeutics plc.; Teva Pharmaceutical Industries Ltd; Takeda Pharmaceutical Company Limited; F. Hoffmann-La Roche Ltd., and Biogen are among the leading companies operating in the multiple sclerosis therapeutics market.
COVID-19 pandemic has become the most significant challenge across the world. This would be difficult, especially for developing countries across the globe, as it may lead to reduction in imports due to disruptions in global trade. Till date, no definitive treatment against COVID-19 has been established. Patients with severe health conditions, such as neurological diseases, are witnessing delays in treatment. Supply chain disruptions associated with this pandemic situation would ultimately affect the sales of products for a short period. However, the supply of MS drugs has been continuous in the pandemic as pharmacies are allowed to stay open during the lockdown. Several companies are cutting their clinical trial activities and delaying product launches in response to the COVID-19 pandemic. For instance, Bristol-Myers Squibb delayed the launch of its multiple-sclerosis drug Zeposia (ozanimod) due to the COVID-19 pandemic.
Growing Prevalence of Multiple Sclerosis
Multiple sclerosis is a chronic disease that affects the brain, spinal cord, and optic nerves. The symptoms of multiple sclerosis include weakness, anxiety, abnormality of taste, reduced sensation, and blurred vision or vision loss. Some of the other signs are constipation, muscle stiffness, depression, thinking problems, and urinary problems.
Studies suggest that there is an increase in prevalence of multiple sclerosis across the globe. For instance, as per the National Multiple Sclerosis Society’s study in 2017, about 1 million adults (up to 913,925) were living with MS in the US. In 2010, estimated prevalence of the disease was 309 cases per 100,000 people, that is, there were 727,344 adults suffering from MS. Additionally, as per the Government of Canada, (2014–2015 estimates) over 77,000 Canadians are living with multiple sclerosis of which 3/4th are women.
Further, the Multiple Sclerosis Society estimated that about 110,000 people were suffering from the condition in the UK in 2018. It also mentioned that MS is more than twice prevalent in females than males. The number of new patients diagnosed per year is also increasing; it increased from 5,000 in 2017 to 6,700 in 2018.
Multiple Sclerosis Therapeutics Market: Segmental Overview
Based on multiple sclerosis therapeutics drug class, the multiple sclerosis therapeutics market is segmented into immunosuppressant and immunomodulators. In 2019, the immunomodulators segment accounted for larger share of the market. Growth of this segment is attributed to launch of new generic drugs and increase in adoption of immunomodulators in MS treatment. The immunosuppressant segment is likely to register higher CAGR during the forecast period.
In terms of route of administration, the multiple sclerosis therapeutics market is segmented into injectable and oral. The injectable segment held larger share of the market in 2019, and same segment is anticipated to register higher CAGR during the forecast period.
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