Multiple sclerosis is a disease that affects the central nervous system and can disable patients from leading a normal life in more ways than one. The multiple sclerosis drugs market is dedicated to producing therapies that help manage the many unpredictable symptoms of this disease. This market research report conducts a thorough analysis of the global multiple sclerosis drugs market based on various standpoints such as: Leading drug types, pipeline drugs, mode of administration, competitive scenario, and geographical markets.
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The report not only takes a closer look at market growth drivers, but also studies restraints and provides recommendations on success factors for growth. The multiple sclerosis drugs market is currently in the throes of intense competition because a known cure for multiple sclerosis is yet to be found. The multiple sclerosis drugs market currently only offers products that can help curtail the progression of the disease. All of these factors are taken into consideration to create a report that can offer actionable insights to companies directly or indirectly associated with the global multiple sclerosis drugs market.
Overview of the Multiple Sclerosis Drugs Market
Sample this: There are over 2.3 million known cases of multiple sclerosis worldwide. However, these numbers can at best be described as an estimate because the onset of the disease can often go unnoticed given the unclear nature of its symptoms. Moreover, in countries such as the United States, physicians are under no compulsion from the CDC to report new multiple sclerosis cases.
There is a gaping gap in the market for the development of drugs that can completely treat this debilitating disease. Until recently, the multiple sclerosis drugs market was dominated by the injectables segment. But oral drugs are fast winning consumer confidence, and since 2013 onward oral drugs for MS have been eating into the existing market shares of injectables.
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Gilenya and Aubagio-both oral MS drugs-feature among the top ten bestsellers in the global multiple sclerosis drugs market. Two other pipeline drugs – Teva Laquinimod and Biogen’s oral BG-12 – are expected to be launched by 2017. These drugs are eagerly awaited in the global multiple sclerosis drugs market because of their high rate of efficacy.
Our analysts state that while the market for oral MS drugs is firmly on the growth track, it will not dethrone the injectables segment from the leading position anytime soon. That’s because a number of potentially fatal side effects, such as heart diseases, have been reported from the use of Gilenya. The other bestsellers in the multiple sclerosis drugs market are Copaxone, Rebif, Avonex, Tysabri and Betaseron – these drugs work by controlling the relapse of MS. A few players in the multiple sclerosis drugs market are also researching stem-cell transplantation treatments. If successful and approved, this treatment could help improve the quality of life of MS patients to a great degree. Moreover, a number of recent industry developments are expected to provide further impetus to the global multiple sclerosis drugs market. Google Inc teaming up with Biogen Idec to facilitate research in the treatment of multiple sclerosis recently made headlines.
However, lengthy drug approval processes and stringent regulations are the two key factors suppressing the growth of the MS drugs market.