The global multiple sclerosis treatment market is accruing rapidly mainly due to the increasing prevalence of the disease. Although MS is largely associated with both genetic and environmental risk factors, other risk factors involved in the development of MS include obesity and smoking high altitude, female gender, deficiency of vitamin D, and Epstein Barr virus infection.
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These risk factors independently but equally contribute to the disease’s variability and may be an early influence on progression. All these factors commutatively contribute to the market growth, creating the demand for the multiple sclerosis treatments. At the same time, there are various treatments and novel medications available for the management of multiple sclerosis which is pushing up the market on the global platform.
Acknowledging the enormous growth, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the global multiple sclerosis treatment market will grow exponentially by 2023 accruing at a CAGR of 3.5 % during the forecast period (2017 – 2023).
Additionally, technological advancements transpired in the field of multiple sclerosis management and advent treatment materials are fostering the market growth to an extent.
On the flip side, factors such as the high cost of product (drug/devices) developments, complications in the treatment, and stringent regulatory norms are expected to impede the market growth during the review period. Besides, the pending or imminent patent expiries of many blockbuster drugs for management of multiple sclerosis are hampering the market growth too.
Nevertheless, factors like the instigation of a large number of regulatory healthcare reforms, developments of methods for the improved diagnosis and treatments for MS are expected to support the market growth bringing about the MS management therapeutics and treading along a promising increase in the next few years.
The prominent players operating the global multiple sclerosis treatment market are
- Teva Pharmaceuticals
- Bayer Healthcare
- Sanofi Aventis
- Biogen Idec
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Multiple Sclerosis Treatment Market – Segmental Analysis
The global multiple sclerosis treatment market has been segmented on the basis of drug type, route of administration, diagnosis, and end-users.
By mode of drug type, the global multiple sclerosis treatment market has been segmented into immunosuppressant, immunomodulators, and others.
By mode of the route of administration, the global multiple sclerosis treatment market has been segmented into oral, injectable, and others.
By mode of diagnosis, the global multiple sclerosis treatment market has been segmented into simple electrical stimulation tests, magnetic resonance imaging (MRI) scans, lumbar puncture and others.
By mode of end-users, the global multiple sclerosis treatment market has been segmented into clinics, hospitals, and others.
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Detailed Regional Insights
Geographically, the multiple sclerosis treatment market spans across regions namely, America, Asia Pacific, Europe, and the Middle East & Africa.
Among all the regions, America is considered to occupy the largest market share owing to the presence of U.K. in this region. U.S. is estimated to dominate the market due to the increasing R&D activities for better treatment of the disease and extensive development in the medical sector.
An increasing number of hospitalization procedures owing to healthcare penetration in Canada and the U.S. are estimated to propel the market growth. Additional factors influencing the market growth are the high concentration of key hospitals and good reimbursement rates.
European is presumed to occupy the second largest market share and is likely to retain its dominance over the years. The growth is credited to the augmenting healthcare industry along with healthcare penetration. The region is mainly led by economies like France and Germany, where Germany is considered to be the fastest growing region due to the presence of its large pharmaceutical industry.
The Asia Pacific is anticipated to expand at a rapid pace and is presumed to lead the market owing to the large unmet needs coupled with the fast-developing healthcare sector in this region. South East Asian economies like India, China, and Malaysia highly contribute to the market growth. Additionally, penetration of the healthcare sector is likely to fuel the future multiple sclerosis market.
January 16, 2019: In a clinical trial of Northwestern University Feinberg School of Medicine, researchers had found that while most of the patients on standard therapy were showing progression, the vast majority of patients who already underwent the stem cell transplant did not. An experimental treatment which was conducted for multiple sclerosis is now showing promise. A new study had found that a single stem cell transplant delays or stop the symptoms better than some medications.
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