Multiple Sclerosis Drugs Market Report 2020 Size, Share, Growth, Business Analysis, and Regional Forecast to 2026 is latest research report on Global Multiple Sclerosis Drugs Market published by “Fortune Business Insights”. According to report the Global Multiple Sclerosis Drugs Market to grow at 6.7% CAGR and reach $39,289.5 million value by 2026. Multiple Sclerosis Drugs Industry report anlayzes Market for Animal drug by Drug Class (Immunomodulatory, Immunosuppressant, Interferons, Others), By Route of Administration (Oral, Injection), By Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Stores), and Regional Forecast 2019-2026.
Multiple Sclerosis Drugs Industry Key Players Analyzed in Report Are:
Pfizer, Merck & Co, Teva Pharmaceutical Industries Ltd, and Sanofi.
Global Multiple Sclerosis Drugs Market Insights:
The global Multiple Sclerosis Drugs market size is predicted to grow $39,289.5 million by 2026, exhibiting a CAGR of 5.6% during the forecast period. Market for Multiple Sclerosis Drugs was valued $23,460.3 million in 2018. Multiple sclerosis (MS) is disease which damage the nerve cells insulation cover.
A non-profit organization called the Institute for Clinical and Economic Review (ICER) has found that the U.S. spends around US$ 28,000 Mn every year for the treatment of multiple sclerosis. This is indicative of the high demand for multiple sclerosis drugs, which will in turn drive the global multiple sclerosis drugs market. Multiple sclerosis directly impacts the brain and spinal cord of a body. Consequently, multiple sclerosis symptoms include visual disturbances, memory and thinking problems, difficulties in coordination, and muscle weakness.
As per a study conducted by the Multiple Sclerosis Foundation, around 2.3 million people across the world live with multiple sclerosis. Considering this, the report predicts the global market for multiple sclerosis drugs to expand at a CAGR of 6.7% between 2018 and 2026. Furthermore, the market was worth US$ 23,460.3 Mn in the year 2018 and is expected to reach US$ 39,289.5 Mn by 2026.
Multiple Sclerosis Drugs Market Segmentation:
The global Multiple Sclerosis Drugs Market is segmented on the basis of Drug Class, Route of Administration, Distribution Channel and Region.
Based on Drug Class the Global Multiple Sclerosis Drugs Market is segmented into Immunomodulatory, Immunosuppressant, Interferons, Others.
Based on Route of Administration the Multiple Sclerosis Drugs market is segmented by Oral, Injection.
Based on Distribution Channel the Multiple Sclerosis Drugs market is segmented by Hospital Pharmacy, Retail Pharmacy, Online Stores.
On the basis of region market for Multiple Sclerosis Drugs segmented by North America, Europe, Asia-Pacifica, Africa and other regions.
Regional Market Insights:
Report analyzes Global Market for Multiple Sclerosis Drugs by North America, South America, Asia-Pacific, Europe, Middle East and Africa.
North America is expected to dominate the global multiple sclerosis drugs market through the forecast years. Novel drugs manufactured are increasingly getting FDA approvals and these companies are planning to focus on commercialization of drugs. Influenced by this, the multiple sclerosis drugs market share is likely to expand in this region. Moreover, the regional market is worth US$ 13,826.7 Mn and owing to the mounting cost of drugs, the demand for multiple sclerosis treatment increases. Furthermore, the presence of potential drug candidates in North America is expected to create growth opportunities for the market during the forecast period.
Apart from North America, Europe is also anticipated to show immense growth opportunities for the market owing to maximum support from government. Europe is the second- leading region in the global market owing to rising per capita spending on healthcare.
Improved distribution network among companies in Asia Pacific is the primary factor responsible for the market’s growth. The market is expected to witness high growth in this region during the forecast region.
Global Multiple Sclerosis Drugs Market Growth Insight:
The multiple sclerosis drugs market share is expected to rise in the forecast years. Immunomodulators lead the market over immunosuppressants and interferons, in terms of drug class. The segment covered a share of 67.4% in the global market in 2018. The demand for immunomodulators is increasing as they offer better treatment options for multiple sclerosis. This, coupled with new product launches, is expected to drive the segment by 2026. This will further boost the multiple sclerosis drugs market. In addition to this, immunomodulators are growing rapidly owing to the increasing number of clinical studies and rising research and development (R&D) activities.
As per the route of administration, injection covered the maximum share in the global market in 2018. The wide market approvals and government support are driving the segment’s growth. However, the oral segment is expected to grow considerably in the forecast years.
Several pharmaceuticals companies are undergoing clinical trials for the treatment of multiple sclerosis. Companies are putting efforts to develop innovative therapies in multiple sclerosis radiology for patients suffering from this disease. Considering this, Adamas Pharmaceuticals is undergoing phase 3 of a clinical trial on an investigational amantadine agent called ADS-5102. This oral therapy is conducted to determine if multiple sclerosis or MS patients can improve their walking speed. The U.S. FDA granted approval of a drug called Mayzent to Novartis. This is the first-ever treatment for patients suffering from secondary progressive multiple sclerosis or SPMS. Drugs like these will improve the patient’s quality of life, which will contribute to the growth of the market.
As per the report, Biogen, Novartis AG, and F. Hoffmann-La Roche Ltd cover the majority share in the global multiple sclerosis market. Among these, Biogen was the leading player owing to the increasing sales of Tecfidera in 2018. The company entered into strategic partnerships to further extend its distribution network. Following Biogen, Novartis is the second-most leading company in the market. The company developed a drug called Gilenya and owing to its higher demand, Novartis was leading after Biogen.
Highlights of the Report:
In-depth analysis of various insights, namely, Multiple Sclerosis Drugs Market trends, growth drivers, opportunities, and other related challenges.
Comprehensive details of key market players, their core competencies, and Multiple Sclerosis Drugs Market share.
The potency of suppliers and buyers to make better business decisions.
Lists out the market size in terms of volume.
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Definitions and Assumptions
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