A neurological disease that affects the central nervous system and optic nerves is multiple sclerosis. It is a progressive CNS autoimmune inflammatory disease that causes the nerves in the brain and spinal cord to degenerate. While multiple sclerosis was recognized centuries ago, the disease still does not have a viable cure. Drugs that target the disease and function by alleviating patients’ symptoms and improving the overall quality of life are available.
Some of the factors expected to drive the growth of the multiple sclerosis drug market are developments in the life sciences and healthcare sectors, promising therapies in the pipeline, an increase in the multiple sclerosis patient population, and unmet needs of the disease. Multiple sclerosis, which is usually prevalent among young adults worldwide, is a common degenerative and demyelinating disorder.
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Key Highlights From The Report
- In January 2020, Bristol Myers Squibb launched Zeposia, an oral drug for MS. The drug is at present the lowest-priced orally administered therapeutic drug for multiple sclerosis in the market.
- In March 2019, Novartis AG received approval from the Food and Drugs Administration (FDA) for Mayzent for the treatment of patients with active secondary progressive multiple sclerosis.
- In December 2019, Adamas Pharmaceuticals, Inc. announced positive results from the phase III clinical trial of their MS experimental drug, ADS-5102.
- As per the National Multiple Sclerosis Society, almost 1 million people across the U.S. have multiple sclerosis, and nearly 2.3 million people worldwide have the disease. These numbers continue to increase every year, which propels the biopharmaceutical companies to develop more drugs for multiple sclerosis.
- Surging investments and funding for the research and development and designing new drugs for multiple sclerosis is adding traction to market growth.
- The rising prevalence of this autoimmune disorder is increasing concerns for government bodies and healthcare companies.
- Over the period, the FDA has approved numerous drugs to treat a broad spectrum of multiple sclerosis. This has added weight to the growth of the market and is expected to see a surge in demand over time. However, the high costs associated with the drugs are expected to restrain the growth of the market.
- Asia Pacific is expected to register growth at a significant CAGR due to the rising number of pharmaceutical companies in emerging countries such as India, China, and Japan. Adding to this growth is the shift of the manufacturing base of major pharmaceutical companies to this region.
- Biogen, Inc., Pfizer, Inc., F. Hoffman-La Roche, Ltd., Sanofi, Merck & Co., Inc., Bristol Myers, Squibb Company, Novartis AG, Teva Pharmaceutical Industries, Ltd., Celgene Corporation, Bayer AG, Acorda Therapeutics, Inc., and Others.
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Emergen Research has segmented the Global Multiple Sclerosis Drugs Market on the basis of drug class, route of administration, end-user, and region:
Drug Class Outlook (Revenue, USD Million; 2017-2027)
Route of Administration Outlook (Revenue, USD Million; 2017-2027)
End-User Industry Outlook (Revenue, USD Million; 2017-2027)
- Retail and Online Pharmacies
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Regional Outlook (Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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