A non-profit organization called Institute for Clinical and Economic Review (ICER) found that the U.S. spends around US$ 28,000 Mn every year for the treatment of multiple sclerosis. This will fuel demand for multiple sclerosis drugs, which will drive the global “Multiple Sclerosis Drugs” Market. The above information was shared by Fortune Business Insights in a report, titled “Multiple Sclerosis Drugs Market Size, Share and Global Trend By Drug Class (Immunomodulatory, Immunosuppressant, Interferons, Others), By Route of Administration (Oral, Injection), By Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Stores), and Geography Forecast till 2025.” 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.
Key Points of the Multiple Sclerosis Drugs Market Report:
- The report provides a basic overview of the industry including its definition, applications, and manufacturing technology.
- The report also explores the major international players in detail. In this part, the report presents the company profile, product specifications, capacity, and production value along with the market shares for each company.
- Through the statistical analysis, the study depicts the global market including capacity, production, production value, cost/profit, and supply/demand from an international perspective.
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North America Generates the Maximum Revenue Owing to Rising FDA Approvals
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 region 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 grow in the market owing to maximum support from government. Europe is the second-most leading region in the global market owing to rising per capita spending on healthcare.
Top manufactures of Multiple Sclerosis Drugs Market are:
- Pfizer, Inc.
- Merck & Co., Inc.
- Teva Pharmaceutical Industries Ltd.
Mayzent’s FDA Approval Propels Growth of the Market
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.
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Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Multiple Sclerosis – For Key Countreis, 2018
- Regulatory Scenario – For Key Countries
- Patent Snapshot
- New Drug Class Launch
- Pipeline Analysis
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Global Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
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- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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