Multiple Sclerosis Treatment Market Scope
Market Research Future (MRFR) expects the multiple sclerosis treatment market to surge at a moderate rate of 3.5% over the assessment period (between 2020 and 2027).
Major Drivers and Deterrents
The multiple sclerosis treatment industry stands to benefit from the soaring demand for advanced IT solutions as well as services that facilitate smoother delivery of value-based patient care. Huge investments in the healthcare infrastructure, and not to mention the rampant need for effective value-based healthcare as well as disease management will have a tremendous impact on the global market in the years to follow. With that said, one of the most vital reasons for the robust industry growth can be the alarming rise in the cases of multiple sclerosis worldwide, which raises the urgent need for effective treatments and drugs.
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Increasing R&D spending for better treatment options paired with the thriving medical tourism sector across emerging regions are a few lucrative opportunities in the chronic disease management industry. In addition, mounting government intervention in this segment across various countries should further enhance the market size in the following years.
Market Segmentation
MRFR report has detailed the several growth aspects of the multiple sclerosis treatment market, extensively outlining the major segments, including drug type, routes of administration, diagnosis, and end-user.
The key drug types covered in the study are immunomodulators, immunosuppressant, and other.
Major routes of administration covered int the report for multiple sclerosis treatment include oral, injectable, and more.
The diagnosis-based segments studied in the MRFR review are simple electrical stimulation tests, lumbar puncture, Magnetic Resonance Imaging (MRI) scans, and others.
Top end-users in the global market for multiple sclerosis treatment are clinics, hospitals, and others.
Regional Status
The chronic disease management industry has been geographically distributed into MEA or Middle East & Africa, Asia Pacific/APAC, Europe, as well as Americas.
The Americas will most likely emerge as the market leader between 2020 and 2027, with the United States expected to take the lead. The rapidly accelerated cases of multiple sclerosis and substantial R&D spending by biotech and pharma firms will also ensure that the American market continues to lead throughout the evaluation period.
Asia Pacific is slated to achieve the fastest growth rate over the review timeframe, thanks to the exploding patient base with a host of unmet medical needs along with the mounting demand for technologically innovative treatments. Southeast Asian nations like India, Malaysia, and China are presumed to contribute significant market growth in the region. The rapidly improving healthcare sector in the region would also favor the multiple sclerosis industry in the next couple of years.
Top Firms
Biogen Idec (US), Bayer Healthcare (Germany), Pfizer Inc. (US), Teva Pharmaceuticals (Isreal), AbbVie (US), Novartis (Switzerland), Sanofi Aventis (France), Merck (US), are the top multiple sclerosis treatment solutions and devices developers in the worldwide market. Each of these firms have a sizeable share in the global industry, and are trying to further elevate their positions by indulging in partnerships, conducting research and development activities, acquisition and mergers, and more.
Latest Updates
August 2021
Landos Biopharma has embarked on a new partnership with the Johns Hopkins University School of Medicine, with the key focus on accelerating LABP-66 for use as a potential once-daily, oral therapy to treat multiple sclerosis (MS) and various disorders. The company plans to achieve approval for bringing LABP-66 into clinical study by 2022, in an effort to assess its effects on autoimmune disorders along with the significance of the NLRX1 pathway in controlling immune cells.
June 2021
Teva Pharmaceutical Industries Ltd. Along with St. Josef Hospital (Germany) has undertaken the COBRA study, which offers extensive insights on the effects of COPAXONE (glatiramer acetate) on mothers affected by multiple sclerosis (MS) and are breastfeeding. This study represents the biggest review of child outcomes being breastfed by mothers under treatment using GA, assessing 120 mothers suffering from MS as well as their infants.
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