Multiple Sclerosis Drugs Market anticipated to expand at CAGR of 7.2% by 2032, owing to growing R&D investments in neurology | insightSLICE
The market for Multiple Sclerosis Drugs was valued at $25.2 billion in 2021 and is projected to grow at a CAGR of 7.2% through 2032.
Multiple sclerosis (MS) is a long-term, inflammatory, autoimmune disorder of the nervous system that affects the spinal cord and the central nervous system, especially the connections between the brain and other parts of the body, leading to loss of balance, impaired coordination, and impaired vision.
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The immune system attacks the protective fat layer known as myelin that surrounds the nerve fibers and causes problems with muscle control, vision, and other body functions. In essence, MS is a demyelinating, immune-mediated condition that harms the insulating caps of the nerve cells in the brain and spinal cord (CNS).
Long-term incapacity may be a result of the condition. Inflammation, demyelination, abnormal development such as progressive brain and neuroaxonal atrophy, and spinal cord degeneration, among others, are its defining characteristics.
Currently, a number of research projects are being conducted in this area, which is anticipated to create a competitive environment for the manufacturers of multiple sclerosis drugs to grow new and innovative treatments, which is anticipated to create a myriad of opportunities in the market for multiple sclerosis treatments.
The key players of the Global Multiple Sclerosis Drugs Market are:
The biggest companies involved in the global multiple sclerosis drugs market include EMD Serono (Merck KGaA), AbbVie, Inc., Novartis, Roche, Biogen, Bayer HealthCare, Sanofi, Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Merck & Co., Inc., Actelion Pharmaceuticals (Johnson & Johnson), GlaxoSmithKline, CinnoVex, Extavia, Rebif, Acorda Therapeutics Inc., Betaseron, and Tysabr.
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Factors driving the Multiple Sclerosis Drugs Market growth:
The market is experiencing excellent profits in terms of income earned from the outcomes of the clinical research and R&D investment, which is one of the factors boosting the market’s growth.
Investments are made in activities targeted at research and development to support the market. Globally, a lot of pharmaceutical companies are concentrating on creating novel medicines to treat MS.
The industry has been further strengthened by numerous research agreements between pharmaceutical corporations and research institutes made possible by increased research activity on numerous fresh candidates.
The disease’s increasing prevalence has compelled many governments to seek proactive interventions using suggestions and guidelines. In addition, government organizations are starting several campaigns to raise awareness about this problem and inform patients about their treatment options.
Government funding as well as assistance from numerous non-governmental groups both contribute to the expansion of the multiple sclerosis pharmaceuticals market.
The use of various medications for multiple sclerosis has also been recommended by governments of many nations, including the U.S. and the U.K.
Take the recommendations made by the National Institute of Health and Care Excellence (NICE) regarding the use of beta interferons such as Avonex, Rebif, Extavia, Betaferon, and glatiramer acetate, which were published in June 2018.
Such clinical guidelines and suggestions increase public awareness of the range of available treatments, which is positive for the expansion of the multiple sclerosis pharmaceutical industry.
Global Multiple Sclerosis Drugs Market Key Segments:
By Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
By Route of Administration
- Oral
- Injection
- Intramuscular
- Subcutaneous
- Intravenous
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of APAC
- South America
- Brazil
- Rest of South America
- Middle East & Africa
- UAE
- South Africa
- Saudi Arabia
- Rest of MEA
The leading market segments of Global Multiple Sclerosis Drugs Market
The market for immunomodulators led the drug class segment:
The market is divided into immunomodulators, immunosuppressants, interferons, and others depending on the drug class. The market for MS medications is dominated by the immunomodulators sector, and it is anticipated that it will continue to hold this position throughout the projected period.
The market for immunomodulators is expanding due to a variety of causes, including new product introductions, increased demand over its competitors, and more treatment alternatives.
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The market for injection leads the administration segment:
Zeposia’s introduction has helped the oral market’s route of the administration sector. While there are oral and injection medications for treating multiple sclerosis, the injection market—which is further divided into intramuscular, subcutaneous, and intravenous—has the largest market share.
The increased incidence of multiple sclerosis and aggressive government suggestions are to blame for this. Additionally, the renewed emphasis on humanized monoclonal antibodies in research is likely to support the expansion of the injectable market.
Hospital Pharmacy is the market leader in the distribution channel sector:
The distribution channel category is dominated by the hospital pharmacy market. The hospital pharmacy currently continues to dominate the multiple sclerosis drugs market and is anticipated to do even throughout the forecast period.
This could be because of favorable health reimbursements and the sharp rise in government efforts to improve hospital pharmacies in government-run hospitals. The distribution channel of the multiple sclerosis drugs market is fragmented into retail pharmacies, online pharmacies, and hospital pharmacies.
In the regional segment, North America has the greatest market share, followed closely by Europe:
North America dominated the regional segment of the market for multiple sclerosis drugs, and the main reasons for this are the ongoing rise in R&D spending, the introduction of new products, and the increased need for immunosuppressants.
Due to active government legislation and regulations and supportive health reimbursement systems, Europe is the second-most important region in terms of income.
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