Global Multiple Sclerosis Therapies Market Size, Share, Forecast Report, 2020-2027

The global multiple sclerosis therapies market size was valued at $22.99 million in 2018, and is projected to reach $28.00 million by 2026, registering a CAGR of 2.5% from 2019 to 2026.Multiple sclerosis is a chronic, inflammatory medical condition, which results in demyelination, axonal transection, and neurodegeneration of the nerve cells of the brain and spinal cord. The immune system of the body targets the neurons within the central nervous system and damages the myelin sheath. It is a potentially debilitating disease, causing disruption in communication and coordination functions of the body. The symptoms of multiple sclerosis differ widely, subject to the extent of damage and the number of neurons affected. Some of the symptoms observed are fatigue, numbness, spasticity, bladder dysfunction, cognitive changes, emotional changes, and depression. An individual suffering from severe MS experiences speech and movement problems. Multiple sclerosis can be broadly classified into four types, RRMS, SPMS, PPMS, and PRMS.
One of the major challenges in the global MS therapies market is the unknown etiology of the disease. Thus, it is difficult for medical researchers to develop drugs that target the key source of the disease. However, the introduction of disease-modifying drugs as a treatment option is a key factor that drives the global MS therapies market growth. In addition, the growth of the global MS therapies market is driven by shift in preference toward oral drugs. For example, drugs such as Copaxone (Glatiramer Acetate) by Teva Pharmaceuticals and Tysabri (Natalizumab) by Biogen Idec are increasingly used in the treatment of multiple sclerosis. Moreover, increase in number of pipeline drugs is anticipated to offer remunerative opportunities for market expansion during the forecast period. Daclizumab, RG1594 (Ocrelizumab), and Lemtrada (Alemtuzumab) are the novel late stage pipeline products likely to enter the market during the forecast period. The launch of new pipeline products is expected to change the present market scenario, which is dependent on injectable formulations (such as Avonex, Betaseron/Betaferon, Rebif, Copaxone, and Tysabri). These drugs need to be injected frequently, and their dose frequency ranges from daily to weekly administration. Some of the new drugs are oral formulations (Aubagio and BG-12) while others are injectable formulations (Daclizumab, Ocrelizumab, and Alemtuzumab), and all require dosing either once a month or once every six months. Therefore, these drugs are expected to be well-tolerated and improve patient compliance. In addition, the price of these products is expected to be lower than the price of the current products. Some of these products have shown superior efficacy (BG-12 and Lamtrada) in clinical trials compared with the currently approved products (Copaxone and Rebif).

Type Segment Review
On the basis of type, the market is classified into immunosuppressants and immunomodulators.The immunosuppressants segment was the highest contributor to the market, owing to their beneficial effects for patients suffering from relapsing-remitting multiple sclerosis (RRMS) by weakening the immune system, thereby suppressing the autoimmune attack in the patient’s body and preventing relapses. In addition, the increase in product approvals for the treatment of MS therapies is anticipated to propel the MS therapies market growth globally.Currently, the immunosuppressants that have been approved for use only in relapsing forms of MS, include alemtuzumab, dimethyl fumarate, fingolimod, glatiramer acetate, interferon beta preparations, natalizumab, ocrelizumab, and teriflunomide.
Route of Administration Segment Review
Depending on route of administration, the market is divided into oral, injectable, and intravenous.The oral route of administration promotes patient satisfaction and increases therapeutic compliance. Significant therapeutic advances in the new orally administered drugs approved for the MS treatment represent boost the growth of the market. Three oral drugs have been approved by regulatory agencies for the treatment of MS, which include fingolimod, teriflunomide, and dimethyl fumarate. The mechanisms of action, efficacy, and safety of these drugs that have yielded positive results in phase III trials, which is a key factor that contributes toward the growth of the global MS therapies market.
Region segment review
North America accounted for the largest global MS therapies market share in 2018, owing to increase in demand for MS therapeutic products. In addition, the factors that boost the growth of the MS therapies market in North America include easy availability of MS therapies and increase favorable reimbursement policies by government for MS treatment. Moreover, the presence of key players such as Pfizer, Novartis, and Bayer in the region contributes to the growth of market.Furthermore, it has been observed that rates of MS are higher in regions further from equator; thus, the prevalence of MS is alarmingly high in North America. For instance, according to the Government of Canada, in 2014-15, approximately 77,000 people were suffering from MS. In addition, according to the Global Burden of Disease Study, 2016, North America accounted for highest age-standardized MS prevalence at 164.6 per 100,000 population. Therefore, rise in prevalence has led to surge in demand for MS therapies in the region, thereby fueling the growth of the market.

Key Benefits For Stakeholders

• This report provides a detailed quantitative analysis of the current MS therapies market trends and forecast estimations from 2019to 2027, which assists to identify the prevailing MS the rapies market opportunities. 

• An in-depth market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.

• A comprehensive analysis of factors that drive and restrain the growth of the global is provided.

• Region-wise and country-wise market conditions are comprehensively analyzed in this report.

• The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2027, in terms of value.

• An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.

• Key market players within the MS therapies market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of global MS therapies market.

Key Market Segments

By Type

• Immunosuppressants
• Immunomodulators

By Route Of Administration

• Oral
• Injectable
• Intravenous

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Spain
  • Italy
  • UK
  • Rest of Europe
• Asia-Pacific
  • Japan
  • India
  • China
  • Australia
  • Rest of Asia-Pacific
• LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA