According to the latest report by IMARC Group, titled "Multiple Sclerosis Therapies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global multiple sclerosis therapies market size reached US$ 24.4 Billion in 2020. Multiple sclerosis (MS) therapies refer to various drugs and treatments that help modify the course of the disease, speed up recovery from attacks, and manage symptoms in patients. Some commonly used MS therapies include antidepressants, immunosuppressants, physical therapy, muscle relaxants, and oral, infused and injectable medicines. They aid in treating specific MS symptoms, reducing the frequency of relapses, and controlling the heart rate and blood pressure of patients. Presently, there is no cure for MS; however, doctors can determine the most suitable therapies that cause the least side effects and help the patient manage the disease.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Multiple Sclerosis Therapies Market Trends:
The rising prevalence of relapsing-remitting MS (RRMS) and secondary-progressive MS (SPMS) represents the primary factor driving the global market. Besides this, several initiatives undertaken by government and non-government organizations to spread awareness regarding MS symptoms and available treatment options are catalyzing the market growth. Additionally, the escalating demand for novel potent and rapid-acting drugs is encouraging manufacturers to develop advanced product variants with high efficacy, low dosage requirements and minimal side effects. This, in confluence with the heavy investments by key players in the drug development process, is propelling the market growth. Furthermore, the launch of innovative monoclonal bodies, immunosuppressants, immunomodulators, and interferons to effectively treat MS symptoms is accelerating product adoption rates. Other factors, including recent technological advancements, ongoing research and development (R&D) activities, improving healthcare infrastructure and increasing focus of pharmaceutical companies on pipeline drugs, are creating a favorable market outlook. Looking forward, the market is anticipated to grow at a CAGR of around 5% during the forecast period (2021-2026).
- Based on the drug, the market has been classified as immunomodulators (Copaxone, Avonex/Plegridy, Gilneya, Tysabri, Betaseron/Extavia, Tecifidera, Rebif and Ampyra) and immunosuppressants (Aubagio, Lemtrada, Ocrelizumab, and Zinbryta).
- The market has been bifurcated based on the drug type into biologic and small molecule drugs.
- Based on the route of administration, the market has been divided into oral, injectable, and intravenous.
- Based on the distribution channel, the market has been segmented into hospital, retail and online pharmacies.
- Region-wise, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being AbbVie Inc., Bayer AG, Biogen Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd. (Roche Holding AG), GlaxoSmithKline Plc, Merck & Co. Inc., Novartis International AG, Sanofi S.A., and Teva Pharmaceutical Industries Ltd.
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