Asia Pacific Multiple Sclerosis Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Drug Class, Route of Administration, and Distribution Channel

The immunosuppressants segment by drug class is estimated to lead the market growth during the forecast period.

According to this study, the Asia Pacific multiple sclerosis therapeutics market is expected to reach US$ 7,130.85 million by 2027 from US$ 4,129.20 million in 2019; it is estimated to grow with a CAGR of 7.2% from 2020 to 2027. The report highlights trends prevailing in the Asia Pacific multiple sclerosis therapeutics market and the factors driving market along with those that act as hindrances.

The Asia Pacific multiple sclerosis therapeutics market, by drug class, is segmented into immunosuppressant and immunomodulators. The immunomodulators segment held the largest share of the market in 2019, whereas the immunosuppressants segment is anticipated to register the highest CAGR in the market during the forecast period.

Multiple sclerosis is a widespread disabling neurological condition that is mostly diagnosed in people in the age group of 20-50 years. The market is witnessing significant investments in clinical research and developments. Many pharmaceutical companies are focusing on developing novel therapies for the treatment of MS. Increased research have also paved the way for many research collaborations between pharmaceutical companies and research institutes. Increased research on various novel candidates has resulted in strengthening the pipeline portfolio of leading and small-scale pharmaceutical companies. The expected launch of these pipeline candidates drives the growth of the Asia Pacific multiple sclerosis treatment market. Also, the rising prevalence of the disease has forced governments of many countries to take proactive measures through guidelines and recommendations. Various awareness initiatives are also being launched by government associations to educate patients regarding MS drugs and treatments options available in the market, which boost the market growth.

Asia Pacific countries are witnessing massive challenges due to the increasing number of COVID-19 confirmed cases. The COVID-19 outbreak has severely affected the healthcare industry, considering the economic conditions in the current situation. Precautionary measures have been taken to control the spread of the novel coronavirus. However, in this measure, hospitals, clinics, diagnostic centers, and ambulatory surgery centers (ASCs) are not attending any general patient on priority. Universities across Asia Pacific are closed. Also, access to research labs is restricted, ongoing projects are postponed, fieldwork is interrupted, and travelling is prohibited. All these factors are restraining the growth of the Asia Pacific multiple sclerosis therapeutics market.

The growth of the market is attributed to some key driving factors such as increasing prevalence of multiple sclerosis and rise in funding for multiple sclerosis research. However, the high cost of the multiple sclerosis treatment may hinder the market growth.

Merck & Co., Inc., Novartis AG, Bayer AG, Sanofi, Bristol-Myers Squibb Company, TEVA PHARMACEUTICAL INDUSTRIES LTD, Takeda Pharmaceutical Company Limited, F. HOFFMANN-LA ROCHE LTD, and Biogen are among the leading companies operating in Asia Pacific multiple sclerosis therapeutics market.

The report segments in Asia Pacific Multiple Sclerosis Therapeutics Market as follows:

By Drug Class

• Immunosuppressant
• Immunomodulators

By Route of Administration

• Injectable
• Oral

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• E-Commerce

By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific