The global multiple sclerosis therapies market 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 growth of the global MS therapies market. In addition, the growth of the global MS therapies market is driven by a 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, an increase in the 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 to 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).
The global MS therapies market is segmented into type, route of administration, and region. On the basis of type, the market is classified into immunosuppressants and immunomodulators. Depending on the route of administration, the market is divided into oral, injectable, and intravenous. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The major revenue contributor in the MS therapies market is North America, and is expected to continue this trend during the forecast period owing to a rise in the U.S. FDA approvals for medications used in the treatment of MS, followed by Europe and Asia-Pacific. However, a lack of medications to cure multiple sclerosis hampers the growth of the global market. This is attributed to the fact that there are no standard established treatment procedures for multiple sclerosis. Therefore, an increase in R&D activities to develop medications for the treatment of multiple sclerosis is expected to drive the market growth during the forecast period.
The major companies profiled in the global MS therapies market include Abbvie Inc., Bayer AG, Biogen, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Merck KGaA, Novartis AG, Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
BY TYPE
BY ROUTE OF ADMINISTRATION
By Region
KEY MARKET PLAYERS
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 growth of the global MS therapies market. In addition, the growth of the global MS therapies market is driven by a 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, an increase in the 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 to 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).
The global MS therapies market is segmented into type, route of administration, and region. On the basis of type, the market is classified into immunosuppressants and immunomodulators. Depending on the route of administration, the market is divided into oral, injectable, and intravenous. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The major revenue contributor in the MS therapies market is North America, and is expected to continue this trend during the forecast period owing to a rise in the U.S. FDA approvals for medications used in the treatment of MS, followed by Europe and Asia-Pacific. However, a lack of medications to cure multiple sclerosis hampers the growth of the global market. This is attributed to the fact that there are no standard established treatment procedures for multiple sclerosis. Therefore, an increase in R&D activities to develop medications for the treatment of multiple sclerosis is expected to drive the market growth during the forecast period.
The major companies profiled in the global MS therapies market include Abbvie Inc., Bayer AG, Biogen, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Merck KGaA, Novartis AG, Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current global multiple sclerosis therapies market trends and future estimations from 2019-2026, which assists to identify the prevailing market opportunities.
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global multiple sclerosis therapies market is provided.
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
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
KEY MARKET PLAYERS
- Abbvie Inc.
- Bayer AG
- Biogen
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd.
- Merck KGaA
- Novartis AG
- Pfizer Inc.
- Sanofi
- Teva Pharmaceutical Industries Ltd.
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: MS Therapies Market, by Type
Chapter 5: MS Therapies Market, by Route of Administration
Chapter 6: MS Therapies Market, by Region
Chapter 7: Company Profiles
Executive Summary
According to the report titled, 'Multiple sclerosis therapies market by Type and Route of Administration: Opportunity Analysis and Industry Forecast, 2019-2026' the global MS 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 categorized as an autoimmune, chronic, and inflammatory disease of the CNS. According to the data published by the National Multiple Sclerosis Society, around 1.0 million individuals have multiple sclerosis in the U.S. alone, and approximately 2.3 million people globally. This number is further expected to continue to grow each year, which, in turn, makes it important to discover multiple sclerosis therapies with improved effectiveness and minimum side effects. Government as well as non-government bodies in developed and emerging regions are contributing funds for R&D of new multiple sclerosis therapies and increasing awareness related to multiple sclerosis.The global MS therapies market is segmented into type, route of administration, and region. By type, the market is bifurcated into immunosuppressants and immunomodulators. Depending on route of administration, it is divided into oral, injectable, and intravenous. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of type, the immunosuppressants segment is expected to grow at a lucrative CAGR of 2.80%, owing to increase in use of immunosuppressive therapies for treating multiple sclerosis in developed countries. Furthermore, 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 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.
As per route of administration, the oral segment is anticipated to grow significantly in the near future, due to increase in product approval and lesser side effects of medication. 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 MS therapies 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 market.
The report provides a comprehensive analysis of the key players operating in the global multiple sclerosis therapies market, which includeABBVIE INC., Bayer AG, Biogen, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Merck KGaA, Novartis AG, Pfizer Inc., SANOFI, and Teva Pharmaceutical Industries Ltd.
Key Findings of the Study:
North America garnered 36.33% share of the global MS therapies market in 2018.
By type, immunosuppressants segment is anticipated to grow with the highest CAGR throughout the forecast period.
The injectable segment accounted for 33.10% share of the market in 2018.
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 MS therapies market growth 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 MS therapies market.
Companies Mentioned
- ABBVIE INC.
- Bayer AG
- Biogen
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd.
- Merck KGaA
- Novartis AG
- Pfizer Inc.
- SANOFI
- Teva Pharmaceutical Industries Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 151 |
| Published | May 2020 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 22.99 million |
| Forecasted Market Value ( USD | $ 28 million |
| Compound Annual Growth Rate | 2.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
