Multiple Sclerosis Market Growth by In Depth Survey and Revenue Estimation through 2026
Pune, Maharashtra, India, September 15 2020 (Wiredrelease) Allied Analytics –:Global MS therapies market was valued at $22.99 billion in 2018, and is projected to reach $28.00 billion 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.
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According to the National MS society’s National Medical Advisory Committee, the decisions regarding disease modifying therapies should be collaboratively taken between the person with MS and his healthcare provider during the COVID-19 pandemic.On the basis of their expert advice the society recommends that people with MS should follow CDC guidelines along with additional information for people at risk for serious illness from COVID 19. People with MS should continue DMTs and discuss precise risks with their MS healthcare provider before stopping a DMT.On the other hand, the pharmaceutical providers all over the world are tackling the situation in terms of production to meet essential requirements. Moreover, the medicinal and other requirement for therapies may witnessed either shortage or delay due to disruption in the supply chain.
The Immunosuppressant segment to maintain its lead status-
Based on type, the immunosuppressant segment accounted for nearly two-thirds of the total share of the global multiple sclerosis therapies market in 2018, and is expected to maintain its lead status in terms of revenue throughout the forecast period. In addition, the segment is anticipated to manifest the fastest CAGR of 2.8% from 2019 to 2026. This is due to their beneficial effects for patients suffering from relapsing-remitting multiple sclerosis (RRMS). The immunosuppressant suppresses the autoimmune attack in the patient’s body and prevents relapses.
The oral segment to maintain its leadership position during the forecast period-
Based on route of administration, the oral segment contributed to the highest market share with more than two-fifths of the global multiple sclerosis therapies market share in 2018, and is estimated to maintain its leadership position during the forecast period. Furthermore, the segment is estimated to generate the fastest CAGR of 2.8% from 2019 to 2026. This is due to significant therapeutic advances in the new orally administered drugs approved for the MS treatment.
North America to maintain its dominant by 2026-
Based on region, North America, accounted for the highest share based on revenue, holding for nearly two-fifths of the total share of the global multiple sclerosis therapies market in 2018, owing to rise in U.S. FDA approvals for medications used in the treatment of MS and improved healthcare system in this region. However, LAMEA is estimated to portray the fastest CAGR of 3.1% from 2019 to 2026, owing to the high prevalence of MS in the Middle East countries.
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Leading market players-
Bayer AGBiogenBristol-Myers Squibb CompanyABBVIE INC.F. Hoffmann-La Roche Ltd.Merck KGaANovartis AGPfizer Inc.SANOFITeva Pharmaceutical Industries Ltd.
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