Middle East & Africa Multiple Sclerosis Drugs Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Immunomodulators, Immunosuppressants, Interferons, and Others), By Route of Administration (Oral and Injection {Intramuscular, Subcutaneous, and Intravenous}), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2023-2030

The Middle East & Africa is expected to witness growth in the global multiple sclerosis drugs market. It is projected to grow at a CAGR of 5.7% during the forecast period. The global market for multiple sclerosis drugs is projected to grow from USD 22.32 billion in 2022 to USD 31.90 billion by 2030.

Multiple sclerosis is caused when the immune system damages the nerves' protective membrane, disrupting the body’s normal functioning. The increasing prevalence of the disease has been fueling the demand for multiple sclerosis drugs. Moreover, the improving public healthcare system along with the rising awareness regarding multiple sclerosis treatment in countries of the region is estimated to aid the growth of the Middle East& Africa. market

Our report on the Middle East & African market covers the following countries/regions – GCC, South Africa, and the rest of Middle East & Africa.

LATEST TRENDS

Increasing Use of Monoclonal Antibodies for the Disease Treatment to Fuel Market Growth

Incorporation of monoclonal antibodies for the treatment of the disease has been increased recently. This is due to increasing awareness about the efficiency of monoclonal antibodies in multiple sclerosis disease treatment. Sales of molecular antibody drugs, such as Lemtrada and Ocrevus, have been increasing significantly.

Therefore, the increasing penetration of molecular antibody multiple sclerosis drugs has been fueling the Middle East & Africa multiple sclerosis drugs market growth.

DRIVING FACTORS

Market Players’ Increasing Focus on Commercialization of MS Drugs in the Region to Fuel Market Growth

Market players have increased their focus on the commercialization of multiple sclerosis drugs in the region to increase the accessibility of effective treatment to patients.

• For instance, in April 2018, Merck KGaA, announced the registration approval of MAVENCLAD (cladribine tablets) by United Arab Emirates Ministry of Health and Prevention indicated to adult patients with active relapsing Multiple Sclerosis (MS). With this approval, MAVENCLAD became the first drug approved in the Middle East & Africa, and the UAE became the first country in the region for the approval. The approval was directed by the Ministry of Health and Prevention, with an aim to improve healthcare services in the country.

The commercialization of these drugs has been fueling the market growth in the region.

RESTRAINING FACTORS

High Cost Associated with the Disease Treatment through Drugs to Limit the Market Growth

Prevalence of the disease has been increasing significantly, which has been elevating the demand for effective treatment. However, high cost associated with the overall treatment through for multiple sclerosis drugs tends to limit the market growth.

Furthermore, due to the limitations associated with diagnosis of the disease, many times the patients are not aware about their disease. Due to this, they do not get accurate treatment. Such factors tend to limit the market growth.

KEY INDUSTRY PLAYERS

Based on the Middle East & Africa multiple sclerosis drugs market share, Biogen, Novartis AG, and F. Hoffman-La Roche Ltd. are significant players operating in the market. The growth of these players is due to the strong product portfolio of these companies. 

Other players, such as Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Bristol-Myers Squibb Company, have increased their focus on mergers and acquisitions to strengthen their position in the market.

LIST OF KEY COMPANIES PROFILED:

• Biogen (U.S.)
• Pfizer Inc. (U.S.)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Novartis AG (Switzerland)
• Merck & Co., Inc. (U.S.)
• Sanofi (France)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Janssen Pharmaceuticals, Inc. (Johnson & Johnson Corporation) (New Jersey)
• Bristol-Myers Squibb Company (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• February 2018: Merck announced that the Argentinian Administration of Medicines, Food and Medical Technology (ANMAT) approved the registration of MAVENCLAD (cladribine tablets) for the treatment of adult patients with highly active relapsing Multiple Sclerosis (MS) as defined by clinical or imaging features. This marked the first approval for MAVENCLAD in Latin America and following local regulatory processes.
• February 2018: Bayer announced the introduction of self-injecting device to help the growing number of multiple sclerosis patients in the Middle East. Bayer stated that it was an auto-injector and would be the first component of an innovative dose delivery system for MS.

REPORT COVERAGE

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The research report provides qualitative and quantitative insights on the market and a detailed analysis of the market size & growth rate for all possible segments in the market. Along with the market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are overview of the prevalence of the disease, pipeline analysis, new product launches, and key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 pandemic on the market.

Report Scope & Segmentation