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Multiple Sclerosis Drugs Market to Grow at 7.1% CAGR till 2027; Growing Preference for Oral Administration of MS Medication to Propel the Market

July 29, 2020 | Healthcare

The global multiple sclerosis drugs market size is projected to reach USD 40.66 billion by 2027 owing to increased funding for medical research in emerging economies, shares Fortune Business Insights™ in its report, titled “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, Online Pharmacy), and Regional Forecast, 2020-2027”. According to the report, the market value was at USD 25.00 billion in 2019 and is expected to register a CAGR of 7.1% from 2020 to 2027.


The multiple sclerosis drugs market growth is likely to be hindered throughout 2020 as medical experts are advising MS patients to avoid taking disease-modifying therapies (DMT) for their condition because these therapies increase the patients’ vulnerability to the coronavirus. However, with patients delaying their hospital visits, the sales of MS drugs has spiked in the past few months.


Adamas Releases Update on Its INROADS Study


In June 2020, Adamas Pharmaceuticals, the California-based specialist in neurological diseases, completed its evaluation of the efficacy of its ADS-5102 medication designed for multiple sclerosis patients with walking impairment. The evaluation was done through a 12-week-long, randomized, and placebo-controlled study called INROADS. According to the study results released by the company, MS patients taking a 274gm dose of ADS-5102 displayed an improvement rate of 21.1% compared to 11.3% of those on placebo. The company now plans on conducting a Phase 3 confirmatory study, as per the directives of the US Food and Drug Administration (FDA), before it is made commercially available in the market.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/multiple-sclerosis-drugs-market-100386


Issuance of Comprehensive Guidelines for MS Treatment to Augment Market Growth


Multiple sclerosis is a complex disease and needs to be treated with utmost care and accuracy. To enable neurologists and other physicians to efficiently manage MS patients, organizations such as the European Academy of Neurology (EAN) and the American Academy of Neurology (AAN) have been issuing guidelines on treating MS patients. For example, the AAN recommends the use of alemtuzumab, fingolimod, or natalizumab for active relapsing remitting MS (RRMS) patients. In case of patients with primary progressive MS (PPMS), both the AAN and the EAN advise neurologists to opt for ocrelizumab. The two organizations also come out with specific guidelines for the use of MRI in treating MS patients. These and many other guidelines framed by expert bodies such as the EAN and the AAN are augmenting the MS treatment market growth.


Intense Focus of Players on Clinical Trials to Intensify Market Competition


Pharmaceutical giants such as Biogen and Pfizer are dominating the competitive landscape of this market on account of their diverse product portfolios and massive global presence. The focus of these companies has always been on conducting clinical trials, with strong support from intensive R&D activities. As a result, these companies are constantly developing novel drugs and therapies for different health conditions, thereby tightening their hold on the pharmaceuticals market.


Industry Development:



  • March 2020: US-based TG Therapeutics announced that abstracts associated with the company’s glycol-engineered monoclonal antibody, ublituximab, for treating relapsing forms of MS has been selected for an AAN event to be held in Toronto in May 2020.


List of Key Companies Profiled in this Market Report:



  • Pfizer Inc. (New York, U.S.)

  • Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel)

  • Merck & Co., Inc. (New Jersey, U.S.)

  • F. Hoffmann-La Roche Ltd. (Basel, Switzerland)

  • Biogen (Massachusetts, U.S.)

  • Bristol-Myers Squibb Company (New York, U.S.)

  • Sanofi (Paris, France)

  • Novartis AG (Basel, Switzerland)


Further Report Findings:



  • The immunomodulators segment, which held a share of 67.4% in the market in 2019, is expected to retain its leading position owing to wider availability of immunomodulators-based treatment options for MS.

  • With a market size of USD 14.74 billion in 2019, North America is expected to dominate the multiple sclerosis drugs market share in the coming years on account of increasing prevalence of MS in the region.

  • The market is anticipated make considerable gains in the Middle East & Africa and Latin America as a result of improved healthcare spending.


Table of Segmentation:











































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion)



 



By Drug Class



  • Immunomodulators

  • Immunosuppressants

  • Interferons

  • Others



By Route of Administration



  • Oral

  • Injection

    • Intramuscular

    • Subcutaneous

    • Intravenous





By Distribution Channel



  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Pharmacy



By Geography



  • North America (the U.S. and Canada)

  • Europe (the U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • The Middle East & Africa ( GCC, South Africa, and Rest of the Middle East & Africa)


Multiple Sclerosis Drugs Market
  • PDF
  • 2019
  • 2016-2018
  • 160

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