Multiple Sclerosis Drug Market Expected to Reach ~ $ 31.5 Billion by 2027 – TechnoWeekly

Multiple Sclerosis Drugs Market: Introduction

In terms of revenue, the multiple sclerosis drugs market is expected to expand at a CAGR of ~ 6% during the forecast period, due to numerous factors, on which TMR offers comprehensive insights and forecasts globally market for multiple sclerosis drugs relationship.

Multiple sclerosis is a disease of the central nervous system. It is a potentially disabling disease of the spinal cord and brain. In multiple sclerosis, the immune system attacks the myelin (protective sheath) that protects nerve fibers, causing communication problems between the brain and the rest of the body. Multiple sclerosis can cause permanent deterioration or nerve damage. The cause of multiple sclerosis is still unknown. Researchers believe that genetic and environmental factors contribute to the risk of developing multiple sclerosis.

The rise in the prevalence and incidence of multiple sclerosis, the rapid increase in the geriatric population leading to an increase in multiple sclerosis cases, and the increased awareness of multiple sclerosis are the main factors fueling the growth of the drug market for multiple sclerosis.

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Use of monoclonal antibodies for the treatment of multiple sclerosis

In terms of drug class, the multiple sclerosis drug market has been segmented into interferon beta, sphingosine 1 phosphate receptor modulators, mixed polymers, NF-κB inhibitor, pyrimidine synthesis inhibitor, monoclonal antibodies, corticosteroids, adrenocorticotropic hormone and others. The segment of interferon beta accounted for a major share of the multiple sclerosis drug market in 2018. Interferon beta is a cytokine of the interferon family used to treat multiple sclerosis. Interferons are proteins produced by the human body.

Interferon beta drugs include Avonex, Betaseron, Extavia, Rebif, and Plegridy. However, the monoclonal antibody segment is expected to dominate the multiple sclerosis drug market during the forecast period. The segment’s dominance can be attributed to the launch of new monoclonal antibody products for the treatment of multiple sclerosis, including Ofatumumab and Ublituximab, during the forecast period.

High prevalence of relapsing-remitting MS (RRMS)

In terms of disease type, the multiple sclerosis drug market has been segmented into relapsing-remitting MS (RRMS), primary progressive MS (PPMS), secondary progressive MS (SPMS) and progressive relapsing MS (PRMS). The segment is expected to dominate the global market during the forecast period, due to the large pool of patients with RRMS. Approximately 75-85% of the population with MS have relapsing-remitting MS (RRMS).

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Parenteral preference of drug administration

In terms of route of administration, the multiple sclerosis drug market has been divided into parenteral and oral. The parenteral segment dominated the multiple sclerosis drug market in terms of share in 2018. The segment is expected to dominate the market during the forecast period. More than 60% of multiple sclerosis medications are in injectable form. Additionally, the launch of injectable drugs, such as Ocrevus, Cladribine, and Ofatumumab, and the increased use of these drugs for the treatment of multiple sclerosis are likely to drive the segment during the forecast period.

Retail pharmacies and drug stores will be the preferred distribution channel

Based on the distribution channel, the multiple sclerosis drug market has been classified into hospital pharmacies, retail pharmacies, and drug stores and online pharmacies. The retail pharmacy and drug store segment is expected to make up a significant share of the multiple sclerosis drug market by 2027. A large share of the segment can be attributed to the easy availability of multiple sclerosis drugs in pharmacies retail and in the large number of retail pharmacies in the United States, Europe and developing countries. The increase in the number of retail pharmacy chains in developing and developed countries is expected to fuel segment growth over the forecast period.

Multiple Sclerosis Drugs Market: Prominent Regions

North America will create a high incremental opportunity

In terms of revenue, North America is expected to dominate the multiple sclerosis drug market from 2019 to 2027. This can be attributed to higher sales of multiple sclerosis drugs in countries such as the United States and Canada. Additionally, the increased prevalence of multiple sclerosis in the region and favorable medical reimbursement policies in the United States and Canada drive the market in North America. However, the multiple sclerosis drug market in Asia Pacific is expected to expand with a relatively high CAGR during the forecast period. The multiple sclerosis drug market in Asia Pacific is driven by a large pool of multiple sclerosis patients in China and Japan, the approval and launch of new products, and increased investment from major players in the region in therapeutic drugs for multiple sclerosis disease.

New product launches in China and Japan and rigorous marketing campaigns by major players to gain competitive advantage are expected to boost the market in Asia Pacific during the forecast period. However, the patent expiration of the top branded drugs in Japan is expected to hinder market growth in the country from 2018 to 2020.

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