New York, Nov. 09, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners new research study titled "Multiple Sclerosis Therapeutics Market Size, Share, Growth and Forecast to 2027 – COVID-19 Impact and Global Analysis – by Drug Class, Route of Administration, Distribution Channel, and Geography," the market was valued at USD 24.02 billion in 2019 and is projected to reach USD 39.22 billion by 2027.
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Global Multiple Sclerosis Therapeutics Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 24.02 billion in 2019 |
| Market Size Value by | USD 39.22 billion by 2027 |
| Growth rate | CAGR of 6.5% from 2020 to 2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 169 |
| No. of Tables | 84 |
| No. of Charts & Figures | 70 |
| Historical data available | Yes |
| Segments covered | Drug Class, Route of Administration, Distribution Channel and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Merck & Co., Inc.; Novartis AG; Bayer AG; Sanofi; Bristol-Myers Squibb Company; Horizon Therapeutics plc; TEVA PHARMACEUTICAL INDUSTRIES LTD; Takeda Pharmaceutical Company Limited; F. HOFFMANN-LA ROCHE LTD |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Global Multiple Sclerosis Therapeutics Market Forecast to 2027 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00004057/ |
Multiple Sclerosis Therapeutics Market: Competitive Landscape and Key Developments
Merck & Co., Inc.; Novartis AG; Bayer AG; Sanofi; Bristol-Myers Squibb Company; Horizon Therapeutics plc; TEVA PHARMACEUTICAL INDUSTRIES LTD; Takeda Pharmaceutical Company Limited; F. HOFFMANN-LA ROCHE LTD.; and Biogen are among the key players operating in the global multiple sclerosis therapeutics market. These companies adopt product innovation strategies to meet the evolving customer demands worldwide and maintain their brand value in the global multiple sclerosis therapeutics market.
A few of the recent developments in the global multiple sclerosis therapeutics market are mentioned below:
In June 2020, Bristol Myers Squibb launched ZEPOSIA (ozanimod) 0.92 mg—a sphingosine-1-phosphate (S1P) receptor modulator to treat the relapsing multiple sclerosis (RMS) in adults. The 0.92-mg once-daily dose was approved by the US Food and Drug Administration (FDA) on March 25, 2020, and is also recommended for relapsing-remitting disease, clinically isolated syndrome, and active secondary progressive disease.
In August 2020, US FDA approved Novartis Kesimpta (ofatumumab). It is the first and only self-administered, targeted B-cell therapy to treat the relapsing forms of multiple sclerosis. Kesimpta’s favorable safety and powerful efficacy profile have the potential to become the first choice of treatment for the patients with MS.
In February 2021, US FDA approved Biogen's PLEGRIDY (peginterferon beta-1a) Intramuscular (IM) Administration to treat multiple sclerosis. The new IM administration allows patients with relapsing MS, the well-characterized efficacy and safety of PLEGRIDY. PLEGRIDY has the potential for remarkably lower reactions of injection site. Due to this approval, the Biogen’s portfolio of MS treatments expanded, which also includes the subcutaneous (SC) administration of PLEGRIDY.
In August 2020, Sanofi acquired Principia Biopharma for $3.68 billion, giving the French drug manufacturer full control over the multiple sclerosis treatment the companies share. The acquisition strengthened Sanofi's core areas of allergic diseases and autoimmune, giving the company complete control over tolebrutinib (SAR442168) and additional BTK inhibitors for further development.
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Growing Prevalence of Multiple Sclerosis (MS) Driving Multiple Sclerosis Therapeutics Market
Multiple sclerosis is a chronic disease impacting the brain, spinal cord, and optic nerves. Its symptoms include weakness, anxiety, abnormality of taste, reduced sensation, and blurred vision or vision loss. Some other signs consist of constipation, muscle stiffness, depression, thinking problems, and urinary problems.
Studies suggest that there are increasing instances of multiple sclerosis worldwide. As per the National Multiple Sclerosis Society’s study, about 1 million (up to 913,925) adults were living with multiple sclerosis in the US in 2017. An estimated prevalence of the disease was 309 cases per 100,000 people in 2010, accounting for a total of 727,344 multiple sclerosis cases among adults. As per the Government of Canada (2014–2015 estimates), over 77,000 Canadians were living with multiple sclerosis of which 3/4th were women.
The Multiple Sclerosis Society stated that about 110,000 people were suffering from the condition in the UK in 2018. It also mentioned that MS is more than twice prevalent in females. From 5,000 patients in 2017 to 6,700 in 2018, it is evident that the number of new patients diagnosed every year is also increasing.
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Multiple sclerosis (MS) is an autoimmune disease affecting the central nervous system. The immune system attacks the nerves which causes communication problems between the brain and rest of the body. Immunosuppressant and immunomodulators, along with physiotherapy, are widely used to treat MS.
Impact of COVID-19 on Global Multiple Sclerosis Therapeutics Market:
COVID-19 pandemic has become the most significant challenge across the world. This challenge will be frightening especially in developing countries across the globe as it will lead to reducing imports due to disruptions in global trade. Till date no definitive treatment against COVID-19 has been established. Patients with severe health conditions, such as neurological diseases and others; are witnessing delays in such chronic disease treatment. Supply chain disruptions associated with this pandemic situation will ultimately affect the sales of products for short period. However, the supply of MS drugs has been continuous in the pandemic as pharmacies are allowed to open during the lock down. Several companies are cutting their clinical trial activities and delaying product launches in response to the COVID-19 pandemic. For instance, Bristol-Myers Squibb delayed the launch of its multiple-sclerosis drug Zeposia (ozanimod) due to the outbreak of COVID-19 pandemic.
Global Multiple Sclerosis Therapeutics Market Segmentation:
Based on drug class, the market is segmented into immunosuppressant and immunomodulators. In 2019, the immunomodulators segment accounted for larger share of the market. Growth of this segment is attributed to launch of new generic drugs and increase in adoption of immunomodulators in MS treatment. The immunosuppressant segment is likely to register higher CAGR during the forecast period.
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The World Health Organization, Food and Drug Administration, Centers for Disease Control and Prevention, European Medicines Agency, National Center for Biotechnology Information, and National Health Service are some of the major primary and secondary sources referred for preparing this report.
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