Pune, India, April 29, 2021 (GLOBE NEWSWIRE) -- The global multiple sclerosis drugs market size is projected to reach USD 40.66 billion by 2027, exhibiting a CAGR of 7.1% during the forecast period. High prevalence of multiple sclerosis (MS) worldwide will be the primary factor driving the growth of this market, states 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”.
MS is a widespread degenerative neurological condition among young adults around the world. According to the Multiple Sclerosis Trust, approximately 2.5 million people worldwide are suffering from MS, with a higher number of women getting affected with the condition than men. In the UK, Public Health England, the UK government’s health agency, found that between 2018 and 2020, the number of MS patients rose to 131,720. In the US, on the other hand, data from the National Multiple Sclerosis Society revealed that nearly 1 million people in the US are living with MS. Increasing incidence of this condition, therefore, is expected to surge the MS drugs market growth.
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The global economy has plunged into turmoil because of the COVID-19 pandemic outbreak. Some industries remain largely unaffected by the outbreak, some are thriving, and some are in serious trouble. The healthcare industry is experiencing mixed impact of this pandemic. Navigating through these challenging times is a mammoth task and to aid you in your journey, Fortune Business Insights™ aims at equipping your business with the most comprehensive market intelligence, collated and analyzed by our expert and experienced research team.
Industry Developments:
- May 2020: Bristol Myers Squibb announced that its Zeposia drug, an oral medication for treating relapsing multiple sclerosis in adult patients received approval from the European Commission (EC). The marketing authorization from the EC will enable the company to broaden its presence in Europe.
- March 2019: The US FDA gave its nod to Mayzent (siponimod), developed by Novartis to treat adults with relapsing forms of MS. The treatment will be able to treat relapsing remitting multiple sclerosis (RRMS) and secondary progressive multiple sclerosis (SPMS) with active disease.
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Availability of Monoclonal Antibodies for MS Treatment to Favor Market Growth
Monoclonal antibodies, as the name suggests, are clones of a specific antibody, which are developed as multiple sclerosis drug treatments. Their most notable feature is that they can tailor the immune system response to MS by binding to specific, targeted proteins on the body’s normal cells. Thus, these antibody treatments can be designed to deliver a highly specific effect in a patient. More importantly, there is growing availability of monoclonal antibodies, with some treatments being more widely used than others.
For instance, Roche’s Ocrevus antibody, which binds to and destroys B-cells, has been extensively adopted as an MS treatment since it received FDA approval in 2017. Similarly, Sanofi’s Lemtrada, which binds to proteins on white blood cells, has been available in the market since 2014, when it secured clearance from the FDA. Rising popularity of monoclonal antibodies is, therefore, proving critical in fueling the multiple sclerosis drugs market growth.
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Healthy Awareness about MS to Feed Market Growth in North America
North America boasted a market size of USD 14.74 billion in 2019 on account of widespread awareness about MS and its treatments. In the US, government bodies such as the Multiple Sclerosis Association of America conducts educational drives during the month of March, which is recognized as the Multiple Sclerosis Awareness Month in the country.
Europe is expected to hold a prominent position in the multiple sclerosis drugs market share during the forecast period owing to supportive health reimbursement policies. In Asia Pacific, the market is anticipated to perform remarkably well as pharmaceutical companies are aggressively expanding their distribution networks across the region.
List of Key Players Covered in the Multiple Sclerosis Drugs Market Report:
- Bristol-Myers Squibb Company (New York, U.S.)
- Sanofi (Paris, France)
- Novartis AG (Basel, Switzerland)
- 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.)
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Multiple Sclerosis - For Key Countreis, 2018
- Regulatory Scenario - For Key Countries
- Patent Snapshot
- New Drug Class Launch
- Pipeline Analysis
- Key Industry Developments - Mergers, Acquisitions and Partnerships
- Global Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Injection
- Intramuscular
- Subcutaneous
- Intravenous
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Stores
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2015-2026
TOC Continued…..!!!!
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