Multiple
Sclerosis Drugs Market: Introduction
In terms of revenue,
the multiple sclerosis drugs market is
projected to expand at a CAGR of ~6% during the forecast period,
due to numerous factors, about which TMR offers comprehensive insights and
forecasts in the global multiple sclerosis drugs market report.
Multiple sclerosis is a
central nervous system disorder. It is a potentially disabling disease of the
spinal cord and brain. In multiple sclerosis, the immune system attacks the
myelin (protective sheath) that shields nerve fibers, which causes
communication issues between the brain and the rest of the body. Multiple
sclerosis can cause permanent deterioration or damage to the nerves. The cause
of multiple sclerosis is still unknown. Researchers believe that genetic and
environmental factors contribute to the risk of developing multiple sclerosis.
Rise in prevalence and
incidence of multiple sclerosis, rapid increase in the geriatric population
leading a surge in cases of multiple sclerosis, and increase in awareness about
multiple sclerosis are the major factors fueling the growth of the multiple
sclerosis drugs market.
Use of Monoclonal
Antibodies for Treatment of Multiple Sclerosis
In terms of drug class,
the multiple sclerosis drugs 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 interferon beta segment accounted
for a major share of the multiple sclerosis drugs market in 2018.
Interferon beta is a cytokine in the interferon family that is 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 antibodies segment is expected to dominate the multiple
sclerosis drugs market during the forecast period. Dominance of the segment 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 disease type,
the multiple sclerosis drugs 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 large patient pool with RRMS.
About 75% to 85% of population suffering from
MS have relapsing-remitting MS (RRMS).
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Preference for
Parenteral Route of Administration for Drugs
In terms of route of
administration, the multiple sclerosis drugs market has been bifurcated into
parenteral and oral. The parenteral segment dominated the multiple sclerosis
drugs 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 drugs are in injectable form. Moreover, launch of injectable
drugs, such as Ocrevus, Cladribine, and Ofatumumab, and increase in usage of
these drugs for the treatment of multiple sclerosis are likely to drive the
segment during the forecast period.
Retail Pharmacies
& Drug Stores to be Preferred Distribution Channel
Based on distribution
channel, the multiple sclerosis drugs market has been categorized into hospital
pharmacies, retail pharmacies & drug stores, and online pharmacies. The
retail pharmacies & drug stores segment is projected to constitute
significant share of the multiple sclerosis drugs market by 2027. Large
share of the segment can be attributed to easy availability of multiple sclerosis
drugs at retail pharmacy stores and large number of retail pharmacy stores in
the U.S., Europe, and developing countries. Increase in the number of retail
pharmacy store chains in developing as well as developed countries is
anticipated fuel the growth of the segment during the forecast period.
Multiple
Sclerosis Drugs Market: Prominent Regions
North America to
Create High Incremental Opportunity
In terms of revenue,
North America is projected to dominate the multiple sclerosis drugs market
from 2019 to 2027. This can be ascribed to
higher sales of multiple sclerosis drugs in countries such as the U.S. and
Canada. Moreover, rise in prevalence of multiple sclerosis in the region and
favorable medical reimbursement policies in the U.S. and Canada drive the
market in North America. However, the multiple sclerosis drugs market in Asia
Pacific is expected to expand at a relatively high CAGR during the forecast
period. The multiple sclerosis drugs market in Asia Pacific is driven by a
large pool of patients with multiple sclerosis in China and Japan, approval and
launch of new products, and rise in investments by leading players in the
region in therapeutic drugs for multiple sclerosis disease.
New product launches in
China and Japan and rigorous marketing campaigns adopted by leading players in
order to gain competitive advantage are anticipated to augment the market in
Asia Pacific during the forecast period. However, patent expiry of top branded
drugs in Japan is expected to hamper the growth of the market in the country
from 2018 to 2020.
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Strategic Collaborations,
Investments, and Launch of New Products to Drive Market
The report provides
profiles of leading players operating in the multiple sclerosis drugs market. Bayer
AG, Teva Pharmaceutical Industries Ltd., Novartis AG, Sanofi, F. Hoffmann-La
Roche Ltd., Celgene Corporation, Acorda Therapeutics, Inc., Biogen, Inc.,
Actelion Pharmaceuticals (Johnson & Johnson), EMD Serono (Merck KGaA), and
AbbVie, Inc. are the major players operating in the global multiple
sclerosis drugs market. These players have adopted strategies such as strategic
collaborations, launch of new products, and investments to increase share and
presence in the multiple sclerosis drugs market.
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