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Multiple Sclerosis Therapeutics Market: Comprehensive Study Explores Huge Growth In Future | Leading Key Players - Novartis AG, Pfizer Inc., Bayer AG, Biogen Idec Till 2025

01-22-2019 02:53 PM CET | Health & Medicine

Press release from: Coherent Market Insights - Pharmaceutical Industry

Multiple Sclerosis Therapeutics Market

Multiple Sclerosis Therapeutics Market

Multiple sclerosis (MS) is a demyelinating disease in which the insulating covers of nerve cells in the brain and spinal cord are damaged. The disease leads in malfunction of the nervous system to communicate, which in turn causes several signs and symptoms, including physical, mental, and psychiatric problems. Double vision, blindness in one eye, muscle weakness, trouble with sensation, or trouble with coordination are some of the other symptoms. The types of MS include relapsing-remitting MS (RRMS), primary progressive MS (PPMS), and secondary progressive MS (SPMS). RPMS is the most common type characterized by defined attacks with increasing neurological symptoms, PPMS is the rare form characterized by gradual progression of disease, whereas SPMS is commonly identified in people living with relapsed-remitting MS. The most common symptoms of the disease include partial or complete vision loss, prolonged vision loss, lack of coordination, and slurred speech.

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Market Dynamics:

The major factors driving growth of the multiple sclerosis therapeutics market include rise in research and development ultimately leading to the launch of novel drug candidates and the rising prevalence of the condition in children. For instance, in 2014, Plegridy (peginterferon beta-1a) manufactured by Biogen, a disease modifying therapy was approved for the long-term treatment of relapsing forms of multiple sclerosis. According to Multiple Sclerosis Society, approximately five to ten per cent of people with MS experienced their first symptoms before the age of 16. However, the inability of drugs to prevent disease progression and disability, side effects of the approved drugs such as increased risk of infections, flu-like symptoms and progressive multifocal leukoencephalopathy (PML), a viral disease of the brain are the factors hindering market growth.

Increasing prevalence of multiple sclerosis to augment market growth:

Multiple sclerosis is a widespread disabling neurological condition, mostly diagnosed in people in the age group 20–50 years. According to the Multiple Sclerosis Foundation, 2017, this autoimmune condition affects 2.5 million people with the global incidence of around 7 cases per 100,000 people per year. The study also states that prevalence rates varies between ethnic and geographical latitudes, ranging from 50 to 120 people per 100,000 population. North America dominates the multiple sclerosis therapeutics market owing to the high prevalence of the condition and the rising economic burden of the disease leading to the adoption of novel therapeutics. According to the Multiple Sclerosis Foundation, 2015, an estimated 400,000 people live with the disease in U.S., and about 200 new cases are diagnosed every week. According to a survey by Healthline Media, 2015, multiple sclerosis ranks second after congestive heart failure with direct and indirect health care costs ranging from US$ 8,528 to US$ 54,244 per patient per year. Higher therapy cost is restraining the growth of the multiple sclerosis therapeutics market.

Global Key Players:
The major players operating in the global multiple sclerosis therapeutics market include
• Novartis AG,
• Teva Pharmaceutical Industries Ltd.,
• Sanofi S.A.,
• Bayer AG,
• Pfizer, Inc.,
• Biogen Idec,
• Merck & Co., Inc.,
• AbbVie, Inc.

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Detailed Segmentation:

• Global Multiple Sclerosis Therapeutics Market, By Drug Class:
◦ Beta Interferon
◦ Corticosteroids
◦ Monoclonal Antibodies
◦ Antineoplastic Agents
◦ Others

• Global Multiple Sclerosis Therapeutics Market, By Route of Administration:
◦ Oral
◦ Injection

• Global Multiple Sclerosis Therapeutics Market, By Distribution Channel:
◦ Hospital Pharmacies
◦ Retail Pharmacies
◦ E-Commerce

• Global Multiple Sclerosis Therapeutics Market, By Geography:
◦ North America
◦ Latin America
◦ Europe
◦ Asia Pacific
◦ Middle East
◦ Africa

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

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