Multiple Sclerosis Drugs and Treatment Market to Grow At A CAGR Of 6% On Account Of Growing Awareness for the Disorder By 2027 | Leading Players Bayer AG (BAYN), Novartis AG (NOVN), Biogen (BIIB), Genzyme Corporation
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Multiple sclerosis is an autoimmune disease that affects the central nervous system (CNS) of the body that mainly consists of the brain and spinal cord. It is a chronic health disorder that leads to the damage of nerves, thereby disrupting the communication between the brain and other parts of the body. The market for multiple sclerosis drugs and treatment is anticipated to grow at a significant CAGR of about 6% during the forecast period, i.e., 2019-2027. The market is segmented by drug, by route of administration, by distribution channel and by region. On the basis of drug, the market is further segmented into interferons, immunomodulators and immunosuppressants, out of which, the segment for immunomodulatory drugs is estimated to hold a significantly large share in the market during the forecast period. This can be attributed to the development of new methods of treatment for multiple sclerosis that are immunomodulatory in nature.
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The market in North America region is anticipated to witness largest share in the market on account of presence of highly advanced medical facilities along with large number of research institutions in the region. Additionally, the high prevalence of multiple sclerosis is another factor contributing towards the market growth. Further, the market in Europe is estimated to hold the second highest share as a result of growing demand for effective therapeutic drugs for the treatment of multiple sclerosis.
Rising Prevalence of Multiple Sclerosis to Boost the Market Growth
As per a journal published by the Lancet Neurology, there were 2,221,188 cases of multiple sclerosis prevalent around the world in 2016. The age-standardized prevalence of this disorder was higher than 120 cases per 100,000 people in North America. On the other hand, it was moderate in some European countries with 60 to 120 cases per 100,000 population and lowest in North Africa, Middle East and Latin America with less than 60 cases per 100,000 people in every region. The increasing prevalence of multiple sclerosis raises the demand for improved treatment methods for the disorder. This is estimated to become a factor responsible for the market growth. On the other hand, the strict government policies regarding the approval of drugs is anticipated to hinder the market growth.
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This report also provides the existing competitive scenario of some of the key players of the global multiple sclerosis drugs and treatment market which includes company profiling of Bayer AG (BAYN), Novartis AG (NOVN), Biogen (BIIB), Genzyme Corporation, F. Hoffmann-La Roche, Teva Pharmaceutical Industries Ltd., Pfizer Inc. (PFE), Merck KGaA (MRK), AbbVie Inc. and Opexa Therapeutics, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global multiple sclerosis drugs and treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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