Multiple Sclerosis Treatment Market Growth, Sales Revenue, Competitive Landscape and Market Expansion Strategies 2030 | COVID-19 Effects

Market overview:

The multiple sclerosis treatment market is expected to grow USD 28.09 billion at a compound annual growth rate of 2.80%. During the forecast period 2022-2030

Multiple sclerosis symptoms include neuropathy or weakness of the limbs, electric shocks with neck movements, double vision, tremors, bowel and bladder problems, and unsteady gait. Clinical research and R&D investments are generating much interest in the market for multiple sclerosis treatments. Many pharmaceutical companies are attempting to treat Multiple Sclerosis. In addition to increased research activities, many research collaborations have formed between pharmaceutical companies and research institutes, favouring the multiple sclerosis treatment markets even more. Pharmaceutical firms of all sizes have been expanding their pipeline portfolios by conducting more research on novel candidates. Introducing these pipeline candidates is expected to fuel growth in the multiple sclerosis treatment market.

The multiple sclerosis treatment market is expected to grow due to an increasing patient population, better treatment options and increased screening. Older adults are more likely to be affected by multiple sclerosis. Innovative work procedures can result in the main competitor's most significant gain and advantages.

Healthcare systems worldwide have been severely disrupted in the aftermath of the coronavirus pandemic due to the financial crisis and the delay in speciality healthcare delivery while prioritising COVID-19-related treatments. Patients could not see their controls for various reasons, including difficulty obtaining a doctor, fear of infection transmission, and the inability to continue therapies and necessary procedures due to pandemic restrictions. Such considerations may have had a negative impact on the multiple sclerosis market in recent months.

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Market Segmentation:

Multiple sclerosis treatment markets are divided into immunomodulators, immunosuppressants, and others based on drug type.

Multiple sclerosis treatment markets are segmented by route of administration, such as injectables, oral, and others.

MRI scans, simple electrical stimulation tests, lumbar punctures, and other treatment options are classified by diagnosis in the multiple sclerosis market.

In the multiple sclerosis treatment markets, end-users include hospitals, clinics, and others.

Regional analysis:
The multiple sclerosis treatment markets is divided into four regions: North America, Europe, Asia Pacific, the Middle East, and Africa. The United States dominates the market due to the rapid development of the medical sector in the United States and the increase in the number of research institutions for better disease treatment. The number of treatments for multiple sclerosis is increasing. Consolidation of large healthcare players in the United States also contributes to market growth because healthcare players have increasing purchasing power. This results in economies of scale.

Multiple sclerosis treatment is the world's second-largest market, owing to the growing healthcare industry and healthcare penetration in Europe. Germany and France are driving Europe's multiple sclerosis treatment market growth. Germany is expected to have the fastest growth during the assessment period due to its large pharmaceutical industry. Multiple sclerosis is dominated by several markets, with Europe coming in second after the Asia Pacific. This is due to its investment in cutting-edge technology. Because both populations have a high number of people suffering from the disease, China and India are likely to dominate the multiple sclerosis treatment market. During the forecasted period, Asia-Pacific is expected to grow the fastest.

Competitive Analysis:
Teva Pharmaceuticals (Isreal), Bayer Healthcare (Germany), Biogen Idec (US), Pfizer Inc. (US), Sanofi Aventis (France), Merck (US), Novartis (Switzerland), AbbVie (US)

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Recent developments:
• Novartis announced the launch of Kesimpta (ofatumumab) in August 2020, subject to U.S. Food and Drug Administration (FDA) approval. It is the first and only self-administered, targeted B-cell therapy for relapsing multiple sclerosis patients. Kesimpta combines potent efficacy with a tolerable safety profile and is self-administered at home, filling a critical gap in treating relapsing forms of multiple sclerosis (RMS).

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