The global multiple sclerosis therapies market was valued at $22.99 million in 2018, and is projected to reach $28.00 million by 2026, registering a CAGR of 2.5% from 2019 to 2026. Multiple sclerosis is a chronic, inflammatory medical condition, which results in demyelination, axonal transection, and neurodegeneration of the nerve cells of the brain and spinal cord. The immune system of the body targets the neurons within the central nervous system and damages the myelin sheath. It is a potentially debilitating disease, causing disruption in communication and coordination functions of the body. The symptoms of multiple sclerosis differ widely, subject to the extent of damage and the number of neurons affected. Some of the symptoms observed are fatigue, numbness, spasticity, bladder dysfunction, cognitive changes, emotional changes, and depression. An individual suffering from severe MS experiences speech and movement problems. Multiple sclerosis can be broadly classified into four types, RRMS, SPMS, PPMS, and PRMS.

One of the major challenges in the global MS therapies market is the unknown etiology of the disease. Thus, it is difficult for medical researchers to develop drugs that target the key source of the disease. However, the introduction of disease-modifying drugs as a treatment option is a key factor that drives the growth of the global MS therapies market. In addition, the growth of the global MS therapies market is driven by shift in preference toward oral drugs. For example, drugs such as Copaxone (Glatiramer Acetate) by Teva Pharmaceuticals and Tysabri (Natalizumab) by Biogen Idec are increasingly used in the treatment of multiple sclerosis.

Moreover, increase in number of pipeline drugs is anticipated to offer remunerative opportunities for market expansion during the forecast period. Daclizumab, RG1594 (Ocrelizumab), and Lemtrada (Alemtuzumab) are the novel late stage pipeline products likely to enter the market during the forecast period. The launch of new pipeline products is expected to change the present market scenario, which is dependent on injectable formulations (such as Avonex, Betaseron/Betaferon, Rebif, Copaxone, and Tysabri). These drugs need to be injected frequently, and their dose frequency ranges from daily to weekly administration. Some of the new drugs are oral formulations (Aubagio and BG-12) while others are injectable formulations (Daclizumab, Ocrelizumab, and Alemtuzumab), and all require dosing either once a month or once every six months. Therefore, these drugs are expected to be well-tolerated and improve patient compliance. In addition, the price of these products is expected to be lower than the price of the current products. Some of these products have shown superior efficacy (BG-12 and Lamtrada) in clinical trials compared with the currently approved products (Copaxone and Rebif).

The global MS therapies market is segmented into type, route of administration, and region. On the basis of type, the market is classified into immunosuppressants and immunomodulators. Depending on route of administration, the market is divided into oral, injectable, and intravenous. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The major revenue contributor in the MS therapies market is North America, and is expected to continue this trend during the forecast period owing to rise in the U.S. FDA approvals for medications used in the treatment of MS, followed by Europe and Asia-Pacific. However, lack of medications to cure multiple sclerosis hampers the growth of the global market. This is attributed to the fact that there are no standard established treatment procedures for multiple sclerosis. Therefore, increase in R&D activities to develop medications for the treatment of multiple sclerosis is expected to drive the market growth during the forecast period.

The major companies profiled in the global MS therapies market include Abbvie Inc., Bayer AG, Biogen, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Merck KGaA, Novartis AG, Pfizer Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.

KEY BENEFITS FOR STAKEHOLDERS

? This report provides a detailed quantitative analysis of the current global multiple sclerosis therapies market trends and future estimations from 2019-2026, which assists to identify the prevailing market opportunities.
? An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
? A comprehensive analysis of the factors that drive and restrain the growth of the global multiple sclerosis therapies market is provided.
? An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.

KEY MARKET SEGMENTS
BY TYPE
- Immunosuppressants
- Immunomodulators
BY ROUTE OF ADMINISTRATION
- Oral
- Injectable
- Intravenous
BY REGION
- North America
o U.S.
o Canada
o Mexico
- Europe
o Germany
o France
o Spain
o Italy
o UK
o Rest of Europe
- Asia-Pacific
o Japan
o India
o China
o Australia
o Rest of Asia-Pacific
- LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
KEY MARKET PLAYERS
- Abbvie Inc.
- Bayer AG
- Biogen
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche Ltd.
- Merck KGaA
- Novartis AG
- Pfizer Inc.
- Sanofi
- Teva Pharmaceutical Industries Ltd.