The Multiple Sclerosis Drugs Market is expected to witness an escalation going forward. With health apps, biosensors, AI, VR, telehealth, robots, cloud computing, predictive analysis, and EHRs being rampantly used, there is nothing to hold the healthcare vertical from soaring high. The healthcare vertical, would, see its cash registers ringing on the count of digital IoT creeping in at a rapid pace.
Multiple sclerosis (MS) is a nervous system disease which affects spinal cord and the brain. MS damages the myelin sheath. Myelin sheath is a term which exemplifies that material which surrounds and protects human nerve cells. This damage blocks messages between brain and the body and leads to the symptoms of MS. Some of the major symptoms of MS include thinking and memory problems, visual disturbances, problem in coordination and balancing of the body and muscle weakness.
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MS affects women more than men. The disease often occurs between age group of 20-40. MS is mainly divided into four types. They are relapsing-remitting MS, progressive-relapsing MS, secondary-progressive MS and primary-progressive MS. Relapsing-remitting MS is the most common form of the disease. It accounts about 85% of the total MS cases.
Secondary-progressive is associated with the initial period of relapsing-remitting disease. Approximately, 50% of people suffering with relapsing remitting MS would develop this form of the disease. Progressive-relapsing MS is rare and about 5% of the total MS cases. Primary-progressive MS accounts 10% of the total MS cases.
Based on the route of drug administration, the global MS drugs market is categorized into parenteral drugs and oral drugs.
The global MS drugs market is segmented into small molecule MS drugs and biologics MS drugs. Major brands of small molecule MS drugs include Copaxone, Trimesta, Novantrone, Masitinib, Gilenya, Siponimod, Firategrast, Tecfidera and Aubagio. Some of the major biologics involved in the treatment of MS are Tysabri, Ocrelizumab, Zenapax, Arzerra, Avonex, Extavia, Rebif, Betaseron and Cinnovex. These small molecule and biologics MS drugs are mainly focused on the faster recovery from attacks and reduce progression of the disease.
In terms of geographic, North America dominates the global MS drugs market. The U.S. represents the largest market for MS drugs followed by Canada in North America. In Europe, France, Germany, Italy, Spain and the U.K. holds major share of MS drugs market. However, Asia is expected to show high growth rates in the next five years in global MS drugs market. This is due to many companies constructing their manufacturing and research facilities in the region. Developing regions have advantage over the developed regions due to low wages, availability of a large talent pool, less stringent environment and health and safety regulations. Japan, China and India are expected to be the fastest growing MS drugs markets in Asia.
In recent time, high unmet need of drugs for treatment of the disease and extensive R&D pipelines are some of the major drivers of the global MS drugs market. In addition, increased research in the field of MS to develop innovative therapies has also fueled the growth of global MS drugs market.
However, patent expiry of major drugs is key restraint of global MS drugs market. In addition, stringent regulatory hurdles also obstruct the growth of global MS drugs market. Advancement in biomedical science would develop opportunity for the global MS drugs market. Increasing mergers and acquisitions between manufacturing companies and rapid product launches are some of the major trends for global MS drugs market.
Some of the major companies operating in the global MS drugs market are Bayer, GlaxoSmithKline, Teva Pharmaceutical, Novartis, Merck Serono, Sanofi, Pfizer, Abbvie, Biogen Idec, AB Science and Opexa.
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Key geographies evaluated in this report are:
- North America
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- Latin America
Key features of this report
- Drivers, restraints, and challenges shaping the Multiple Sclerosis Drugs market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Multiple Sclerosis Drugs market estimates and forecasts(2015 -2021)
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