Multiple Sclerosis Therapies Market 2023

PORTLAND, OREGON, UNITED STATES, May 19, 2023 /EINPresswire.com/ -- According to the report, the global multiple sclerosis therapies industry garnered $22.99 million in 2018, and is estimated to reach $28.00 million by 2026, registering a CAGR of 2.5% from 2019 to 2026. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Growing Market Size: The MS therapies market has been expanding significantly in recent years. Factors such as increasing prevalence of multiple sclerosis, advancements in treatment options, and rising awareness about the disease have contributed to market growth.

Disease-Modifying Therapies (DMTs): DMTs are the primary treatment approach for MS. These therapies aim to modify the course of the disease, reduce relapse rates, and manage symptoms. The market for DMTs is witnessing robust growth, driven by the development of newer and more effective drugs.

Introduction of Novel Therapies: Over the past few years, several novel therapies have been introduced in the market. These include oral therapies, monoclonal antibodies, and other innovative treatment options. These advancements have expanded the choices available to patients and healthcare providers, leading to increased market competition.

Shift towards Personalized Medicine: There is a growing emphasis on personalized medicine in the MS therapies market. With advancements in genetic testing and biomarker identification, treatment approaches are becoming more tailored to individual patients. This trend is expected to continue, enabling better outcomes and improved patient satisfaction.

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Market Drivers:

Increasing Prevalence of Multiple Sclerosis: The rising prevalence of multiple sclerosis worldwide is a major driver for the market. MS is a chronic autoimmune disease that affects the central nervous system, and its incidence is increasing globally. The growing patient population necessitates the development and availability of effective therapies.

Advancements in Treatment Options: Significant advancements in MS treatment options have occurred in recent years. Disease-modifying therapies (DMTs) have evolved, offering improved efficacy and safety profiles. Newer oral therapies and monoclonal antibodies have emerged, providing patients with more choices for managing their condition.

Rising Awareness and Early Diagnosis: Increased awareness about multiple sclerosis and its symptoms has led to earlier diagnosis. Early detection allows for prompt initiation of therapy, resulting in better disease management and improved patient outcomes. The emphasis on early intervention has driven the demand for MS therapies.

Market Segmentation:

Product Type: MS therapies can be categorized into different product types based on their mode of administration and mechanism of action. The main categories include:

a. Injectable Therapies: This category includes subcutaneous or intramuscular injections of various disease-modifying therapies (DMTs) such as interferons, glatiramer acetate, and others.

b. Oral Therapies: These are medications taken orally, providing convenience to patients. Examples include fingolimod, dimethyl fumarate, and teriflunomide.

c. Monoclonal Antibodies: These are biologic drugs administered via infusion or injection. Examples include natalizumab, ocrelizumab, and alemtuzumab.

Disease Progression: Another way to segment the market is based on the stage or progression of multiple sclerosis. This includes:

a. Relapsing-Remitting Multiple Sclerosis (RRMS): Therapies specifically designed for patients with RRMS, characterized by periods of relapses followed by remission.

b. Secondary Progressive Multiple Sclerosis (SPMS): Therapies targeting patients who transition from RRMS to SPMS, characterized by a gradual worsening of symptoms.

c. Primary Progressive Multiple Sclerosis (PPMS): Therapies developed for patients with PPMS, where symptoms progressively worsen from the onset without distinct relapses.

Geography: The MS therapies market can also be segmented based on geographic regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Each region may have specific market dynamics, regulatory frameworks, and treatment practices.

Distribution Channel: This segmentation considers how MS therapies are distributed and accessed by patients. It includes segments such as hospital pharmacies, retail pharmacies, online pharmacies, and specialty clinics.

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Regional Growth Dynamics:

North America, accounted for the highest share based on revenue, holding for nearly two-fifths of the total share of the global multiple sclerosis therapies market in 2018, owing to rise in U.S. FDA approvals for medications used in the treatment of MS and improved healthcare system in this region. However, LAMEA is estimated to portray the fastest CAGR of 3.1% from 2019 to 2026, owing to the high prevalence of MS in the Middle East countries.

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Leading market players-

Bayer AG
Biogen
Bristol-Myers Squibb Company
ABBVIE INC.
F. Hoffmann-La Roche Ltd.
Merck KGaA
Novartis AG
Pfizer Inc.
SANOFI
Teva Pharmaceutical Industries Ltd.

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