Multiple Sclerosis Drugs Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Multiple Sclerosis-a degenerative disease
Multiple Sclerosis Drugs Market: Multiple sclerosis is a demyelinating autoimmune disease affecting the spinal cord and the brain. Multiple sclerosis damages myelin sheath, material that surrounds and protects the nerve cells. The damage slows down messages between the brain and the body. Some of the adverse effects include doubled vision, psychological disturbances and lack of body movement coordination. Multiple sclerosis can occur to anyone but usually seen at the age of 20 to 50 years.
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The occurrence of disease, needs of newer and better drugs for the treatment of multiple sclerosis and extensive R & D innovation are some of the key factors involved in the market growth of the multiple sclerosis drug market. According to the Altas MS, there are more than 2.3 million people diagnosed with multiple sclerosis and there have been cases when multiple sclerosis is not diagnosed but not verified due to lack of healthcare facility and lack of awareness. With the increase in demand for better drugs and facility for multiple sclerosis patients, there is a significant increase the market too. Patent expiration of the important drugs, regulatory requirements are some of the factors leading to the downside of a steady market growth.
Multiple sclerosis (MS) drug market can be divided into drug class, mode of administration, and distribution channel.
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- Drug class (drugs used)
- Disease Modifying Drugs (DMDs)
- Steroids
- Others
- Route of administration
- Oral
- Parenteral
- End users
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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Multiple sclerosis drug market can be divided into 5 geographical regions, namely North America, Asia-Pacific, Middle East and Africa, and Europe and Latin America. Among all these regions, North America dominates the multiple sclerosis markets with $10bn in the U.S. alone and it is closely followed by Canada. Next in the line are European countries such as Spain, Italy and the UK, multiple sclerosis has an increasing rate. While Asian-Pacific developing countries such as India and China are contributing in drug making due to low-cost production and availability of talented and skilled professionals.
The key players of multiple sclerosis drug market are Novartis AG (Switzerland), Teva Pharmaceuticals (Israel), Biogen Inc.(U.S), Merck & Co. Inc. (US), Sanofi S.A.(France), Pfizer Inc. (US), Bayer AG (Germany), etc. In 2017, USFDA has approved Ocrevus from Genetech USA, Inc. to treat adult patients with relapsing form of multiple sclerosis and in 2015 Bayer healthcare Pharmaceuticals has launched betaconnect, the first auto-injector to treat multiple sclerosis.
The global market for multiple sclerosis drugs is heavily in demand due to the relapses of the disease which led to increasing number of the patients. The National MS Society and MS Association of America (MSAA) are actively spreading awareness and educating the people regarding symptoms and treatment options. Drugs such as Pleneva (BTG International Ltd.), Cladribine (Merck & Co. Inc.), etc. are observing heavy demand for these drugs. Companies are collaborating with other drug manufacturers for the development of newer and better drugs. These cumulative efforts will strengthen the multiple sclerosis markets. Also, arrivals of the easier dosage form such as oral have reduced injectable demand.
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