Multiple Sclerosis Drugs Market Value Projected to Expand by 2024
Global Multiple Sclerosis Drugs Market: Overview
The global market for multiple sclerosis drugs is heavily influenced by the significant increase in the patient pool suffering from secondary progressive and relapsing-remitting multiple sclerosis. The augmenting demand for novel potent drugs for the treatment of multiple sclerosis and the presence of a robust drug pipeline are also propelling this market substantially. Over the forthcoming years, the projected commercialization of drugs that are currently in development phase, such as Zinbryta and Ocrelizumab, is likely to reflect greatly on this market.
This research study, prepared using a number of paid and unpaid sources, offers a detailed assessment of the global market for multiple sclerosis drugs. It is a highly dependable business tool, which assists in identifying prominent trends and growth prospects of this market at both, regional as well as international level. It also presents quantitative and qualitative insights into the competitive landscape of this market by profiling the key enterprises on the basis of their market shares, latest development, business strategies, product details, revenue structure, and contact information. It further performs a SWOT analysis of each of the market players that reveals their potential growth trajectory. In the report, the worldwide market for multiple sclerosis is analyzed on the basis of the drug class, mode of administration, and geographical spread of this market for a coherent understanding.
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Global Multiple Sclerosis Drugs Market: Trends and Opportunities
Of late, the escalating prevalence of multiple sclerosis and the extensive research and development pipelines are the prime driving force behind the tremendous growth of the global market multiple sclerosis drugs. In addition to this, the increased research in the field of multiple sclerosis for the development of innovative therapies is likely to boost this market significantly in the forthcoming years.
On the other hand, patent expiry of various blockbuster drugs may create an obstruction in the growth trajectory of this market. Besides, the stringent regulatory hurdles are also projected to restrict this market from rising steadily. However, advancements in biomedical science will create a lucrative opportunity for drugmakers in the near future. The rising mergers and acquisitions between these vendors and the ongoing product launches will also influence this market greatly in the coming years.
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Immunomodulators (Avonex/Plegridy, Copaxone, Gilneya, Betaseron/Extavia, Tysabri, Rebif, Tecifidera, and Ampyra) and immunosuppressant (Ocrelizumab, Lemtrada, Aubagio, and Zinbryta) have emerged as the most preferred drug classes used for the treatment of multiple sclerosis and its associated symptoms. Researchers expect this scenario to remain so over the next few years.
Oral, injectable, and intravenous have been identified as the main modes of administration of multiple sclerosis drugs across the world. The demand for oral drugs is higher and is expected to remain so over the forthcoming years.
Global Multiple Sclerosis Drugs Market: Geographical Analysis
North America, Europe, Asia Pacific, and the Rest of the World are considered as the predominant geographical segments of the global market for multiple sclerosis drugs. Among these, North America dominates the overall market, thanks to the presence of a state-of-art medical and healthcare infrastructure. In this region, the U.S. has acquired the topmost position and is trailed by Canada.
Europe and Asia Pacific are also experiencing a robust rise in the demand for multiple sclerosis drugs. In Europe, Spain, Germany, France, Italy, and the U.K. have been leading the market for multiple sclerosis drugs. China, Japan, and India are key contributors to the market for multiple sclerosis drugs in Asia Pacific. The Asia Pacific market is likely to exhibit a higher growth rate than other regional markets over the next few years, thanks to the increasing construction manufacturing and research facilities of a number of leading manufacturers of multiple sclerosis drugs.