Multiple Sclerosis Drugs Market
Multiple Sclerosis Drugs Market: Multiple Sclerosis (MS) is a demyelinating disease that affects spinal cord and brain. Multiple sclerosis damages myelin sheath, material that surrounds and protects nerve cells. This damage blocks or slows down messages between brain and body. The exact cause of the Multiple Sclerosis disease is unknown but it is an autoimmune disease. Some of the major problems include doubled vision, psychological, mental disturbances and not having coordination in body movements. Most of the people diagnosed with MS are between the age 20 to 50 years and it can occur in young children and significantly older adults.
Global Market Outline: Multiple Sclerosis Drugs Market
The unmet need of drugs for the treatment of multiple sclerosis, extensive R&D pipelines and prevalence of the disease are driving factors for the market growth of Multiple Sclerosis drug market. According to the Atlas MS, there are about 2.3 million people are with multiple sclerosis, and most of the patients are not diagnosed with multiple sclerosis and certain parts of the world due to the lacking of healthcare infrastructure and unawareness. The advancements in the biomedical science about to create a profitable opportunities for multiple sclerosis drug makers in near future. However patent expiry of the key drugs is key restraint for multiple sclerosis market, In addition strengthening of regulatory requirements and procedures also making difficulties in steady market growth.
Multiple sclerosis drug market can be segmented into mode of administration, distribution channel, and drug class
Based on route of administration, multiple sclerosis drugs market can be segmented into
Based on distribution channel, multiple sclerosis drugs market can be segmented into
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Based on drug class, multiple sclerosis drugs market can be segmented into
- Disease Modifying Drugs (DMDs)
The global multiple sclerosis drugs market is majorly influenced by increased number of patients from secondary progressive relapsing-remitting multiple sclerosis. The awareness in identifying multiple sclerosis disease conditions increased because of organizations such as National MS society and Multiple Sclerosis Association of America (MSAA) are actively involved in educating the people regarding associated symptoms and increasing the awareness. The presence of strong pipeline drugs such as pleneva (BTG international Ltd.), cladribine (Merck &Co., Inc) and their expected commercialization witness to boost the market share. Companies also actively involved in collaborating with other drug manufacturers for development of drugs such as ampryra (Acordda Therapeutics and Biogen Idec), laquinimod (Active Biotech and Teva Pharmaceuticals), and rebif (Merck Serono and Pfizer). These initiatives are enabling the manufactures to strengthen their product share in Multiple sclerosis drug market. In Multiple sclerosis drug market segments immunomodulators are predominantly used compared to other segments. On the arrival of the easier-to-use oral drugs, market share of the injectables has decreased.
Geographically multiple sclerosis drug market segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among these regions North America is more dominating in Multiple sclerosis drug market. Multiple sclerosis related healthcare estimated more than $10bn in U.S. In North America, U.S. dominates overall market and followed by Canada. In Europe countries like Italy, Spain, and the UK holds the major share due to increased prevalence rate of multiple sclerosis. In Asian pacific region developing countries like regions like India China have advantage for the drug makers over the developed markets due to low cost of production and high availability of talent pool. Because most of the multiple sclerosis drug are biomedical drugs and requires more investment and time for developing biological products.
Key market players in multiple sclerosis drug market include Novartis AG (Switzerland), Teva Pharmaceutical industries Ltd. (Israel), Biogen, Inc. (U.S.), Merck & Co., Inc. (U.S.), Sanofi S.A. (France), Acorda Therapeuitics (U.S.), Pfizer Inc. (U.S.), Bayer AG (Germany) and Medtronic plc (Questcor Pharmaceuiticals) (U.S.) to name a few.
- In March 2017, U.S. FDA approved ocrevus (Genetech USA,Inc.) to treat adult patients with relapsing form of multiple sclerosis and primary progression multiple sclerosis(PPMS).And this is first to treat this type of Multiple Sclerosis
- In 2015, Bayer Healthcare Pharmaceuticals Inc. launched betaconnect, the first electric auto injector to treat of multiple sclerosis
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