The market studied is expected to witness a rapid growth rate in the future, owing to factors, such as the rising prevalence of multiple sclerosis (MS) and the growing focus of companies on pipeline products for MS.
- Big pharmaceutical companies have been investing heavily in the drug development process and are planning to target as many indications as possible, in order to cater to a large number of customers. Owing to this, the MS market has also been benefiting. For instance, the drugs being developed for multiple sclerosis include the drugs for Relapsing-remitting MS, Secondary progressive MS, Primary progressive MS, and Myelin repair or neuroprotection. - Biogen, a leading player in the market studied has been developing Diroximel fumarate, which is currently in phase III of development; similarly, Novartis has been developing Ofatumumab, which is also in Phase III. - Similar to the above-mentioned companies, there have been other pharmaceutical players, such as Pfizer Inc., which have been developing drugs for MS. This indicates that pipeline drugs for MS may boost the studied market’s growth in the forecast period.
Key Market Trends The Oral Route of Administration is Expected to Witness Rapid Growth in Future
Classical multiple sclerosis (MS) treatments using first-line injectable drugs, even though they have been widely applied, remain to be a foremost concern in terms of therapeutic adherence and efficacy. Novel oral drugs, recently approved for the treatment of MS, represent significant advances in the therapy. The oral route of administration evidently supports patient satisfaction and increases therapeutic compliance.
If someone is not comfortable with needles, there are oral options for treating MS. Taken daily or twice daily, oral medications require one to maintain a regular dosing schedule. These are the easiest to be self-administered.
The currently available oral multiple sclerosis drugs include Aubagio (teriflunomide), Gilenya (fingolimod), and Tecfidera (dimethyl fumarate).
In March 2019, the US Food and Drug Administration approved Mayzent (siponimod) tablets to treat adults with relapsing forms of multiple sclerosis (MS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.
North America to Dominate the Market
The market for multiple sclerosis therapeutics is expected to show high growth in the North America region, which is majorly attributed to the presence of key players and the rising prevalence of the disease in this region. The United States is the major market for companies, such as Biogen, Novartis AG, and Sanofi SA, among others. Therefore, these companies have been focusing more on establishing their new drugs in this market studied, which ultimately has been contributing to the growth of this region.
Furthermore, as per the National Multiple Sclerosis Society, Canada is a country with the highest prevalence of MS in the world (291 per 100,000). In the case of the United States, the National MS Society estimated that there are around 1 million people in the country living with MS.
Hence, due to the high prevalence and presence of the key players, North America is expected to dominate the market studied.
Competitive Landscape The market for MS therapeutics is consolidated, as there are few players in this market. These companies are the big pharmaceutical companies that have been focusing on pipeline drugs for multiple sclerosis. With the rising R&D investment in the pharmaceutical industry, it is believed that more companies may enter the market studied in the future, and the competition may increase.
Reasons to Purchase this report: - The market estimate (ME) sheet in Excel format - 3 months of analyst support
Our reports have been used by over 10K customers, including:
Giving support: Funding increases should help the industry recover from current-year disruption Abstract Learning Disability, Mental Health & Substance Abuse Facilities in the UK Operators in this industry provide residential care for people with learning disabilities, mental illness or substance abuse...
The global narcolepsy market is expected to reach US$ 4,537.9 Mn in 2027 from US$ 2,026.8 Mn in 2018. The market is estimated to grow with a CAGR of 9.5% from 2019-2027. The growth of the narcolepsy market is primarily attributed to the rising prevalence of sleep related neurological disorders, emerging local pharmaceutical and biopharmaceutical...
Summary Population Diagnostics Inc (Population Diagnostics) is a biotechnology company that carries out the research, development and discovery of platform technology for validation of causative genetic biomarkers. The company develops various therapeutic areas such as novel targeted drugs, drug rescue of Phase II & III failures,...
Summary BioCrea GmbH (BioCrea) is a healthcare company that offers drug discovery services. The company discovers and develops drugs to treat debilitating central nervous system diseases. It provides pipeline product PDE10, an inhibitor to treat Schizophrenia and Huntington’s disease. BioCrea offers discovery platforms such as...
Summary Advanced Technology Ventures (ATV) is a financial service provider that provides early stage investments in emerging growth companies and business development. The company operates on three core technology markets that include IT, healthcare and clean technology. Its healthcare services include next-generation biologics,...
Zogenix Inc (Zogenix) is a pharmaceutical company that develops and commercializes injectable therapies and delivery systems for treating central nervous system disorders and pain. The company’s product portfolio includes Zohydro ER, Sumavel DosePro and undisclosed dosepro CNS product candidate. Its pipeline products include...
Summary LineaGen Inc (LineaGen), formerly GenData Research Corporation is a healthcare services provider that includes diagnostic service. The company provides diagnostic evaluation services for complex diseases. Its offers testing services such as FirstStepDx PLUS chromosomal micro array which detect deletions and duplication...
Summary Res-Care Inc (ResCare) is one of the largest home care companies and providers of services to people with disabilities. Its major services include daily personal care assistance; closed-door pharmacy related services; homemaking services; care management; skilled nursing / therapy; neuro therapy; live-in care and overnight...
Education And Training
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.