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2020

Multiple Sclerosis Therapies Market

Multiple Sclerosis Therapies Market Size, Share, Competitive Landscape and Trend Analysis Report by Type and Route of Administration : Global Opportunity Analysis and Industry Forecast, 2019-2026

LS : Pharmaceuticals

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Author's: Snehal Manjrekar| and Onkar Sumant | Roshan Deshmukh
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The global multiple sclerosis (MS) therapies market was valued at $22.99 billion in 2018, and is projected to reach $28.00 billion by 2026, registering a CAGR of 2.5% from 2019 to 2026. Multiple sclerosis is a chronic, inflammatory medical condition, which results in demyelination, axonal transection, and neurodegeneration of the nerve cells of the brain and spinal cord. The immune system of the body targets the neurons within the central nervous system and damages the myelin sheath. It is a potentially debilitating disease, causing disruption in communication and coordination functions of the body. The symptoms of multiple sclerosis differ widely, subject to the extent of damage and the number of neurons affected. Some of the symptoms observed are fatigue, numbness, spasticity, bladder dysfunction, cognitive changes, emotional changes, and depression. An individual suffering from severe MS experiences speech and movement problems. Multiple sclerosis can be broadly classified into four types, RRMS, SPMS, PPMS, and PRMS. 

Updated_MS-Therapies-Market,-2019-2026

One of the major challenges in the global MS therapies market is the unknown etiology of the disease. Thus, it is difficult for medical researchers to develop drugs that target the key source of the disease. However, the introduction of disease-modifying drugs as a treatment option is a key factor that drives the growth of the global MS therapies market. In addition, the growth of the global MS therapies market is driven by shift in preference toward oral drugs. For example, drugs such as Copaxone (Glatiramer Acetate) by Teva Pharmaceuticals and Tysabri (Natalizumab) by Biogen Idec are increasingly used in the treatment of multiple sclerosis. Moreover, increase in number of pipeline drugs is anticipated to offer remunerative opportunities for market expansion during the forecast period. Daclizumab, RG1594 (Ocrelizumab), and Lemtrada (Alemtuzumab) are the novel late stage pipeline products likely to enter the market during the forecast period. The launch of new pipeline products is expected to change the present market scenario, which is dependent on injectable formulations (such as Avonex, Betaseron/Betaferon, Rebif, Copaxone, and Tysabri). These drugs need to be injected frequently, and their dose frequency ranges from daily to weekly administration. Some of the new drugs are oral formulations (Aubagio and BG-12) while others are injectable formulations (Daclizumab, Ocrelizumab, and Alemtuzumab), and all require dosing either once a month or once every six months. Therefore, these drugs are expected to be well-tolerated and improve patient compliance. In addition, the price of these products is expected to be lower than the price of the current products. Some of these products have shown superior efficacy (BG-12 and Lamtrada) in clinical trials compared with the currently approved products (Copaxone and Rebif).

Type Segment Review

On the basis of type, the market is classified into immunosuppressants and immunomodulators. The immunosuppressants segment was the highest contributor to the market, owing to their beneficial effects for patients suffering from relapsing-remitting multiple sclerosis (RRMS) by weakening the immune system, thereby suppressing the autoimmune attack in the patient’s body and preventing relapses. In addition, the increase in product approvals for the treatment of MS therapies is anticipated to propel the market growth globally. Currently, the immunosuppressants that have been approved for use only in relapsing forms of MS, include alemtuzumab, dimethyl fumarate, fingolimod, glatiramer acetate, interferon beta preparations, natalizumab, ocrelizumab, and teriflunomide.

Multiple Sclerosis Therapies Market
By Type
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Immunosuppressants segment is projected as one of the most lucrative segment.

Route of Administration Segment Review

Depending on route of administration, the market is divided into oral, injectable, and intravenous. The oral route of administration promotes patient satisfaction and increases therapeutic compliance. Significant therapeutic advances in the new orally administered drugs approved for the MS treatment represent boost the growth of the market. Three oral drugs have been approved by regulatory agencies for the treatment of MS, which include fingolimod, teriflunomide, and dimethyl fumarate. The mechanisms of action, efficacy, and safety of these drugs that have yielded positive results in phase III trials, which is a key factor that contributes toward the growth of the global market.

Multiple Sclerosis Therapies Market
By Route Of Administration
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The Oral route of administration segment holds a dominant position in 2018 and would continue to maintain the lead over the forecast period.

Region segment review

North America accounted for the largest share in the global MS therapies market in 2018, owing to increase in demand for MS therapeutic products. In addition, the factors that boost the growth of the MS therapies market in North America include easy availability of MS therapies and increase favorable reimbursement policies by government for MS treatment. Moreover, the presence of key players such as Pfizer, Novartis, and Bayer in the region contributes to the growth of market. Furthermore, it has been observed that rates of MS are higher in regions further from equator; thus, the prevalence of MS is alarmingly high in North America. For instance, according to the Government of Canada, in 2014-15, approximately 77,000 people were suffering from MS. In addition, according to the Global Burden of Disease Study, 2016, North America accounted for highest age-standardized MS prevalence at 164.6 per 100,000 population. Therefore, rise in prevalence has led to surge in demand for MS therapies in the region, thereby fueling the growth of the market. 

Multiple Sclerosis Therapies Market
By Region
2026
North America 
Europe
Asia-Pacific
LAMEA

North America accounted for the largest share in the MS therapies market in 2018, and is anticipated to remain dominant throughout the forecast period.

Key Benefits For Stakeholders

  • This report provides a detailed quantitative analysis of the current MS therapies market trends and forecast estimations from 2019 to 2027, which assists to identify the prevailing market opportunities. 

  • An in-depth market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.

  • A comprehensive analysis of factors that drive and restrain the growth of the global is provided.

  • Region-wise and country-wise market conditions are comprehensively analyzed in this report.

  • The projections in this report are made by analyzing the current trends and future market potential from 2019 to 2026, in terms of value.

  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.

  • Key market players within the MS therapies market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of global MS therapies market.

Key Market Segments

By Type 

  • Immunosuppressants
  • Immunomodulators

By Route Of Administration

  • Oral
  • Injectable
  • Intravenous  

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Spain
    • Italy
    • UK
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • India
    • China
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA

Multiple Sclerosis Therapies Market Report Highlights

Aspects Details
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By TYPE
  • Immunosuppressants
  • Immunomodulators
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By ROUTE OF ADMINISTRATION
  • Oral
  • Injectable
  • Intravenous
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

BRISTOL-MYERS SQUIBB COMPANY, SANOFI, MERCK KGAA, TEVA PHARMACEUTICAL INDUSTRIES LTD., NOVARTIS AG., PFIZER INC., BIOGEN, BAYER AG., F. HOFFMANN-LA ROCHE LTD., ABBVIE INC.

Analyst Review

The MS therapies market is expected to witness significant growth, owing to increase in incidence of multiple sclerosis (MS) worldwide. MS is a condition caused due to myelin damage that disrupts the impulse communication between the brain and rest of the body. MS is highly prevalent among women between the ages of 20 and 50 years.

According to the CXOs, increase in initiatives from the government to offer favorable reimbursements, rise in the number of R&D activities to develop novel medications for MS, and increase in incidence of MS are major factors responsible for the growth of the market. Moreover, pharmaceutical companies are targeting the Asia-Pacific region to commercialize drugs at affordable pricing. This is expected to provide a competitive advantage for the Asia-Pacific MS drugs market. However, the side effects associated with therapeutics and high cost of drugs are expected limit the market growth.

On the contrary, pharmaceutical companies in developed regions are focusing on the commercialization of novel therapeutics having minimal side effects and economic pricing. Such product launch strategy is expected to offer lucrative opportunity for market expansion during the forecast period. Furthermore, the market growth is majorly supplemented by increase in funding from government authorities for R&D activities.

Author Name(s) : Snehal Manjrekar| and Onkar Sumant | Roshan Deshmukh
Frequently Asked Questions?

The total market value of MS Therapies market is $28 billion

The forecast period in the report is from 2019 to 2026

The market value of MS Therapies market in 2019 was $23.57 billion

The base year for the report is 2018

Yes, MS Therapies companies are profiled in the report

The top companies that hold the market share in MS Therapies market are Abbvie Inc., Bayer AG, Biogen, BristolMyers Squibb Company, F. Hoffmann-La Roche Ltd., Merck KGaA.

The top 5 emerging investments markets in the MS Therapies market are Canada, UK, Australia, Germany and France.

The key trends in the MS Therapies market are introduction of novel drugs to treat multiple sclerosis and alarming increase in patient base suffering from MS.

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Multiple Sclerosis Therapies Market

Global Opportunity Analysis and Industry Forecast, 2019-2026