According to the latest market report published by Credence Research, Inc. “Multiple Sclerosis Drugs Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global multiple sclerosis drugs market was valued at US$ 16.13 Bn in 2016, and is expected to reach US$ 27.38 Bn by 2025, expanding at a CAGR of 6.3% from 2017 to 2025.
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Multiple sclerosis (MS) is a chronic demyelinating inflammatory disease of the central nervous system. MS is the most common neurological disease in adult and women; it is estimated that 2.3 million people in the world are affected with multiple sclerosis. For the purpose of study, global MS drugs market is segmented on the basis of molecule type such as biologics and small molecule. It is studied that, in the base year 2016, biologics held largest market share growth mainly driven by Avonex, Betaseron, CinnoVex, Extavia, Rebif, and Tysabri. However, it is also estimated that small molecule will be fastest growing segment due to the expected launch of small molecules such as ALKS-8700, OS-440, RPC-1063, ACT-128800 and BAF312.
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MS drugs market is segmented on the basis of route of administration such as oral and parenteral route therapeutics. Currently, parenteral MS drugs held the largest market share. The growth of this segment is mainly driven by sales of Avonex, Betaseron, Copaxone, Extavia, Glatopa, Plegridy, Rebif, Zinbryta. Geographically, North America held largest MS drugs market share and it is estimated that it will also show fastest growth during forecast period. Rising incidence of MS, technological advances, and higher cost of treatment medication are prime factors that facilitating the growth of MS drugs market in North America. According to the Multiple Sclerosis Foundation, more than 400,000 people in the United States have MS, and about 200 new cases are diagnosed each week in the United States.
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Market Competition Assessment:
The global multiple sclerosis drugs market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Bayer HealthCare, Biogen, Novartis, Teva, Genzyme (Sanofi), Acorda Therapeutics, Pfizer, GlaxoSmithKline, Acorda Therapeutics, Inc., Merck Serono, Abbvie Inc. and others.
Key Market Movements:
– Factors such as rising prevalence of multiple sclerosis in some countries and higher treatment compliance are driving the growth of MS drugs market.
– Due to the high unmet needs, vendors in the market are focusing in development of ideal treatment, and promising pipeline molecule. Further increase in incidence of MS would fuel the growth of MS drugs market during forecast period.
– Unknown etiology of the disease, difficulties in disease diagnosis and adverse effect of MS medication would negatively impact the growth of MS drugs market.
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