Multiple Sclerosis Treatment Market Research Report, By Drug Type (Immunomodulators, Immunosuppressant), By Route of Administration (Injectable, Oral and Other), By Diagnosis (Magnetic Resonance Imaging (MRI) Scans, Simple Electrical Stimulation Tests, Lumbar Puncture), By End Users (Hospitals, Clinics, and others) – Forecast till 2023
Global Multiple Sclerosis Treatment Market will grow at a CAGR of 3.5 % during the forecast period (2017 – 2023). However, the lack of a true cure for multiple sclerosis is a major restraint for the global multiple sclerosis treatment market. Currently, multiple sclerosis is treated by treatments that allow patients to manage the disease and possibly slow down its progression. However, the absence of drug formulations to treat the disease in its entirety is a key restraint on the global multiple sclerosis treatment market.
However, players in the market have the chance to turn this restraint into a driver, as even the development of partial cures is likely to be welcomed in the market. As a result, drug development is likely to be a key focus of players in the global multiple sclerosis treatment market over the forecast period.
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Multiple Sclerosis Treatment Market Competitive Analysis:
Leading players in the global multiple sclerosis treatment market include AbbVie, Novartis, Merck, Sanofi Aventis, Pfizer Inc., Biogen Idec, Bayer Healthcare, and Teva Pharmaceuticals.
Research projects are likely to be highly important in the global multiple sclerosis treatment market over the forecast period. In October 2019, a doctor in Lansing, MI, announced that a team is working on identifying the early signs of multiple sclerosis through proteins in the blood called neurofilaments. However, this research is limited to early diagnosis of the disease and doesn’t consider the treatment of the disease.
Multiple Sclerosis Treatment Market Segmentation:
The global multiple sclerosis treatment market is segmented based on drug type, route of administration, diagnosis, end use, and region.
By drug type, the global multiple sclerosis treatment market is segmented into immunomodulators, immunosuppressants, and others.
By route of administration, the global multiple sclerosis treatment market is segmented into injectable, oral, and others.
By diagnosis, the global multiple sclerosis treatment market is segmented into MRI, simple electrical stimulation tests, lumbar puncture, and others.
By end user, the global multiple sclerosis treatment market is segmented into hospitals, clinics, and others.
Multiple Sclerosis Treatment Market Regional Analysis:
The Americas segment held a dominant 40% share in the global multiple sclerosis treatment market in 2016 and is likely to remain a leading revenue generator over the forecast period due to the strong presence of drug development activities and research projects.
Multiple Sclerosis Treatment Market Key Players:
Some of the leaders of the market include Bayer Healthcare (Germany), Teva Pharmaceuticals (Israel), Biogen Idec (US), Sanofi Aventis (France), Pfizer Inc. (US), Merck (US), AbbVie (US), and Novartis (Switzerland)among others.
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