The Global Multiple Sclerosis Market Size is majorly driven by the factors such as rising number of consolidations between the market players for exploring the untapped market opportunity across the world.
Multiple Sclerosis (MS) is a disease in which the insulating covers of nerves and spinal cord are damaged. These damages disrupt the functioning of nervous system, which results in double vision, muscles weakness, blindness in one eye, and trouble with sensation & coordination. The cause of MS is not clear, but the underlying mechanism causes either destruction to the immune system or failure of myelin-production cells in the body. Generally, MS is diagnosed with the presenting signs, symptoms and the result of supporting medical tests.
Multiple Sclerosis is of four types namely; ‘Relapsing-remitting multiple sclerosis’ (RRMS), ‘Secondary-Progressive Multiple Sclerosis’ (SPMS), ‘Primary-Progressive Multiple Sclerosis (SPMS)’, and ‘Progressive-Relapsing Multiple Sclerosis’ (PRMS). The Secondary-progressive multiple sclerosis is the most common type of MS, generally caused in the adults between 15-60 years of age. Similarly, the children and teenagers can also be affected by the paediatric MS, it is estimated that approximately 10,000 children and teen are diagnosed with MS and had almost one symptom of this disease. In addition, The Multiple Sclerosis Foundation reported approximately 2.5 million of people are suffering from MS globally.
The growth in global multiple sclerosis market is primarily driven by increasing number of individuals suffering from multiple sclerosis. In addition, some notable changes in recent past for the treatment of the RRMS, and continuous drug development for treating multiple sclerosis is also expected to aid the growth in this market. Moreover, oral drugs like Aubagio in 2012-2013 were launched as they have proper role in treating multiple sclerosis for various age groups and there is preference shift towards different and sedentary life style. These factors coupled with the improving healthcare infrastructure in the developing economies will surge the global market for multiple sclerosis during the forecast period.
However, the cost of the treatment, and unawareness about the causes if MS might hinder the growth of this market during the forecast period.
The worldwide multiple sclerosis market size is segmented on the basis of drug type, route of administration, and geography.
On the basis of drug type, market is segmented into:
On the basis of route of administration type, market is segmented into:
Multiple Sclerosis market, by drug type is majorly categorized into immunosuppressant’s, and immunomodulators
The immunomodulators segment is further segmented into Ampyra, Capxone, Betaseron/Extavia, Gilneya, Avonex/Plegridy, Tyasabri, Rebif, and Teucifidera The global immunomodulators market is primarily driven by the increasing preference and awareness for the use of biologic drugs as they have been resulting to be the most effective treatment in some past year. Thus, increased preference of biologics would spur the market of immunomodulators in the multiple sclerosis market during the forecast period.
Geographically, the global market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is expected to dominate the multiple sclerosis market share over the forecast period. It holds major share owning to the increasing research and development by the large pool of players in the market. Moreover, the rising preference for biological drugs to boost the market in North America.
However, Asia Pacific to grow at a faster pace due to increased awareness for the diagnosis of multiple sclerosis, and developing healthcare infrastructure of the developing countries like China, Japan, and India.