Multiple Sclerosis Therapies Market Expected to Reach $28.00 Billion by 2026—Allied Market Research

According to a new report published by Allied Market Research, titled, “Multiple Sclerosis Therapies Market by Type and Route of Administration:  Opportunity Analysis and Industry Forecast, 2019-2026” the global 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 categorized as an autoimmune, chronic, and inflammatory disease of the CNS. According to the data published by the National Multiple Sclerosis Society, around 1.0 million individuals have multiple sclerosis in the U.S. alone, and approximately 2.3 million people globally. This number is further expected to continue to grow each year, which, in turn, makes it important to discover multiple sclerosis therapies with improved effectiveness and minimum side effects. Government as well as non-government bodies in developed and emerging regions are contributing funds for R&D of new multiple sclerosis therapies and increasing awareness related to multiple sclerosis.

The global MS therapies market is segmented into type, route of administration, and region. By type, the market is bifurcated into immunosuppressants and immunomodulators. Depending on route of administration, it is divided into oral, injectable, and intravenous. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

On the basis of type, the immunosuppressants segment is expected to grow at a lucrative CAGR of 2.80%, owing to increase in use of immunosuppressive therapies for treating multiple sclerosis in developed countries. Furthermore, 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.

As per route of administration, the oral segment is anticipated to grow significantly in the near future, due to increase in product approval and lesser side effects of medications. 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.

The report provides a comprehensive analysis of the key players operating in the global multiple sclerosis therapies market, which include ABBVIE INC., Bayer AG, Biogen, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Merck KGaA, Novartis AG, Pfizer Inc., SANOFI, and Teva Pharmaceutical Industries Ltd.

Key Findings Of The Study

• North America garnered 36.33% share of the global MS therapies market in 2018.

• By type, immunosuppressants segment is anticipated to grow with the highest CAGR throughout the forecast period.

• The injectable segment accounted for 33.10% share of the market in 2018.

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.