The global multiple sclerosis therapeutics market is expected to reach USD 24.8 billion by 2024 according to a new report by Grand View Research, Inc.
The
presence of high unmet clinical needs in developing regions is one of the
highest impact rendering drivers of the multiple sclerosis therapeutics market.
Many organizations over the globe are actively involved in spreading awareness
among people regarding progressive multiple sclerosis and the symptoms
associated with it. Some notable examples include the National Multiple
Sclerosis Society (NMSS) in the U.S., Multiple Sclerosis International
Federation in Canada, European Multiple Sclerosis Platform (EMSP), and the
Multiple Sclerosis Society (MSC).
Reimbursement
programs are also anticipated to enhance the penetration of multiple sclerosis
drugs. For instance, In June 2014, Biogen Idec Canada, announced that its
TECFIDERA drug for the treatment of MS is available for reimbursement in
British Colombia through B.C PharmaCare.
The
introduction of novel therapeutics with minimal dosage requirement and
cost-effectiveness is further expected to favor market growth. For, instance
Lemtrada by Sanofi needs to be administered 3-5 times per year as compared to
Copaxone, which requires daily administration.
Full Research Report On Multiple Sclerosis Therapeutics Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/multiple-sclerosis-therapeutics-market
Further key
findings from the study suggest:
- The dominant drug class
segment in 2015 was immunomodulators. Avonex, Betaseron, Copaxone, and
Rebif were the key drugs capturing over 75% of market share in 2015.The
introduction of Tecifedra, an oral immunomodulatory drug in 2015 has been
a major breakthrough in this segment.
- The declining revenue of
Copaxone, Gilenya, Avonex, and Tysabri is forecasted by considering the
factors such as limited usage rates of these drugs owing to the
availability of highly potent FDA-approved oral drugs, Aubigio and
Tecfidera
- Immunosuppressant,on the
other hand, is expected to witness significant growth of over 18.0%. The
presence of a strong drug pipeline and its expected commercialization in
the coming six years are some factors expected to drive market growth
- In 2015, the injectable
drugs market held the largest share owing to high prescription rates &
price
- North America dominated the
overall multiple sclerosis therapeutics market with revenue estimates at
over 13.0 billion in 2015. The increasing prevalence of multiple
sclerosis, the introduction of new drugs, and high prices of drugs, such
as Tysabri and Aubagio in the U.S., are some factors responsible for its
dominance.
- Major companies operating in
this market are Biogen Idec, Teva Pharmaceuticals, Bayer Healthcare,
Pfizer, Sanofi Aventis, Merck, Novartis, and AbbVie. Market players are
upgrading the product portfolio by launching generic versions to sustain
its market position. For instance, in 2015, Novartis launched a generic
version of Copaxone named Glatopa in the U.S.
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Grand View Research has segmented
the multiple sclerosis therapeutics market on the basis of drug class, mode of
administration, and region:
Multiple Sclerosis
Therapeutics market drug class outlook, by revenue (USD Million, 2012 - 2024)
- Immunomodulators
- Immunosuppressant
Multiple Sclerosis
Therapeutics market mode of administration outlook, by revenue (USD Million,
2012 - 2024)
- Injectable
- Infused/Intravenous
- Oral
Multiple Sclerosis
Therapeutics market regional outlook, by revenue (USD Million, 2012 - 2024)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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