Multiple Sclerosis Therapeutics Market

Report Description
Table of Contents

Report Description

The global multiple sclerosis therapeutics market size is estimated to be USD 27.84 billion in 2020 and is expected to witness a CAGR of 6.71% during the forecast period. Increasing global prevalence of target disease is a key driver for the growth of the global multiple sclerosis therapeutics market. Additionally, awareness programs regarding benefits of multiple sclerosis therapeutics for the treatment of target diseases and favorable reimbursement policies are some of the other drivers propelling the market growth. Nevertheless, side-effects and risks associated with multiple sclerosis therapeutics and indeterminate etiology of the disease are expected to restrain the global market growth.

Global Multiple Sclerosis Therapeutics Market Size (USD Billion), 2021-2029

Source: Erevna Healthcare

By Drug Class

Based on drug class, the market is segmented into immunosuppressants and immunomodulators. In 2020, the immunomodulators segment accounted for the substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is attributed to the higher prescription rates, brand loyalty, and existence of a wide range of drug alternatives worldwide. Immunosuppressant segment projected to grow at a profitable CAGR during the forecast period. This is attributed to benefits of these drugs such as high efficiency, effective administration rate with low amount requirement, and minimal side effects, which are expected to drive growth.

By Mode of Administration

Based on mode of administration, the market is segmented into intravenous, oral, and injectable. In 2020, the oral mode of administration segment accounted for a substantial revenue share and is expected to grow with lucrative CAGR during the forecast period. This is attributed to the launch of new products and the shift towards oral drugs. Injectable segment is projected to grow at a profitable CAGR during the forecast period. This is attributed to increasing incidence of patients missing out on their regular doses of medicines, which hampers the recovery process for the patients.

Regional Insights

In 2020, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the increasing diagnostic rates in the region, which is leading to a consequent rise in prescription rates. Asia Pacific market is projected to grow at the fastest CAGR over the forecast period due to the high level of unmet needs coupled with the growth in medical infrastructure in this region.

Competitor Insights

Some of the major companies in the multiple sclerosis therapeutics market Teva Pharmaceuticals (Israel), Pfizer (U.S.), Biogen Idec (U.S.), Bayer Healthcare (Germany), Genzyme (SANOFI) (U.S.), Merck & Co. (U.S.), Novartis (Switzerland), Bristol Myers Squibb (U.S.), Horizon Therapeutics (Dublin), and Takeda Pharmaceutical Company (Japan). Investment in R&D, novel product launches, and strategic collaborations & acquisitions are some of the major strategies adopted by the leading players operating in the industry.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The multiple sclerosis therapeutics market report is categorized into the following segments and subsegments: