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.
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http://www.grandviewresearch.com/industry-analysis/multiple-sclerosis-therapeutics-market
http://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.
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
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
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.
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