Pune, India, May 30, 2022 (GLOBE NEWSWIRE) -- The global multiple sclerosis drugs market size was worth USD 23.68 billion in 2021. The market valuation is projected to increase from USD 25.43 billion in 2022 to USD 33.17 billion by 2029 at a CAGR of 3.9% during 2022-2029. In recent years, the incidence of multiple sclerosis has increased significantly. According to the Multiple Sclerosis International Federation, the number of multiple sclerosis patients reached 2.8 million in 2020, up from 2.3 million in 2013. Increasing federal funding and accelerated R&D efforts to address the increasing occurrence of multiple sclerosis will positively impact the market growth.
Key Industry Development-
August 2020 - Novartis received the U.S. FDA approval for the use of Kesimpta (ofatumumab, formerly OMB157) as an injection for treating relapsing forms of multiple sclerosis.
Request a Sample Copy of Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/multiple-sclerosis-drugs-market-100386
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2021 to 2028 CAGR | 3.9% |
| 2029 Value Projection | USD 33.17 Billion |
| Base Year | 2020 |
| Market Size in 2022 | USD 25.43 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 160 |
| Segments covered | Drugs, Route of Administration, end-Users and Geography |
| Growth Drivers | Disruption in Supply Chain of Manufacturers to Negatively Impact the Market |
| Shift towards Monoclonal Antibodies for Treatment to Boost the Market | |
| Significant RD Investment to Boost the Market |
Drivers & Restraints-
Growing R&D Investments in Neurology to Augment Market Development
R&D investments in the field of neurology have gained significant traction in the past few years. Leading players in the market are making substantial investments to bring novel solutions to the market. Several major developments have been made during the last decade, leading to numerous major breakthroughs. Accelerated R&D efforts to tackle the increasing burden of multiple sclerosis will boost the market growth in the coming years.
COVID-19 Crisis to Create Severe Supply Chain Disruptions that will Stall Business Growth
The multiple sclerosis drugs market growth witnessed considerable slowdown during the COVID-19 pandemic due to delays in the diagnosis and treatment of the disease. Consequently, numerous major players witnessed a drop in revenue in 2020. The overall market share experienced a slower-than-anticipated growth of just 1.2% during 2020. However, the market is well poised for recovery as the impact of COVID-19 subsides.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/multiple-sclerosis-drugs-market-100386
Segments-
By Drug Class Analysis
By Drug Class, Immunomodulators Segment to Record Robust Gains Through 2029
Based on drug glass, the Multiple Sclerosis Drugs Market share is divided into interferons, immunosuppressants, immunomodulators, and others.
In 2021, the immunomodulators segment held the dominant market share, owing to wider treatment options and continuous new product launches. Citing an instance, in January 2020, the European Commission approved Mayzent (siponimod) by Novartis for treating Secondary Progressive Multiple Sclerosis (SPMS) in adult patients.
The others segment, which includes molecular antibody products and antineoplastics, will gain traction during the forecast period.
By Route of Administration, Oral Segment to Experience Notable Demand over 2022-2029
Based on route of administration, the market is bifurcated into injection and oral. The injection segment captured the major market share during 2021 and is expected to experience strong demand through 2029. This demand is attributable to the rising number of multiple sclerosis drugs approvals.
On the other hand, the oral segment is projected to record the fastest CAGR during the forecast period led by the widespread shift toward oral drugs.
By Distribution Channel, Hospital Pharmacy Segment Captures Substantial Market Share
In terms of distribution channel, the market is segmented into retail pharmacy, hospital pharmacy, and online pharmacy. Among these, the hospital pharmacy segment is expected to hold the dominant market share due to supportive health reimbursement policies and continuous government efforts to bolster hospital pharmacies.
Online pharmacy segment is anticipated to gain substantial traction in the forthcoming years led by the growing number of online portals supplying prescription drugs worldwide.
Quick Buy Multiple Sclerosis Drugs Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100386
Regional Insights-
North America to Hold Dominant Share Led by Expanding R&D
North America dominated the global multiple sclerosis drugs market share in 2021 with a revenue worth USD 11.36billion. Key factors supporting the regional growth are increasing R&D and novel product launches.
The European market is anticipated to hold the second largest share in the market, supported by active government investments and a favorable reimbursement scenario. Meanwhile, the market in Asia Pacific will be driven by the growing number of collaborations between biotech companies.
Competitive Landscape-
Major Market Players Seek Regulatory Approvals to Expand Market Share
Leading players involved in the development of multiple sclerosis drugs include Biogen and F. Hoffmann-La Roche Ltd. Growing R&D and regulatory approvals for novel solutions are key factors for the dominance of these companies. For instance, Biogen received the marketing approval from the European Commision for the injection of TYSABRI (natalizumab) in April 2021. Other key players include Sanofi, Novartis AG, and MErck KGaA.
List of Key Market Players:
- Biogen (U.S.)
- Pfizer Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Novartis AG (Switzerland)
- Merck & Co., Inc. (U.S.)
- Sanofi (France)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Janssen Pharmaceuticals, Inc. (Johnson & Johnson Corporation) (New Jersey)
- Bristol-Myers Squibb Company (U.S.)
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/multiple-sclerosis-drugs-market-100386
Detailed Table of Content:
- Global Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
- Multiple Sclerosis Drugs Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Injection
- Intramuscular
- Subcutaneous
- Intravenous
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Drug Class
- North America Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Injection
- Intramuscular
- Subcutaneous
- Intravenous
- Multiple Sclerosis Drugs Market Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Market Analysis, Insights and Forecast – By Drug Class
- Europe Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Injection
- Intramuscular
- Subcutaneous
- Intravenous
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Country/Sub-region
- Germany
- U.K.
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
- Market Analysis, Insights and Forecast – By Drug Class
TOC Continued……
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/multiple-sclerosis-drugs-market-100386
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower, Baner
Mahalunge Road, Baner, Pune - 411045,
Maharashtra, India.
Phone:
U.S.: +1 424 253 0390
U.K.: +44 2071 939123
APAC:+91 744 740 1245
Email: sales@fortunebusinessinsights.com
Press: https://www.fortunebusinessinsights.com/press-release/multiple-sclerosis-drugs-market-9105
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
