Global Multiple Sclerosis Drugs Market to Exhibit 6.7% CAGR, Leading Companies Focus on Strategic Collaborations to Expand their Footprint, says Fortune Business Insights
— The global multiple sclerosis drugs market is expected to gain from the development of economical therapy to treat multiple sclerosis (MS), finds Fortune Business Insights in a report, titled “MULTIPLE SCLEROSIS DRUGS: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026.” According to the report, the global market was worth US$ 23,460.3 Mn in 2018. The market is anticipated to expand at a CAGR of 6.7% and reach US$ 39,289.5 Mn by the end of 2026. The report offers a comprehensive overview of the global multiple sclerosis drugs market.
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As per the report, North America emerged dominant in the global market in 2018. The regional market was valued at US$ 13,826.7 Mn in 2018. The North America market is anticipated to expand and continue dominate the market during the forecast period 2019-2026. It is driven by the increasing demand for and high price of multiple sclerosis drugs. Additionally, several key market players operate in this region. Several among them are awaiting approval from the authorities for their newly developed therapeutics.
• Research Scope
• Market Segmentation
• Research Methodology
• Definitions and Assumptions
This is expected to increase the growth rate in the global market. Europe is anticipated to stand second on the leading list by the end of 2026. The growth witnessed is attributable to increasing government spending and recommendations for multiple sclerosis treatment. This is expected to fuel the demand in the region. Besides this, Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. Healthcare sector emerging in nations such as China and India is expected to contribute towards the Asia Pacific market expansion.
KEY COMPANIES COVERED IN THE REPORT
• Pfizer, Inc.
• Hoffmann-La Roche Ltd
• Merck & Co., Inc.
• Novartis AG
• Teva Pharmaceutical Industries Ltd.
In 2018, Biogen collaborated with Eisai Co. Ltd. to promote Tecfidera, Tysabri, and Avonex in Japan. This is anticipated to increase the demand in the global market.
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Development of New Therapeutics to Propel Growth
In terms of route of administration, the injection segment was leading the market in 2018 and is anticipated to expand considerably over the forecast period. The growth witnessed is attributable to the active government recommendation for the injection.
Development of new therapeutics for treating multiple sclerosis and rising awareness about the disease are a expected to drive the global multiple sclerosis drugs market. Additionally, increasing per-capita income and increasing healthcare expenditure are some factors anticipated to fuel the demand in the global market.
On the flip side, high cost associated with multiple sclerosis drugs and treatment and lack of availability of drugs are factors that may hamper the growth in the global market.
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Tecfidera’s Increasing Sale to Drive Biogen’s Growth in Global Market
Biogen emerged as the leading player in the global multiple sclerosis market in 2018, owing to the high sales of Tecfidera. Biogen is expected to witness impressive growth during the forecast period gaining from strategical partnering with other players to widen the distribution network. Besides this, Novartis AG is also among the leading organizations. Owing to high demand for Gilenya, Novartis holds a strong position in the global market. In 2018, the National Institute for Health and Care Excellence announced to recommend Extavia among other beta interferon drugs such as Avonex, Betaferon and Rebif. This is anticipated to contribute towards Novartis’s market position. Further, this is anticipated to fuel the demand for multiple sclerosis treatment and drugs. Some of the companies operating in the global market are Pfizer, Inc., F. Hoffmann-La Roche Ltd, Merck & Co., Inc., Sanofi, and Teva Pharmaceutical Industries Ltd.
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