Multiple Sclerosis (MS) is a condition caused due to myelin damage that disrupts the impulse communication between the brain and rest of the body. Multiple Sclerosis (MS) is commonly observed in women between the ages of 20 to 50 years. According to the Multiple Sclerosis Foundation, approximately, ~2.5 million people are affected from multiple sclerosis. Increasing initiatives from the government for favourable reimbursements, rise in the number of R & D activities ofpharmaceutical companies and increasing incidences of MS are major factors responsible for the growth of the market. Moreover, pharmaceutical companies are targeting the Asia-Pacific region through research and development to commercialize drugs at affordable pricing.
This would provide a competitive advantage for the Asia-pacific MS drugs market. However, the side effects associated with therapeutics and unaffordable cost of drugs would limit the market growth. Nevertheless, the leading pharmaceutical companies operating in North America and Europe is shifting the focus on Asia-pacific region due to the growing demand for effective and economic MS treatment.
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Pharmaceutical companies belong to developed regions are focusing on the commercialization of novel therapeutics having minimal side effects and economic pricing. Such product launch strategy would provide an opportunity for the pharmaceutical companies across developing economies. Furthermore, the market is majorly supplemented by increasing funding from government authorities for research and development.
The global multiple sclerosis market is segmented into, treatment modality and geography. Based on treatment modality of multiple sclerosis, the market is categorized intoinjectable agents and oral agents. Geographically, the report is segmented across four regions namely, North America, Europe, Asia Pacific, and LAMEA. Presently, North America occupies majority of the market share followed by Europe and the Asia Pacific region. Product launch is the key strategy adopted by leading players operating in this market.
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The companies are building their core competencies by introducing novel therapeutics agents with minimal side effects. In 2013, Biogen Idec introduced Tecfidera, which is a safer and effective treatment as compared to the use of earlier drugs. This drug has reduced the annualized relapse rate (ARR) for MS patients by 44%, previously evaluated at 52% on the consumption of Gilenya. Companies profiled in this report include Biogen Idec, Novartis, EMD Serono, Sanofi, Teva Pharmaceutical, Bayer, Pfizer, Synthetic Biologic, Active Biotech, and Opexa.
Multiple Sclerosis Market - By treatment modality
- Injectable agents
- Oral agents
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