Multiple Sclerosis Drugs Market Size to grow at a CAGR of 6.10%
Multiple Sclerosis Drugs Market is valued at USD 23950.39 Million in 2018 and expected to reach USD 36251.02 Million by 2025 with the CAGR of 6.10% over the forecast period.
Rising demand for research and developments related to the new drug discovery as well as rising mergers & acquisitions with huge investment for the treatment of multiple sclerosis are some important factor driving the growth of multiple sclerosis drugs market.
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Scope of the Multiple Sclerosis Drugs Market Report:
Multiple sclerosis (MS) is a nervous system disease which affects & disrupts communication between spinal cord and the brain. MS damages the myelin sheath which is insulating layer of the nervous system of the body. Myelin sheath is a surrounds and protects human nerve cells. This damage blocks messages between brain and the body and leads to the symptoms of MS. Some of the major symptoms of MS include thinking and memory problems, vision loss, pain, fatigue and impaired coordination, problem in coordination & balancing of the body and muscle weakness. These symptoms vary from person to person and mostly the chances of MS are higher in women than in men which occur in the age group of 20 to 40. Physiotherapy and certain type of drug medications help in suppressing the immune system and slower disease progression. The most common drugs used for the treatment of MS are Avonex, Betaseron, Copaxone, Extavia, Glatiramer Acetate Injection, Aubagio , Gilenya, Mavenclad, Mayzent whereas in infused drugs include Lemtrada Novantrone, Ocrevus and many others. There are certain forms of MS diseases i.e. elapse-remitting and primary-progressive which can be cured by using anti-inflammatory, immunosuppressive drugs and steroids.
Global multiple sclerosis drugs market reports cover prominent players,
Novartis AG, Roche Ltd, F. Hoffmann-La, Biogen, Sanofi, Bayer, GlaxoSmithKline, Teva Pharmaceutical, Merck, Serono, Pfizer, Abbvie, Biogen Idec, AB Science, Opexaa, Others
The global multiple sclerosis drugs services market is segmented on the basis of drug class, route of administration, distribution channel and region. Based on drug class the global multiple sclerosis drugs market is segmented into immune modulator, immune suppressant, interferon, others. Based on route of administration the multiple sclerosis drugs market is segmented by oral, injection, intravenous, infused and others. Based on distribution channel the multiple sclerosis drugs market is segmented by hospital pharmacy, retail pharmacy, and online stores.
The regions covered in global multiple sclerosis drugs market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, Global Melanoma Drug Market sub divided in to U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Multiple Sclerosis Drugs Services Market Dynamics –
The key factor for growth of global multiple sclerosis drugs market is the rise of demand in the market by pharmaceutical and biotechnological companies with surge in research and development activities including various clinical trials for advanced new drugs against MS disease with huge investment. Recently Biogen the major pharmaceutical drugs manufacturing company had bought a brain disorder drug helpful to treat neurological and inflammatory conditions including MS for USD 217 million. In addition to this, according to the report of Pharmaceutical Research and Manufacturers of America in 2009, America’s pharmaceutical research and biotechnology companies holds huge investment in pharmaceutical R&D with USD 65.3 billion spent on R&D, including USD 45.8 billion by PhRMA members alone and has been risen up to USD 1.1 trillion with rising number of clinical trials with producing new 7000 drugs by the year 2019. However, global multiple sclerosis drugs market can be hampered by the high investment require to manufacture new drugs, patent expiry as well as strict government rule and regulations. Moreover rising focus on biological medicines with technological advancement using artificial intelligence, nano-technology for the clinical drugs manufacturing may form the huge opportunity to fuel the global multiple sclerosis drugs market during the forecast period as specialty medicines require scientific expertise and researchers.
Multiple Sclerosis Drugs Market Segmentation –
by Drug Class: Immune modulator, Immune suppressant, Interferon, Others
by Route of Administration: Oral, Injection, Intravenous, Infused, Others
by Distribution Channel: Hospital pharmacy, Retail pharmacy, Online stores
Multiple Sclerosis Drugs Market Regional Analysis –
North America is dominating the multiple sclerosis drugs market with the potential rate due to presence of biopharmaceutical, and pharmaceutical companies for clinical research studies. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), U.S. firms has more than half of the world's Research & Development in pharmaceuticals spending USD 75 billion and hold the intellectual property rights on most new medicines through its advanced contract based clinical research. The U.S. has the substantial overall economic impact of the biopharmaceutical industry which accounted for more than USD 1.3 trillion in economic output, representing 4 percent of total U.S. output in 2015 alone. This biopharmaceutical businesses economic impact has revenue generated in 2015 was USD 558 billion.
Europe is the second-largest region for dominating the growth of multiple sclerosis drugs due to rise cases of diseases like multiple sclerosis, cardiovascular diseases, cancer etc. as well as surge in investment in R&D for treatment of this diseases in this region. According to European Federation of Pharmaceutical Industries and Associations in 2017, the Europe had invested an around Euro 35,200 million in Research & Development.
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