Market Overview

The market studied is expected to witness rapid growth in the future owing to factors such as the rising prevalence of Multiple Sclerosis (MS) and the growing focus of companies on pipeline products for MS.

Big pharmaceutical companies are investing heavily in the drug development process and are planning to target as many indications as possible to cater to a large number of customers. Owing to this, the MS market is also getting benefited. For instance, drugs being developed for multiple sclerosis include the drugs for Relapsing-remitting MS, Secondary progressive MS, Primary progressive MS, and Myelin repair or neuroprotection. Biogen, a leading player in the market studied is developing Diroximel fumarate which is currently in phase III of development similarly Novartis is developing Ofatumumab which is also in Phase III.

Similar to the above-mentioned companies, there are other pharmaceutical players such as Pfizer Inc. that are developing drugs for MS. This indicates that pipeline drugs for MS will boost the market growth in the forecast period.

Scope of the Report

As stated by the National Multiple Sclerosis Society, Multiple sclerosis (MS) involves an immune-mediated process in which an abnormal response of the body’s immune system is directed against the central nervous system (CNS). MS therapeutics market covers the drugs that are being used for the treatment of this disease or to reduce the complications associated with the same.

Key Market Trends

Immunomodulators are Expected to Dominate the Drug Type Segment

Immunomodulators are used for the treatment of relapsing forms of Multiple Sclerosis. Immunomodulators help to slow the progression of physical disability and decrease the frequency of clinical exacerbations. The first immunomodulator approved by the US FDA was Interferon beta-1b which helped to reduce the frequency of clinical exacerbations. This drug had shown efficacy in patients who have experienced a first clinical episode and have MRI features consistent with MS.

Most of the currently available drugs for the treatment of MS are immunomodulators. Companies such as Biogen, Novartis, Teva Pharmaceuticals, Sanofi, etc. are involved in the development of immunomodulators as these drugs are found more effective in reducing the risks associated with this disease. Some of the immunomodulators include Plegridy, Tysabri, Lemtrada, Copaxone, etc.
Owing to the efficacy of immunomodulators and the focus of companies to develop the same, it is believed that this segment will be dominating the drug type segment.

North America to Dominate the Market

The market for Multiple Sclerosis Therapeutics is expected to show high growth in the North America region which is majorly attributed to the presence of key players and the rising prevalence of the disease in this region. United States is the major market for companies such as Biogen, Novartis AG, Sanofi SA, etc. Therefore, these companies focus more on establishing their new drugs in this market which ultimately contributes to the growth of this region.

Furthermore, as per the National Multiple Sclerosis Society, Canada is a country with the highest prevalence of MS in the world (291 per 100,000). In the case of the United States, the National MS Society estimated that there are around 1 million people in the country living with MS.
Hence, due to the high prevalence and presence of the key players, North America is expected to dominate the market.

Competitive Landscape

The market for MS therapeutics is consolidated as there are few players in this market. These companies are the big pharmaceutical companies that are currently focusing on pipeline drugs for multiple sclerosis. With the rising R&D investment in the pharmaceutical industry, it is believed that more companies will enter the market in the future and the competition will increase.

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