Multiple Sclerosis Treatment Market: Growth Opportunities, Top Key Players

Posted by Vinit on January 7th, 2021

Multiple Sclerosis Treatment Boomers & Decliners

Multiple sclerosis therapeutics is a widespread degenerative neurological condition that is found among young adults. Multiple Sclerosis Trust claims that approximately 2.5 million people worldwide have multiple sclerosis, with a higher number of women getting affected by the condition than men. In the UK, Public Health England, the UK government’s health agency, found that between 2018 and 2020, the number of multiple sclerosis patients rose to 131,720. In the US, on the other hand, data from the National Multiple Sclerosis Society opened up that almost one million people in the US are living with multiple sclerosis. Thus, the rising incidence of this condition is expected to surge the multiple sclerosis treatment market growth.

The market is witnessing enormous attraction in clinical research and R&D investment. Many pharmaceutical companies are focusing on developing new therapies for multiple sclerosis treatment. In the case of point, Pipeline Therapeutics is conducting clinical trials on PIPE-307, which is a selective M1 receptor antagonist for MS. Surged research activities have also lined ways for many research collaborations involving pharmaceutical companies and research institutes, further favoring the multiple sclerosis treatment market. Also, augmented research on diverse new candidates has resulted in strengthening the pipeline portfolio of leading pharmaceutical companies. The estimated launch of these pipeline candidates is probable to drive the multiple sclerosis treatment market growth considerably.

Market Landscape

Multiple sclerosis has no permanent cure and can be diagnosed and treated, which can reduce the progression of MS. The increasing patient population, greater screening, and need for better treatment options are major factors for growth of this market during forecasted period. The disease is more common in aging population. Which is likely to boost the growth of the market.

Driven by the launch of various better treatment options, a new report by Market Research Future has projected that the multiple sclerosis treatment market 2020 will reach towering revenue by 2023. While this, the market shows promising inflation at a rate of 3.5% during the years 2017-2023—forecasted period.

Asia Pacific region is expected to proliferate as China and India are likely to lead this market. The fast-growing healthcare sector and unmet needs are the factors leading to the market’s growth. India, China, and Malaysia are projected to contribute exceedingly to market expansion. The emerging penetration of the healthcare industry in the Asia Pacific region is expected to compel the future multiple sclerosis treatment market in the region.

Multiple Sclerosis Market Key Players

Bayer Healthcare (Germany), Teva Pharmaceuticals (Isreal), Pfizer Inc. (US), Biogen Idec (US), Merck (US), Sanofi Aventis (France), AbbVie (US), and Novartis (Switzerland) are the key players.