Multiple Sclerosis (MS) is a condition caused due to myelin damage that disrupts the impulse communication between the brain and rest of the body. 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.
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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. . 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. 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.
KEY MARKET BENEFITS:
- Inclusive intellects of factors driving the growth of the multiple sclerosis market is provided in the report. For instance, the growing demand for branded drugs with minimal side effects, favourable reimbursement structures and growing healthcare expenditures on sophisticated healthcare services would drive the global multiple sclerosis market
- The projections in this report are derived by analysing the current market trends and market potential for the period of 20142020, in terms of value
- Competitive intelligence (of leading manufacturers and distributors of MS drugs) helps in understanding the competitive scenario across geographies
- SWOT analysis of key market players is provided to illustrate the business strategies adopted by companies
- The report provides a quantitative analysis of the current market and estimations through 2014-2020 that help in identifying the prevailing market opportunities
- Market attractiveness analysis is included for various product end-users and geographic segments with detailed analysis of factors responsible for the rapid growth of market segments
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KEY MARKET SEGMENTS:
Global multiple sclerosis market is mainly segmented below:
Multiple Sclerosis Market – By treatment modality
- Injectable agents
- Oral agents
Multiple Sclerosis Market – By Geography
- North America