22 February 2021
Visiongain has published a new report on Multiple Sclerosis Drugs Market Report 2021-2031: Forecasts By Drug Class (Corticosteroids, Interferon Beta, Sphingosine 1 Phosphate Receptor Modulators, Mixed Polymers, NF-κB Inhibitor, Pyrimidine Synthesis Inhibitor, Monoclonal Antibodies, Corticosteroids, Adrenocorticotropic Hormone, and Others), By Disease Type (Relapsing-remitting MS (RRMS), Primary-progressive MS (PPMS), Secondary-progressive MS (SPMS), and Progressive-relapsing MS (PRMS)), By Route of Administration (Parenteral, and Oral), By Drug Type (Generic Drug, and Branded Drug) By Patient Demographics (Geriatric Patient, Adult Patient, and Pediatric), By End User (Hospitals, Homecare, Specialty Clinics, Academic and Research Institute, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies) PLUS Profiles of Leading Manufacturing Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Multiple Sclerosis Drugs market was valued at US$ xx Million in 2020 and is projected to reach at a market value of US$ xx Million by 2031. North America dominated the global Multiple Sclerosis Drugs market and is projected to witness CAGR of XX% during the first half of the forecast period i.e. 2021 to 2031.
COVID-19 Impact on Multiple Sclerosis Drugs Market
COVID-19 impact through different recovery models such as V-shaped, U-shaped, W-shaped, and L-shaped; has been taken into consideration while estimating and forecasting the Multiple Sclerosis Drugs market. Different recovery scenarios are also included in the report for all the segments and regions/nation. The recovery scenarios based on which market has been forecasted and analysed herein the report are mentioned below:
Increasing Prevalence of Multiple Sclerosis
Multiple sclerosis has been classified as a chronic disease which affects the central nervous system, particularly the spinal cord, brain, and optic nerves. Multiple sclerosis can lead to urinary tract infections and reduced activity and loss of mobility. Multiple sclerosis prevalence is increasing very significantly as compared to the last few years and it is expected that multiple sclerosis prevalence will increase during the forecast period. Increasing multiple sclerosis cases is creating a huge demand for the multiple sclerosis drugs for the treatment of multiple sclerosis. Due to which Increasing prevalence of Multiple sclerosis is working as a driver for the multiple sclerosis drugs market.
Increasing Research and Development for Multiple Sclerosis Drugs
Increasing prevalence of multiple sclerosis diseases has led various researchers and manufactures to increase their research and development activities for development of multiple sclerosis drugs for the treatment of multiple sclerosis. Various manufactures from all over the world have applied for most promising multiple sclerosis drugs which are currently in different regulatory approval phases. However, various manufacturers have already launched their multiple sclerosis drugs. Increasing research and development activities for multiple sclerosis drugs are fulfilling increased demand of multiple sclerosis drugs with increasing availability of multiple sclerosis drugs at most competitive price. Due to which Increasing research and development for multiple sclerosis drugs are working as a driver for the multiple sclerosis drugs market.
Increasing Strategic initiatives in Multiple Sclerosis Drugs
Manufactures present in the market are taking various strategic initiatives in order to increase their revenue generation in the market, strategic initiatives such as mergers & acquisitions, product launches and press conference & events. These strategic initiatives are helping manufacturers in the market to increase their revenue generation due to this reason increasing strategic initiatives in the multiple sclerosis drugs market working as a driver for the multiple sclerosis drugs market.
Top companies (Allergan plc, Beximco Pharmaceuticals Ltd, and Cipla Limited) constitute more than XX% share of the global Multiple Sclerosis Drugs market. Other companies profiled in the report include: Mylan N.V., Nephron Pharmaceuticals Corporation, Sun Pharmaceutical Industries Ltd., Hikma Pharmaceuticals PLC, Sandoz International GmbH (a Novartis Division), Perrigo Company plc, Teva Pharmaceutical Industries Ltd. and Other Company among) others Some of the key developments are listed below:
● In 2019, Biogen Inc. & Alkermes plc have received U.S. Food and Drug Administration (FDA) approval for VUMERITY (diroximel fumarate), which is a novel oral administrable for the treatment of relapsing forms of multiple sclerosis (MS). The approval is expected to help the company to its market share in the Multiple Sclerosis Drugs market.
● In 2018, Sanofi launched Aubagio (teriflunomide, 14 mg) in India. Aubagio is a ‘once-daily’ oral ‘disease modifying therapy’ (DMT) for treatment of multiple sclerosis disease. With the launch of a new drug for treatment of multiple sclerosis disease the company is expected to increase their market presence in the multiple sclerosis drugs market.
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