The global multiple sclerosis therapeutics market is expected
to reach USD 24.8 billion by 2024 according to a new report by Grand View
Research, Inc.
The presence of high unmet
clinical needs in developing regions is one of the highest impact rendering
drivers of the multiple sclerosis therapeutics market. Many organizations over
the globe are actively involved in spreading awareness among people regarding
progressive multiple sclerosis and the symptoms associated with it. Some
notable examples include the National Multiple Sclerosis Society (NMSS) in the
U.S., Multiple Sclerosis International Federation in Canada, European Multiple
Sclerosis Platform (EMSP), and the Multiple Sclerosis Society (MSC).
Reimbursement programs are also
anticipated to enhance the penetration of multiple sclerosis drugs. For
instance, In June 2014, Biogen Idec Canada, announced that its TECFIDERA drug
for the treatment of MS is available for reimbursement in British Colombia
through B.C PharmaCare.
The introduction of novel
therapeutics with minimal dosage requirement and cost-effectiveness is further
expected to favor market growth. For, instance Lemtrada by Sanofi needs to be
administered 3-5 times per year as compared to Copaxone, which requires daily
administration.
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Further key findings
from the study suggest:
·
The dominant drug
class segment in 2015 was immunomodulators. Avonex, Betaseron, Copaxone, and
Rebif were the key drugs capturing over 75% of market share in 2015.The
introduction of Tecifedra, an oral immunomodulatory drug in 2015 has been a
major breakthrough in this segment.
·
The declining
revenue of Copaxone, Gilenya, Avonex, and Tysabri is forecasted by considering
the factors such as limited usage rates of these drugs owing to the
availability of highly potent FDA-approved oral drugs, Aubigio and Tecfidera
·
Immunosuppressant,on
the other hand, is expected to witness significant growth of over 18.0%. The
presence of a strong drug pipeline and its expected commercialization in the
coming six years are some factors expected to drive market growth
·
In 2015, the
injectable drugs market held the largest share owing to high prescription rates
& price
·
North America
dominated the overall multiple sclerosis therapeutics market with revenue
estimates at over 13.0 billion in 2015. The increasing prevalence of multiple
sclerosis, the introduction of new drugs, and high prices of drugs, such as
Tysabri and Aubagio in the U.S., are some factors responsible for its
dominance.
·
Major companies
operating in this market are Biogen Idec, Teva Pharmaceuticals, Bayer
Healthcare, Pfizer, Sanofi Aventis, Merck, Novartis, and AbbVie. Market players
are upgrading the product portfolio by launching generic versions to sustain
its market position. For instance, in 2015, Novartis launched a generic version
of Copaxone named Glatopa in the U.S.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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