Increase in number of pipeline drugs, surge in patient population, and rise in number of patient assistance programs boost the global market
PORTLAND, OREGON, UNITED STATES, September 17, 2021 /EINPresswire.com/ — Increase in number of pipeline drugs, surge in patient population, and rise in number of patient assistance programs (PAPs) drive the global multiple sclerosis therapies market. However, unspecified etiology of the disease restrains the market growth. On the other hand, the introduction of disease-modifying drugs and usage of off-label drugs will create new opportunities in the coming years.
The global MS therapies market was valued at $22.99 billion in 2018, and is projected to reach $28.00 billion by 2026, registering a CAGR of 2.5% from 2019 to 2026. Multiple sclerosis is categorized as an autoimmune, chronic, and inflammatory disease of the CNS.
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1) During the coronavirus pandemic, MS therapies are getting popular among consumers as they face various health issues and intend to consolidate immunity system.
2) The medication centers across the globe have been closed during lockdown to avoid the spread of coronavirus.
3) The report offers a detailed segmentation of the global MS therapies market based on type, route of administration, and region.
Based on type, the immunosuppressants segment contributed to the largest share in 2018, accounting for nearly two-thirds of the total share, and is estimated to maintain its dominant position during the forecast period. Moreover, this segment is estimated to portray the highest CAGR of 2.8% from 2019 to 2026. The report also analyzes the immunomodulators segment.
The oral segment to maintain its leadership position during the forecast period-
Based on route of administration, the oral segment contributed to the highest market share with more than two-fifths of the global multiple sclerosis therapies market share in 2018, and is estimated to maintain its leadership position during the forecast period. Furthermore, the segment is estimated to generate the fastest CAGR of 2.8% from 2019 to 2026. This is due to significant therapeutic advances in the new orally administered drugs approved for the MS treatment.
North America to maintain its dominant by 2026-
Based on region, North America, accounted for the highest share based on revenue, holding for nearly two-fifths of the total share of the global multiple sclerosis therapies market in 2018, owing to rise in U.S. FDA approvals for medications used in the treatment of MS and improved healthcare system in this region. However, LAMEA is estimated to portray the fastest CAGR of 3.1% from 2019 to 2026, owing to the high prevalence of MS in the Middle East countries.
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Leading market players-
Bristol-Myers Squibb Company
F. Hoffmann-La Roche Ltd.
Teva Pharmaceutical Industries Ltd.
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Source: EIN Presswire