Best News Network

Multiple Sclerosis Drugs Market Size Forecast [2022-2028] | is Projected to Reach USD 41.99 Billion, Exhibiting a CAGR of 6.3 %

Pune, India, Jan. 19, 2022 (GLOBE NEWSWIRE) — The global multiple sclerosis drugs market size is set to gain traction as many leading pharmaceutical companies are conducting clinical trials to discover innovative and effective therapies for the treatment of this immune disorder. For instance, in December 2020, Adamas Pharmaceuticals, Inc. declared the results of its phase 3 clinical trials on ADS-5102, for the treatment of multiple sclerosis (MS) patients. This information is given by Fortune Business Insights™ in a published report, titled, “Multiple Sclerosis Drugs Market, 2021-2028.” As per the report, the market size was USD 26.05 billion in 2020 and is projected to reach USD 41.99 billion by 2028, exhibiting a CAGR of 6.3 % during the forecast period.

Industry Developments

August 2020 – Novartis launched its U.S. Food and Drug Administration (FDA) has approved subcutaneous injection Kesimpta (ofatumumab), for the treatment of relapsing forms of multiple sclerosis (RMS). 

January 2020 – Bristol Myers Squibb launched Zeposia. This drug is one of the economical drugs available in the market for MS patients.

Request a Sample Copy of Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/multiple-sclerosis-drugs-market-100386

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 6.3%
2028 Value Projection USD 41.99 Billion
Base Year 2020
Market Size in 2021 USD 27.38 Billion
Historical Data for 2017 to 2019
No. of Pages 160
Segments covered Drugs, Route of Administration, end-Users and Geography
Growth Drivers Disruption in Supply Chain of Manufacturers to Negatively Impact the Market
Shift towards Monoclonal Antibodies for Treatment to Boost the Market
Significant RD Investment to Boost the Market

COVID-19 Pandemic: Disruptions in Supply Chain and Production Delays to Hinder Growth

The outbreak of the COVID-19 pandemic has severely affected the multiple sclerosis drugs market growth as it has caused some disruption in the supply chain of several major players operating in the multiple sclerosis drugs industry. For example, Biogen reported that one of its major drugs named TECFIDERA used for the treatment of multiple sclerosis witnessed a decline of 13% in 2020 as compared to the previous year. This decline was seen as a DMT based approach for the treatment of MS that has an adverse effect on COVID-19 patients.  These factors are expected to moderately impact the market growth.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/multiple-sclerosis-drugs-market-100386

Proactive Measures Taken by Governments to Strengthen the Market Growth

As the prevalence of MS is increasing at an alarming rate, governments are aiding the market by campaigning about different treatment options available. In June 2018, for instance, the National Institute of Health and Care Excellence (NICE) announced recommendations for the use of beta interferons such as Avonex, Betaferon, Extavia, Rebif. These steps taken by government agencies will fuel the market in the upcoming years.

Despite government interference, the cost of drugs for multiple sclerosis remains a major challenge for the growth of the market. From 2013 to 2018, the price was increased by more than US$ 20,000. Thus, increased prices of the drugs will add to the economic burden owing to the rise of out-of-pocket expenses.

Availability of Monoclonal Antibodies for MS Treatment to Favor Market Growth

Monoclonal antibodies, as the name suggests, are clones of a specific antibody, which are developed as multiple sclerosis drug treatments. Their most notable feature is that they can tailor the immune system response to MS by binding to specific, targeted proteins on the body’s normal cells. Thus, these antibody treatments can be designed to deliver a highly specific effect in a patient. More importantly, there is growing availability of monoclonal antibodies, with some treatments being more widely used than others. For instance, Roche’s Ocrevus antibody, which binds to and destroys B-cells, has been extensively adopted as an MS treatment since it received FDA approval in 2017. Similarly, Sanofi’s Lemtrada, which binds to proteins on white blood cells, has been available in the market since 2014, when it secured clearance from the FDA. Rising popularity of monoclonal antibodies is, therefore, proving critical in fueling the multiple sclerosis drugs market growth.

Quick Buy Multiple Sclerosis Drugs Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100386

Immunomodulators to Dominate the Market Owing to New Drug Launches

By drug class, the market is divided into immunomodulators, immunosuppressants, interferons, and others. Out of these, immunomodulators dominated the market in 2020 owing to new drug launches such as Mayzent.

On the other hand, immunosuppressants are also expected to see a substantial rise as the drug MAVENCLAD is characterized with long-term efficacy for the treatment of MS

List of Key Players Covered in the Multiple Sclerosis Drugs Market Report:

  • Bristol-Myers Squibb Company (New York, U.S.)
  • Sanofi (Paris, France)
  • Novartis AG (Basel, Switzerland)
  • Pfizer Inc. (New York, U.S.)
  • Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel)
  • Merck & Co., Inc. (New Jersey, U.S.)
  • F. Hoffmann-La Roche Ltd. (Basel, Switzerland)
  • Biogen (Massachusetts, U.S.)

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/multiple-sclerosis-drugs-market-100386

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.

Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]
Fortune Business Insights™
LinkedIn | Twitter | Blogs

Press: https://www.fortunebusinessinsights.com/press-release/multiple-sclerosis-drugs-market-9105

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Health News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.