A recently published report titled, “Multiple Sclerosis Treatment Market: Opportunity Analysis and Future Assessment 2022-2030” offers a thorough and profound assessment on the market stature along with the top leading facts and figures, definition, overview, expert opinions, SWOT analysis, as well as the recent developments of the market all around the world. The market report also computes the market size, market sales, revenue, price, market share and gross margin and market forecast, growth rate and cost structure. The report estimates the revenue created from the sales and technologies by various application segments.
In 2020, global multiple sclerosis treatment market was valued at US$ 23.6 Bn and expected to grow significantly at a CAGR of 5.7% over the forecast period
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Multiple Sclerosis Treatment Introduction
Multiple sclerosis can be understood as a chronic ailment that impacts the central nervous system, including the brain, optic nerves, and spinal cord. This chronic disease can pave its way to a comprehensive range of symptoms all over the body. Ultimately, the disease can give rise to perpetual damage or degradation of the nerves. The National Multiple Sclerosis Society reckons the number of people surviving with multiple sclerosis in the US could be near to 1 million.
However, new and advancing medical treatments are substantiating effectively at decelerating the disease. Notably, there are no particular diagnosis trials for multiple sclerosis. In lieu, a diagnosis of multiple sclerosis time and again falls back on ruling out other conditions that are likely to produce similar signs and symptoms, acknowledged as a differential diagnosis. The medical practitioner may suggest the patient for blood test, MRI, spinal tap (lumbar puncture), and evoked potential tests, among other medical tests.
In addition to that, there are many kinds of treatments available which mainly focus on decelerating the progressions of the diseases and calming down the symptoms. The Food and Drug Administration (FDA) has, in present, approved various kinds of drugs for modifying MS, which come as injectables, infusions, and oral treatments. Other than that, monoclonal antibodies are also being increasingly employed for treatment of multiple sclerosis.
Multiple Sclerosis Treatment Market Driver: Rise in prevalence for neurological disorders resulting in development of Multiple Sclerosis
The prevalence of neurological disorders among the population has steeply increased in recent years, majorly attributable to the rising count of ageing population all across the world as well as environmental health problems and sedentary lifestyle of people. In order to raise awareness, and to accentuate the need to provide neurological care at all levels including primary health care, WHO hurled various international public health projects including the Global Initiative on Neurology and Public Health, that certainly stated that there was a inadequacy of information about the prevalence and strain of neurological disorders and a dearth of programmes, policies, and resources for their treatment and administration.
Recently, on World Mental Health Day, the World Health Organization stated that mental and neurological disorders make upto 10% of the global burden of disease and 30% of non-fatal disease burden. It further adds that, roughly 280 million people go through depression, whereas about 1 in 5 of the world’s children and adults have a mental disorder, in which the pandemic and anxious environment also contributed significantly. Thus, the steadily increasing neurological disorders is majorly resulting in development of MS among the population.
Multiple Sclerosis Treatment Market Opportunity: Growing drift towards cell therapy
Stem cell therapy, in particular the administration of mesenchymal stem cells (MSCs) for the treatment of Multiple Sclerosis has revealed significant potential to assist in improving symptoms and balance the condition procession. The propitious properties of MSCs, including tissue-protection, immunomodulatory (capability to govern the immune system), and efficacy shown in multiple models make it an attractive therapy for the efficient treatment of Multiple Sclerosis (MS) and other medical conditions coming from inflammation and/or tissue injury.
A recent phase II double-blind trial, governed by placebo study of 48 patients carried out in Israel has identified that mesenchymal stem cell therapy has the capacity to enhance MS symptoms in around 73% of participants whilst disease procession was entirely ceased in approximate 60% of participants. Therefore, there is a rapid drift towards cell therapy among populations all across the world.
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Multiple Sclerosis Treatment Market Segmentation
The global multiple sclerosis treatment market is segmented on the basis of disease type, treatment, drug type, route of administration, end user, and region.
By Disease Type:
Relapsing–Remitting Multiple Sclerosis (RRMS)
Secondary Progressive Multiple Sclerosis (SPMS)
Primary Progressive Multiple Sclerosis (PPMS)
Severe Relapsing–Remitting Multiple Sclerosis (RES)
By Treatment:
Preventive Therapies
Abortive Therapies/Treatment of Acute Exacerbations
Symptomatic Therapies
By Drug Type:
Generic
Branded
By Route of Administration:
Oral
Parenteral
By End User:
Hospital
Homecare
Specialty Centres
Others
By Region:
North America
Latin America
Asia Pacific
Europe
Middle East
Africa
Multiple Sclerosis Treatment Market Key Players
Some of the key participating players in global multiple sclerosis treatment market are Genzyme Corporation, Teva Pharmaceuticals USA, Inc., F. Hoffmann-La Roche Ltd, Merck KGaA, Mallinckrodt, Pfizer Inc., Hikma Pharmaceuticals PLC, Par Pharmaceutical, Mylan N.V., Acorda Therapeutics, Inc., Novartis AG, Biogen, CELGENE CORPORATION, Lannett, Zydus Pharmaceuticals, Inc., Bayer AG, Amneal Pharmaceuticals LLC, and Adamas Pharmaceuticals, Inc.
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