The global multiple sclerosis market is anticipated to grow at a CAGR of around 2.5% during the forecast period (2021-2027). Multiple sclerosis is a neurological disorder characterized by loss of the myelin sheath. The rising prevalence of MS globally is one of the major factors driving the growth of the market. Many market players such as Bayer AG, Merck KGaA, Mylan N.V., Novartis AG, Pfizer Inc., are contributing towards the growth of the market by generating effective drugs and treatments for multiple sclerosis therapies. Moreover, the US FDA approvals to the drugs for the treatment of MS are the pivotal factor boosting the market growth. For instance, in March 2021, The US Food and Drug Administration (FDA) has approved the Janssen Pharmaceutical Companies of Johnson & Johnson’s (JNJ) PONVORY (ponesimod) for treating adults with relapsing forms of multiple sclerosis. Besides, in April 2020, Merck KGaA announced that it has received approval from the US FDA for its Mavenclad an oral dosage for the treatment of multiple sclerosis. Additionally, the mergers and acquisition among major players to expand their business footprints globally and products offerings in multiple sclerosis treatments are further expected to boost the market growth. For instance, in February 2021, Jazz Pharmaceuticals plc announced the acquisition of GW Pharmaceuticals plc through a definitive agreement. The acquisition was done for $220.00 per American Depositary Share (ADS), in the form of $200.00 in cash and $20.00 in Jazz ordinary shares, for a total consideration of $7.2 billion, or $6.7 billion net of GW cash. Through this acquisition, both the companies as combined will expand their commercial and operational footprint in the field of neuroscience globally.
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The rising awareness programs by the government associations for multiple sclerosis treatments playing an important role in the market development. For instance, in May 2021, Celgene Corporation and the Multiple Sclerosis Association of America (MSAA) announced the launch of a new campaign, MS MindShift, a national initiative that provides a new perspective on multiple sclerosis. The campaign aims to educate about the critical role the brain plays in the disease and what people living with multiple sclerosis can do to keep their brain as healthy as possible, for as long as possible.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Types
o By Diagnostics Technologies
o By Mode Of Administration
o By Drug Class
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- AbbVie Inc., Bayer AG, Merck KGaA, Mylan N.V., Novartis AG, Pfizer Inc., F. Hoffmann-La Roche Ltd., Sanofi S.A., Teva Pharmaceutical Industries Ltd., among Others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Multiple Sclerosis Market Report Segment
By Types
- Primary Progressive MS
- Progressive Relapsing MS
- Relapsing Remitting MS
- Secondary Progressive MS
By Diagnostics Technologies
- MRI
- Evoked Potential Test
- Spinal Fluid Test
- Others
By Mode of Administration
- Injectable Agents
- Oral Agents
- Intravenous Therapy
By Drug Class
- Immunomodulators
- Immunosuppressant
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
