Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Multiple sclerosis (MS) is a demyelinating disease in which the insulating covers of nerve cells in the brain and spinal cord are damaged. The disease leads in malfunction of the nervous system to communicate, which in turn causes several signs and symptoms, including physical, mental, and psychiatric problems. Double vision, blindness in one eye, muscle weakness, trouble with sensation, or trouble with coordination are some of the other symptoms. The types of MS include relapsing-remitting MS (RRMS), primary progressive MS (PPMS), and secondary progressive MS (SPMS). RPMS is the most common type characterized by defined attacks with increasing neurological symptoms, PPMS is the rare form characterized by gradual progression of disease, whereas SPMS is commonly identified in people living with relapsed-remitting MS. The most common symptoms of the disease include partial or complete vision loss, prolonged vision loss, lack of coordination, and slurred speech.
The rising base of the target population suffering from relapsing-remitting and secondary progressive multiple sclerosis coupled with the increasing demand for novel potent drugs is a key factor driving market growth. The presence of a strong drug pipeline in the form of drugs such as Ocrelizumab and Zinbryta, and their expected commercialization during the forecast period will improve usage rates. The presence of high unmet needs in the progressive form of multiple sclerosis therapeutics market and the rising demand for highly efficient and rapid acting drugs are likely to encourage manufacturers to make certain additions or modifications to their existing product portfolio. For instance, Biogen Idec launched Plegridy, a long-acting PEGylated version of its interferon Avonex.
Various organizations such as National Institute of Neurological Disorders and Stroke, National MS Society, Parkinson’s Action Network are undertaking extensive efforts to create novel therapies for MS, contributing to be a vital factor driving the growth of global multiple sclerosis therapeutics market.
The global pandemic of Coronavirus (COVID-19) has triggered stock market instability, tight border controls, and worldwide lockdown, leading the healthcare industry, as well as large companies and governments, to restock supply chains. Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa. North America was a lucrative region for the Multiple Sclerosis Therapeutics market in 2019. North America is expected to lead the market in terms of revenue and is also anticipated to grow rapidly during the forecast period. Asia-Pacific is projected to witness rapid growth over the forecast period. High presence of unmet needs coupled with the growth in infrastructure will likely boost growth over the forecast period. Key players in an attempt to capitalize on these growth opportunities, are entering into agreements with local drug manufacturers.
The multiple sclerosis therapeutics market has been segmented on the basis of product type, mode of administration, distribution channel and geography. Based on product type, the market is classified into immunomodulators (ponesimod, glatopa, copaxone, avonex, fingolimod, teriflunomide, others), immunosuppressant (cladribine, others), corticosteroids (prednisone and methylprednisolone), beta interferons (betaseron and others) and others. Based on mode of administration, the market is categorized into injectable, intravenous and oral. On the distribution channel, the market is segmented into healthcare providers, online pharmacies, medical clinics and others.
The key companies in the multiple sclerosis therapeutics market are Acorda Therapeutics, Inc., Bayer AG, Biogen Idec, F. Hoffmann-La Roche AG, Merck KGaA (Serono), Mylan N.V., Novartis AG, Pfizer Inc., Sanofi S.A. and Teva Pharmaceuticals. A number of R&D initiatives are being taken by active players in the market to capture maximum revenue and thus offer that devices which are highly precised.
The multiple sclerosis therapeutics market has been segmented on the basis of product type, mode of administration, distribution channel and geography. Based on product type, the market is classified into immunomodulators (ponesimod, glatopa, copaxone, avonex, fingolimod, teriflunomide, others), immunosuppressant (cladribine, others), corticosteroids (prednisone and methylprednisolone), beta interferons (betaseron and others) and others. Based on mode of administration, the market is categorized into injectable, intravenous and oral. On the distribution channel, the market is segmented into healthcare providers, online pharmacies, medical clinics and others.
The global market is studied for the key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America comprises of U.S., Canada and Mexico. Whereas, Europe covers UK, France, Germany, Italy, Spain and Rest of Europe. The key countries included under Asia Pacific are China, India, Japan and Rest of Asia Pacific. The Rest of the world include Latin America and Middle East & Africa.
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