About Multiple Sclerosis
Multiple sclerosis is a long-lasting (chronic) disease of the central nervous system. It is thought to be an autoimmune disorder, a condition in which the body attacks itself by mistake. It is an unpredictable disease that affects people differently. Some people with Multiple sclerosis may have only mild symptoms. Others may lose their ability to see clearly, write, speak, or walk when communication between the brain and other parts of the body becomes disrupted. It is characterized by inflammation, demyelination and degenerative changes progressive changes and primary progressive brain and spinal cord atrophy along with neuroaxonal loss. Rise in number of R&D activities of pharmaceutical companies. High-Cost Initiate with therapeutics and side effects of drug may hamper the growth factor. The increasing prevalence of this replacing remitting and primary progressive Multiple sclerosis disease has increased the demand of effective diagnosis and treatment of multiple sclerosis globally. Hence these government are actively supporting the treatment of sclerosis.
Attributes | Details |
---|
Study Period | 2019-2029 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.5% |
The competitive landscape in the Multiple Sclerosis market is constantly evolving, driven by innovative research, evolving treatment approaches, and the growing need for affordable and accessible therapies. As new players emerge and established companies refine their offerings, the market is poised for continued growth and advancements in MS treatment, ultimately benefiting patients by providing them with more effective options to manage their condition. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Multiple Sclerosis market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Roche Holding AG(Switzerland), Biogen Inc. (United States), Novartis AG (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Elan Corporation plc (Ireland), Johnson & Johnson Services, Inc (United States), AbbVie Inc. (United States), Mitsubishi Tanabe Pharma Corporation (Japan), Sanofi (France) and Merck KGaA (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Siemens Healthineers (Germany), EMD Serono (United States), Philips Healthcare (Netherlands), Bio-Rad Laboratories, Inc. (United States), LabCorp (United States) and Rehman Technology Consulting, LLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Multiple Sclerosis market by Type (Clinically Isolated Syndrome, Relapsing-remitting, Secondary progressive, Primary progressive and Progressive-relapsing) and Region.
On the basis of geography, the market of Multiple Sclerosis has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Hospitals & Clinics will boost the Multiple Sclerosis market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Treatment Type, the sub-segment i.e. Rehabilitation and Physical Therapy will boost the Multiple Sclerosis market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Drug Class, the sub-segment i.e. Immunomodulator will boost the Multiple Sclerosis market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Role of Artificial Intelligence in medical data, predicting disease progression, and identifying potential drug targets.
Market Growth Drivers:
Increasing Prevalence of Multiple Sclerosis and Rising public awareness and advocacy efforts by patient organizations and healthcare professionals
Challenges:
Complexities of Diagnosis
Restraints:
Shortage of qualified Workers.
Opportunities:
Technological Advancement in Multiple Sclerosis such as MRI techniques, Biomarker Analysis, and Digital Health Tools. and Increased Number of Research and Development Activities.
Market Leaders and their expansionary development strategies
In September 2023, EMD Serono, the specialty care business of Merck KGaA, Darmstadt, Germany, partners with Teva Pharmaceuticals to expand access to its MS treatment cladribine (Mavenclad) in various countries across Europe. This partnership aimed to increase patient access to this established therapy in new markets.
In October 2023, The European Medicines Agency grants marketing authorization for omsaponin (Zeposia), an oral S1P modulator from Novartis, for the treatment of relapsing forms of MS. This expands access to this established therapy in Europe, offering another oral treatment option for patients.
FDA guidelines emphasize patient safety and ethical considerations throughout the trial design. Specific protocols are outlined for different phases of clinical trials (Phase I, II, III) for MS drugs., CDSCO guidelines closely align with international standards for Good Clinical Practice to ensure ethical and scientific rigor in MS clinical trials conducted in India. and EMA emphasizes pharmacovigilance, the ongoing monitoring of drug safety even after market approval, to ensure patient safety throughout the drug's lifecycle.
Key Target Audience
Healthcare Professionals, Government and Regulatory Bodies, Potential Investors, Research and Development Organization and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.