Report Description of the EU Multiple Sclerosis Market Analysis
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for EU Multiple Sclerosis Market Analysis
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the EU Multiple Sclerosis Market Analysis
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy based consulting analysis
EU Multiple Sclerosis Market Analysis Executive Summary
Multiple sclerosis is a chronic, inflammatory, autoimmune disorder that affects the (CNS) central nervous system, especially the communication between the brain and other areas of the body. Multiple sclerosis (MS) in particular is a demyelinating disease that damages the insulating covers of nerve cells in the brain and spinal cord. There is usually no cure for MS, general care is based on speedy recovery from damage that delays disease progression and manages MS symptoms.
Market Size and Key Findings
The EU Multiple Sclerosis Market Analysis size stood at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 6.3% during the forecast period.
The Multiple Sclerosis treatment market is expected to gain market growth in the forecast period of 2020 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.3% in the forecast period of 2020 to 2028 and is expected to reach USD 8,374.10 million by 2028. Rising awareness towards early disease diagnosis and technological advancement in multiple sclerosis treatment are the major drivers which propelled the demand of the multiple sclerosis treatment market in the forecast period.
Market Growth Drivers Analysis
The rising number of patients, increased screening and the need for better care options are thought to be the key factors for the multiple sclerosis treatment market growth during the forecast period. In ageing population, the disease is more prone, hence the surge in the geriatric population further escalates the multiple sclerosis treatment market growth.
One of the major challenges in MS therapies market is the unknown etiology of the disease. Thus, it is difficult for medical researchers to develop drugs that target the key source of the disease. Despite increased government interventions and various treatment options for multiple sclerosis, the cost of drugs remains a major challenge for the growth of market. The high pricing of drugs makes it inefficient in addressing the unmet needs of affected populations. Moreover, it also adds to the economic burden globally due to increased out-of-pocket expenses. 3
COVID-19 impact on “EU Multiple Sclerosis Market Analysis”
A notable disruption of rehabilitative therapy and home-based services as well as in DMT adherence was observed. Since the pandemic is still ongoing and interruption of healthcare services could have a major impact on MS patients, it is necessary to monitor access of MS patients to healthcare resources in order to ensure adequate treatments, including rehabilitative therapies.
The major players covered in the Europe multiple sclerosis treatment market report are Teva Pharmaceuticals USA, Inc. (a subsidiary of Teva Pharmaceuticals Industries Ltd.), F. Hoffmann-La Roche Ltd, Merck KGaA, Mallinckrodt, Pfizer Inc., Hikma Pharmaceuticals PLC, Mylan N.V., Acorda Therapeutics, Inc., Novartis AG, Biogen, CELGENE CORPORATION (a subsidiary of Bristol-Myers Squibb Company), Lannett, Bayer AG, Amneal Pharmaceuticals LLC among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Products in Pipeline
In August 2020, Novartis AG received the U.S. FDA approval for its drug Kesimpta (ofatumumab) for the indication of treatment of relapsing multiple sclerosis. The new drug approval received by the company for its only self-administered targeted B-cell therapy for patients having relapsing MS has increased its demand in the market leading to increased revenue in future.
Notable Recent Deals
- In 2020, Biogen launched a bold 20-year, $250 million initiative to address the deeply interrelated issues of climate, health, and equity. Healthy Climate, Healthy Lives™ aims to eliminate fossil fuels across the company’s operations, build collaborations with renowned institutions to advance the science to improve human health outcomes, and support underserved communities.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario
The Multiple Sclerosis Foundation and affiliated groups have initiated National MS Education and Awareness Month, which is observed in March since 2003 to increase awareness about the disease. The goal of this program is to promote an understanding of multiple sclerosis disease and help the patients in making educated decisions regarding its treatment. Also, the National MS Society created and launched the “MS Kills Connection > < Connection Kills MS” campaign to connect people suffering from MS, people who treat MS patients, and people who run activities to create a world free of MS. Similarly, several players operating in the multiple sclerosis therapeutics market are developing and launching new products. The strategy of geographic and manufacturing capacity expansion, along with the product launches, helps companies cater to a broad customer base. Such developments and launches of new products are emerging as a key trend in the Europe multiple sclerosis therapeutics market.