Australia Multiple Sclerosis Drugs Market Report 2023 to 2030

Australia Multiple Sclerosis Drugs Market Analysis

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Australia Multiple Sclerosis Drugs Market is projected to grow from $xx Mn in 2023 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2023 ? 2030. The market for Multiple sclerosis is rising due to increase in Incidence and prevalence of multiple sclerosis (MS), Improved diagnosis and awareness, advancements in healthcare infrastructure , Advancements in Treatment Options, Expanding Pipeline of Innovative Therapies, technological advancements and increase in funding for research of multiple sclerosis. Major global players in Multiple Sclerosis Drugs Market are Abbott (U.S.), Bristol-Myers Squibb Company (U.S.), Teva Pharmaceutical Industries Ltd (Israel), Takeda Pharmaceutical Company Limited (Japan), Jazz Pharmaceuticals, Inc. (U.K.), Novartis AG (Switzerland), Biora Therapeutics, Inc. (U.S.), Bausch Health Companies Inc. (Canada), Pfizer Inc. (U.S.), Novartis AG (Switzerland), Mylan N.V. (U.S.)

ID: IN10AURD101 CATEGORY: Rare Diseases GEOGRAPHY: Australia AUTHOR: Nipun Arora

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Australia Multiple Sclerosis Drugs Market Analysis Summary

Australia Multiple Sclerosis Drugs Market is valued at around $0.3 Bn in 2022 and is projected to reach $0.45 Bn by 2030, exhibiting a CAGR of 5.2% during the forecast period 2023-2030.

Multiple sclerosis is a chronic, inflammatory, autoimmune disease affecting the central nervous system. It can result in demyelination, neurodegeneration, and axonal transection of nerve cells in the spinal cord and brain. The myelin sheath helps in the efficient conduction of electrical impulses along nerve fibres. When the myelin is damaged, the communication between the brain, spinal cord, and the rest of the body becomes disrupted. Common symptoms include fatigue, muscle weakness or stiffness, numbness or tingling sensations, coordination and balance problems, and problems with speech and swallowing. The treatment of multiple sclerosis (MS) aims to manage symptoms, slow disease progression, and improve the quality of life for individuals with the disease. Disease-Modifying Therapies (DMTs) modify the course of the disease, reduce the frequency and severity of relapses, and slow down the progression of disability. Interferon beta medications, Glatiramer acetate, Teriflunomide, Dimethyl fumarate, Natalizumab. Various medications are used to manage the symptoms like Corticosteroids, Muscle relaxants, Antidepressants, physical therapy, and supportive care like regular exercise, a healthy diet, stress management, and psychological support are regularly used. The prevalence of multiple sclerosis (MS) is rising, and funding for MS research is rising as well. These are the two reasons propelling market expansion. Novel oral drugs used for treatment represent significant advances in therapy. Major global players in Multiple Sclerosis Drugs Market are Abbott (U.S.), Bristol-Myers Squibb Company (U.S.), Teva Pharmaceutical Industries Ltd (Israel), Takeda Pharmaceutical Company Limited (Japan), Jazz Pharmaceuticals, Inc. (U.K.), Novartis AG (Switzerland), Biora Therapeutics, Inc. (U.S.), Bausch Health Companies Inc. (Canada), Pfizer Inc. (U.S.), Novartis AG (Switzerland), Mylan N.V. (U.S.)

Market Dynamics

Market Drivers

Increasing Incidence of Multiple Sclerosis

In the world, multiple sclerosis is now more prevalent. According to a study by the National Multiple Sclerosis Society, there were an estimated 1 million persons in the US who had multiple sclerosis in 2017. In 2010, there were recorded 727,344 adult cases of multiple sclerosis, with a disease rate of about 309 cases per 100,000 people. According to the Canadian government, there were more than 77,000 Canadians with multiple sclerosis who were still alive. According to the Multiple Sclerosis Society, 110,000 people in the UK have multiple sclerosis as of 2018. In addition, women are more likely than men to be diagnosed with MS. Every year, there are more new patients receiving diagnoses, which is why the

Increased Organizational R&D Activities

Market Restraints

High treatment costs, limited efficacy and variability of drugs available, adverse effects and safety concerns of drugs like gastrointestinal issues and liver abnormalities and Limited treatment options for progressive forms act as market growth restraints for Multiple Sclerosis Drugs Market

Market Developments

In 2021, The U.S. FDA gave Ponvory the green light for Janssen. This once-daily oral selective sphingosine-1-phosphate receptor 1 (S1P1) modulator is approved for use in adults with relapsing forms of multiple sclerosis (MS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.
In 2020, Novartis announced that the US FDA has authorised Kesimpta®, an injection for subcutaneous usage, for the treatment of relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive illness in adults.

Key players

Biogen Novartis Roche Sanofi BMS Celgene Genzyme Almirall Teva Pharmaceutical Industries Acorda Therapeutics

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Market Segmentations For Australia Multiple Sclerosis Drugs Market

By Route of Administration:

Oral
Injectable
Intravenous

By Treatment:

Immunosuppressants
Humira
Infliximab
Immunomodulators
Thalidomide
Lenalidomide

By End-user

Hospital and Clinics
Diagnostic Laboratories
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.