Multiple Sclerosis (MS) Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance, the global Multiple Sclerosis (MS) market size was estimated at USD 25.2 billion in 2023 and is projected to reach USD 34.9 billion in 2030 at a CAGR of 4.76% during the forecast period 2023-2030.
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Multiple sclerosis is a chronic inflammatory disease that causes demyelination, cutting of axons and degeneration of neurons in the brain and spinal cord. The body's immune system targets neurons in the central nervous system and damages the myelin sheath. It is a potentially debilitating disease that causes disturbances in the body's communication and coordination.
Symptoms of multiple sclerosis vary greatly depending on the extent of the damage and the number of neurons affected. Some of the observed symptoms include fatigue, numbness, spasticity, bladder dysfunction, cognitive changes, emotional changes and depression. A person with severe MS has speech and movement problems. Multiple sclerosis can be divided into four types: RRMS, SPMS, PPMS and PRMS.
North America to Dominate the Multiple Sclerosis (MS) Market:
· North America is estimated to account for the largest market share during the forecast period. In North America, there is growing prevalence of multiple sclerosis.
· Moreover, growing focus of major key players on novel technology will further propel the market’s growth rate in this region.
The prominent players in the Multiple Sclerosis (MS) Market are:
· Abbott
· AbbVie Inc.
· Acorda Therapeutics Inc.
· Actelion Pharmaceuticals Ltd
· Allergan
· AstraZeneca
· Bayer AG
· Biogen Inc.
· Bristol-Myers Squibb Company
· Cipla Inc.
· Eli Lilly and Company
· F. Hoffmann-La Roche Ltd.
· Genentech, Inc. and More
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Key Findings of Multiple Sclerosis (MS) Market:
· The Drug Class segment is further fragmented into Immunomodulators, Immunosuppressants, Interferons and others. The immunomodulators segment is expected to account for a larger market size during the forecast period. Higher prescription rates, brand loyalty, and the presence of a wide range of drug alternatives are some key drivers attributing to its largest share.
· The Distribution Channel segment is further bifurcated into Hospital Pharmacy, Retail Pharmacy, Online Pharmacy and Others. The Hospital Pharmacy is the largest market during the forecast period. owing to favorable health reimbursement and increased government efforts to strengthen the government hospital pharmacies. Moreover, the online pharmacy segment is poised to experience lucrative growth due to the increasing number of online portals distributing prescription drugs across the globe. Moreover, due to the outbreak of COVID-19, lockdown restrictions were imposed globally to control the spread of the virus. This increased the need for home delivery of medicines, thereby spurring segmental growth.
· The Route of Administration segment is further bifurcated Oral, Parenteral and Others. Oral Route of Administration to account for a larger market size during the forecast period. Classical multiple sclerosis (MS) treatments using first-line injectable drugs, despite being widely applied, remain a foremost concern regarding therapeutic adherence and efficacy. Novel oral drugs recently approved for treating MS represent significant advances in therapy. The oral route of administration supports patient satisfaction and increases therapeutic compliance.
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
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In addition to the market data for the Multiple Sclerosis (MS) Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
Reasons to Acquire
· Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for the Multiple Sclerosis (MS) Market to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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