Asia-Pacific Multiple Sclerosis Treatment Market, Disease Type (Relapsing–Remitting Multiple Sclerosis (RRMS), Secondary Progressive Multiple Sclerosis (SPMS), Primary Progressive Multiple Sclerosis (PPMS), Severe Relapsing–Remitting Multiple Sclerosis (RES)), Treatment (Preventive Therapies, Abortive Therapies/Treatment of Acute Exacerbations, Symptomatic Therapies), Drug Type (Branded, Generic), End User (Hospital and Clinics, Diagnostic Laboratories, Others) – Industry Trends and Forecast to 2030.
Asia-Pacific Multiple Sclerosis Treatment Market Analysis and Size
The increasing burden of numerous infectious diseases on the global healthcare system mainly responsible for the market growth. The global increase in the incidence of HCV infections especially in developed and developing countries, is a main factor leading to the growth of the global multiple sclerosis therapies market. Governments and non-government organizations of developed and developing countries are putting their efforts into increasing awareness of multiple sclerosis and giving major funds for drug research and development.
Data Bridge Market Research analyses that the multiple sclerosis treatment market is expected to reach USD 5,737.78 million by 2030, which is USD 2,879.6 million in 2022, and is expected to undergo a CAGR of 9% during the forecast period 2022 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Asia-Pacific Multiple Sclerosis Treatment Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Disease Type (Relapsing–Remitting Multiple Sclerosis (RRMS), Secondary Progressive Multiple Sclerosis (SPMS), Primary Progressive Multiple Sclerosis (PPMS), Severe Relapsing–Remitting Multiple Sclerosis (RES)), Treatment (Preventive Therapies, Abortive Therapies/Treatment of Acute Exacerbations, Symptomatic Therapies), Drug Type (Branded, Generic), End User (Hospitals, Trauma Centres, Ambulatory Surgical Centres and Other)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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AbbVie Inc. (U.S.), Bausch Health Companies Inc. (Canada), Biora Therapeutics, Inc (U.S.), Boehringer Ingelheim International Gmbh (Germany), Amgen Inc. (U.S.), Pfizer Inc (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Mylan N.V. (U.S.), Novartis AG (Switzerland), Bayer AG (Germany), Bristol Myers Squibb Company (U.S.), Biogen (U.S.), Teva Pharmaceutical Industries Ltd (Israel), Takeda Pharmaceutical Company Limited (Japan), Jazz Pharmaceuticals, Inc (U.K.), Abbott (U.S.), Bio-Rad Laboratories Inc. (U.S.), Mylan N.V. (U.S.)
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Market Opportunities
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Market Definition
Multiple sclerosis (MS) is a chronic and inflammatory immune-mediated condition that can cause axonal transection, demyelination, and neurodegeneration of the spinal cord and brain nerve cells. Some of the frequently used therapies include the administration of injectable, oral and infused medicines, antidepressants, physical therapy and muscle relaxants.
Asia-Pacific Multiple Sclerosis Treatment Market Dynamics
Drivers
- Increasing Awareness About Multiple Sclerosis
There has been an increasing awareness about the disease which is helping in boosting the market growth. For instance, the Multiple Sclerosis Foundation and affiliated groups stated that National MS Education and Awareness Month has been observed in March since 2003 to create awareness about the disease. The program started with an aim to promote an understanding of multiple sclerosis disease and assist the patients in making educated decisions associated with its treatment. Additionally, 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 multiple sclerosis. Thus, this factor boosts the market growth.
- Increasing Product Launches
There have been increasing drug launches to treat multiple sclerosis, enhancing the market growth. For instance, Mylan N.V. announced the launch of its first FDA-approved generic drug dimethyl fumarate delayed release capsules 120 mg and 240 mg used for the treatment of relapsing forms of multiple sclerosis (MS). The newly launched drug is almost similar therapeutically to the Biogen's Tecfidera capsules. This drug entity launched during the COVID-19 which increases its demand in the market.
Opportunities
- Increasing Demand of Branded Drugs
The rising demand of branded drugs increase the growth of the market. The demand is increasing because of the large number of products launched from time to time by numerous companies, making it difficult for generics to overpower it. Furthermore, the FDA approves the branded drugs when a New Drug Application is submitted with proof of stability, efficacy, dosage form, manufacture, safety, labelling, chemistry, and packaging, which largely increases its demand. Thus, it will boost the market growth.
- Increased R&D Activities by Organizations
Many drugs are in the research phase for treating multiple sclerosis (MS) and are undergoing clinical trials. Numerous geneticists as well as other researchers are studying human genome for causes and other possible treatments for diseases such as muscular dystrophy, Alzheimer's, cancer and diabetes. For instance, they have found that some people with a particular gene are more likely to develop Alzheimer's disease. So scientists are now working on drugs that will modify or repair that particular gene. Similarly, many researchers have found that some people suffering from multiple sclerosis have a certain gene, making them more susceptible to the disease. Therefore, they are now consistently working on drugs that will either alter or repair that gene.
Restraints/Challenges
- High Treatment Expenditure
The cost of multiple sclerosis drugs remains a constant challenge to the market growth despite of the high incidence of multiple sclerosis. The high pricing of drugs makes it inefficient to meet the needs of the affected patients. DMTs are the standard option for treatment but the extreme cost of these drugs leads to improper adherence and disease management. This factor is anticipated to limit the market growth.
This multiple sclerosis treatment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the multiple sclerosis treatment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments:
- In 2020, Genzyme Corporation signed an acquisition agreement with Principia Biopharma Inc. The main motive behind this acquisition was to improve its research activities in the field of multiple sclerosis and other immune-mediated diseases.
- In 2020, Novartis announced the U.S. FDA approval for Kesimpta in the form of an injection for subcutaneous use for treating the relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults.
Asia-Pacific Multiple Sclerosis Treatment Market Scope
The multiple sclerosis treatment market is segmented on the basis of disease type, treatment, drug type, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Disease Type
- Relapsing–Remitting Multiple Sclerosis (RRMS)
- Secondary Progressive Multiple Sclerosis (SPMS)
- Primary Progressive Multiple Sclerosis (PPMS)
- Severe Relapsing–Remitting Multiple Sclerosis (RES)
Treatment
- Preventive Therapies
- Abortive Therapies/Treatment of Acute Exacerbations
- Symptomatic Therapies
Drug Type
- Branded
- Generic
End-User
- Hospital and Clinics
- Diagnostic Laboratories
- Others
Multiple Sclerosis Treatment Regional Analysis/Insights
The multiple sclerosis treatment market is analyzed and market size insights and trends are provided by disease type, treatment, drug type and end-user as referenced above.
The countries covered in the multiple sclerosis treatment market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
China is expected to lead the market in the forecast period of 2023 to 2030 because of the introduction of latest treatment options for multiple sclerosis in the region. The increasing R&D for drug development in the region is also increasing the growth of the market. The increased awareness of people related with multiple sclerosis and its treatment is aiding in leading the market growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Multiple Sclerosis Treatment Market Share Analysis
The multiple sclerosis treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to multiple sclerosis treatment market.
Some of the major players operating in the multiple sclerosis treatment market are:
- AbbVie Inc. (U.S.)
- Bausch Health Companies Inc. (Canada)
- Biora Therapeutics, Inc (U.S.)
- Boehringer Ingelheim International Gmbh (Germany)
- Amgen Inc. (U.S.)
- Pfizer Inc (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Mylan N.V. (U.S.)
- Novartis AG (Switzerland)
- Bayer AG (Germany)
- Bristol Myers Squibb Company (U.S.)
- Biogen (U.S.)
- Teva Pharmaceutical Industries Ltd (Israel)
- Takeda Pharmaceutical Company Limited (Japan)
- Jazz Pharmaceuticals, Inc (U.K.)
- Abbott (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
- Mylan N.V. (U.S.)
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