The multiple sclerosis therapeutic agents are intended to promote neurorepair and neuroprotection to prevent disease progression. The disease modifying therapeutics are currently under clinical development to specifically target the disease while avoiding frequent therapeutic administrations. A variety of corticosteroids, immunosuppressants and monoclonal antibodies are approved and recommended to reduce inflammation in multiple sclerosis. The complex nature of disease with its unique individual patient course renders variable clinical outcomes in different patients. Although there is no cure for multiple sclerosis, the currently available therapeutics modify the disease course, accelerate recovery from attacks, and help in managing symptoms.
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Market Dynamics
The major factors driving growth of the multiple sclerosis therapeutics market include rise in research and development ultimately leading to the launch of novel drug candidates and the rising prevalence of the condition in children. For instance, in 2014, Plegridy (peginterferon beta-1a) manufactured by Biogen, a disease modifying therapy was approved for the long-term treatment of relapsing forms of multiple sclerosis. According to Multiple Sclerosis Society, approximately five to ten per cent of people with MS experienced their first symptoms before the age of 16. However, the inability of drugs to prevent disease progression and disability, side effects of the approved drugs such as increased risk of infections, flu-like symptoms and progressive multifocal leukoencephalopathy (PML), a viral disease of the brain are the factors hindering market growth.
Multiple Sclerosis Therapeutics Market – Offering Long-term Disease Management
Multiple sclerosis (MS) is a disabling autoimmune disease affecting the brain and the spinal cord, eventually causing nerve deterioration or permanent damage. The types of MS include relapsing-remitting MS (RRMS), primary progressive MS (PPMS) and secondary progressive MS (SPMS). RPMS is the most common type characterized by defined attacks with increasing neurological symptoms, PPMS is the rare form characterized by gradual progression of disease, whereas SPMS is commonly identified in people living with relapsed-remitting MS. The most common symptoms of the disease include partial or complete vision loss, prolonged vision loss, lack of coordination and slurred speech.
A combination of genetic and environmental factors is responsible for the occurrence of the condition. According to a study by International Progressive Alliance, 2013, MS is two to three times more common in women than in men, suggesting that hormones play a significant role in determining susceptibility to the disease.
Increasing prevalence of multiple sclerosis to augment market growth
Multiple sclerosis is a widespread disabling neurological condition, mostly diagnosed in people in the age group 20–50 years. According to the Multiple Sclerosis Foundation, 2017, this autoimmune condition affects 2.5 million people with the global incidence of around 7 cases per 100,000 people per year. The study also states that prevalence rates varies between ethnic and geographical latitudes, ranging from 50 to 120 people per 100,000 population. North America dominates the multiple sclerosis therapeutics market owing to the high prevalence of the condition and the rising economic burden of the disease leading to the adoption of novel therapeutics. According to the Multiple Sclerosis Foundation, 2015, an estimated 400,000 people live with the disease in U.S., and about 200 new cases are diagnosed every week. According to a survey by Healthline Media, 2015, multiple sclerosis ranks second after congestive heart failure with direct and indirect health care costs ranging from US$ 8,528 to US$ 54,244 per patient per year. Higher therapy cost is restraining the growth of the multiple sclerosis therapeutics market.
Detailed Segmentation:
• Global Multiple Sclerosis Therapeutics Market, By Drug Class:
◦ Beta Interferon
◦ Corticosteroids
◦ Monoclonal Antibodies
◦ Antineoplastic Agents
◦ Others
• Global Multiple Sclerosis Therapeutics Market, By Route of Administration:
◦ Oral
◦ Injection
• Global Multiple Sclerosis Therapeutics Market, By Distribution Channel:
◦ Hospital Pharmacies
◦ Retail Pharmacies
◦ E-Commerce
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