relapsing-remitting (MS) market Overview, Dynamics, Growth Factors for Business Expansion, Key Companies, Trends and Forecast 2023
According to MRFR analysis, the global relapsing-remitting (MS) market is expected to register a CAGR of 3.1% during the forecast period of 2019 to 2025 and held a value of USD 4,976 million in 2018.
Relapsing-remitting MS is characterized by attacks of new or increasing neurologic symptoms. These attacks are also called relapses or exacerbations and are followed by periods of partial or complete recovery. Approximately 85% of people with MS are initially diagnosed with relapsing-remitting MS.
The growth of the global relapsing-remitting MS market is boosted by various factors such as rising research in the multiple sclerosis treatment fields, and increasing innovations by significant players. However, the stringent regulations and high cost of drugs are likely to curb the growth of the global relapsing-remitting MS market.
Several market players currently dominate the global relapsing-remitting MS market. The key players are involved in product launches and strategic collaborations to strengthen their market positions. For instance, in March 2017, the US Food and Drug Administration (FDA) approved Genentech’s Ocrevus (ocrelizumab) for the treatment of adult patients with relapsing forms of multiple sclerosis and primary progressive multiple sclerosis (PPMS).
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The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the upcoming research activities by key players. The relapsing-remitting MS market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European relapsing-remitting MS market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The relapsing-remitting MS market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing pool of patient population suffering from relapsing-remitting MS, the market in Asia-Pacific is expected to be the fastest-growing. The relapsing-remitting MS market in the Middle East & Africa has been divided into the Middle East and Africa.
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The global relapsing-remitting MS market has been segmented based on treatment, route of administration, and end user.
The market, based on treatment, has been divided into immunomodulating drugs, Nrf2 activators, interferons, and others. The immunomodulating drugs segment is likely to be the largest during the review period due to the growing advantages of this drug type in comparison to others. The Nrf2 activators segment is predicted to be the fastest-growing due to the increasing awareness and research in the market.
The global relapsing-remitting MS market has been segmented, based on the route of administration, into oral and intravenous. The oral segment is expected to hold the majority share of the market owing to the increasing efficiency rates of this mechanism. The intravenous segment is expected to be the fastest-growing due to the increased awareness about this route of administration.
The end users of the market are hospitals, clinics, and others. The hospitals segment is expected to hold the largest share of the market due to the increasing number of hospitals. The clinics segment is expected to be the fastest growing owing to the increased preference of medical professionals.
Some of the key players in the global relapsing-remitting MS market are Glenmark Pharmaceuticals (India), Eisai Co., Ltd (Japan), Biogen (US), Merck KGaA (US), Sanofi Genzyme (US), Novartis AG (Switzerland), and Teva Pharmaceutical Industries Ltd (Israel).