Press release
Multiple Sclerosis Therapeutics Market Size, Share, Growth, Trend Analysis, Opportunities, Landscape, Segmentation
The Multiple Sclerosis Therapeutics Market was valued at US$ 24,026.90 million in 2019 and it is projected to reach US$ 39,223.59 million by 2027; it is expected to grow at a CAGR of 6.5% from 2020 to 2027.The growth of the multiple sclerosis therapeutics market is mainly attributed to factors, such as growing prevalence of multiple sclerosis (MS) and rise in funding for multiple sclerosis research. However, high cost of multiple sclerosis treatment is likely to restrain the market growth during the forecast period.
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Analysis of the Top Market Players:
1. Merck & Co., Inc.
2. Novartis AG
3. Bayer AG
4. Sanofi
5. Bristol-Myers Squibb Company
6. Horizon Therapeutics plc.
7. TEVA PHARMACEUTICAL INDUSTRIES LTD
8. Takeda Pharmaceutical Company Limited
9. F. HOFFMANN-LA ROCHE LTD.
10. Biogen
In this report, the market has been segmented on the basis of:
Drug Class (Immunosuppressant and Immunomodulators)
Route of Administration (Injectable and Oral)
Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and E-Commerce)
Multiple sclerosis is an autoimmune disease affecting the central nervous system. The immune system attacks the nerves, which causes communication problems between the brain and rest of the body. Immunosuppressant and immunomodulators, along with physiotherapy, are widely used to treat MS.
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Rise in funding is fueling extensive multiple sclerosis research across the world to identify new treatments for the disease. For instance, Multiple Sclerosis Scientific Research Foundation announced the launch of 2017 Multi-Centre, Collaborative Team Grant (Team Grant) Competition. This grant would provide funding for multiple sclerosis research to the researchers and clinician scientists in Canadian institutions in association with other national and international experts. The research team can request up to US$ 4,500,000 for three years. Similarly, the National MS Society, in 2019, announced US$ 24.4 million funding for 64 new MS research projects. The society invested around US$ 35 million in 2019 alone to support 340 new and ongoing research studies across the globe. In 2018, the National MS Society Commits invested US$ 12 million for 40 new research projects in order to stop multiple sclerosis, restore function that has been lost due to the disease, and end multiple sclerosis forever.
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