Report : Middle East and Africa Multiple Sclerosis Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Drug Class (Immunosuppressant and Immunomodulators), Route of Administration (Injectable and Oral), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and E-Commerce)
The immunosuppressants segment by drug class is estimated to lead the market growth during the forecast period.
According to a new market research study of “Middle East and Africa Multiple Sclerosis Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Drug Class, Route of Administration, Distribution Channel and Country.” The Middle East and Africa multiple sclerosis therapeutics market is expected to reach US$ 2,027.86 million by 2027 from US$ 1,319.08 million in 2019; it is estimated to grow at a CAGR of 5.7% from 2020 to 2027. The report highlights trends prevailing in the Middle East and Africa multiple sclerosis therapeutics market and the factors driving market along with those that act as hindrances.
The Middle East and Africa multiple sclerosis therapeutics market, by drug class, is segmented into immunosuppressant and immunomodulators. The immunomodulators segment held the largest share of the market in 2019, whereas the immunosuppressants segment is anticipated to register the highest CAGR in the market during the forecast period.
Multiple sclerosis (MS) is a chronic disease that affects the brain, spinal cord, and optic nerves. Studies show that there is an increase in the prevalence of multiple sclerosis across the Middle East and African countries. In recent years, various measures and efforts have been taken to create awareness and educate people regarding neurological diseases, which are facilitating patients to access suitable medications and treatments for such conditions. The Multiple Sclerosis Foundation and affiliated groups have initiated National MS Education and Awareness Month, which is observed in March since 2003 to increase awareness about the disease. The goal of this program is to promote an understanding of Multiple Sclerosis and help the patients in making educated decisions of its treatment. Also, 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 MS. Similarly, several players operating in the multiple sclerosis therapeutics market are developing and launching new products. The strategy of geographic and manufacturing capacity expansion, along with the product launches, helps companies cater to a broad customer base. Such developments and launches of new products are emerging as a key trend in the Middle East and Africa multiple sclerosis therapeutics market.
Middle East and Africa is recording the growing number of COVID-19 cases. The COVID-19 pandemic restricted the research and development activities in countries across the region in 2020. Apart from this, a huge population already face a growing burden of non-communicable diseases like hypertension and diabetes, which is making them more vulnerable to the novel coronavirus. The countries in these regions are highly dependent on pharmaceutical products imported from developed countries. Therefore, massive disruptions in supply chains are hindering the growth of the Middle East and Africa multiple sclerosis therapeutics market.
The growth of the market is attributed to some key driving factors such as increasing prevalence of multiple sclerosis and rise in funding for multiple sclerosis research. However, the high cost of the multiple sclerosis treatment may hinder the market growth.
Merck & Co., Inc., Novartis AG, Bayer AG, Sanofi, Bristol-Myers Squibb Company, Horizon Therapeutics plc, TEVA PHARMACEUTICAL INDUSTRIES LTD, Takeda Pharmaceutical Company Limited, F. HOFFMANN-LA ROCHE LTD, and Biogen are among the leading companies operating in the Middle East and Africa multiple sclerosis therapeutics market.
The report segments in Middle East and Africa Multiple Sclerosis Therapeutics Market as follows:
By Drug Class
By Route of Administration
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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